Torq Announces That Gold Fields Has Elected to Proceed to Stage 2 of Santa Cecilia Project Option USD$11 Million Drilling Program to Start at Santa Cecilia

Rhea-AI Summary

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.

Positive

• Gold Fields elected Stage 2 of a USD 48M earn-in
• Stage 2 funds ~USD 11M program including USD 1M property payment
• Drilling scheduled early–mid November 2025 with two rigs

Negative

• Detailed drilling program metrics not yet released
• Schedule conditional on weather cooperating, creating potential delay risk

VANCOUVER, BC / ACCESS Newswire / October 20, 2025 / Torq Resources Inc. (TSX-V:TORQ)(OTCQB:TRBMF) ("Torq" or the "Company") is pleased to announce that an affiliate of Gold Fields Limited has advised that it will be proceeding with the second stage of its USD$48 million earn-in option for Torq's Santa Cecilia project. The anticipated spend for this portion will be approximately USD$11 million and will cover all project costs with the bulk of it dedicated to diamond drilling at Santa Cecilia as well as USD$1 million property payment. Work is expected to commence in early to mid-November and will utilize two drill rigs. Preparations are underway and with the weather cooperating the company expects to be able to maintain this timeline. Details of the program will be released closer to the commencement of the planned work.

Shawn Wallace, CEO of Torq, commented: "We are looking forward to resuming drilling at Santa Cecilia where we have enjoyed the discovery of long intercepts of continuous gold and copper mineralization at three separate targets with grades increasing with each phase of drilling (see Torq news release dated 25-08-20). We have only drilled 11 holes, and are excited about the follow-up drilling of these holes which being designed to vector towards the mineralizing intrusion as well as testing additional targets." The election by Gold Fields to continue is USD $48 million earn-in option to earn-in ensures this work is adequately financed and importantly, it will fund the next property payment due this month."

Bryan Atkinson, P Geo. a consultant to Torq, is the qualified person who has reviewed the technical contents of this news release.

ON BEHALF OF THE BOARD,

Shawn Wallace
CEO & Chair

For further information on Torq Resources, please visit www.torqresources.com or contact the company at (778) 729-0500 or info@torqresources.com.

About Torq Resources

Torq is a Vancouver-based copper and gold exploration company with a portfolio of premium holdings in Chile. The Company is establishing itself as a leader of new exploration in prominent mining belts, guided by responsible, respectful and sustainable practices. The Company was built by a management team with prior success in monetizing exploration assets and its specialized technical team is recognized for their extensive experience working with major mining companies, supported by robust safety standards and technical proficiency. The technical team includes Chile-based geologists with invaluable local expertise and a noteworthy track record for major discovery in the country. Torq is committed to operating at the highest standards of applicable environmental, social and governance practices in the pursuit of a landmark discovery. For more information, visit www.torqresources.com.

Forward Looking Information

This release includes certain statements that may be deemed "forward-looking statements". Forward-looking information in this release includes statements that relate to the possibility that drilling will demonstrate the extension of favourable geological structures. These statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company to be materially different (either positively or negatively) from any future results, performance or achievements expressed or implied by some of the principal forward-looking statements. See Torq's Annual Information Form filed April 29, 2024, at www.sedarplus.ca for disclosure of the risks and uncertainties faced in this business.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Torq Resources Inc.

View the original press release on ACCESS Newswire

FAQ

What did Torq (TRBMF) announce about the Santa Cecilia earn-in on October 20, 2025?

An affiliate of Gold Fields elected to proceed to Stage 2 of a USD 48M earn-in, with ~USD 11M to be spent on drilling and a USD 1M property payment.

When will the Stage 2 drilling at Santa Cecilia for TRBMF begin?

Work is expected to commence in early to mid-November 2025, subject to weather and final preparations.

How much will Gold Fields spend in Stage 2 of the Santa Cecilia option for TRBMF?

About USD 11 million is anticipated for Stage 2, covering drilling costs and a USD 1 million property payment.

How many drill rigs will Gold Fields use at Santa Cecilia under the TRBMF earn-in?

The program is planned to use two drill rigs during the Stage 2 campaign.

Will Stage 2 funding cover Torq's next property payment for TRBMF?

Yes; the Stage 2 election includes funds to cover the next property payment, stated as USD 1 million.