Fire Mountain Project Technical Presentation | January 2020

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Forward Looking Statements

Readers should not rely on information in this summary for any purpose other than for gaining general knowledge of Torr Resources Corp. (The Company). References are made herein to historical geologic and technical information. By its nature, this information cannot be verified. A Qualified Person has not verified the underlying historical information including but not limited to sampling, analysis, and test data. Torr Resources Corp. has assumed that this historical information is accurate and complete in all material aspects and, while the Company has carefully reviewed all the available information, it cannot guarantee its accuracy and completeness. The content of this presentation is for information purposes only. This information is not intended to be and should not be construed in any way as part of an offering or solicitation of securities. No securities commission or other regulatory authority in Canada, the United States or any other country or jurisdiction has in any way passed upon the information contained in this summary.

This presentation contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate to future events or future performance and reflect Torr Resources Corp. management’s expectations or beliefs regarding future events and include, but are not limited to, statements with respect to the ability to raise funds and the availability of funds, future plans for exploration and development, including the obtaining of necessary permits, the potential of the Company properties to contain mineralization, whether or not at economically interesting grades, the timing of exploration and development work, and the appointment of management and directors. These forward-looking statements are made as of the date of this presentation and the Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law. Forward-looking statements include, but are not limited to, the advancement of mineral exploration, development and operating programs. The words “potential,” “suggest,“anticipate,” “forecast,” “believe,” “estimate,” “expect,” “may,” “project,” “plan” and similar expressions are intended to be among the statements that identify forward-looking statements. The Company does not warrant or make any representations as to the ongoing accuracy of this information, the validity or completeness of any facts or information contained in this summary report. The Company may revise this information in subsequent publications but does not assume the obligation to update any information. The Company shall not be liable or responsible for any claim or damage, direct or indirect, special or consequential, incurred by the reader arising out of the interpretation, reliance upon or other use of the information contained in this summary. This presentation contains information about adjacent properties on which the Company does not have the right to explore or mine. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company’s properties. Although the Company believes that its expectations as reflected in any forward-looking statements, are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements.

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Torr Resources Corp.

About Torr Resources Corp.

Torr Resources Corp. (The Company) is a private, Canadian-based mineral exploration company actively exploring its 100% owned Fire Mountain Project with Cu-Au skarn-porphyry mineralization in the heart of BC’s historic New Westminster Mining District. The Company is also evaluating its newly acquired 100% owned Bendor Project with Au-vein mineralization, located within the highly productive Bridge River gold belt. We bring a new perspective to proven districts of the southern Canadian Cordillera by looking at large-scale crustal controls that improve the identification of potentially large mineral system emplacement. Our objective is to generate future projects by identifying and advancing previously undervalued assets within cost-effective districts that contain highly prospective targets.

Management and Technical Team

Malcolm Dorsey, President/Director: Malcolm Dorsey is an exploration geologist who has spent his career on a broad range of consultant and management projects in the mining and petroleum industries in western North America since 2011. He has extensive knowledge in mineral exploration related to skarn, vein-gold, VMS, and lead-zinc deposits along the Coast-Cascade Orogen of British Columbia. His completion of an MSc thesis in Structural Geology at the University of Calgary honed his technical skills and knowledge on structurally-controlled ore generation along the Coast-Cascade Orogen, having focused on re-characterizing district-scale structures of the historic Westminster Mining District of southwest British Columbia. Most recently he has consulted for early and late-stage exploration and mining projects in central and northwest British Columbia, including epithermal and mesothermal vein-gold, polymetallic-veining, VMS, and intrusion-related gold-veining. Previously he has consulted on lead-zinc and skarn-gold exploration in southern British Columbia, in addition to more advanced projects including banded iron formation gold deposits in Nunavut, VMS in Saskatchewan, and epithermal vein-gold in Nevada.

Cameron Dorsey, VP Exploration: Cameron Dorsey has overseen and participated in several successful exploration programs throughout Nunavut, Yukon, British Columbia, Quebec, and Alberta since 2011. He has experience in both grassroots and advanced exploration programs, specializing in VMS and vein-gold exploration. In his most recent role as a Project Geologist, he supervised exploration programs for Sabina Gold & Silver in the Back River Gold District, an emerging gold district in Nunavut. Cameron Dorsey holds a degree in Geology and an MSc in Structural Geology from the University of Calgary. His MSc thesis was focused on the linkages between the Insular Superterrane and North American margin as recorded by the Late Cretaceous Queen Charlotte Group in Northwest British Columbia, a region closely associated with one of Canada’s premier mining districts.

