TOREX GOLD RECEIVES KEY ENVIRONMENTAL PERMIT FOR MEDIA LUNA MIA Integral will allow for integrated operations at both ELG and Media Luna
For Immediate Release
TOREX GOLD RECEIVES KEY ENVIRONMENTAL PERMIT
FOR MEDIA LUNA
MIA Integral will allow for integrated operations at both ELG and Media Luna
(All amounts expressed in U.S. Dollars unless otherwise stated)
TORONTO, Ontario, October 3, 2022 – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX: TXG)
announces the Company has received approval from Mexico’s Secretariat of Environmental and Natural
Resources (“SEMARNAT”) o n the key, culminating environmental permit for the Me dia Luna Project. The
approval (“MIA Integral”) allows for operations to begin at Media Luna and builds on the receipt of the MIA
Modification received last year, which allowed for the execution of development activities on the south side of
the Balsas River. The Company has also received approval to increase the power draw at site to 45 megawatts
(“MW”).
Jody Kuzenko, President & CEO of Torex, stated:
“Receipt of the MIA Integral represents another key milestone in the de-risking of the Media Luna Project, and
further demonstrates the ongoing support of local communities and the endorsement of State and Federal
Governments of both the social and environmental facets of this project.
“The MIA Integral follows on the MIA Modification and Change of Land Use permits recei ved over the last two
years and integrates our environmental requirements on both sides of the Balsas River under a single
authorization. With the MIA Integral in hand, the Company now has all the environmental approvals required to
develop and operate Media Luna. Discussions about future in-pit tailings deposition and expanding the
exploration boundaries are ongoing.
“The Company also recently received approval to increase the power draw at Morelos to 45 MW to
accommodate activities at both ELG and Media Luna. Discussions with the utility authorities to further increase
the power draw to 65 MW, required to sustainably deliver full production at Media Luna, are in process as well.”
ABOUT TOREX GOLD RESOURCES INC.
Torex is an intermediate gold producer ba sed in Canada, engaged in the exploration, development, and
operation of its 100% owned Morelos Property, an area of 29,000 hectares in the highly prospective Guerrero
Gold Belt located 180 kilometres southwest of Mexico City. The Company’s principal asset is the Morelos
Complex, which includes the El Limón Guajes (“ELG”) Mining Complex, the Media Luna Project, the processing
plant and related infrastructure. Commercial production from the Morelos Complex commenced on April 1, 2016
and an updated Technical Report for the Morelos Complex was released in March 2022. Torex’s key strategic
objectives are to extend and optimize production from the ELG Mining Complex, de -risk and advance Media
Luna to commercial production, build on ESG excellence, and to grow thr ough ongoing exploration across the
entire Morelos Property.
For further information, please contact:
TOREX GOLD RESOURCES INC.
Jody Kuzenko Dan Rollins
President and CEO Senior Vice President, Corporate Development & Investor Relations
Direct: (647) 725-9982 Direct: (647) 260-1503
[email protected] [email protected]
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Torex Gold Resources Inc.
CAUTIONARY NOTE
Forward Looking Information
This press release contains "forward -looking statements" and "forward -looking information" within the meaning of applica ble Canadian
securities legislation. Forward-looking information also includes, but is not limited to Torex’s key strategic objectives to extend and optimize
production from the ELG Mining Comple x, de-risk and advance Media Luna to commercial production, build on ESG excellence, and to
grow through ongoing exploration across the entire Morelos Property . Generally, forward-looking information and statements can be
identified by the use of forward-looking terminology such as “forecast,” “plans,” “expects,” “strategic” or variations of such words and phrases
or statements that certain actions, events or results “will”, “may,” “could,” or “would” occur. Forward-looking information is subject to known
and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the
Company to be materially different from those expressed or implied by such forward-looking information, including, without limitation, risks
and uncertainties regarding the Company’s ability to satisfy the conditions in the MIA Integral and the risks and uncertainties identified in
the technical report (the “Technical Report”) released on March 31, 2022, entitled “NI 43-101 Technical Report ELG Mine Complex Life of
Mine Plan and Media Luna Feasibility Study”, which has an effective date of March 16, 2022, and the Company’s annual information form
and management’s discussion and analysis or other unknown but potentially significant impacts. Forward -looking information and
statements are based on the assumptions discussed in the Technical Report and such other reasonable assumptions, estimates, analysis
and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and
other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made. Although
the Company has attempted to identify important factors that could cause actual results to differ materially from those conta ined in the
forward-looking information, there may be other f actors that cause results not to be as anticipated. Th ere 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.
Accordingly, readers shou ld not place undue reliance on forward -looking information. The Company does not undertake to update any
forward-looking information, whether as a result of new information or future events or otherwise, except as may be required by applicable
securities laws.