Torq Resources Inc. reports company developments tied to copper and gold exploration in Chile, with recurring updates on the Santa Cecilia gold-copper porphyry project in the Maricunga belt. News items include drilling results, target work at Pircas Norte and Gemelos Norte, project planning, and earn-in activity involving Gold Fields.
Company announcements also cover portfolio decisions, including the terminated Margarita project option and retained La Cototuda concession, as well as financing matters such as credit facility extensions and warrant terms. Governance updates include annual meeting voting results and shareholder matters for the TSXV- and OTCQB-traded exploration issuer.
Torq Resources (TRBMF) completed a shares-for-debt settlement that extinguished an aggregate of $529,116 in debts through securities issued to directors and creditors.
The company issued 2,261,120 shares to two directors, 240,018 shares to arm's length creditors and 8,081,182 units to arm's length creditors. Each unit contains one common share and one warrant, exercisable until October 1, 2029, to purchase a share for C$0.10. The debts primarily covered accrued interest on a $2.8m loan facility, principal and accrued interest on an $84k promissory note, and certain accrued director wages.
No finder fees were paid. The settlement follows a private placement that closed on September 16, 2026, raising $1.7m in gross proceeds. The director share issuance was exempt from formal valuation and minority shareholder approval requirements under the cited Canadian related-party transaction rules.
Torq Resources (TRBMF) has closed a private placement raising gross proceeds of C$1,700,191.20 through the issuance of 34,003,824 units at C$0.05 per unit on September 16, 2026.
Each unit consists of one common share and one warrant exercisable at C$0.10 per share until September 16, 2029. Gold Fields Atacama Holdings invested C$170,191.20 in the financing. Torq paid cash finder's fees of C$29,700 and issued 594,000 non-transferable finder's warrants exercisable at C$0.10 per share until September 16, 2029. Net proceeds are intended for general working capital, and all securities are subject to a hold period in Canada until January 17, 2027.
Torq Resources (TRBMF) plans to upsize its previously announced non-brokered private placement to C$1.7 million, issuing 34,003,824 units at C$0.05 each for gross proceeds of C$1,700,191.20.
Each unit comprises one common share and one warrant exercisable at C$0.10 for three years from closing. Gold Fields Atacama Holdings will invest C$170,191.20 in the placement, bringing its ownership in Torq to 10.95%. The placement remains subject to final TSX Venture Exchange acceptance, and all securities will be subject to a four‑month hold period. Finder’s fees include C$29,700 in cash and 594,000 finder’s warrants exercisable at C$0.10 for three years.
Torq also expects to complete a six‑month extension of its C$2.8 million loan from 191010 Investments Limited, effective from the placement closing, in exchange for 56,000,000 one‑year warrants at C$0.05. The company states it will require additional equity or alternative financing to repay the loan and fund ongoing needs. Torq and Gold Fields have extended the earn‑on option period by 24 months due to prior operational delays.
Torq Resources (TRBMF) plans to settle approximately $400,000 of debt in units, matching the terms of its August 20, 2026 private placement, and about $110,000 of debt in common shares priced at $0.05 per share. These equity-for-debt settlements remain subject to execution of definitive agreements and TSX Venture Exchange approval, with completion targeted for September 2026 to align with the previously announced financing.
The company reports that director Marie-Hélène Turgeon has resigned from the board effective immediately, and that its investor relations agreement with Kin Communications, originally entered into on June 10, 2025, was terminated effective July 31, 2026 in accordance with the contract terms.
Torq Resources (OTCQB:TRBMF) announced a proposed non-brokered private placement to raise not less than C$1.25 million through the sale of at least 25 million equity units at C$0.05 per Unit. Each Unit includes one common share and a three-year warrant exercisable at C$0.10 per share.
Completion of the Placement is a condition for a six-month extension of Torq’s C$2.8 million loan from 191010 Investments Limited, which matured July 11, 2026. As consideration, the lender will receive 56 million one-year warrants exercisable at C$0.05 per share. Both the Placement and Loan Extension Warrants require TSX Venture Exchange approval and are targeted to close in late August 2026.
The Units, Loan Extension Warrants and related shares will carry a four-month Canadian hold period. Torq may pay a 6.0% cash finder’s fee and issue non-transferable finder’s warrants equal to 6.0% of Units sold, exercisable at C$0.10 for 36 months.
Torq Resources (OTCQB:TRBMF) granted incentive stock options to new director John Eren, elected at the recent shareholder meeting. The grant covers 600,000 common shares at an exercise price of C$0.10, expiring five years from grant, subject to customary stock exchange approvals.
Options vest 25% on grant and 12.5% quarterly thereafter.
Torq Resources (OTCQB:TRBMF) reported results from its Annual General Meeting held March 5, 2026 in Vancouver. Total shares present or represented were 66,135,336, equal to 35.58% of outstanding common shares. All director nominees were elected with >99.6% support.
Deloitte LLP was reappointed auditor and the company's share option plan was approved to continue.
Torq Resources (OTCQB:TRBMF) and a Chilean affiliate of Gold Fields are advancing planning for a 2026 Santa Cecilia drill program. Gold Fields holds an option to earn a 75% indirect interest by funding a USD$48 million exploration option (10% earned to-date).
An approximately USD$11 million program, 100% funded by Gold Fields, will target Pircas Norte, Gemelos Norte and other prospective zones. Prior drilling returned strong intercepts including 450 m of 0.51 g/t Au and 0.155% Cu and 206 m of 0.99 g/t Au and 0.109% Cu. A planned start was delayed after an on-site fatality; preliminary review cited natural causes and investigations continue, with no expected material financial impact.
Torq Resources (OTCQB:TRBMF) announced that an affiliate of Gold Fields has elected to proceed to Stage 2 of a USD$48 million earn-in at the Santa Cecilia project.
Stage 2 carries an anticipated spend of ~USD$11 million (including a USD$1 million property payment) focused mainly on diamond drilling. Work is expected to commence in early to mid-November 2025 using two drill rigs; detailed program parameters will be released closer to start-up.
Torq Resources (OTCQB:TRBMF / TSXV:TORQ) will present at Kinvestor Day 2025 (KD25) on Thursday, October 23, 2025. CEO Shawn Wallace is scheduled to present at 9:00 AM PT / 12:00 PM ET, followed by a live Q&A.
KD25 is a virtual investor conference focused on small and mid-cap companies in mining and energy, moderated by Arlen Hansen. Investors can register to view presentations, join a roundtable on mining and commodities trends, and engage with executive presenters.