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Torr Identifies 6 New Gold Bearing Structures With Soil Samples Up to 1.32 g/t Au on the Filion Project

Drill Results Exploration Programs Sampling & Geoscience Results

Torr Identifies 6 New Gold Bearing Structures

With Soil Samples Up to 1.32 g/t Au on the

Filion Project

Vancouver, British Columbia--(Newsfile Corp. - January 15, 2024) - Torr Metals Inc. (TSXV: TMET)

("

Torr"

or the "

Company

") is pleased to announce the identification of multiple new gold (Au)

anomalies in humus soil sampling with

assays yielding up to 1.32 g/t Au that have never been drill

tested

. The soil anomalies occur coincident with six kilometre-scale VLF-EM (very low frequency

electromagnetic) conductors interpreted as significant shear structures with northeast-southwest and

east-west orientations that occur within a >7 kilometre (km) dilational bend of the Filion Fault, defined by

a break in the linear east-west trending high magnetic signature associated with magnetically

susceptible stratigraphy (Figure 1, Figure 2). Fieldwork in 2023 also confirmed in localized outcrop that

VLF-EM conductors and soil anomalies occur coincident with highly prospective stratigraphic contact

zones for gold endowment, including mafic volcanics and quartz-feldspar porphyry that account for the

underlying linear moderate to high and flanking low magnetic anomalies respectively (Figure 2).

Within the regional greenstone belts of northern Ontario early syn-volcanic aged gold deposits (Figure 3;

including Hemlo, Greenstone, Casa Berardi, Detour Lake) are commonly found within major east-west

trending deformation zones with a similar setting to the Filion Fault with chief emplacement controls for

gold consisting of dilational bends as well as competency contrasts along major stratigraphic contacts.

Both of these characteristics have now been identified on the Filion Project together with coincident

VLF-EM conductors and gold soil anomalies that remain open in all directions and untested by drilling.

The 100% owned Filion Gold Project (the "Project") is located within a prolific region of northern Ontario

that hosts a number of major gold mine producers with deposits occurring in comparable geological

settings (Figure 3). The Project is ideally situated adjacent to excellent infrastructure with the town of

Kapuskasing located ~30 km to the southeast and direct road access 4 km from the Trans-Canada

Highway, regional railway, and provincial power grid.

Highlights Include:

2023 humus soil samples detected multiple

gold (Au) soil anomalies

coincident with 6 historical

VLF-EM conductors across a

structural corridor measuring greater than 2.5 km in width

. Of

318 humus soil samples collected 39 yielded >10 ppb Au, with 13 samples >20 ppb Au up to

1,320 ppb Au.

The 1,320 ppb Au soil sample was collected in proximity to a historical

trench

where historical channel sampling reportedly yielded 91.4 g/t Au over 0.3 metres

(m)

1

(Figure 2).

Humus soil sampling along the interpreted Filion Fault indicates

anomalous gold along a ~1200

metre strike-length

along-trend of the Oscar occurrence, where a

historical rock grab sample

assayed 9.1 g/t Au

2

.

These results

define a significant extension to this portion of the

mineralizing system that now measures 2.5 km in strike-length

(Figure 2).

No soil anomalies >20 ppb Au have ever been drill tested

and

more than 75% of the highly

prospective 28 conductors

located within the >7 km dilational bend in the Filion Fault remain

untested by humus soil sampling (Figure 2).

Mineralization becomes more robust in grade and distribution where east-west trending

conductors (numbered 4-6, Figure 2) are concentrated along the interpreted Filion Fault; where

significant shear systems were observed in outcrop together with extensive arsenopyrite-pyrite

mineralization within quartz-carbonate stockwork and veining that is also host to chlorite-sericite-

silica-fuchsite alteration, characteristics that in other regions of Ontario yield significant gold

deposits.

Torr is currently in the process of applying for a drill permit to test these targets

in 2024.

Malcolm Dorsey, President and CEO, commented, "These are fantastic results from our preliminary

reconnaissance work that is a proof of concept to our exploration model; supporting our interpretation

that the geological setting of the Filion Fault is similar to other well known gold endowed regional

structures that are host to major deposits in northern Ontario. We are very encouraged by the apparent

robust nature of the mineralization where multiple paralleling shear structures are more concentrated

along the Filion Fault, providing an excellent exploration target with scalability adjacent to the Trans-

Canada Highway. This is a rare ground-floor opportunity for major new discovery potential, which we will

be excitedly looking to further advance with drilling in 2024."

Figure 1.

Filion Project location with underlying 1

st

derivative airborne magnetic geophysics at 200 m

line spacing (Source: Canadian and Ontario Geological Surveys) annotated with historical gold

occurrences, rock grab sampling, and structural interpretation.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/6794/194202_d30235bbb48a8bbf_001full.jpg

Figure 2.

Filion West displaying location of anomalous gold in 2023 humus soil samples and 1985 VLF-

EM conductors coincident with linear moderate to high magnetic signatures from airborne geophysics.

