Torq Provides Santa Cecilia Project Update

Rhea-AI Summary

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.

Positive

• Gold Fields option funds up to USD$48M for 75% interest
• USD$11M 2026 program fully funded by Gold Fields
• Gemelos Norte: 450m of 0.51 g/t Au and 0.155% Cu
• Pircas Norte: 206m of 0.99 g/t Au and 0.109% Cu
• Historical deep intercept: 557m of 0.38 g/t Au, 0.23% Cu

Negative

• 2026 drill program delayed to later in the year
• On-site fatality with governmental and civil investigations ongoing
• Gold Fields has earned only 10% so far; further funding required

VANCOUVER, BC / ACCESS Newswire / February 27, 2026 / Torq Resources Inc. (TSXV:TORQ)(OTCQB:TRBMF) ("Torq" or the "Company") announces that it, together with Gold Fields Pedernales Limitada, ("Gold Fields"), a Chilean affiliate of Gold Fields Limited is advancing the planning and preparation for a 2026 drill program to commence in Chilean springtime (late summer in North America). Gold Fields has an option to earn into the Santa Cecilia project by funding a USD$48 million exploration option for a 75% indirect interest (10% earned to-date). Gold Fields is also a principal shareholder of Torq.

An approximately USD$11 million program, to be 100% funded by Gold Fields, is intended to target and further evaluate prospective areas, specifically Pircas Norte and Gemelos Norte, as well as other new areas with evidence of wide continuous Au-Cu mineralization.

In the last drill program, the Santa Cecilia JV completed five drill holes at Gemelos Norte confirming a new copper-gold porphyry discovery including 450 m of 0.51 g/t gold and 0.155%copper. Step-out drilling at Pircas Norte extended mineralization at depth returning 206 m of 0.99 g/t gold and 0.109%Cu within 266 m of 0.81 g/t Au and 0.097%Cu.

Previous highlights from Torq's inaugural drill program include 557 m of 0.38 g/t gold, 0.23% copper and 56 ppm molybdenum in wall rock at a depth of 442 m - 999 m. This intercept bottomed in grade and represented an 81% increase in gold grade relative to historical drilling, indicating potential vectoring toward the higher-grade causative intrusion.

The Company looks forward to testing the extent of the discoveries and evaluating additional highly prospective targets.

This program was originally planned for early 2026 but has been delayed to later in the year for several reasons including the on-site death in November of an employee of a catering contractor who passed away at the exploration camp during off-duty hours. A preliminary review by Chilean authorities has ruled that the fatality was due to natural causes however governmental and potential civil suit investigations are ongoing. The Company maintains high standards of safety for its employees and requires its contractors to do the same. Neither investigation is expected to lead to legal proceedings which would have material adverse financial consequences to Torq.

Shawn Wallace, CEO of Torq, commented: "We have extended our sincere condolences to the family of the individual who passed away at site. The safety and well-being of all personnel and other stakeholders remains our highest priority. While drilling has been deferred, we remain committed to advancing Santa Cecilia responsibly and in alignment with all regulatory and community expectations. We appreciate the continued support of the local community and look forward to involving them in our plans as we move forward."

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 periodic filings , at www.sedarplus.ca for disclosure of some 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 is Gold Fields' option on Torq's Santa Cecilia project (TRBMF)?

Gold Fields has an option to earn a 75% indirect interest by funding USD$48 million. According to the company, Gold Fields has earned 10% to-date and is funding the next exploration tranche.

How large is the 2026 Santa Cecilia drill program and who pays for it (TRBMF)?

The planned program is approximately USD$11 million, to be 100% funded by Gold Fields. According to the company, the program targets Pircas Norte, Gemelos Norte and new prospective areas.

What notable drill results did Torq report at Santa Cecilia (TRBMF)?

Recent holes included 450 m of 0.51 g/t Au and 0.155% Cu at Gemelos Norte. According to the company, Pircas Norte returned 206 m of 0.99 g/t Au and 0.109% Cu in step-out drilling.

Why was Torq's Santa Cecilia drilling delayed in 2026 (TRBMF)?

Drilling was deferred after an on-site fatality; a preliminary review cited natural causes. According to the company, governmental and potential civil investigations are ongoing but not expected to cause material financial impact.

What are the near-term objectives for the Santa Cecilia 2026 program (TRBMF)?

The program aims to test and expand discoveries at Pircas Norte and Gemelos Norte and evaluate new targets. According to the company, planned work will follow up wide continuous Au-Cu mineralization and vector toward the causative intrusion.

How does the Gold Fields relationship affect Torq shareholders (TRBMF)?

Gold Fields' option brings USD$48M funding potential and an USD$11M fully-funded 2026 program. According to the company, this reduces Torq's near-term cash needs while advancing Santa Cecilia exploration.