CALGARY, ALBERTA--(CCNMatthews - March 1, 2007) - Torch River Resources Ltd. ("Torch")(TSX VENTURE:TCR) is pleased to announce that it has closed a non-brokered private placement of 4,666,667 units ("Units") at $0.15 per Unit with a company controlled by Sprott Asset Management Inc. The private placement closed on February 26, 2007 with a total of 4,666,667 Units being subscribed for representing $700,000.05 in proceeds. The Units are comprised of one (1) Common Share and one (1) Common Share Purchase Warrant entitling the holder thereof to one (1) additional Common Share at an exercise price of $0.18 per Common Share. All of the Common Shares have a hold period which shall expire on June 27, 2007 and the Common Share Purchase Warrants are exercisable until February 26, 2009.

A finder's fee was paid to Fort House Inc., an arm's length third party of Torch, consisting of cash in the amount of 8% of the Units subscribed for and a Broker Common Share Purchase Warrant in the amount of 5% of the number of Units subscribed for (the "Brokers' Warrant"). The Brokers' Warrant entitles the holder thereof to purchase one (1) additional Common Share at a price of $0.18 per Common Share exercisable within a twenty-four (24) month period.

The proceeds of the private placement will be used as working capital to fund the continued work program on the mineral properties held by Torch.

The private placement is subject to receipt of all necessary regulatory approvals.

Torch is a company listed and trading on the TSX Venture Exchange, symbol: TCR.

FOR FURTHER INFORMATION PLEASE CONTACT:

Torch River Resources Ltd.
William E. Pfaffenberger
President
(403) 444-6888

Website: www.torchriver.ca