Conductors occur within a highly prospective >7 km dilational bend of the Filion Fault, resulting in a

"break" in the east-west trending high magnetic (iron formation) signature.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/6794/194202_d30235bbb48a8bbf_002full.jpg

Humus Soil Sampling Results Discussion:

Field mapping of rare outcrop in 2023 confirmed the historically-reported host lithologies as well as

styles of alteration and mineralization that identifies the Filion Project as an area conducive to gold

endowment, that with a thin veneer of till cover is also an ideal setting for humus soil sampling methods.

The 2023 Filion Project humus soil sampling results were highly anomalous for coincident gold

(predominantly ranging from 5 to 1,320 ppb Au), arsenic (2 to 65 ppm), and molybdenum (1 to 4 ppm).

Arsenic (As) and molybdenum (Mo) are considered indicators for gold mineralization in humus sampling

over thin till overburden at the Williams Gold Mine, part of the Hemlo Mining Camp (Figure 3); where

previous studies yielded gold from 2 to 75 ppb, arsenic from 4 to 12 ppm, and molybdenum from 0.5 to

3.7 ppm; higher values correlated to known mineralized gold zone trends identified in outcrop

4

.

Historical Drill Hole DH 88-7

With the first soil sampling survey ever conducted on the Project area in its maiden 2023 field program

Torr also confirmed that the majority of historical drilling activity did not test the most prospective

mineralized trends or shear structure conductors. Only the historical drill hole DH 88-7 appears to have

intercepted a priority conductor (labelled #2 in Figure 2) along-trend of anomalous gold in 2023 humus

sampling. Although no assays are provided in the historical record the core logs for DH 88-7 describe

quartz veining associated with variable amounts of pyrite-arsenopyrite mineralization and silica-sericite-

tourmaline alteration hosted by metasediments and mafic metavolcanics from 16.7 metres to the end of

hole at 89.9 metres, with veining and alteration being concentrated along the contacts between those

units and an interbedded quartz-feldspar porphyry. Within this interval a section from 49.4 metres to 60.3

metres contained extensive quartz veining with moderate to strong silicification and sericitization

together with enhanced pyrite-arsenopyrite mineralization. This style of strong hydrothermal alteration

and mineralization along-trend of anomalous 2023 humus sampling indicates potential for significant

mineralized intervals associated with identified conductors that will provide Torr with multiple highly

prospective exploration targets in 2024.

Figure 3.

Filion Project location within the prolific gold-endowed greenstone belts of the Wabigoon,

Wawa, and Abitibi subprovinces of northern Ontario. Figure includes the positions as well as total

historical and forecasted production of major regional gold mines.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/6794/194202_d30235bbb48a8bbf_003full.jpg

1

Residen

t Geologist files T-0223, Timmins RGP office, certificate unavailable.

2

Luhta, L. 1985. Ontario Ministry of Natural Resources, Timmins. Resident Geologist files T-0201.

3

Comparisons disclosed are not necessarily indicative of mineralization on the Filion Gold Project.

4

Fortescue, JAC. 1985. A Standardized Approach to the Study of the Geochemistry of Humus, Williams Property, Hemlo, Thunder Bay District.

Ontario Geological Survey. Map 80 716. Geochemical Series. Compiled 1985.

Methodology and QA/QC

The analytical work reported on herein was performed by ALS which is a ISO-IEC 17025:2017 and ISO

9001:2015 accredited Geoanalytical laboratory.

Humus soil samples were subject to screening at 180 microns, and analysis of a 0.5 gram sample

digested in aqua-regia via multi-element ICP-MS (ME-MS41) and gold via a fire-assay atomic

absorption (FA-AA) finish (Au-AA23). Rock channel and grab samples were crushed to 70% passing

<2mm followed by pulverization of a 250 gram sample split to 85% passing 75 microns and analyzed for

34 elements in a four acid digestion via-multi-element ICP-AES (ME-ICP61) and for gold via a FA-AA

finish (Au-AA23). The Company follows industry standard procedures for the work carried out on the

Filion Project. Given the reconnaissance nature of the samples submitted (select rock grab and humus

soil sampling) the Company has relied on the internal quality assurance/quality control (QA/QC)

measures of ALS. In addition, 1 in 20 humus soil samples were collected in duplicate to assess

repeatability. Torr Metals detected no significant QA/QC issues during review of the data.

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 potential of its 100% owned portfolio of district-scale gold and copper projects;

including the ~261 km

2

Filion Gold Project in northern Ontario, ~140 km

2

Kolos Copper-Gold Project in

south-central British Columbia, and ~689 km

2

Latham Copper-Gold Project which includes the Gnat

Pass deposit in northern British Columbia. All projects are located in prolific mining regions with

substantial infrastructure and favourable geology for significant new discovery potential. For further

details please refer to the Company's website or geological Technical Reports (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:

[email protected]

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.

To view the source version of this press release, please visit

https://www.newsfilecorp.com/release/194202