Torch River Resources Ltd.
TSX VENTURE : TCR
FRANKFURT : WNF
PINK SHEETS : TORVF

Torch River Resources Ltd.

March 04, 2009 09:00 ET

Torch River Resources Ltd.: News Release

CALGARY, ALBERTA--(Marketwire - March 4, 2009) -

Technical Report on the Nahmint Property

Torch River Resources Ltd. ("Torch" or the "Corporation") (TSX VENTURE:TCR) (FRANKFURT:WNF) (PINK SHEETS:TORVF) is pleased to announce a technical report titled "Technical Report On The Nahmint Property" dated February 9, 2009 (the "Technical Report"). The Technical Report has been prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). The Technical Report was prepared by Jasques Houle, P.Eng., independent "qualified person" as that term is defined in NI 43-101.

The Technical Report is available on Torch's website at www.torchriver.ca and SEDAR at www.sedar.com.

Terms of the Nahmint Option Agreement

As previously disclosed in its press release dated February 12, 2009, Torch entered into an option agreement effective February 9, 2009 whereby it may earn up to a 75% interest in the Nahmint Property (the "Nahmint Option Agreement"). Under the terms of the Nahmint Option Agreement, Torch shall earn up to a 75% interest in the Nahmint Property by paying the vendors up to an aggregate of $351,000 over 5 years, spending up to $1,350,000 on work programs on the Nahmint Property over 5 years and issuing up to an aggregate of 10 million shares to the vendors over 5 years. The Nahmint Property shall be subject to a net smelter royalty of 2%, payable to the vendors, of which 1% can be purchased by Torch for $1,000,000. Further, all of the consideration shall be divided by the vendors based upon their ownership percentage, with there being no finders' fee payable. Torch shall be the operator for the projects conducted on the Nahmint Property.

Torch is a company listed and trading on the TSX Venture Exchange, symbol: TCR.

For all Torch River investor relations needs, investors are asked to visit the Torch River IR Hub at http://www.agoracom.com/IR/Torchriver where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to tcr@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.

Forward Looking Information

This press release may contain forward-looking statements which may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact, including without limiting the generality of the foregoing, statements made regarding the Nahmint Property. Although Torch believes that the expectations reflected in such forward-looking statements are reasonable, it cannot give any assurance that such expectations will prove to be correct. Results of Torch including its ability to mobilize and drill on schedule may be affected by a variety of variables and risks associated with the mining industry such as availability of human and capital resources, competition, exploration and development plans and results, anticipated capital expenditures and financing thereof, timing of applications and approvals. As such the future plans and objectives of Torch are forward-looking statements that involve risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in such statements. Torch's forward-looking statements are expressly qualified in their entirety by this cautionary statement. Unless otherwise required by applicable securities laws, Torch does not intend nor does it undertake any obligation to update or review any forward-looking statements to reflect subsequent information , events, results or circumstances or otherwise.

Neither 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 release.

Contact Information

  • Torch River Resources Ltd.
    William E. Pfaffenberger
    President and Chief Executive Officer
    (403) 444-6888
    Website: www.torchriver.ca
    or
    ProActive Communications Co.
    Local Vancouver: (604) 541-1995 or Toll Free: 1-800-540-1995