Torque Metals Advances Paris Gold Resource 40% and Launches Project RPM to Target 1Moz Camp

Major Resource Upgrade Fuels Ambitious Growth Strategy

Torque Metals (ASX:TOR) has delivered a significant boost to its Paris Gold Project, increasing the Mineral Resource Estimate (MRE) by 40% to 351,000 ounces at a solid 3.1 grams per tonne gold. This update, announced in early July, forms the cornerstone of the newly launched Project RPM (Rapid Path to one Million ounces), a bold strategy to transform the South Kalgoorlie Gold Camp into a substantial high-grade gold hub.

The Paris Deposit alone saw a 67% jump in contained gold to 253,000 ounces at 3.8g/t, reflecting successful in-fill drilling and a marked conversion of Inferred resources into the higher-confidence Indicated category. This enhanced geological certainty provides a firmer foundation for future development and resource expansion.

Project RPM: A Three-Pronged Push for Growth and Discovery

Project RPM integrates systematic resource growth, aggressive regional exploration, and expanded use of down-hole electromagnetic (DHEM) surveys to accelerate discovery and resource definition. The strategy targets a long-term aspiration of defining a 1.0 million ounce gold resource grading above 2.0g/t across multiple deposits within the South Kalgoorlie tenure.

The three pillars underpinning Project RPM include ongoing in-fill and extensional drilling at Paris and nearby deposits, aggressive testing of high-priority regional targets such as the Catacombs and Strauss prospects, and leveraging successful DHEM targeting to pinpoint sulphide-associated high-grade mineralisation. This approach aims to build a scalable, high-grade inventory capable of supporting future development.

Drilling Confirms High-Grade Extensions and New Targets

Drilling during the quarter confirmed the continuity and scale of the Paris Lower 2 (PL2) lode, extending mineralisation approximately 350 metres beyond the current resource boundary and remaining open in all directions. Notable intercepts included 17.1m at 2.80g/t Au (including 6.4m at 5.79g/t), and a standout 1.4m at 32.33g/t Au featuring a 0.4m bonanza grade of 103g/t.

Regional exploration has also accelerated, with the Catacombs Prospect, interpreted as a structural repetition of Paris, showing encouraging sulphide structures and gold anomalism. At the Strauss Prospect, located along the Boulder–Lefroy Fault, recent diamond drilling extended known mineralisation zones, confirming down-dip continuity and highlighting the prospect's potential as a new discovery area.

Government Grants and Corporate Refresh Support Exploration Drive

Torque secured two Western Australian Government Exploration Incentive Scheme grants totaling $287,530 to co-fund geophysical surveys and drilling at Paris, underscoring external confidence in the project's potential. These funds will enhance targeting precision ahead of further resource growth initiatives.

Corporate governance has been strengthened with a refreshed leadership team following a general meeting in April. Craig Jones was appointed Managing Director and CEO, supported by non-executive Chairman Simon Lawson and Director David Coyne. The company also appointed Tejal Magan as Company Secretary in May.

Capital structure changes included a $3 million raise through the issue of over 11 million shares to new management and directors, alongside the issuance of 40 million performance rights. As of 30 June 2026, Torque held $13.6 million in cash, with the majority of expenditure focused on exploration activities.

Upcoming Catalysts and Exploration Focus

Looking ahead, Torque plans to continue resource growth drilling targeting further extensions of the PL2 lode, complete additional DHEM surveys to generate new drill targets, and advance regional drilling at Catacombs and Strauss under Project RPM. The company also intends to evaluate further regional opportunities to support the development of a multi-deposit South Kalgoorlie Gold Camp.

While the aspiration to build a 1.0 million ounce high-grade gold camp remains subject to exploration success and other uncertainties, Torque enters the next quarter with strong momentum, multiple active drilling programs, and a clear strategic focus on rapidly expanding its resource base.