Torq Resources Provides Operations Update

Rhea-AI Summary

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.

Positive

• None.

Negative

• Significant dilution potential from 12.7 million new stock options at $0.10
• Drill results still pending and uncertain
• Project advancement dependent on Gold Fields' future funding decision

VANCOUVER, BC / ACCESS Newswire / July 17, 2025 / Torq Resources Inc. (TSX-V:TORQ)(OTCQB:TRBMF) ("Torq" or the "Company") is pleased to announce the successful completion of its inaugural drill program under the joint venture with Gold Fields at the Santa Cecilia project. All drill samples have been sent to the laboratory and the Company looks forward to sharing results once they become available.

The program consisted of five holes totaling 4,062 metres, designed to test the previously undrilled Gemelos Norte target and to follow up on the new discovery at Pircas Norte made during the 2024 drill campaign (please refer to the attached map for drill collar locations). The costs of this drilling were borne by Gold Fields which has entitled it to an initial 10% interest in the project. The Company is awaiting a decision from Gold Fields as to whether they intend to proceed to increase their interest in the project by funding additional programs.

Shawn Wallace, CEO of Torq, commented: "We are very pleased to have completed our first program under our earn-in option agreement with Goldfields at the highly prospective Santa Cecilia project. Our team is now leveraging insights from this recent work to design the next drill campaign, targeting an early spring start in Chile. We are eagerly awaiting the drill results from the recently completed program and will release them as soon as they are available. We believe 2025 will be a pivotal year for Torq shareholders."

In addition, the Company is also announcing the grant of incentive stock options, subject to customary stock exchange approvals, for the purchase of 12,700,000 common shares, of which 8,750,000 were granted to directors and officers of the Company and an IR consultant. The options are exercisable at $0.10 and expire five years from the date of grant.

Bryan Atkinson. P. Geo. is the qualified person who has reviewed and approves of all the content in this press 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 is the scope of Torq Resources' (TRBMF) recent drill program at Santa Cecilia?

The program consisted of 5 holes totaling 4,062 metres, targeting the undrilled Gemelos Norte target and following up on the Pircas Norte discovery from 2024.

How much interest did Gold Fields earn in Torq Resources' Santa Cecilia project?

Gold Fields earned a 10% interest in the Santa Cecilia project by funding the recent drilling program.

What stock options did Torq Resources (TRBMF) grant in July 2025?

Torq granted 12.7 million stock options, including 8.75 million to directors, officers, and an IR consultant, exercisable at $0.10 with a five-year expiration.

When will Torq Resources release the drill results from Santa Cecilia?

The drill samples have been sent to the laboratory, and results will be released as soon as they become available. No specific timeline was provided.

What are Gold Fields' next steps in the Torq Resources joint venture?

Torq is awaiting Gold Fields' decision on whether they will proceed to increase their project interest by funding additional exploration programs.