Torq Resources Shareholders Approve Santa Cecilia Joint Venture

Torq Resources Inc. announced that its shareholders have overwhelmingly approved the Santa Cecilia joint venture transaction during the Annual General and Special Meeting held in Vancouver. Shareholder participation reached a record 55.8%, surpassing the 5-year average. A total of 77,643,691 shares were voted, with the majority supporting the venture with Gold Fields.

The agreement allows Gold Fields to earn a 75% interest in the Santa Cecilia project in Chile by investing up to $48 million over six years. This proposal received more than 99% approval from eligible shareholders. The completion awaits TSX Venture Exchange approval and other conditions under the Implementation Agreement.

All nominated directors were elected, and Deloitte LLP was reappointed as auditor. The company's equity incentive plan was also approved. CEO Shawn Wallace expressed gratitude for shareholder support and looks forward to closing the transaction.