Torch River Resources Ltd.

Published : July 04th, 2007

Purchases New Silver Claims

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Keywords :   Copper | Gold | Market | Molybdenum | Rhenium |
 
 

TORCH RIVER RESOURCES LTD

FOR IMMEDIATE RELEASE July 4, 2007
NEWS RELEASE
 
TORCH RIVER RESOURCES LTD PURCHASES NEW SILVER CLAIMS
Torch River Resources Ltd. ("Torch") (TSXV: TCR) is pleased to announce today that it has entered into an agreement (the "Agreement") with William Pfaffenberger ("Dr. Pfaffenberger") to purchase six (6) mineral claims covering a total of 1,574.5054 hectares at Grouse Mountain, British Columbia (the "Grouse Mountain Claims"):

Tenure Number

Hectares

553757

112.4884

553762

468.7057

553764

187.4284

553767

131.2432

557529

318.5608

557530

356.0789

Torch will pay $33,060 in cash for the Grouse Mountain Claims. The Agreement is subject to regulatory approval and assuming such approval is provided, is expected to close on or about July 25, 2007. Dr. Pfaffenberger is a director and officer of Torch and holds directly or indirectly approximately 2.4 % of the issued and outstanding shares of Torch. Accordingly, the purchase of the Grouse Mountain Claims is a related party transaction. As the fair market value represents less than 25% of the market capitalization of Torch, the Corporation will rely on the exemptions available under OSC Policy 61-501 as adopted by Policy 5.9 of the TSX Venture Exchange in regard to the requirements for valuation of the Grouse Mountain Claims and minority shareholder approval of the Agreement. The Agreement was approved by an independent committee of the Board of Directors of Torch. The purchase price paid Torch for the Grouse Mountain Claims is equal to purchase price paid by Dr. Pfaffenberger for the same. The transaction will not result in the issue of any Torch shares to Dr. Pfaffenberger.
Torch has the Red Bird Property which contains molybdenum and rhenium. Torch also has the High Rock Property which has gold mineralization.
 
It is Torchs objective to carry out a program of geophysics and sampling to investigate the potential of the new property.
Further to our press release of June 7, 2007, Torch has mobilized its camp at its Red Bird property.
Torch has contracted with Neills Mining Ltd to drill up to 8 holes (approximately 7000 feet) in an area of the property which had no previous drilling. This area lies in the northwest region of the 4000 foot by 5000 foot Red Bird intrusion and was identified as a prime target for drilling by the soil and chip sampling and ground geophysics carried out in Torchs 2006 program on Red Bird (see the August 15, 2006 release at our web-site, www.torchriver.ca ).
Torch is expecting that the drill on Red Bird will be mobilized by July 8, with drilling continuing at least to the end of August.
Andris A. Kikauka is a Qualified Person under NI 43-101 and has reviewed and approved the technical data in this press release.
Torch River resources Ltd is a company listed and trading on the TSX Venture Exchange, symbol: TCR.

FOR FURTHER INFORMATION PLEASE CONTACT:

William Pfaffenberger
President and CEO
Torch River Resources Ltd.
Telephone No. (403) 444-6888

For all Torch River investor relations needs, investors are asked to visit the Torch River IR Hub at http://www.agoracom.com/IR/Torchriver where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to tcr@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.

FOR FURTHER INFORMATION PLEASE CONTACT:

John R. Chalcraft, ProActive Communications
#201 - 2383 King George Hwy., White Rock, BC, V4A 5A4
Local:  (604) 541-1995;   Toll free:  1 (800) 540-1995
email: johnchalcraft@shaw.ca

Note:  The following information about the Grouse Mtn. claims appears on the Torch River website www.torchriver.ca.
Grouse Mountain Property -  Near Houston, B.C.

Widespread precious and base metal mineralization grading to 4% copper, 312 oz/ton silver and .33 oz/ton gold occurs in a number of veins on the Grouse Mountain Property. Grouse Mountain is located in central west British Columbia approximately midway between Smithers and Houston. Although as presently defined the veins are not economic because they are too narrow, their depth potential and the potential that mineralization may be part of a larger mineralizing event, is generally unevaluated.

