Thor heads to the Antarctic seeking out the mysterious voice he was hearing through the last issue. There he discovers a deserted Viking village inside a dormant volcano….
Subplots, grouped in one place: Odin awaits the coming of the Last Hero. Surtur destroys Odin’s ravens to keep them from warning the All-Father. Karnilla the Non Queen offers aid and comfort to the exiled Balder but he declines. Fafnir realizes he has the power to defeat Thor and returns to the surface for a rematch. Lorelei plots revenge against Fafnir while scheming to bring Thor under her power.
Thor explores a nearby cavern and finds it full of death traps and, at the end, he confronts an armored warrior. Defeating his opponent, Thor discovers he is an elderly man, the last of a lost race of Viking refugees. The old man, Eilif the Lost, explains how he sent the summons to Thor, hoping to die in battle and thus gain entrance to Valhalla. Thor instead says, "Your life…is mine!"