Turmalina Drilling Commences at Chanape

VANCOUVER, British Columbia, Aug. 11, 2022 (GLOBE NEWSWIRE) -- Turmalina Metals Corp. (“Turmalina”, or the “Company”; TBX-TSXV, TBXXF-OTCQX, 3RI:FSE) is pleased to announce the commencement of drilling at the Company’s Chanape Project (the ‘Project’), located 87km east-northeast of Lima, Peru (140 kilometres via roads).

Chanape contains multiple high-grade tourmaline gold-silver-copper (Au-Ag-Cu) breccia pipes. The initial drill phase of 8 to 10 drill holes will test three of thirty breccia zones identified to date. These breccias, and associated mineralized veins, are interpreted to have been sourced from an underlying porphyry copper-molybdenum-silver-gold (Cu-Mo-Ag-Au) system.

In addition to exploring the tourmaline breccia targets, Turmalina will evaluate the deeper porphyry potential of the project.

Previous exploration at the project has already defined multiple high-grade targets and the recently filed independent technical report highlights the outstanding exploration potential of the project. The project is a large system with high-grade Au-Ag-Cu breccia and vein targets and the potential to host significant porphyry Cu-Mo-Au-Ag mineralization (see NI 43-101 technical report titled “National Instrument 43-101 Technical Report on the Chanape Gold-Silver-Copper Project” filed on July 5, 2022 on SEDAR).

CEO and Director, James Rogers, states:

“Chanape represents excellent potential for both high grade and size. Initial fieldwork completed by the Turmalina team along with a concurrent review of past historic data has led to the development of multiple targets and we look forward to information that will be generated during this initial phase of drilling."

Grant of Options

Additionally the Company wishes to announce the grant of 1,550,000 incentive stock options with an exercise price of $0.35 to certain directors, officers, employees and consultants of the company. These options will vest immediately and expire five (5) years from the date of grant.

On Behalf of the Company,

James Rogers, CEO and Director

Website: turmalinametals.com
Address: #488 - 1090 West Georgia St, Vancouver, BC V6E 3V7.
For Investor Relations enquiries, please contact Bryan Slusarchuk at [phone] (toll free) or via [e-mail].

Statements

About Turmalina Metals: Turmalina Metals is a TSXV-listed exploration company focused on developing our portfolio of high grade gold-copper-silver projects in South America. Our focus is on tourmaline breccias, a deposit style overlooked by many explorers. Turmalina Metals is led by a team responsible for multiple gold-copper-silver discoveries who are highly experienced in this deposit style. Our projects are characterised by open high-grade mineralization in established mining and exploration areas that present compelling drill targets. The San Francisco project is in Argentina. For further information on the San Francisco Project, refer to the technical report entitled “NI43-101 Technical Report San Francisco Copper Gold Project, San Juan Province, Argentina” dated November 17, 2019 under the Corporation’s profile at www.sedar.com. The Chanape Project is in Peru. For further information on the Chanape Project, refer to the technical report entitled “NI43-101 Technical Report on the Chanape Gold-Silver-Copper Project, San Damian District, Huarochiri Province, Peru” dated June 20, 2022.