Torrens Mining Limited has received notice that its farm-in partner Coda Minerals Limited (Coda) has earned an additional 19% interest in the Elizabeth Creek Copper Project, following exploration expenditure of an additional $2.75 million (Stage 3 Earning Obligation), bringing its earned interest up to 70%, for an overall expenditure of $6.62 million. Under the terms of the Farm-in and Joint Venture Agreement (Farm-in Agreement) between Coda and Terrace Mining Pty Ltd. (Terrace), a wholly owned subsidiary of Torrens, Coda will now free carry Terrace for an additional $2 million expenditure, upon completion of which a Joint Venture between the parties will be formed to continue exploration and development activities. Following formation of the joint venture, the parties will contribute to the expenditure of the project in accordance with their interest in the project (please refer to Section 6 of Torrens' Prospectus dated 13 November 2020 for a summary of the material terms of the Farm-in Agreement).