Torque Metals : Gold Anomalies Provide Evidence of a Paris Gold Corridor

For personal use only

15 March 2022

NEW GOLD ANOMALIES PROVIDE FURTHER EVIDENCE OF A PARIS GOLD CORRIDOR

Highlights

• Highly anomalous auger geochemistry results (up to 249ppb), highlight a ~600m continuous NNW trending gold anomaly close to the "Paris South" prospect
• Two additional gold anomalies identified in a previously unexplored area, approximately 3.7kms to the SSE of the Paris Mine - "Pavarotti" and "Carreras"
• All anomalies line up in a NNW orientation and further confirm the potential for a "Paris Gold Corridor"
• Initial RC drilling already underway at the Paris South prospect with further drilling planned to test the ~600m long anomaly
• First drilling of newly identified Carreras and Pavarotti prospects to commence in near future
• Geochemistry surveys planned for north of Observation discovery

Torque Executive Chairman Mr Ian Finch said:

"It is highly exciting that our geochemical programme has identified a gold anomaly spanning some 600 metres and two separate, and distinct, gold anomalies in a previously unexplored area. All new anomalies line up in a north-north-west orientation. This provides further weight to our "Paris Gold Corridor" model, confirming that we are on the right track to significantly increasing our gold resource base.

We have already kicked off RC drilling at the Paris South prospect while aircore drilling is planned for Carreras and Pavarotti. In addition, new geochemistry surveys are being plannedfor north of Observation - so it's going to be a busy period ahead for the company with lots of news flow."

Perth-based, Western Australian-focused gold explorer Torque Metals Limited ("Torque" or the "Company") is pleased to announce results of an auger based geochemical soil sampling program at the Company's wholly-owned Paris Project, located on the richly gold endowed Boulder-Lefroy Fault Zone, south east of Kalgoorlie.

The program covered approx. 6 kilometres of the gold mineralised corridor to the south of the Paris Pit with the aim of extending the Paris Gold Corridor southwards.

Torque received results from 341 auger sample points located 100m apart on E-W lines 250m apart (broadly spaced). (See Figure 1). The results identified a ~600m continuous NNW gold

For personal use only

Torque Metals Limited ASX Announcement

15 March 2022

anomaly exists close to the "Paris South" prospect - approx. 1.5 km to the SSE of the Paris mine with a peak value of 249ppb.

In addition, the results highlighted two distinct gold anomalies in the previously unexplored area, approx. 3.7kms to the SSE of the Paris Mine - "Pavarotti" and "Carreras".

Figure 1: Location of auger sample points and gold geochem anomalies

Importantly, all the recent gold geochemical anomalies line up in an NNW orientation and further confirm the potential of a "Paris Gold Corridor".

Figure 2: Torque's current campaign along the Boulder Lefroy Corridor

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Torque Metals Limited ASX Announcement

15 March 2022

Next Steps

An initial RC drilling campaign is already underway at the Paris South prospect with further drilling planned to test this anomaly.

At the Carreras and Pavarotti areas, anomaly enhancement drilling (Air Core) will be undertaken to test these two anomalies when a suitable rig becomes available.

Meanwhile, the Company is planning to undertake new geochemistry surveys to the north of the Observation discovery in the second half of the year.

The Paris Project

Torque's Paris Project lies within the area known as the Boulder-Lefroy Fault Zone (Figure 3). This prolific gold-bearing structure is host to numerous mines that have produced many millions of ounces of gold. Not least of these mines is the world famous "Super Pit" in Kalgoorlie. Torque's Paris Project area remains vastly underexplored, with past drilling generally restricted to the top 50 metres, highlighting significant opportunities for discovery of gold mineralisation by the application of modern-day exploration techniques and the undertaking of more extensive, and deeper, drilling.

Torque has already undertaken a two drilling campaigns at Paris with the objective of better defining the zones most likely to rapidly increase the project's gold resource base.

Figure 3: Paris Project located within the Boulder-Lefroy Fault Corridor

COMPETENT PERSONS STATEMENT - EXPLORATION RESULTS

The information in this announcement that relates to Exploration Results is based on information compiled by Mr Ian Finch, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Finch is an employee of Torque Metals Limited ("the Company"). Ian Finch has sufficient experience which is relevant to the style of mineralisation and type of deposit

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Torque Metals Limited ASX Announcement

15 March 2022

under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Ian Finch consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

FORWARD LOOKING STATEMENTS

This report may contain certain "forward-looking statements" which may not have been based solely on historical facts, but rather may be based on the Company's current expectations about future events and results. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis.

However, forward looking statements are subject to risks, uncertainties, assumptions and other factors which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Readers should not place undue reliance on forward looking information. The Company does not undertake any obligation to release publicly any revisions to any "forward-looking statement" to reflect events or circumstances after the date of this report, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

This announcement has been authorised by the Board of Torque Metals.

ENDS

For further information, please contact:

Ian D. Finch Executive Chairman [e-mail] M: [phone]

Media

David Tasker / Colin Jacoby

Chapter One Advisors

[e-mail]/ [e-mail]

1. [phone] / [phone]

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Torque Metals Limited ASX Announcement

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Appendix 1: Laboratory assay results and auger collar coordinates.

Only gold assays > 0.05 ppb are recorded in the following table. Auger holes were drilled to 2-5m depth to collect a clean sub-surface sample. No individual RLs were recorded.

Easting			Northing		Auger Hole No		Au
							(ppb)
404300		6505000		A005	7
404500		6505000		A007	11
404300		6504750		A018	7
404300		6504500		A031	21
404900		6504500		A037	31
404100		6504250		A042	8
404500		6504250		A046	13
405000		6504250		A051	8
404800		6504000		A053	9
405000		6504000		A055	15
405000		6503750		A061	22
405100		6503750		A062	9
405100		6503500		A068	8
404800		6503250		A071	7
405200		6503250		A075	9
405300		6503250		A076	8
404900		6503000		A078	6
404800		6502750		A083	7
405000		6502750		A085	21
404800		6502500		A089	9
405300		6502500		A094	8
405400		6502500		A095	11
405100		6502250		A108	7
404800		6502000		A121	7
404900		6502000		A122	15
405100		6502000		A124	19
405300		6502000		A126	11
405400		6502000		A127	12
405900		6502000		A132	9
405100		6501750		A140	249
405400		6501750		A143	43
405600		6501750		A145	10
406000		6501750		A149	12
405200		6501500		A157	7
405300		6501500		A158	6
406100		6501500		A166	8
405400		6501250		A175	7
405500		6501250		A176	22
405700		6501250		A178	7
405800		6501250		A179	6

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