Vancouver, British Columbia (BC) -- (January 31, 2024) – Torr Metals Inc. (“Torr” or the "Company") (TSX-V: TMET.V) is pleased to announce preliminary assay results from 896 of a total 3348 soil samples collected during the 2023 field program on the 100% owned 140 km² Kolos Copper-Gold Project, located adjacent to Highway 5 and 23 kilometers (km) north-northeast of the city of Merritt, British Columbia.

The initial results are derived from soil samples specifically gathered to explore potential extensions to mineralization observed in limited exposures of outcrop. Soil results yielded up to 723 parts per million (ppm) copper (Cu) and 474 parts per billion (ppb) gold (Au) within two newly identified envelopes of >200 ppm Cu that highlight significant large-scale mineralization measuring 1300 metres (m) by 750 m and 950 m by 550 m at the Lodi and Kirby Zones, respectively (Figure 1).

Zones of anomalous copper and gold at Kolos occur across a 3 km trend, coinciding with a 6 km north-south trending magnetic high anomaly that is typically associated with major porphyry deposits elsewhere within the region.

Highlights include:

• Outcropping Mineralization within Kilometre-Scale Soil Anomalies: 2023 soil sampling has confirmed robust copper-gold mineralization aligning with exposures of mineralized outcrop, where select historical rock grab sampling yielded 4.42 grams per tonne (g/t) Au, 0.52% Cu, and 11.3 g/t silver (Ag) at the Kirby occurrence and (see November 16, 2023 news release).

• Highly Anomalous Copper-Gold with Additional Assays Pending: Of the 896 soil samples analyzed, 394 showed highly anomalous concentrations exceeding 50 ppm Cu, with 129 surpassing 100 ppm Cu, and 27 samples registering over 200 ppm Cu; additionally, 37 soil samples exhibited values greater than 20 ppb Au (Figure 1). Pending assays for 2,452 soil samples will further assess the expansion potential of the Lodi and Kirby Zones, along with four additional exploration targets to the north.

• District-Scale with Untested New Discovery Potential: The Kolos Project comprises six road-accessible copper-gold-molybdenum occurrences (Kirby, Lodi, Ace, Rea, Helmer, Clapperton) that remain untouched by drilling. The forthcoming results from the completed 2023 surface geochemical field program combined with an extensive property-wide ZTEM survey will pinpoint specific targets for future potential drilling.

• Strategic Location within Major Porphyry Belt: The Project occupies a pivotal position within one of the most productive porphyry belts in British Columbia and showcases comparable Late Triassic calc-alkaline and alkaline intrusions that have given rise to major deposits and long-life mines in the region. With its strategic location, Kolos emerges as a prime contender for major new discovery potential within a similar geological setting to surrounding deposits including Highland Valley (30 km to the northwest), New Afton (30 km to the north), and Copper Mountain (106 km to the south).

Malcolm Dorsey, President and CEO, commented, “Our findings not only highlight key locations of interest at Kirby and Lodi but also underscore the unprecedented nature of our initial 2023 results, revealing a 3 km trend of anomalous copper and gold that has previously not been defined in this area. Alongside its advantageous location next to a highway, this discovery positions Torr as a significant new player in the Quesnel Trough, one of British Columbia's most productive porphyry belts. We eagerly await the remaining geochemical assays and ZTEM data, anticipating that they will unveil additional exploration opportunities by assessing both the expansion potential of existing targets and new areas across the project.”

Figure 1. Preliminary soil sample results and annotated target locations on the Kolos Copper-Gold Project, highlighting zones of anomalous copper in soil (>200 ppm) overlying a regional RMI-VD geophysical survey.

2023 Exploration Program

The 2023 Kolos exploration initiative involved the meticulous collection of 3348 soil samples, strategically spaced at 50 m intervals, with 100 m line-spacing dedicated to known historic mineral occurrences. A further 300 m reconnaissance line spacing covered the remaining grid area spanning approximately 48 km² (Figure 1). The pending assays for 2452 soil samples and 47 rock samples hold the promise of unveiling new discoveries. Moreover, a Z-Tipper Axis Electromagnetic (ZTEM) airborne geophysical survey has been carried out across the extensive 140 km² Project area. After final processing, Torr's technical team is set to interpret the data which will paving the way for identifying future exploration upside.

Torr is currently in the process of obtaining a drill permit for the Kolos Project.

Quality Assurance and Control

Results from samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 and ISO 9001:2015 accredited facility). A secure chain of custody is maintained in transporting and storing of all samples. At ALS the “B” horizon soil samples underwent screening to 180 microns under the ALS code PREP-41. The samples were digested using Aqua Regia and analyzed via ICP-MS and ICP-AES using a 25g sample aliquot under the ALS code AuME-TL43. The Company follows industry standard procedures for the work carried out on the Kolos Project. Due to the reconnaissance nature of the soil sampling the Company relied on the internal quality assurance quality control (“QA/QC”) measures of ALS. Torr Metals detected no significant QA/QC issues during review of the data.

Qualified Person

The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc., P.Geol., P.Geo., a consultant to the Company who is a qualified person defined under National Instrument 43-101.

About Torr Metals

Torr Metals is a Vancouver based mineral exploration company focused on defining and developing the substantial exploration potential of its 100% owned portfolio of district-scale gold and copper projects; including the ~261 km² Filion Gold Project in northern Ontario, ~140 km² Kolos Copper-Gold Project in south-central British Columbia, and ~689 km² Latham Copper-Gold Project which includes the Gnat Pass deposit in northern British Columbia. All projects are located in prolific mining regions with substantial infrastructure and favourable geology for significant new discovery potential. For further details please refer to the Company's website or geological Technical Reports (August 24, 2021) filed on November 25, 2021 under the Company's profile on SEDAR at www.sedar.com.

On behalf of the Board of Directors
Torr Metals Inc.

"Malcolm Dorsey"

Malcolm Dorsey
President, CEO and Director

For further information:
Malcolm Dorsey
Telephone: 236-982-4300
Email: malcolmd@torrmetals.com

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Cautionary Statement Regarding Forward-Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings, and the future plans or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management's discussion and analysis which is available on the Company's profile on SEDAR at www.sedar.com. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.