Vancouver, British Columbia--(Newsfile Corp. - July 26, 2024) - Torr Metals Inc. (TSXV: TMET) ("Torr" or the "Company") has initiated judicial review proceedings in the BC Supreme Court, challenging the denial of an exploration permit for the Company's Latham Copper Project (the "Project"), located in northern BC's prolific "Golden Triangle."
Torr applied for its exploration permit in early 2022 following early engagement with the Tahltan Nation, spending approximately 2.84 million dollars in exploration and community relations on the Project. After many months of further constructive discussions, and the signing of two separate agreements with the Tahltan Nation, the Tahltan position suddenly changed and the permit was denied.
In its petition Torr alleges, among other things, that the government decision-maker failed to adhere to relevant legal principles following consultation with the Tahltan Nation, allowing them to determine the outcome, and did not undertake the balancing of interests that the Supreme Court of Canada requires.
"We did not want to end up in court but are profoundly concerned with how the permitting process is currently operating in northern British Columbia," said Malcolm Dorsey, President and CEO. "It stands in stark contrast to what we have experienced elsewhere in Canada, including our Filion Project in northern Ontario, where we recently received our exploration permit."
Rich in critical minerals potential the Latham Project has a long history of exploration dating back to the 1890's that includes the discovery of the Gnat Pass copper porphyry deposit located adjacent to Highway 37, recently slated for significant highway upgrades as part of a $195 million dollar investment by the Province and Energy and Natural Resources Canada. The Latham permit denial came unexpectedly after draft permit conditions had already been shared with the Company and at a time when the need to supply critical minerals, such as copper, are increasingly in demand for clean energy technologies and infrastructure development.
"The government of British Columbia frequently discusses the need for critical minerals, but its actions don't align with its words," added Malcolm Dorsey. "It casts serious doubts on the stability and fairness of the exploration landscape in the region if a company like ours, which has strictly followed all protocols and made substantial accommodations for First Nations, can be denied without proper justification."
In June 2023 Torr also made an access request under the Freedom of Information and Protection of Privacy Act. The original 30-day legislative timeframe has been extended by the government three separate times, and the materials are still being withheld some 400 days later.
In order to pursue other interests Ewan Webster has also stepped down from his role as a director of the Company, effective immediately. We thank him for his contributions and wish him all the best in his future endeavors.
About Torr Metals
Torr Metals, based in Vancouver, British Columbia, is committed to advancing its 100% owned, district-scale projects in highly accessible mining regions of Canada. Focused on critical minerals essential for clean energy technologies, particularly copper, each project benefits from excellent existing infrastructure, year-round drilling potential, and low-cost development opportunities. For more details, please visit the company's website or view documents filed under the company's profile on SEDAR at www.sedarplus.ca.
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: [email protected]
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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.sedarplus.ca. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
