Torque Metals Unveils Project RPM to Accelerate Growth as Paris Gold Project Resource Jumps 67% to 351,000 Ounces

Paris Gold Project Resource Expansion Sets Stage for Growth Strategy

Torque Metals’ updated Mineral Resource Estimate, released in early July 2026, marks a significant advancement in the company’s asset base at the Paris Gold Project. The global resource now stands at 3.47 million tonnes grading 3.1 grams per tonne gold for 351,000 ounces, encompassing the Paris, HHH, and Observation deposits. This 67% increase from the previous estimate substantially de-risks the project ahead of future development phases. The Paris Deposit experienced even greater growth, rising 67% to 2.01 million tonnes at 3.8 grams per tonne gold for 253,000 ounces.

The enhanced resource estimate incorporates drilling and assay data up to 22 June 2026, including over 31,900 metres of reverse circulation (RC) and diamond drilling at Paris since the last MRE in 2024. Approximately 60% of this drilling occurred in 2026, focusing on in-fill drilling to improve geological confidence and extensional drilling to expand the deposit. Notably, the proportion of the resource classified as Indicated increased to 42%, reflecting a significant upgrade from Inferred status. This improvement provides a stronger foundation for mine planning, development studies, and continued resource growth.

Project RPM’s Three-Pillar Approach Targets 1 Million Ounce Gold Camp

Project RPM is built on three strategic pillars designed to elevate the Paris Gold Project into a high-grade, multi-deposit gold camp in South Kalgoorlie. The first pillar, "Grow the Resource," emphasizes ongoing in-fill and extensional drilling at Paris, HHH, and Observation deposits to convert Inferred resources to Indicated and expand mineralisation beyond current boundaries. This focused exploration aims to substantially increase the resource base by refining geological models and extending high-grade zones.

The second pillar, "Discover New Deposits," involves aggressive exploration of high-priority regional targets such as Catacombs, Strauss, Maynards Dam, and other prospects within the company’s South Kalgoorlie tenure. The third pillar, "Leverage DHEM Success," expands the use of down-hole electromagnetic (DHEM) surveys, proven effective in targeting high-grade sulphide-associated gold mineralisation, across the project area. Collectively, these pillars support Torque’s long-term goal of defining a 1.0 million ounce gold resource grading above 2.0 grams per tonne.

Extension Drilling at Paris Lower 2 Lode Confirms Open Mineralisation

Drilling during the June 2026 quarter confirmed the continuity and scale of the high-grade Paris Lower 2 (PL2) lode, extending mineralisation further down-plunge and remaining open in multiple directions. Key results include 17.1 metres at 2.80 grams per tonne gold (including 6.4 metres at 5.79 g/t Au), 13.3 metres at 1.99 g/t Au (including 7.3 metres at 3.32 g/t Au), and 10.5 metres at 4.18 g/t Au (including 2.0 metres at 15.83 g/t Au). A particularly high-grade intersection of 1.4 metres at 32.33 g/t Au, including 0.4 metres grading 103.00 g/t Au, highlights exceptional-grade material within the system.

The persistence of high-grade mineralisation and evidence of openness down-plunge and laterally underscore significant exploration potential. Management highlighted that DHEM targeting continues to identify extensions to high-grade zones, offering a competitive exploration advantage.

Regional Exploration Advances at Catacombs and Strauss Prospects

Regional exploration accelerated in the June quarter and early July 2026, with drilling initiated at the newly named Catacombs Prospect, which tests structural repetitions south of Paris that may host Paris-style mineralisation. This forms a critical part of Project RPM’s "Discover New Deposits" pillar, aiming to extend known mineralisation styles. Catacombs is considered part of a larger interconnected mineralised system alongside Paris, HHH, and Observation deposits.

Diamond drilling at Strauss Prospect improved geological understanding and confirmed shallow gold mineralisation, supporting ongoing evaluation of this priority target. Geological reviews across South Kalgoorlie continue to identify further opportunities to expand the resource base, reflecting confidence in the region’s substantial untested structural targets.

