Torq Resources: A New Dawn with Gold Fields at Santa Cecilia

Torq Resources Inc. (TSXV:TORQ)(OTCQB:TRBMF) ("Torq" or the "Company") has announced that its Santa Cecilia option and joint venture transaction with Gold Fields Limited ("Gold Fields") is now in effect. This strategic partnership, announced in August 2024, is set to significantly enhance Torq's exploration efforts and future prospects at the Santa Cecilia gold-copper project in Chile. The transaction, which was approved by Torq's disinterested shareholders at a special meeting held on January 10, 2025, is expected to bring substantial benefits to both parties.

Under the terms of the agreement, Gold Fields has acquired an initial option to earn up to a 51% interest in the Santa Cecilia Project by funding an aggregate of US$18 million of Project expenses within the first 30 months of closing under the Definitive Agreements. Of this amount, US$6 million is a committed minimum spend, which will earn Gold Fields an initial 10% interest. Gold Fields may thereafter earn an additional 41% interest in the Project by funding a further US$12 million of exploration expenditures by the end of the 30 months, and a further 24% interest (total 75%) by incurring a final US$30 million during the following 42 months (total of 6 years).

The transaction is a significant milestone for Torq, as it provides access to substantial capital from a major mining company, Gold Fields. This capital will enable Torq to accelerate its exploration activities at the Santa Cecilia Project, potentially leading to the discovery of valuable mineral resources. The partnership also brings operational expertise and financial strength to the table, which can help mitigate risks and improve the project's overall prospects.

For Gold Fields, the transaction offers an opportunity to gain exposure to a promising exploration project in a favorable jurisdiction. By partnering with Torq, Gold Fields can leverage the company's local expertise and knowledge of the Santa Cecilia Project, while also sharing in the potential rewards of any discoveries made during the exploration phase.



As the Santa Cecilia option and joint venture transaction becomes effective, Torq Resources and Gold Fields will work together to unlock the full potential of the Santa Cecilia Project. With Gold Fields' financial strength and operational expertise, combined with Torq's local knowledge and exploration focus, the partnership is well-positioned to make significant progress in the coming years. As the exploration efforts at the Santa Cecilia Project advance, investors should closely monitor Torq's progress and the potential impact on the company's share price and overall market capitalization.

Rating: Buy (Reiterated).