Torq Resources Ends Margarita Project Option, Focuses on Santa Cecilia

Torq Resources Inc. has terminated its option to earn an interest in the Margarita Project in Chile due to financial constraints. The decision aligns with the company's strategy to concentrate on the US$48M Earn-in Option with Gold Fields at the Santa Cecilia copper/gold project.

Despite this move, Torq retains a 100% interest in the adjacent La Cototuda concession, crucial for any future developments on Margarita. The concession spans approximately 90 hectares, has minimal holding costs, and is free from royalty burdens. The termination will not impact the company's financial statements as costs related to Margarita were previously written off.

CEO Shawn Wallace emphasizes the importance of focusing resources on significant discovery efforts at Santa Cecilia. The inaugural drill program there is completed, with results anticipated soon.