Torq Resources Extends Credit Facility

VANCOUVER, British Columbia, October 20, 2026 /CourierPR/ -- Torq Resources Inc., a Vancouver-based copper and gold exploration company, has announced the successful completion of an extension of its credit facility. The company, which had previously announced a credit facility with 191010 Investments Limited, has now extended the term of this loan from July 11, 2026, to March 16, 2027. This extension is a significant development for the company, as it ensures the continuity of its operations and provides the necessary financial stability to pursue its exploration objectives.

The extension of the credit facility is a result of the recent private placement financing that Torq Resources recently completed. This financing provided the necessary funds to support the extension of the credit facility, which is a testament to the company's strong financial position and its ability to secure additional capital for its exploration projects.

Under the terms of the extension, 191010 Investments Limited will receive 56,000,000 share purchase warrants ("Lender's Warrants") in consideration for the extension. Each Lender's Warrant is exercisable for one common share of Torq Resources at a price of $0.05 per common share until September 16, 2027. The Lender's Warrants are subject to a contractual blocker term that will prohibit exercise if the number of shares that would result on exercise combined with the Lender's other Torq shares would exceed 9.99% of issued Torq shares without the Company's approval. In the event that the Loan is prepaid before March 16, 2027, the Lender's Warrants are also subject to reduction on 10 days' notice.

The extension of the credit facility is a strategic move by Torq Resources, which aims to support its exploration activities and maintain its position as a leader in the new exploration of prominent mining belts. The company's management team, which has a track record of success in monetizing exploration assets, is committed to operating at the highest standards of environmental, social, and governance practices.

The extension of the credit facility is a positive development for Torq Resources, as it provides the necessary financial stability to pursue its exploration objectives. The extension of the credit facility is a significant step in the company's growth and is expected to support its continued success in the copper and gold exploration sector.