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Fire Mountain Project - British Columbia

• Flagship Project Located in Southern British Columbia, ~220 km from Vancouver

• Low Risk Low Capital Copper-Gold Growth

• Mining-Friendly Jurisdiction

• Skilled and Experienced Team

• Large-scale Cu-Au Skarn-Porphyry Mineralization

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Fire Mountain Project Highlights

• Largely underexplored ~4400 ha section along a crustal-scale fault system

• Located within the Gambier Group, host to a number of prospects and past producers consisting of Cu-Au porphyry, vein-gold, and VMS mineralization

• Historic trenching of tuff breccia on southern flank assayed up to 1.4 g/t Au, 0.91% Cu, 19 g/t Ag

• Historic tuff breccia rock samples assayed up to 3.91g/t Au, 0.2% Cu, 10.8 g/t Ag

• Historic quartz-vein stockwork samples assayed up to 4.16 g/t Au,1.88% Cu, 65 g/t Ag

• 360km line airborne magnetometer-VLF-electromagnetometer survey identified a large magnetic high with long conductor trends along a potential dilation in the Fire Creek Fault (~5.5 km strike)

• Analogous to regional producers including the Copper Mountain Mine with a total mineral resource of 518 Mt grading 0.15% Cu, 0.08 g/t Au, and 0.84 g/t Ag with a 0.12% Cu cut-off grade as of September 1, 2018 (2018 NI 43-101 Technical Report for the Copper Mountain Project)

• Ideal infrastructure in project area – road networks and power transmission, ~220 km by road from Vancouver, British Columbia

• Well-designed plan to systematically identify zones with greatest potential for future mineral exploration and a commitment to sustainable practices and high environmental standards

• New 2019 discovery of skarn-porphyry mineralization assaying up to 15 g/t Au, 1.58% Cu, 52 g/t Ag

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Cu-Au-Fe Skarns in British Columbia

• Wrangellia and Quesnellia terranes have the greatest size, number, and metal production for Fe and Au skarns in British Columbia (Ray et al. 1995)

• Wrangellia also contains 173 (51%) total known Cu skarn occurrences in British Columbia, while Quesnellia contains 64 (19%) (Ray and Webster 1997). The Fire Mountain Project is located on the eastern margins of Wrangellia within the Cascade Magmatic Arc Porphyry Belt

• Based on 2019 field analysis and comparisons made by Ray (2013), the Fire Mountain Property contains stratiform mineralization with similar tectonic settings to a number of Cu skarn-porphyry deposits including 10) Craigmont; 12) Greenwood (Phoenix); 17) Copper Mountain-Ingerbelle (porphyry-related); 19) Galore Creek (porphyry-related); 9) Whitehorse Cu Belt (Copper King, Carlisle, Pueblo, Valerie, Grafter, Arctic Chief, War Eagle)

• The Fire Mountain Project is largely underexplored and has never been drill tested

Figure modified from Ray (2013).

Fire Mountain Project

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• The Fire Mountain Project is situated within the Miocene Arc of the Pemberton Belt

• Also known as the Cascade Magmatic Arc Porphyry Belt, which extends from British Columbia to Oregon State

• The Cascade Magmatic Arc Porphyry Belt consists of Late Cretaceous to Paleogene plutonism above an active subduction zone

• The Miocene Arc contains numerous porphyry deposits, including the Giant Copper Deposit (4.5 Mt 0.47% Cu, 0.38 g/t Au, 11.19 g/t Ag) (Schroeter 1999) in British Columbia, as well as the Margaret Deposit (523 Mt 0.36% Cu, 0.24 g/t Au, 1.6 g/t Ag), and Glacier Creek Deposit (1.7Bt 0.33% Cu) (Singer et al. 2008) in Washington State

Figure modified from Wells and McCaffrey (2013).

Location in the Cascade Porphyry Belt

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Regional GeologyUnderexplored with Cu-Au skarn-porphyry correlations to the Copper Mountain-Ingerbelle Deposits

• Fire Mountain Project – Land Selection Criteria

• Major NW-SE longitudinal structures – potential crustal-scale marking the eastern boundary of the Wrangellia Terrane, could provide structural control of stratiform ore lenses as at the Copper Mountain-Ingerbelle Deposit

• Bend in major steeply-dipping structures (FCF=Fire Creek Fault) with distinct calcareous sedimentary and volcanic host rocks within the historically productive Gambier Group – excellent stratigraphic, geochemical, and structural ground preparation for concentration of Cu-Au mineralization

• Large NE structures - including the regionally extensive Glacier Creek Fault, likely act as conduits for mineralized Miocene intrusives such as the proximal Rogers Creek Pluton

Figure compiled and modified from Bustin et al. (2013), Journeay and Friedman (1993), and Brown et al. (2000).

