TORQ RESOURCES INC - TRBMF STOCK NEWS

Torq Resources Inc. (OTCQX: TRBMF) announced an amendment to its previously disclosed C$5M non-brokered private placement. The new financing terms include a unit priced at $0.75, comprising a common share and a three-year share purchase warrant, exercisable at $1.10. If the common shares trade above $1.75 for 20 consecutive trading days after the first 12 months, the warrant will face an accelerated expiry. All other terms remain unchanged from the initial offering.

Torq Resources Inc. (OTCQX:TRBMF) announced a non-brokered private placement aiming to raise up to C$5 million through the sale of 6,666,667 shares at C$0.75 each. The funds will support exploration in Chile, cover ongoing project expenses, and provide general working capital. The placement is set for completion in multiple tranches, pending approvals. The shares will be sold to accredited investors, subject to a four-month hold period in Canada. This offering underscores Torq's commitment to responsible exploration in its prime Chilean assets.

Torq Resources (OTCQX:TRBMF) has provided an update on its Santa Cecilia gold-copper project in Chile's Maricunga belt. The technical team identified multiple porphyry intrusions and potential high-grade targets over a 10 square km hydrothermal alteration area following an evaluation of historical drill core. Drilling will commence in Q2 2022, focusing on existing drill pads. Previous drilling identified significant copper equivalent mineralization, with results of up to 925.7 m of 0.45% CuEq. The Company emphasizes strong community engagement as part of its operational strategy.

Torq Resources Inc. (OTCQX:TRBMF) appointed Marie-Hélène Turgeon as Director, transitioning from a Board observer and advisor role. Turgeon, an ESG expert with extensive Latin America experience, replaces Ivan Bebek, who retired from his Director role due to over-boarding conflicts but remains on as an advisor. Additionally, Antonio Arribas has been appointed as a Board advisor, bringing over 20 years of mineral exploration experience. The company also issued incentive share options for 115,000 common shares at C$0.86, expiring in five years.

Torq Resources (TSX-V: TORQ, OTCQX: TRBMF) will present live at the Critical and Precious Metals Conference on November 10, 2021, at 7:30 AM PT / 10:30 AM ET. Executives Shawn Wallace and Michael Henrichsen will engage with investors in real-time, addressing questions during the session. The presentation will focus on the Company’s recent projects in Chile, including the Santa Cecilia gold-copper project and the Margarita drilling operations. An archived webcast will be available post-event. Pre-registration is recommended for streamlined participation.

Torq Resources has secured an option to earn a 100% interest in the Santa Cecilia gold-copper project in northern Chile, spanning 3,250 hectares. The site lies in the Maricunga belt, known for significant gold deposits. Historical drilling has indicated the presence of both epithermal gold and copper-gold porphyry mineralization. The acquisition aligns with Torq's strategy to explore high-potential sites in the region, with plans to initiate exploration soon. Key targets identified include Cerro del Medio and Vetas Condor, promising further discovery opportunities.

Torq Resources (OTCQX:TRBMF) has commenced its inaugural drill program at the Margarita Iron-Oxide-Copper-Gold (IOCG) project in northern Chile. The initial phase will involve approximately 4,000 metres of drilling, focusing on copper-gold sulphide sources linked to widespread copper oxide mineralization. The project features a significant 1.5-kilometre by 500-metre copper-in-soils anomaly, with rock samples showing up to 1.68% copper and 0.99 g/t gold. This program aims to enhance shareholder value through further exploration.

Torq Resources Inc. (OTCQX: TRBMF) has appointed Carolina Vargas as a Director and Marie-Hélène Turgeon as a Board observer and advisor, effective immediately. Vargas, a top-rated research analyst, brings expertise in South American natural resource markets, while Turgeon has significant experience in environmental management and ESG advisory. These additions aim to strengthen Torq's strategy of building a high-quality copper-gold deposit portfolio in Chile. The company emphasizes its local expertise and technical team to pursue mining opportunities.

Torq Resources Inc. (OTCQX:TRBMF) has announced the identification of three primary target areas at the Margarita IOCG project in northern Chile, with a 4,000 m reverse circulation drill program set to begin this month. The targets were defined through geological mapping and geophysical surveys, and are characterized by significant copper and gold mineralization. Notably, rock sampling indicated grades of up to 1.68% copper and 0.99 g/t gold. The company is optimistic about the potential for major discoveries in this mining-friendly region.