The Julia Vein has a small adit, from which a 2.72 tonne sample was taken in approximately 1939 and which produced 12,548 grams (403 ounces) of silver and 85.3 kgs (3.14%) copper. Torch River is carrying out  a program of ground geophysics, in addition to soil and rock chip sampling on the Grouse Mountain property in the summer of 2007.

 


THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This press release may contain forward-looking statements which may include estimates, plans, expectations, opinion, forecast, projections, guidance or other statements that are not statements of fact, including without limiting the generality of the foregoing, statements made regarding drilling on Torchs Red Bird property. Although Torch believes that the expectations reflected in such forward looking statements are reasonable, it cannot give any assurance that such expectations will prove to be correct. Results of Torch including its ability to mobilize and drill on schedule may be affected by a variety of variables and risks associated with the mining industry such as availability of human and capital resources, competition, exploration and development plans and results, anticipated capital expenditures and financing thereof, timing of applications and approvals. As such the future plans and objectives of Torch are forward-looking statements that involve risk and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in such statements. Torchs forward-looking statements are expressly qualified in their entirety by this cautionary statement. Unless otherwise required by applicable securities laws, Torch does not intend nor does it undertake any obligations to update or review any forward-looking statements to reflect subsequent information, events, results or circumstances or otherwise.

Torch River Resources Ltd.

EXPLORATION STAGE
CODE : TCR.V
ISIN : CA79015E1060
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Torch River is a gold and copper exploration company based in Canada.

Torch River holds various exploration projects in Canada.

Its main exploration properties are MT. COPELAND, GROUSE MOUNTAIN, HIGHROCK ISLAND, NAHMINT and RED BIRD in Canada.

Torch River is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 2.2 millions as of today (US$ 2.2 millions, € 1.6 millions).

Its stock quote reached its highest recent level on December 31, 2007 at CA$ 0.91, and its lowest recent point on April 12, 2013 at CA$ 0.01.

Torch River has 44 888 000 shares outstanding.