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Fire Mountain Project - Land TenureTorr Resources Corp.

100% owned Fire Mountain Project

~4400 ha

Glacier Lake Fault

Fire Creek Fault

Map based on Lynch (1992) and field interpretations by Torr Resources Corp.

• ~10 km of strike-parallel to major shearing along the potentially crustal-scale Fire Creek Fault and bounded to the west by the major Glacier Lake Fault

• Regional-scale opportunity within the Miocene Arc of the Cascade Magmatic Arc Porphyry Belt

• Calcareous volcanic host rocks are both chemically reactive and physically capable of maintaining long-lived permeability - traits essential for megaskarn deposits in the Canadian Cordillera

Rogers Creek Pluton

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Fire Mountain Project - Potential Cu-Skarn

Fire Mountain Project – Cu-Au Skarn Mineralization (porphyry-related)

• Significant Au, Cu, and Co mineralization is associated with magnetite veins, lenses, and blebs that are most common near an interpreted transitional potassic zone

• An iron oxide plot (Dupuis and Beaudoin 2011) suggests magnetite on Fire Mountain is geochemically similar to skarn-type deposits

• Potentially sourced from the Rogers Creek Pluton - host to a number of prospective Cu-porphyry zones

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Fire Mountain Project - Cordillera Skarn Development

Figure modified from Ray (2013).

• The Fire Mountain Property is strongly structurally-controlled by two large NW and NE-trending fault-shear systems (Fire Creek Fault and Glacier Lake Fault), intruded by the Miocene Rogers Creek Pluton - host to a number of Cu-porphyry prospects

• Faults, dikes, and sill margins related to the major NW and NE-trending structures together with bedding and lithologic contacts have likely acted as conduits and a focus for hydromagmatic fluids during skarn development

• Cu skarns hosted by mafic tuffs (examples include the Copper Mountain-Ingerbelle deposit) have an exoskarn of epidote, actinolite, biotite, chlorite that is also typical of alteration identified on Fire Mountain

• The Fire Mountain Property contains numerous occurrences of sulphide precipitation within an exoskarn envelope associated with late hydromagmatic retrograde alteration

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Regional Geochemical Survey (RGS)

Rock sample assays from Torr Resources Corp. 2019 field season verified Fire Mountain as the most likely source for anomalous ~34-67 ppb Au, previously found in stream sediment and watershed analysis by the British Columbia Regional Geochemical Survey

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Fire Mountain Project - Selection Criteria

Discrete shears within an ~81m - wide shear corridor containing NW-trending quartz-sulphide veinlets concentrated along the contact between volcanic breccia (KBHv) and overlying tuff (KBHI)

A Jog in major NW-striking Fire Creek Fault with historic shear-parallel Cu-Au veins - geometry favorable to focusing metal-rich hydromagmatic fluids

Magnetite veins and lenses up to 10 cm thick are typically crosscutting the shear zone, increased dilation was observed within more competent host rock (KBHv)

Northeast-trending structures including the Glacier Lake Fault are likely conduits for mineralized Miocene intrusives such as the Rogers Creek Pluton

Rogers Creek Pluton

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Selection Ground Criteria - Vein Overprints

A

A’

B

B’

NW-trending shear-hosted Cu-Au vein locations that parallel the Fire Creek Fault, potentially late stage metal-rich hydromagmatic fluids migrating into the long-lived middle Cretaceous to Miocene Fire Creek Fault system

Rogers Creek Pluton

Glacier Lake Fault

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Conceptual Cross-Section Fire Mountain Claims

• A-NW-trending Cu-Au brecciated quartz vein• B-Volcanic breccia with sulphide replacement• C-Magnetite-chalcopyrite-epidote alteration• D-Massive Cu-Au magnetite veins with epidote alteration

Cross-section based on Lynch (1992) and reconnaissance fieldwork by Torr Resources Corp.

