Gold Fields Atacama Holdings Inc, a wholly-owned indirect holding subsidiary of Gold Fields Limited has announced the acquisition of a 15,000,000 common shares in the capital of Torq Resources Inc. from treasury at a price of C$1.00 per Torq Share for total gross proceeds to Torq of C$15,000,000.

According to the South African based Mining Company, the purchase was completed pursuant to an investment agreement between GFAH and Torq dated September 6, 2022. Immediately prior to the entering into of the Investment Agreement and the issuance of the Torq Shares contemplated thereunder, GFAH did not own nor had control over any Torq Shares. Upon completion of the purchase, GFAH owns 15,000,000 Torq Shares, representing approximately 15.05% of the issued and outstanding Torq Shares.

GFAH is acquiring the Torq Shares for investment purposes. GFAH will continue to monitor the business, prospects, financial condition and potential capital requirements of Torq. Depending on its evaluation of these and other factors, and subject to certain pro rata participation rights and a maximum ownership percentage limit of currently 15.05% of the issued and outstanding Torq Shares as set out in the Investment Agreement, GFAH may from time to time in the future increase or decrease its direct or indirect ownership, control or direction over the Torq Shares or other securities of Torq through market transactions, private agreements, subscriptions from treasury or otherwise.

ABOUT GOLD FIELDS
Gold Fields has nine operating mines in Australia, Peru, South Africa and West Africa (including the Asanko JV) and one project in Chile.

Gold Fields has total attributable annual gold-equivalent production of 2.2Moz, attributable gold-equivalent Mineral Reserves of 51.3Moz and Mineral Resources of 115.7Moz