Mr. Shawn Wallace reports

TORQ DRILLS TWO NEW DISCOVERIES AT MARGARITA IOCG PROJECT: 42 M OF 1.1 G/T GOLD AND 0.48% COPPER ON NEW STRUCTURE NEAR FALLA 13 DISCOVERY, 132 M OF 0.48% COPPER AT COTOTUDA TARGET

Torq Resources Inc. has released the first set of results from its phase 3 drill program at its Margarita iron-oxide-copper-gold (IOCG) project, located approximately 65 kilometres north of the city of Copiapo in Chile. The program, which consisted of 14 drill holes over 3,862 metres, successfully accomplished the company's main objectives of: (i) expanding on the original Falla 13 discovery area; and (ii) discovering a new mineralized body to demonstrate the scale and potential of the mineralized system that encompasses the Margarita project.

The phase 3 drill program identified a new parallel mineralized structure 200 m west of the original Falla 13 discovery, intersecting 42 metres of 1.1 grams per tonne gold and 0.48 per cent copper of sulphide mineralization in drill hole 23MAR-031R. In addition, a new zone of copper oxide mineralization was discovered in the southern area of the project at the Cototuda target, where 132 m of 0.48 per cent copper was intersected in drill hole 23MAR-035R. Finally, broad zones of copper oxide mineralization were encountered at the historically drilled Margarita structural corridor, at the southwest limit of the property, where Torq drilled 62 m of 0.49 per cent copper and 134 m of 0.29 per cent copper in drill hole 23MAR-036R. An attached table summarizes highlights from the phase 3 drill program from the seven reported drill holes. Results from the remaining seven drill holes are pending.

Shawn Wallace, chief executive officer, commented: "We are very pleased to have multiple discoveries to pursue at our Margarita project, which is advantageously located near a major city, roads and power, and where we can drill year-round because of the low elevation. The discovery of additional bodies of mineralization on the property has significantly enhanced the value proposition for Torq at Margarita. We look forward to further drilling to continue to unlock the project's growth potential."

Michael Henrichsen, chief geological officer, commented: "The two discoveries we have made in our third phase of drilling significantly increase the potential scale of the Margarita project. With the identification of a parallel structure to the Falla 13 discovery area, we demonstrate that the mineralization is wide open to the west, and in addition, our second discovery at the Cototuda target demonstrates the potential to define a new body of copper oxide mineralization. Margarita continues to improve as we learn more about the project, and we believe that with further drilling we can elevate Margarita to become a significant project in the Coastal Cordillera belt, where there are numerous nearby producers."

Technical discussion

Falla 13 discovery area

Drill hole 23MAR-031R is located approximately 200 m west of the original Falla 13 discovery structure in a zone of significant surficial iron oxides, without a strong gold or copper signature on surface. The drill hole intersected 42 metres of 1.1 grams per tonne gold and 0.48 per cent copper (246 m to 288 m in depth) within a broader interval of 80 m of 0.64 g/t gold and 0.27 per cent copper (232 m to 312 m in depth). The mineralization was encountered within dioritic porphyry bodies that are situated below the key volcanic-intrusive contact zone, which thus far has defined the position of mineralization along the 800 m long Falla 13 discovery. The gold-copper mineralization is associated with a pyrite-chalcopyrite-magnetite and/or hematite mineral assemblage, with alteration within the mineralized interval characterized as strongly sericitic. At this early stage, Torq's technical team has interpreted the mineralization to be hosted in a north-northwest-trending structure that is parallel to the Falla 13 discovery and that has been mapped on surface and within geophysics over a 1,200 m strike length, demonstrating considerable exploration potential.

Importantly, given that the mineralization encountered in drill hole 23MAR-031R is situated 200 m vertically below the subhorizontal volcanic-intrusive contact zone, the depth potential for mineralization has increased dramatically within the Falla 13 discovery area. The mineralization is interpreted as being hosted in a feeder structure, with mineralization open vertically upward. The primary targets are the volcanic-intrusive contact zone, where there is the potential for flat-lying, manto-style mineralization, and the strike length of the structure. The company is currently planning a set of follow-up drill holes to explore along the north-northwest-trending structure, as well as to test for adjacent flat-lying, manto-style mineralization both to the east and west of drill hole 23MAR-031R.

