Torch River Announces Private Placement

CALGARY, ALBERTA, Jan 24, 2011 (Marketwire via COMTEX News Network) --

Torch River Resources Ltd. ("Torch" or the "Corporation") (TSX VENTURE:TCR) (FRANKFURT:WNF) (U.S. PINK SHEETS:TORVF) is pleased to announce a non-brokered private placement of up to 1,000,000 units (the "Units") at a price of $0.075 per Unit for gross proceeds of approximately $75,000 (the "Offering"). Each Unit will consist 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 will entitle 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.

Torch anticipates that Insiders of the Corporation will subscribe for over 30% of the placement.

The private placement is expected to close on or about February 4, 2011.

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.