Torch River Closes Private Placement

Last Update: 2/4/2011 12:15:05 PM

CALGARY, ALBERTA, Feb 4, 2011 (Marketwire via COMTEX) -- Torch River Resources Ltd. ("Torch" or the "Corporation") (TCR) (frankfurt:WNF) (TORV.F) is pleased to announce that it has closed the non-brokered private placement announced January 24, 2011. The Corporation issued 1,030,000 units (the "Units") at a price of $0.075 per Unit for gross proceeds of $77,250 (the "Offering"). Each Unit consists of one (1) common share in the capital of the Corporation issued and one (1) common share purchase warrant (a whole common share purchase warrant a "Warrant") Each whole Warrant entitles the holder to purchase one Common Share of the Corporation at an exercise price of $0.10 for a period of twenty four (24) months from the closing of the Offering.

The insiders of the Corporation subscribed for over 30% of the placement.

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.