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In the News and Medias of Torch River Resources Ltd.
3/22/2008The Hume Report
3/22/2008The Hume Report
Annual reports of Torch River Resources Ltd.
2008 Annual Report
Financings of Torch River Resources Ltd.
10/29/2013Announces Definitive Agreement and a Further Tranche of Priv...
9/18/2013Fwd: Torch River Closes $150,000 Private Placement, Manageme...
9/13/2013Announces Private Placement
8/28/2013Fwd: Torch River closes Private Placement
8/28/2013Closes Private Placement
7/4/2013TORCH RIVER CLOSES (UNRESTRICTED) PRIVATE PLACEMENT
7/3/2013Closes Private Placement
6/3/2013Torch River Announces Closing of Private Placement
5/28/2013Torch River Clarifies Closing of Private Placement
5/28/2013Torch River Arranges $75,000 Private Placement
5/28/2013Announces Private Placement for Proceeds of $75,000
5/16/2013Announces Closing of Private Placement And Sets Date for its...
5/8/2013Announces Private Placements for Proceeds of up to $900,000
3/14/2013Torch River announces private placement
3/13/2013Announces Private Placement
9/24/2012Torch River Private Placement News Release
9/24/2012Announces Private Placement
3/27/2012Torch River Private Placement News Release
1/30/2012Torch River News / Closes Private Placement
11/30/2011TORCH RIVER ANNOUNCES PRIVATE PLACEMENT
5/27/2011Announces Close of Private Placement and Drill Programs
4/25/2011Announces Private Placement
5/6/2010Closes Private Placement
4/1/2010Closes Addition to Private Placement
3/5/2009Closing of Private Placement
9/16/2008Announces Closing of Private Placement
6/27/2008Announces Closing of Private Placement
5/21/2008Announces Closing of Private Placement
5/6/2008Announces Private Placement
Project news of Torch River Resources Ltd.
11/20/2013Saint Jean Carbon (formerly Torch River Resources) proposes ...
11/6/2013Saint Jean Carbon Inc. (formerly Torch River) Featured by Re...
10/29/2013Fwd: Torch River to acquire Wallingford, St. Jovite projects
8/20/2013Torch River Closes Acquisition of Past Producing Walker Lump...
6/13/2013Torch River Resources News Release
5/21/2013Torch River Acquires Graphite Property
1/31/2012Pinetree Capital Increases Ownership of Torch River Shares
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11/12/2009(Mt. Copeland)Rare Earth Potential
6/23/2009(Nahmint)Three Jays, Happy John, Monitor-Nahmint Project Fieldwork Up...
2/12/2009(Nahmint)February 12, 2009
2/12/2009(Nahmint)formally options Nahmint Property
1/19/2009(Nahmint)Torch Signs LOI to Option 75% of Crown Grants & Nahmint Prop...
8/14/2008(Red Bird)More drill results from Torch River
1/11/2008(Red Bird)2008 Technical report
11/6/2007(Red Bird)ANNOUNCES POTENTIAL HIGH GRADE MOLY ZONE AT RED BIRD
10/9/2007(Red Bird)Drill Results on next three holes at Red Bird
9/25/2007(Red Bird)further drill results at Red Bird
9/18/2007(Red Bird)Announces drill results on first three hols at Red Bird
8/27/2007(Red Bird) Red Bird Molybdenum Resource Increased by 40%
7/10/2007(Red Bird)Expands drill program at Red Bird
5/17/2007(Red Bird)Reports on summer drill program
Corporate news of Torch River Resources Ltd.
11/18/2013GOLD REPORT Interview with CEO of Saint Jean Carbon (Torch R...
10/31/2013Torch River changes name to Saint Jean Carbon Inc.
10/18/2013Torch River Signs Definitive Agreement for 113 Sri Lankan Lu...
10/15/2013Fwd: Torch River Achieves Purity Upgrade to 99.1%C on Walker...
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10/9/2013Torch River Signs Term Sheet for 113 Sri Lankan Lump Graphit...
9/3/2013Torch River/Saint Jean Carbon CEO interview
8/15/2013Fwd: Torch River Plans Merger with Sri Lankan Company
8/15/2013Signs Term Sheet for the Acquisition of Wallingford & Saint ...
7/25/2013Torch River Plans Merger with Sri Lankan Company
7/16/2013Torch River Press Release
7/16/2013Announces Advisory Agreement and Shares for Debt Transaction
7/11/2013Torch River News Update
7/11/2013Walker Lump/Vein Graphite Property Composite Grab Sample Yie...
6/28/2013Cancels AGM and Options
6/28/2013Cancels AGM and Options
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6/13/2013Enters Binding Agreement to Acquire Walker Mine, Launches Ne...
5/16/2013Torch River News Release
5/9/2013Torch River News Release
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4/29/2013Torch River halt trading
5/30/2012Torch River News Release
3/26/2012Torch River News Release
2/7/2012Torch River News Release
1/11/2012Torch River News / Identifies 300 metre REE strike length
11/26/2011Torch River News
10/14/2011Pinetree Capital acquires Torch River shares, warrants
9/7/2011Torch River News Release
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4/19/2011expands Fort Elden for copper and zinc, 1700m drill program ...
4/19/2011Expands Fort-Elden for Copper and Zinc
6/28/2010Updates on Geological Work Conducted on the Fort-Elden Prope...
4/26/2010Recent Results from Fort-Elden Copper Property
4/12/2010Options B.C. Copper Property
1/22/2009featured in the Victoria Times - January 22, 2009
1/2/2009option agreement
12/2/2008Resources Provides Copeland Mo Project 2008 Summary
9/19/2008Reports on Red Bird drilling
8/13/2008Reports Drill Update at Mt. Copeland
8/12/2008Reports Drill Results at Red Bird
6/17/2008Announces Drill Programs
5/30/2008Grants Options
5/26/2008Featured on Yahoo Finance Small Cap Show
2/14/2008THE MOUNT COPELAND PROPERTY
2/14/2008 Acquires Mt. Copeland Formerly Producing 2.6M Lbs.. of Mol...
1/15/2008Red Bird Molybdenum Resource Increased by 29%
12/12/2007Torch River announces gold investment in Tagish Lake
11/28/2007ANNOUNCES 2007 RHENIUM RESULTS
10/3/2007Initiating Coverage ; Red Bird Resource Expansion
8/29/2007President on the Radio
8/2/2007Red Bird Drilling Update and Grouse Mountain Approval
7/4/2007Purchases New Silver Claims
6/26/2007and the Owners of Mount Copeland Mutually Agree to Discontin...
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