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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) 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.
Torq Resources (OTCQB:TRBMF) has announced significant drill results from its Phase III diamond drilling campaign at the Santa Cecilia gold-copper porphyry project in Chile's Maricunga belt. The campaign revealed a third major discovery at Gemelos Norte, with impressive intercepts including 450m of 0.51 g/t gold and 0.155% copper within a broader zone of 652m of 0.42 g/t gold and 0.134% copper.
The program consisted of five diamond drill holes totaling 4,061.5 meters, focusing on the Pircas Norte and Gemelos Norte targets. Step-out drilling at Pircas Norte extended mineralization with notable results of 206m of 0.99 g/t gold and 0.109% copper. The project's strategic location, within 1-2 kilometers of Newmont and Barrick's Caspiche deposit, underscores its potential scale.
Gold Fields has invested over $6 million of a possible $48 million earn-in, securing a 10% vested interest in the project. The mineralization at Santa Cecilia now extends approximately 3,500 meters in an east-west direction.
Torq Resources (OTCQB:TRBMF) has announced the termination of its option to acquire interest in the Margarita Project in Chile. The decision comes as the company shifts focus to its Santa Cecilia copper/gold project, which has a US$48M Earn-in Option granted to Gold Fields.
The company will maintain 100% ownership of the 90-hectare La Cototuda concession adjacent to Margarita, which has minimal holding costs and no royalty burden. The termination will have no material impact on financial statements as capitalized costs were previously written off.
Additionally, Torq has completed its inaugural drill program at Santa Cecilia under the Gold Fields joint venture, with results pending from laboratory analysis.
Torq Resources (OTCQB:TRBMF) has completed its first drill program at the Santa Cecilia project under its joint venture with Gold Fields. The program comprised five holes totaling 4,062 metres, targeting the unexplored Gemelos Norte area and following up on the Pircas Norte discovery from 2024.
Gold Fields has earned a 10% interest in the project by funding this drilling program. The company is awaiting Gold Fields' decision on further funding to increase their project stake. Additionally, Torq has granted 12.7 million stock options, with 8.75 million allocated to directors, officers, and an IR consultant, exercisable at $0.10 with a five-year expiration.