Overview of Torque Metals' funding announcement

Torque Metals Limited (ASX:TOR) has successfully secured firm commitments from sophisticated and professional investors to raise $3.1 million through a share placement. The funding will be primarily directed towards accelerating exploration at the Company's flagship Paris Gold Project, following the recent announcement of a high-grade gold Mineral Resource Estimate. The Placement was oversubscribed and strongly supported by existing shareholders and high net worth investors, demonstrating ongoing confidence in Torque Metals' potential.

Executive commentary on the funding and future work program

I am delighted to announce the successful completion of a strongly supported share placement, securing A$3.1 million from sophisticated and professional investors. These funds will be primarily directed towards accelerating exploration at the Company's flagship Paris Gold Project, which includes targeted work in the area of the recently released Mineral Resource Estimate. With the support of this capital injection, Torque Metals is now fully funded to keep up momentum with its aggressive exploration and drilling activities across its tenements, strategically located adjacent to world-class deposits including Invincible, St. Ives, Beta Hunt, and Mount Belches Mining Centre. The Company is well-positioned to expand its high-grade resource base and further extend the Paris Gold Project's Mineral Resource Estimate, released earlier this week. We thank shareholders for their support and look forward to unlocking the full potential of our valuable gold assets and deposits.

Summary of Torque Metals' funding and future plans

Torque Metals Limited (ASX:TOR) has successfully raised $3.1 million through a share placement, with the majority of the funds allocated to drive exploration at its Paris Gold Project and drilling activities in its adjacent tenements. The Company aims to accelerate its aggressive exploration and drilling activities, leveraging the capital injection to expand its high-grade resource base and extend the Paris Gold Project's Mineral Resource Estimate. Additionally, Torque Metals plans to make a milestone payment of $250,000 to the vendor of Paris Gold Project and allocate funds for general working capital purposes. The future work program at Paris Gold Project includes ongoing drilling programs, metallurgical studies, and a Scoping Study focused on Indicated Mineral Resources. The Placement was oversubscribed, indicating strong support and confidence in Torque Metals' projects. The Company remains focused on developing high-quality assets and pursuing prospective opportunities in the resources sector.