TURMALINA METALS CORP - TBXXF STOCK NEWS

Turmalina Metals Corp. (TBX-TSXV, TBXXF-OTCQX) has received TSXV approval for its Mineral Property Option Agreement with Compania De Minas Buenaventura S.A.A. The agreement grants Turmalina's subsidiary the option to acquire 100% interest in the Colquemayo Project, consisting of nine mining concessions in Peru.

To exercise the option, Turmalina must:

• Pay US$1,560,000 in cash over four years
• Incur $6,200,000 in exploration expenditures

Turmalina can satisfy up to 50% of cash payments with company shares. Upon exercise, a 2% net smelter returns royalty applies, with an option to reduce it to 1% for $2,500,000.

Turmalina Metals Corp. (TBX-TSXV, TBXXF-OTCQX, 3RI-FSE) has provided an update on its recently announced option to acquire 100% of the Colquemayo Project in Peru. The project is an epithermal and porphyry copper-silver-gold exploration property in Moquegua Province, Southern Peru, spanning 6,600 hectares. Historic drill results include impressive intersections such as 237.3 m at 2.4% Cu, 0.08 g/t Au & 10 g/t Ag.

The company is undertaking initial permitting steps, community meetings, and data review. Exploration will focus on validating geology, determining breccia body geometry, and interpreting geophysical data. Turmalina aims to explore areas outside the three known hydrothermal alteration centers, which may represent less eroded parts of epithermal systems with potential for new discoveries.

Turmalina Metals Corp. has entered into a Mineral Property Option Agreement with Compania De Minas Buenaventura and Aurora Copper Peru. The agreement grants Turmalina the option to acquire 100% interest in the Colquemayo Project, an epithermal and porphyry copper-gold-silver exploration project in Southern Peru.

Historical drilling results at Colquemayo have shown significant copper, gold, and silver intercepts, including 237.3 meters at 2.4% Cu, 0.08 g/t Au & 10 g/t Ag.

The project covers 6,600 hectares and includes several high-potential targets for further exploration. Turmalina will pay $1.56M in cash and incur $6.2M in exploration expenditures over four years to exercise the option.

The company plans to advance the project through systematic exploration and aims to define resources and evaluate the project's economic potential.

Turmalina Metals Corp. continues expanding mineralization in the epithermal vein camp at the San Francisco project in Argentina. They have mobilized heavy equipment to prepare drilling platforms and access roads to explore new vein systems like Veta Blanca, Veta 21, and Mosquete. The company is advancing seven vein systems within a recognized epithermal gold belt, with high-grade gold discoveries similar to nearby mines like Casposo. The exploration team has been successful in identifying new mineralized targets and extending the known epithermal vein systems, showcasing the project's potential.

Turmalina Metals Corp. closed a non-brokered private placement offering, raising $2.1 million through the issuance of 21 million units at $0.10 per unit. The net proceeds will cover property costs and general working capital. Insiders, including directors, subscribed for 1.25 million units. The company paid finder's fees and issued warrants as part of the offering.

Turmalina Metals Corp. (TBX-TSXV, TBXXF-OTCQX, 3RI-FSE) announces results from continued surface work at the San Francisco project in San Juan, Argentina. Discoveries include high-grade epithermal gold vein systems at Veta Rica, Machete, and Destino. Surface work has traced Veta Rica vein for over 700 m with gold assays typically between 0.9 and 2.7 g/t Au and higher grade zones of up to 56.6 g/t Au. Multiple mineralized veins have been discovered, and recently announced drill holes at Veta Rica returned significant gold grades. The Destino target area revealed new systems with parallel epithermal quartz veins and adjacent breccias, while the Machete vein zone showed promising gold mineralization. The company plans a 4,000 m diamond drilling program focused on testing and expanding targets within the Destino and Veta Rica areas.

Turmalina Metals Corp. announces discovery of high-grade gold vein system and copper-gold mineralized breccia pipe at San Francisco project in Argentina.

Turmalina Metals Corp. has begun its 2023 exploration program at the San Francisco project in Argentina. High-grade results have been obtained from rock-chip samples, including 14.6% copper. The company is using a diamond drill rig to test seven high-priority targets. Bryan Slusarchuk has resigned as Director and President.

Turmalina Metals Corp. (TBXXF) has announced an aggressive exploration strategy for 2023 at its Chanape and San Francisco projects located in Peru and Argentina, respectively. Results from prior drilling show high-grade mineralization, notably at Chanape with up to 48.05 m of 3.80% CuEq. In San Francisco, the land position expanded to 40,340 ha, with seven new priority targets identified. A drilling program is set to commence in late March at San Francisco, targeting new high-priority areas, while Chanape awaits permit approvals for further drilling. The Company is also granting stock options and has entered marketing agreements to enhance investor exposure.