KPa-arkose-slate

KTI-metavolcanics-pelite-gneiss

KBHI-lapilli tuff-pyroclastic volcanics-rhyolite-breccia

KBHg-volcaniclastic sandstone-feldspathic greywacke-slate-phyllite

KBHv-andesite-volcanic conglomerate-breccia-intermediate flows

KBHt-crystal tuff-slate-muscovite phyllite

Diorite

Granodiorite0 2 41

Kilometers

Conceptual SW-NE Cross-Section of Fire Mountain Project Claim Area

SW NE

SW NE

A A’

B B’

A

B

C

A B

C D

2cm 2cm

D

Legend Cu-Au magnetite veins follow late syn-kinematic NE structures that also control Miocene pluton emplacement

Sulphide replacement of dacitic tuff breccia clasts

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Project Geology

Interface between dacitic tuff breccia and calcareous tuff (KBHv/KBHg) – Excellent stratigraphic and geochemical controls for late syn-kinematic Cu-Au mineralization

~10 kmLarge-scale syncline within a jog of the Fire Creek Fault – Good ground preparation for strong structural controls of metal-rich hydromagmatic fluids from the Rogers Creek Pluton

Rogers Creek Pluton

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Total Magnetic Intensity - Historic

Airborne magnetometer surveys were conducted simultaneously at Fire Mountain and Doctors Point (~35km to the southeast) in 1983. Drill core at Doctors Point outlined a direct association of high magnetic intensity with high susceptibility minerals including pyrite, arsenopyrite, and gold mineralization

Head of the anomaly shows steep magnetic gradients suggesting good chemical activity

Major lenticular magnetic anomaly appears to parallel the mapped Fire Creek Fault - suggestive of strong structural controls

Fire Creek Fault

Glacier Lake Fault

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Infrastructure

Torr Resources Corp.100% owned Fire Mountain Project

~4400 ha • Excellent network of forestry roads that connect with British Columbia Highway 99 ~100km to the north-northwest

• Major transmission line following the Lillooet River

• Railroad ~100km to the north-northwest

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Historic Sampling - Au

Fire Creek Fault

FKR06 Au 26.25g/t

FNR 7 Au 13.63g/t

• Structural Cu-Au veins never drill tested• Veins occur in both the hanging wall and

foot wall of the Fire Creek Fault• Includes the historic NW-trending Money

Spinner vein, reported as ~1.2m wide with ~300m strike-length

• Historic chip samples assayed 26.25 g/t Au (FKR06) at the Money Spinner and 13.63 g/t Au from another vein (FNR07) to the east (O’Keeffe and Verbruggen 1990)

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2019 Rock Sampling - New Au Discoveries

• Moderate Au-Cu correlation within new magnetite-vein discoveries overlying a high magnetic anomaly

• New discoveries include Cu-Au magnetite veins concentrated within a ~81m - wide strongly-sheared corridor paralleling the Fire Creek Fault exploiting the interface between dacitic tuff breccia and overlying calcareous tuff

• System remains open to the Northwest and Southeast

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Historic Sampling - Cu

• Cu is concentrated within magnetite veins and disseminated within altered dacitic tuff breccia (KBHv) and overlying calcareous tuff (KBHg) (Assay values by O’Keeffe and Verbruggen 1990)

• No historic systematic sampling or scaled-mapping in hanging wall of Fire Creek Fault - Severely underexplored

FDR 139 Cu 1.1%

FDR 126 Cu 1.86%

FDR 125 Cu 1.88%

FKF 17 Cu 4.1%

Fire Creek Fault

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2019 Rock Sampling - New Cu Discoveries

• Moderate to strong Cu-Ag correlations identified within 2019 rock samples

• A moderate Cu-Au and moderate to strong Cu-Ag statistical correlation is analogous to the Copper Mountain-Ingerbelle deposit

Fire Creek Fault

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2019 Rock Sampling - Stratigraphy

~2.4km

~1.4km

~2km

Unsampled extensions totaling ~3.8 km along-strike to the NW and SE. The dilated zone between the Fire Creek Fault and Rogers Creek Pluton is ~2 km wide

Fire Creek Fault

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Higher total magnetic intensity coincident with higher concentrations of mineralization along a jog in the Fire Creek Fault

~2.4km

~5.5km

2019 Rock Samples - Total Magnetic Intensity

Drill results at Doctors Point, ~35km to the southeast along the extension of the Fire Creek Thrust identified a direct association between high magnetic intensity and high susceptibility minerals including pyrite, arsenopyrite, and gold mineralization

Fire Creek Fault

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2019 Rock Samples and Alteration - Au

The highest-grade Au assays occur within sulphide-rich magnetite veins exposed within and proximal to a zone of transitional potassic alteration encompassed by a broader propylitic envelope. Potassic alteration and magnetite veining appears concentrated along contacts between the NW-trending tuff breccia (KBHv) and overlying calcareous tuff (KBHg)

