Torex Clarifies Media Misinformation
Corporate Office: 130 King St. West, Suite 1502, Toronto, ON M5X 2A2, Canada – Tel. (647) 260 1500 Fax (416) 304-4000
www.torexgold.com
TOREX CLARIFIES MEDIA MISINFORMATION
TORONTO, Ontario, November 21, 2017 - Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) issued
a statement today in response to misinformation that is being circulated by labour groups and the media.
The Company was made aware of an incident that happened this past weekend in the town of Atzcala, about twenty
five minutes (15Km) from its El Limon Guajes Mine (the “ELG Mine”). During this incident, two men were killed in the
course of a dispute. Torex confirms that the two men were not employees of the Company.
With regards to operations at the Company’s ELG Mine, there is no strike. There is an illegal blockade. Operations
have been shut down at the ELG Mine site since November 3rd as a result of the illegal blockade, which arose because
of a dispute between the union that legally represents the Company’s workers (the “CTM Union”) and the union that
wants to represent the workers (the “Miners Union”). A majority of the Company’s non-staff employees have signed
with the CTM Union. As previously disclosed, there is a government sanctioned process for the Company’s workers to
vote on their preferred union and thereby democratically elec t the union that will represent them. Torex supports this
process and will work with whichever union the workers chose. However, for reasons the Company does not know, the
Miners Union chose to organize a blockade of the ELG Mine and threaten the unionized workers to stop all activities.
Of the Company’s unionized workers, approximately 15% have been participating in the illegal blockade. The remaining
unionized workers continue to be paid at a reduced rate, but have been sent home for safety reasons.
Resolution of this dispute is now in the hands of the Labour Board, which the Company believes is working to engage
the parties, including the Miners Union, in the legal process established to resolve this dispute and select a date for
the union vote to take place. The federal Gendarmerie continues to be present at the ELG Mine for the protection of
the Company’s assets.
Torex is an emerging intermediate gold producer based in Canada, engaged in the exploration, development and
operation of its 100% owned Morelos Gold Property, an ar ea of 29,000 hectares in the highly prospective Guerrero
Gold Belt located 180 kilometers southwest of Mexico City. Within this property, Torex has the El Limón Guajes Mine,
which announced commercial production in March of 2016, the Sub-Sill Project, currently under development, and the
Media Luna Project, an early stage development project for which the Company issued a preliminary economic
assessment (PEA) in 2015. The property remains 75% unexplored.
Contact Information:
TOREX GOLD RESOURCES INC.
Fred Stanford Gabriela Sanchez
President and CEO Vice President Investor Relations
Tel. (647) 260-1502 Tel. (647) 260-1503
Email: [email protected] E m a i l : [email protected]
Torex Gold Resources Inc.
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Corporate Office: 130 King St. West, Suite 740, Toronto, ON M5X 2A2, Canada – Tel. (647) 260 1500 Fax (416) 304-4000
www.torexgold.com
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
This press release contains “forward-looking statements” and “forward-looking information” within the meaning of
applicable Canadian securities legislation. Notwithstanding the Company’s efforts, there can be no guarantee that the
Company will not face unforeseen delays or disruptions. Forward-looking information also includes, but is not limited
to, the availability of the government sanctioned process to resolve the labour dispute, including the vote to elect the
union, the outcome of such process, the time period during which operations may be shut down and the circumstances
of such shut down. Generally, forward-looking informati on can be can be identified by the use of forward-looking
terminology such “purpose”, “budgeted”, “scheduled”, “potentially”, “proposed”, “pending”, “contemplates”, “plans”,
“expects”, “estimates”, “intends”, “anticipates”, “believes”, or “subsequent” or variations of such words and phrases or
state that certain actions, events or resu lts “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur”, or “be
achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that
may cause the activities of the Company to be materially different from those expressed or implied by such forward-
looking information, including, without limitation, those risk factors identified in the Company’s annual information form
and management’s discussion and analysis. Forward-looking information is based on the reasonable assumptions,
estimates, analysis and opinions of management made in ligh t of its experience and its perception of trends, current
conditions and expected developments, as well as other factors that management believes to be relevant and
reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect.
Although the Company believes that the assumptions and expectations reflected in such forward-looking information
are reasonable, undue reliance should not be placed on forward-looking information because the Company can give
no assurance that such expectations will prove to be corre ct. There can be no assurance that such information will
prove to be accurate, as actual results and future events could differ materially from those anticipated in such
information. The Company does not undertake to update any fo rward-looking information, except in accordance with
applicable securities laws.