Torq Resources secures drilling financing and provides key corporate updates

Torq Resources announces C$1.9M private placement to fund drilling at its Chilean projects, alongside key board changes to support its strategic growth in copper and gold exploration.

Torq Resources Inc. (TSX-V: TORQ, OTCQX: TRBMF), a Canadian-based exploration company focused on copper and gold assets in Chile, has announced a series of corporate developments including new financing for its drilling programs and strategic board changes.

The company secured a non-brokered private placement for gross proceeds of approximately C$1.9 million. This funding will support upcoming drill programs at its flagship projects in northern Chile: the Santa Cecilia gold-copper project and the Margarita iron-oxide-copper-gold (IOCG) discovery.

“Securing this financing is a key milestone as we prepare for our next phase of exploration,” said Torq CEO and Chair Shawn Wallace. “We remain committed to advancing both Santa Cecilia and Margarita as part of our vision to unlock significant mineral potential in Chile.”

The private placement involves the issuance of 12.9 million units at C$0.15 per unit, each consisting of one common share and one-half of a common share purchase warrant. Each warrant will entitle the holder to purchase one additional share at C$0.25 within two years. Proceeds will also be used for general corporate purposes.

Board Changes to Support Strategic Direction

Torq also announced the appointment of Steve Cook to its Board of Directors. Cook brings extensive legal and governance experience in the resource sector and has previously served on multiple public company boards. His expertise is expected to strengthen the company’s governance framework as it scales exploration efforts in Chile.

Project Focus: Chile’s Underexplored Mineral Belt

Torq’s Santa Cecilia project is located within the Maricunga belt—one of Chile’s most promising gold-copper corridors—while the Margarita project lies within a prolific IOCG district near existing infrastructure. Both assets are viewed as key to the company’s long-term growth in Latin America.

The company reiterated its commitment to sustainable exploration practices and community engagement as part of its operational strategy in the region.