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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001144204-07-004192.txt : 20070130
<SEC-HEADER>0001144204-07-004192.hdr.sgml : 20070130
<ACCEPTANCE-DATETIME>20070130171137
ACCESSION NUMBER:		0001144204-07-004192
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070126
FILED AS OF DATE:		20070130
DATE AS OF CHANGE:		20070130

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Thorium Power, Ltd
		CENTRAL INDEX KEY:			0001084554
		STANDARD INDUSTRIAL CLASSIFICATION:	MINING, QUARRYING OF NONMETALLIC MINERALS (NO FUELS) [1400]
		IRS NUMBER:				911975651
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1  E. LIBERTY STREET, SUITE 6000
		CITY:			RENO
		STATE:			NV
		ZIP:			89501
		BUSINESS PHONE:		604-904-6946

	MAIL ADDRESS:	
		STREET 1:		1  E. LIBERTY STREET, SUITE 6000
		CITY:			RENO
		STATE:			NV
		ZIP:			89501

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NOVASTAR RESOURCES LTD.
		DATE OF NAME CHANGE:	20051011

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NOVASTAR RESOURCES LTD
		DATE OF NAME CHANGE:	20050829

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CUSTOM BRANDED NETWORKS INC
		DATE OF NAME CHANGE:	20010622

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GRAE SETH
		CENTRAL INDEX KEY:			0001357549

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-28543
		FILM NUMBER:		07565376

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		703 918 4918

	MAIL ADDRESS:	
		STREET 1:		1249 BEVERLY ROAD
		CITY:			MCLEAN
		STATE:			VA
		ZIP:			22101
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>v063863_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-01-26</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001084554</issuerCik>
        <issuerName>Thorium Power, Ltd</issuerName>
        <issuerTradingSymbol>THPW.OB</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001357549</rptOwnerCik>
            <rptOwnerName>GRAE SETH</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1249 BEVERLY ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>MCLEAN</rptOwnerCity>
            <rptOwnerState>VA</rptOwnerState>
            <rptOwnerZipCode>22101</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President and CEO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2007-01-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>D</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1200000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.20</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>13230400</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The Issuer redeemed 1,200,000 shares from Mr. Grae on January 26, 2007.  The proceeds of this redemption were paid directly
 to federal and/or state taxing authorities to cover Mr. Grae's tax liability relating to the grant of 3,000,000 shares of
 common stock to Mr. Grae as partial compensation for services provided by Mr. Grae to the Issuer in 2006.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Seth Grae</signatureName>
        <signatureDate>2007-01-30</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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