Torr Acquires All Crown Grants on the Latham Copper-Gold Project
Torr Acquires All Crown Grants on the Latham
Copper-Gold Project
Vancouver, British Columbia--(Newsfile Corp. - May 13, 2022) - Torr Metals Inc.
(TSXV: TMET) ("
Torr"
or the "
Company
") is pleased to announce the completion of an assignment agreement for a 100%
undivided interest (the "Acquisition") of 13 undersurface crown grants covering ~2.3 km
2
beneath the
Company's Dalvenie mineral occurrence (the "Dalvenie Zone") located on Torr's 100% owned Latham
Copper-Gold Project (Figure 1). The Dalvenie Zone is ideally situated 30 kilometres (km) south of the
town of Dease Lake in northwest BC and is road-accessible through ~2.0 km of gravel road leading
west from Highway 37. The Dalvenie Zone is highly prospective for epithermal and porphyry-style
mineralization as it parallels a regional copper-gold porphyry trend that includes the Company's Gnat
Pass copper porphyry deposit ~8 km to the north (Figure 1). Torr's highway-accessible 689 km
2
Latham
Copper-Gold Project is located within the prolific Golden Triangle region of northern BC.
Malcolm Dorsey, President and CEO, commented, "The acquisition of the Dalvenie Zone crown grants
provides a potential km-scale copper-gold-silver exploration target within the Latham Project that Torr
plans to better define with the near-term completion of our historical data compilation. As at our Gnat
Pass copper-porphyry deposit the Dalvenie Zone is ideally situated adjacent to Highway 37, providing
unparalleled accessibility and substantial exploration upside to our upcoming 2022 field program."
Figure 1.
Dalvenie Zone exploration target with undersurface Crown Grant locations.
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Acquisition of Undersurface Crown Grants
The Acquisition by the Company of certain crown granted undersurface rights (the "Crown Grants")
overlain by the Latham Project in northern British Columbia was completed through an assignment
agreement (the "Assignment Agreement") dated March 25, 2022 with Dr. Joyce Clearihue, an arm's
length third party. The 13 mineral claims are all British Columbia undersurface Crown Grants owned by
Dr. Joyce Clearihue (the "Assignor") registered as district lots (DL) 3537, 3538, 3539, 3540, 3541,
3542, 3543, 3544, 3545, 3446, 3547, 3548, 3549. The coincident overlying MTO surface mineral claims
and mineral rights are 100% owned by Torr Metals Inc. Under the terms of the Assignment Agreement,
the Company paid cash consideration in the amount of $25,000 plus the cost of transferring the title of
the undersurface Crown Grants to the Company. No finder's fees were paid in connection with the
Acquisition.
Qualified Person
The technical content of this news release has been reviewed and approved by Michael Dufresne,
M.Sc., P.Geol., P.Geo., a consultant to the Company who is a qualified person defined under National
Instrument 43-101.
About Torr Metals
Torr Metals is a Vancouver based mineral exploration company focused on defining and developing the
substantial exploration and resource potential of the ~689 km
2
Latham Copper-Gold Project, located
within the prolific Golden Triangle of northern British Columbia. Year-round access is provided by
Highway 37 with the project being favourably located 16 km south of the regional airport in Dease Lake.
For further details about the Latham Copper-Gold Project, please refer to the Company's website or
current geological Technical Report (August 24, 2021) filed on November 25, 2021 under the
Company's profile on SEDAR at
www.sedar.com
.
On behalf of the Board of Directors
Torr Metals Inc.
"Malcolm Dorsey"
Malcolm Dorsey
President, CEO and Director
For further information:
Malcolm Dorsey
Telephone: 236-982-4300
Email:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking
information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings, and the
future plans or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such
as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered
reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause
actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Although
the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking
information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such
information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-
looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis which is
available on the Company's profile on SEDAR at
www.sedar.com
. The Company does not undertake to update any forward-looking information,
except in accordance with applicable securities laws.
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