Cototuda and Margarita target areas

Drill hole 23MAR-035R is located on the north-northwest-trending Cototuda structural corridor, approximately 150 m from the property boundary and the small-scale Cototuda copper oxide mine situated just to the south of the property boundary. The drill hole intersected 132 m of 0.48 per cent copper (including 68 m of 0.76 per cent copper) at a depth of 24 m to 156 m and is characterized by malachite, chalcocite, chrysocolla and black copper oxide minerals within a series of hematite-silica breccia bodies and dioritic intrusives that contain minor amounts of pyrite. The structural corridor is open along strike to the north-northwest for 750 m and represents an excellent opportunity to expand upon this second discovery on the project.

Drill hole 23MAR-036R is located on the north-northwest-trending Margarita structural corridor, where limited historical drilling in the mid-1990s encountered copper oxide mineralization in the southwest corner of the project. The purpose of drill hole 23MAR-036R was to evaluate the validity of the historical data and to determine the potential to define a coherent body of copper oxide mineralization within the structural corridor. Drill hole 23MAR-036R intersected two broad zones of copper oxide mineralization, including 62 m of 0.49 per cent copper (including 40 m of 0.67 per cent copper) from surface and 134 m of 0.29 per cent copper (including 48 m of 0.40 per cent copper) at a depth of 112 m to 246 m. Mineralization within both intervals was characterized by chrysocolla, malachite, chalcocite and black copper oxide minerals within a feldspar porphyry crosscut by a series of dioritic dikes. The results from drill hole 23MAR-036R exceed the historical results and demonstrate that copper oxide mineralization occurs at greater depths.

Remolino target area

At the Remolino target area, a fence of three drill holes was designed to test a coincident magnetic and gold-in-soil geochemistry anomaly that had similar characteristics as the original Falla 13 discovery. Of the three drill holes, two intersected anomalous copper and/or gold mineralization, including 12 m of 0.29 g/t gold from surface and 30 m of 0.14 per cent copper (80 m to 110 m in depth) in drill hole 23MAR-025R as well as 20 m of 0.25 g/t gold (124 m to 144 m in depth) and 36 m of 0.18 per cent copper (164 m to 200 m in depth) in drill hole 23MAR-026R. Importantly, copper mineralization at Remolino is characterized by intervals of secondary chalcocite copper oxide mineralization, indicating the possibility of a proximal copper sulphide source to the mineralization encountered in the Remolino drill holes.

Next steps

Based on the new discovery of copper oxide mineralization at the Cototuda target and the long, broad intervals of mineralization encountered at the Margarita copper oxide zone, the company is planning on initial metallurgical testwork from both zones to determine the leaching characteristics of the oxide mineralization encountered. In addition, a follow-up drill program is currently being planned on the newly discovered mineralized structure adjacent to the Falla 13 discovery, as well as along the Cototuda structural corridor, to test several remaining undrilled target areas.

Michael Henrichsen, PGeo, Torq's chief geological officer, is the qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, who assumes responsibility for the technical contents of this press release.

About Torq Resources Inc.

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 its 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 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.

Margarita reverse circulation drilling

Analytical samples were taken using one-eighth of each two m interval material (chips) and sent to ALS in Copiapo, Chile, for preparation and then to ALS in Santiago, Chile, and Lima, Peru, for analysis. Preparation included crushing core samples to 90 per cent passing two millimetres and pulverizing 1,000 g of crushed material to better than 85 per cent passing 75 micrometres. All samples are assayed using 50 g nominal weight fire assay with AAS finish (Au-AA24), multielement four-acid digestion ICP-AES/ICP-MS method (ME-MS61) and copper sulphuric acid leach with AAS finish (Cu-AA05). Where MS61 results were greater or near 10,000 parts per million copper, the assays were repeated with an ore-grade four-acid digestion method (Cu-OG62). Quality assurance/quality control programs for 2023 RC drilling samples using internal standard samples as well as field and lab duplicates, standards and blanks indicate good accuracy and precision in a large majority of standards assayed.

True widths of mineralization are unknown based on current geometric understanding of the mineralized intervals.

We seek Safe Harbor.