Fire Creek Fault

KBHv - Tuff Breccia

KBHg - Tuff(Calcareous)

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2019 Rock Samples and Alteration - Bi

Mapping Bi concentrations could be a useful tool for vectoring Au-rich lenses at Fire Mountain, due to a strong Au-Bi correlation: Bi has previously been considered a pathfinder element for porphyry-related gold mineralization, such as at the Canyon Porphyry Deposit in Nevada (Theodore and Blake 1975)

KBHg - Tuff(Calcareous)

KBHv - Tuff Breccia

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2019 Rock Samples and Alteration - Cu

KBHg - Tuff(Calcareous)

KBHv - Tuff Breccia

Fire Creek Fault

Cu mineralization styles:• Sheeted Cu-Au quartz-magnetite-

chalcopyrite-pyrite veins• Propylitic alteration with hematite-

magnetite-chalcopyrite replacements and/or veins with disseminated chalcopyrite occurring within intense siliceous alteration

• Propylitic alteration of tuff breccia with thicker lenses and veins of magnetite-chalcopyrite-pyrite accompanied by common malachite-azurite haloes

• Transitional potassic and propylitic alteration zones containing disseminated chalcopyrite-bornite-pyrite-malachite-azurite with mineralized epidote-quartz veinlet stockwork

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2019 Rock Samples and Alteration - Co

Potential for Co mineralization hosted by metasedimentary rocks in British Columbia:• Strong Co-Au correlation

(assays up to 0.12% Co) within magnetite veins and lenses on the Fire Mountain property

• Black Pine deposit (metasedimentary rock-hosted Co-Cu-Au) located within the Idaho Cobalt Belt contained mineable Co-Cu-Au lenses up to 0.08% Co, 1.03 g/t Au, 4.5% Cu within a broader Cu-rich mineralized zone (Slack, 2013)

KBHv - Tuff Breccia

KBHg - Tuff(Calcareous)

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Fire Mountain Project Highlights

• ~4400 ha along a crustal-scale fault system proximal to the Miocene Rogers Creek Pluton

• Analogous to Cu-skarn and Cu-Au porphyry deposits at the Copper Mountain - Ingerbelle Projects

• Area selection based on first-principle geologic criteria for Cu-skarn and Cu-Au porphyry deposits of the Canadian Cordillera

• Project located in British Columbia, one of the most mining-friendly jurisdictions in Canada with attractive tax incentives and policies for investors in exploration projects

• The low risk, low capital Fire Mountain Project is severely underexplored and never drilled

• ~5.5 km long ~2.4 km wide along-strike total magnetic anomaly outlining prospective Cu-Au skarn mineralization that exploits Fire Creek Fault system structures and lithological contacts, with direct associations between magnetic intensity and sulphide mineralization in the region

• 2019 mapping and sampling has outlined a drill-ready target zone of transitional potassic alteration within a propylitic envelope, with coincident rock sample assays up to 15 g/t Au, 1.58% Cu, 52 g/t Ag, 0.12% Co. Excellent stratigraphic, geochemical, and structural ground preparation for concentration of Cu-Au skarn mineralization

• Ideal infrastructure in project area – road networks and power transmission, ~220 km by road from Vancouver, British Columbia

• Well-designed plan to systematically identify zones with the greatest potential for future mineral exploration and a commitment to sustainable practices and high environmental standards

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Fire Mountain Claims Project 2020 Mineral Exploration Cost EstimateGeological Mapping/Prospecting/Sampling

2 Field Geologists @ $500/day x 24 days $24,000

Diamond Drilling

Drill Pad Construction

1000 meters @ $250 per meter all in (includes drilling, accommodations, helicopter, assay costs)2 drill pads @ $1000 per pad

$250,000

$2000

Helicopter Field Support

Helicopter charter for camp setup/demob. and support (Black Tusk Helicopters Inc.), 8 hrs at $2500/hr

$20,000

Camp Supplies/Food 4 persons @ 24 days at $40 pp/day $3840Sample Analysis/Assay

200 rock samples @ $39/sample (MS Analytical)400 soil samples @ $37/sample (MS Analytical)

$7800$14,800

Support Personnel Core logger, sampler/splitter 10 days @ $300/dayCook, 24 days @ $350/day

$3000$8400

Geophysical Survey 2 line kilometre Mag @ $5000/day $10,000Report Writing 2 Geologists 10 days @ $600/day

(drafting,compilation, report write-up)$12,000

Contingencies @ 10% $35,584(Not Including Taxes) Expenses Subtotal $391,424

Fire Mountain 2020 Budget Proposal

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