Believe it or not, Thor's doing stuff that's not tied into Fear Itself, at least as far as the press release blurb for Matt Fraction and Olivier Coipel's The Mighty Thor #2 noted.
Instead, it looks like the heroes of Asgard are going to have to face down the threat of the Devourer of Worlds, the Cosmic Hunger, the man in the giant purple hat and skirt, aka Galactus, along with his herald, the Silver Surfer. Just where Asgard is located at the time of this issue is still a mystery, since Fear Itself is re-establishing Asgard back in cosmic-land where it used to be, whereas in the art below, we see ol' Norrin Radd zipping by a familiar diner in what is likely Broxton. However, in this story, Thor is too wiped out from a recent quest to be of help against the Big G, so it's up to the fearless Lady Sif, and the mysterious Loki child to mount a defense.
And something is clearly up with Odin, the Allfather. Where's he run off to?
Check out these preview pages from The Mighty Thor #2, due out in May.