Torque Metals (TOR) Q1 2026 TU earnings summary

Executive summary

• Achieved significant step-out drilling success at the Paris Gold Project, expanding the mineralised footprint beyond the current 250koz @ 3.1g/t Au Mineral Resource Estimate (MRE).

• Multiple high-grade gold intercepts confirmed new and parallel lodes south and west of the Paris Deposit, with mineralisation traced for over 280m and remaining open in all directions.

• Down-Hole Electromagnetics (DHEM) proven predictive for targeting high-grade gold, enabling efficient capital deployment and systematic exploration.

• Two-rig drilling program and strong financial position support ongoing exploration and resource growth.

Financial highlights

• Cash balance at 30 September 2025 was $4.3 million.

• Received $2.8 million from early exercise of 12.8 million options during the quarter.

• Exploration and evaluation expenditure for the quarter was $0.80 million.

• Net cash used in operating activities was $443,000; net cash used in investing activities was $1.07 million.

• Net cash from financing activities was $2.42 million, resulting in a net increase in cash for the period.

Outlook and guidance

• Entering the December quarter with two rigs, robust financial backing, and an integrated geological-geophysical strategy to accelerate discovery and resource expansion.

• Focus remains on expanding the Paris Gold Project resource and evaluating the broader 57km corridor, which is largely untested.

• Paris is strategically located near major gold producers, enhancing future development potential.