TORQ RESOURCES INC - TRBMF STOCK NEWS

Torq Resources Inc. (OTCQX:TRBMF) has received a receipt for its final short form base shelf prospectus, allowing the potential issuance of up to C$60 million in securities over the next 25 months. This Shelf Prospectus provides the Company with financing flexibility, permitting the sale of common shares, warrants, and debt securities as needed. The terms of these offerings will be detailed in separate prospectus supplements. It's important to note that these securities are not registered under U.S. Securities Act, and no certainty exists regarding actual sales. The Company focuses on responsible copper and gold exploration in Chile.

Torq Resources has filed a preliminary short form base shelf prospectus with Canadian securities commissions, aiming to raise up to C$60 million over approximately two years. This Shelf Prospectus allows for the issuance of various securities including common shares and debt instruments, providing financial flexibility. Additionally, the company has granted 5,405,000 stock options to directors and officers, exercisable at $0.73 for five years. This move positions Torq to capitalize on potential funding opportunities while emphasizing its focus on responsible exploration practices.

Torq Resources Inc. (OTCQX: TRBMF) has initiated surface exploration at its Santa Cecilia gold-copper project in Chile's Maricunga belt. This program aims to define drill targets ahead of the anticipated drilling phase in Q1 2023. The company is also drawing an additional C$500,000 from its credit facility, issuing over 769,000 share warrants at C$0.65. The project hopes to explore high-grade porphyry phases, with historical drilling showing promising results, including an intercept of 925.7 meters of 0.45% copper equivalent.

Torq Resources announced significant findings at the Falla 13 discovery within its Margarita project in northern Chile, revealing a gold-copper mineralized system over 800 meters. Highlights from the reverse circulation drill program include:

• 64 meters of 0.63 g/t gold and 0.63% copper in drill hole 22MAR-017R
• 130 meters of 0.36 g/t gold and 0.28% copper in hole 22MAR-023R
• 62 meters of 0.51 g/t gold and 0.38% copper in hole 22MAR-024R

The company's ongoing exploration plans include additional drilling and geochemical surveys to expand the mineralized area.

Torq Resources Inc. has successfully completed a C$15 million non-brokered private placement with Gold Fields Limited, resulting in Gold Fields owning approximately 15.05% of Torq's shares. The placement involved issuing 15 million shares at $1.00 each. The raised funds are designated for advancing Torq's Santa Cecilia gold-copper project in Chile, with exploration activities expected to commence in October 2022. Torq also anticipates releasing assay results from its Margarita project soon.

Torq Resources has successfully extended its discovery at the Margarita Iron-Oxide Copper Gold (IOCG) project in Chile by 190 metres. Drill hole 22MAR-014R revealed 98 m of 0.94 g/t gold and 0.68% copper from depths of 32 m to 130 m. This follows the earlier hole 22MAR-013R, which intersected 90 m of 0.84 g/t gold and 0.94% copper. The company's phase II drill program is complete, totaling 4,000 m. Further results are expected soon, and there are plans for a phase III drilling program.

Torq Resources has announced a strategic C$15 million investment from Gold Fields, aimed at advancing its Chilean projects, particularly the Santa Cecilia gold-copper project. Gold Fields will acquire 15 million shares at C$1.00 each, representing a 23% premium over the recent market price, resulting in ownership of approximately 15.05% of Torq. The funds will support drilling activities following a recent 7-year social access agreement. The deal also includes conditions for share ownership and the establishment of an advisory technical committee.

Torq Resources Inc. (TRBMF) reported the results of its Annual General Meeting held on August 18, 2022, in Vancouver. A total of 23,348,644 common shares, representing 27.57% of outstanding shares, were present at the meeting. All director nominees received overwhelming support, with votes for Shawn Wallace at 99.98% and other nominees receiving over 99% approval. Shareholders also approved the reappointment of Deloitte LLP as auditor and continued the 10% rolling share option plan, with 7,782,500 options already issued.

Torq Resources Inc. (OTCQX: TRBMF) has identified new high-priority targets at the Margarita Iron-Oxide-Copper-Gold project in northern Chile. The Remolino and Cototuda east targets share geological and geochemical similarities with the successful Falla 13 discovery, which revealed a significant intersection of 0.94% copper and 0.84 g/t gold over 90 meters. A phase III drill program is planned to test these new areas. Additionally, Torq's ongoing phase II drilling program aims to further expand the Falla 13 discovery, with results expected in October.