Leadership Refresh Supports Strategic Shift and Project RPM Launch

Torque Metals refreshed its leadership team alongside the launch of Project RPM and strategic repositioning toward rapid growth of the Paris Gold Project. CEO Craig Jones described the June quarter as a pivotal inflection point, with the company realigned around a disciplined strategy to develop a significant high-grade gold camp in Kalgoorlie. This leadership update underscores the company’s commitment to executing Project RPM with renewed focus and capability.

Jones emphasized that the upgraded 351,000-ounce resource at Paris underpins Project RPM and reinforces confidence in the exploration team’s ability to extend high-grade mineralisation. He noted the Paris system remains open, with DHEM targeting providing a competitive edge. The company has also commenced systematic regional exploration, creating multiple discovery opportunities to grow its gold inventory. This commentary highlights the strategic turning point achieved in the June quarter.

South Kalgoorlie Gold Camp Represents Only a Portion of Exploration Tenure

Torque’s 100% ownership of the Paris Gold Project covers a highly prospective South Kalgoorlie Gold Camp, characterized as under-explored with significant discovery potential. The updated MRE covers only a fraction of the company’s total tenure, which spans approximately 2.5 kilometres of strike and includes numerous untested structural targets. Geological evidence suggests Paris, HHH, and Observation deposits are part of a larger interconnected mineralised system, forming the basis for Project RPM’s strategy to expand beyond current resources.

Ongoing drilling continues to intersect high-grade mineralisation outside the current resource envelope, reinforcing confidence in further resource growth through systematic drilling. The extensive untested strike length, combined with successful DHEM targeting and refined geological methods, positions Torque to pursue multiple simultaneous discovery opportunities. This broad footprint supports Project RPM’s three pillars and the aspiration to define a 1.0 million ounce gold resource grading above 2.0 g/t Au.

DHEM Surveys Deliver Exploration Edge

Torque highlights the effectiveness of down-hole electromagnetic (DHEM) surveys in targeting high-grade sulphide-associated gold mineralisation within South Kalgoorlie. This proven technique has identified extensions to high-grade zones at Paris and is a cornerstone of Project RPM’s "Leverage DHEM Success" pillar. Management regards DHEM targeting as a genuine competitive advantage, enabling the exploration team to detect mineralisation extensions that conventional methods might miss.

The success of DHEM, combined with ongoing refinement of targeting based on new geological data, represents a material edge for Torque in advancing its South Kalgoorlie assets. This focused approach has contributed significantly to recent resource expansions and is expected to continue driving growth and discoveries as Project RPM advances. The methodology prioritizes drilling in geologically prospective areas, enhancing exploration efficiency.

Conversion from Inferred to Indicated Boosts Geological Confidence

A key driver of the 40% global resource increase in the updated MRE was the conversion of 42% of the resource to the higher-confidence Indicated category from Inferred status. This reflects successful in-fill drilling and improved geological understanding at the Paris Deposit, materially de-risking the project and enhancing its appeal for development and financing. The company’s disciplined approach to upgrading resource confidence through targeted in-fill drilling validates geological continuity and strengthens the resource base.

This conversion strategy is central to Project RPM’s "Grow the Resource" pillar. Achieving 42% Indicated classification demonstrates the effectiveness of this approach, which enhances stakeholder confidence and positions Torque favorably for future development discussions. This methodical confidence-building supports the company’s realistic pathway toward project advancement.

Robust Drilling Program Sustains Exploration Momentum

Throughout the June 2026 quarter, Torque completed approximately 31,900 metres of combined RC and diamond drilling at the Paris Deposit since the 2024 MRE. This substantial drilling effort underscores the company’s commitment to systematic resource growth and discovery-driven exploration. About 60% of this drilling occurred during 2026, focusing on in-fill to boost geological confidence and extensional drilling to increase deposit size.

The Project RPM framework, announced post-quarter, aims to maintain and potentially increase drilling intensity across multiple projects and prospects within South Kalgoorlie. With demonstrated success at Paris, HHH, and Observation deposits, and expanding regional exploration at Catacombs, Strauss, Maynards Dam, and others, Torque is positioned for a multi-year exploration campaign. The strong drilling results, resource expansion, and resource classification upgrades signal growing exploration momentum as the company advances Project RPM.