VANCOUVER, April 29, 2022 – Torrent Gold Inc.
(CSE: TGLD) (Frankfurt: RV0) (“Torrent” or the “Company”). Following its corporate re-branding to Torrent Gold Inc., the Company would like to provide an update on its proposed acquisition of the Jessup gold-silver exploration project (the “Project”) located in Churchill County, Nevada. The Company and the author of a pending technical report recently conducted a site visit to the Project and await receipt of check sample assays and the final independent NI-43 101 technical report. The Company has exchanged draft documents with the Project owner and expects to complete a definitive agreement for the Project acquisition shortly. Thereafter Torrent anticipates completing an initial financing for the acquisition of the Project. A final Project exploration plan is under development including new detailed resource modeling.
Alexander Kunz, Chief Executive Officer of the Company comments, “Torrent is undergoing a transformation as we deliver on our stated objectives to find advanced, later-stage gold-silver exploration properties.”
About Torrent Gold Inc.
Torrent Gold is a mineral exploration company founded with the express purpose of acquiring and exploring mineral properties during the current resource commodity cycle. Torrent is exploring its grassroots Clover Mountain gold property in Idaho and recently acquired six early-stage gold exploration projects in Nevada and Utah from Liberty Gold. The Company has a Boise, Idaho based technical team that is well positioned to conduct exploration in Idaho, Nevada, and Utah.
ON BEHALF OF THE BOARD OF DIRECTORS
President and Chief Executive Officer
FOR FURTHER INFORMATION PLEASE CONTACT:
Alexander Kunz, President, Chief Executive Officer and Director
Torrent Gold Inc.
1307 S. Colorado Ave. Boise, Idaho 83706
Tyler Ross, Investor Relations
Torrent Gold Inc.
Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
This news release contains certain “forward-looking information” and “forward-looking statements” within the meaning of Canadian securities legislation as may be amended from time to time, including, without limitation, statements regarding the perceived merit of the Company’s properties, including additional exploration potential of its portfolio of exploration projects including Clover Mountain, potential quantity and/or grade of minerals, the potential size of the mineralized zone, metallurgical recoveries, the timing and results of permitting and the Company’s exploration and development plans in Nevada, Idaho and Utah and expectations on the potential extension of any expired mineral concessions and granting of new mineral concessions. Forward-looking statements are statements that are not historical facts which address events, results, outcomes or developments that the Company expects to occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made, and they involve a number of risks and uncertainties. Certain material assumptions regarding such forward-looking statements were made, including without limitation, assumptions regarding the price of gold and silver; the accuracy of mineral resource estimations; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained, including concession renewals and permitting; that political and legal developments will be consistent with current expectations; that currency and exchange rates will be consistent with current levels; and that there will be no significant disruptions affecting the Company or its properties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements involve significant known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to: risks related to uncertainties inherent in the preparation of mineral resource estimates, including but not limited to changes to the cost assumptions, variations in quantity of mineralized material, grade or recovery rates, changes to geotechnical or hydrogeological considerations, failure of plant, equipment or processes, changes to availability of power or the power rates, ability to maintain social license, changes to interest or tax rates, changes in project parameters, delays and costs inherent to consulting and accommodating rights of local communities, environmental risks, title risks, including concession renewal, commodity price and exchange rate fluctuations, risks relating to COVID-19, delays in or failure to receive access agreements or amended permits, risks inherent in the estimation of mineral resources; and risks associated with executing the Company’s objectives and strategies, including costs and expenses, as well as those risk factors discussed in the Company's most recently filed management's discussion and analysis, available on www.sedar.com. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change.