• Copper is expected to play an increasingly important role in powering the world’s transition towards net zero technologies
• The average electric vehicle can contain up to 183lbs of copper, a massive 277% increase relative to internal combustion engine cars
• The surge in copper demand is expected to drive a necessary increase in supply, requiring an additional 9.7 million metric tons (Mt) production per annum by 2031. With a deficit of 114,000 tonnes projected for 2023, the copper supply is anticipated to remain in deficit by the beginning of the next decade with a forecasted shortfall of 6.5 Mt
• Torr Metals is looking to fill that supply imbalance through two ongoing highway-accessible copper-gold porphyry projects within two of Canada’s most prolific copper mining districts
• Recent findings in the company’s Kolos Copper-Gold Project have been extremely promising and suggestive of a significant new copper porphyry discovery, within 30 kilometers of Canada’s largest open pit copper mine at Highland Valley

Global warming has become an undeniable force around the globe, with news of widespread droughts, record temperatures, forest fires, and ravaged agricultural harvests increasing in frequency. In response, global leaders came together during 2021’s COP26 event in Glasgow to propose a global Net Zero initiative, aimed towards achieving a balance between global greenhouse gas (“GHG”) emissions and those being removed from the atmosphere. Whilst a number of countries have since published their own legislation, detailing the measures and timeframes through which they expect to achieve a net zero status, there is a common consensus amongst all – the change will not be easy. Forecasts by the International Energy Agency now suggest that to reach global net zero emissions by 2050, annual clean energy investment around the globe will need to more than triple to approximately $4 trillion per annum by 2030 (https://ibn.fm/rDqO8).

The shift away from fossil fuels and towards renewable energy sources is resulting in a spending surge which is set to directly benefit businesses entrenched within the global renewable energy supply chain; in particular, commodities such as Copper – a critical component within green energy technologies – are poised to witness a dramatic uptick in demand.

The average battery electric vehicle (“EV”) today contains approximately 183 pounds of copper per vehicle, a remarkable increase of 277 percent relative to the average copper content of an internal combustion engine-powered car. Metals consultancy Wood Mackenzie has forecast the share of global copper demand coming from ‘green’ sectors, including renewables and EVs to double over the next decade, from approximately 8 percent of demand today to upwards of 16 percent. In Wood Mackenzie’s base case forecast, world copper consumption is set to rise by about 24 percent between 2023 and 2033, reaching about 32 million tons a year (https://ibn.fm/nhBdG).

Nevertheless, the consultancy has forecast that the required increase in global copper supply is yet to materialize, with Wood Mackenzie estimating that a further 9.7Mt of copper supply over the next decade would have to come online to help fulfil the world’s ambitions to limit global warming to 1.5 degrees centigrade as per the statutes of the Paris Agreement. In turn, a failure to drive this increased supply could lead to a growing market deficit, which could underpin a copper price rally to upwards of US$11,000/t (about US$5.00/lb) within a five-year period (https://ibn.fm/zOyta).

Vancouver-based Torr Metals (TSX.V: TMET), a mineral exploration company focused on the identification, acquisition and advancement of mineral properties has sought to address this burgeoning supply-demand imbalance, through its holdings of over 1,000 square kilometers of gold and copper projects, spread across an array of premier low-cost mining jurisdictions, some of which have resulted in promising findings to date – the Kolos Project chief amongst these.

In September 2023, Torr acquired 100% ownership of the district-scale Kolos Copper-Gold Project, nestled within British Columbia’s prime copper-producing belt. Torr Metals recently carried out the first-ever regional sampling program, totaling over 3,300 soil samples spread across a range of 48 square kilometers that has never been drill tested. The analysis unearthed the potential presence of five large zones with high levels of copper (ranging from 200 parts per million to as high as 1,175ppm), suggestive of a substantial clustered copper porphyry deposit boasting strong geological similarities to nearby porphyry deposits (https://ibn.fm/3Cu95). Whilst Torr Metals is still awaiting final results from ongoing rock grab assays and geophysical surveys, as well as the granting of their drill permits, initial findings have placed it in strong stead to capitalize on growing global demand for the red metal going forward.

For more information, visit the company’s website at www.TorrMetals.com.

NOTE TO INVESTORS: The latest news and updates relating to TMET are available in the company’s newsroom at https://ibn.fm/TMET

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