Torex Gold to Restart Operations and Project Activities at the Morelos Complex
Torex Gold to Restart Operations and Project
Activities at the Morelos Complex
Toronto, Ontario--(Newsfile Corp. - December 17, 2024) - Torex Gold Resources Inc. (the "Company" or
"Torex") (TSX: TXG) reports that the Director General of Mines under the Federal Ministry of Economy
has lifted the temporary suspension notice and allowed for all activities within the Morelos Complex to
resume.
Jody Kuzenko, President & CEO of Torex, stated:
"Following notification that the temporary suspension has been lifted by the Director General of Mines, all
production and development activities at the Morelos Complex will resume, including open pit and
underground mining, processing operations, and all activities associated with the Media Luna Project.
With the suspension lifted, our employees and contractor partners can get back to meaningful and
productive work as we complete our own internal investigation.
"Full-year 2024 production guidance remains intact and is tracking towards the lower end of the guided
range of 450,000 to 470,000 ounces of gold. The project schedule for Media Luna remains unchanged
with the four-week processing plant tie-in period on track to commence in February 2025.
"As we ramp up operations and work to conclude our Media Luna Project, we will never forget the tragic
loss of three of our colleagues at ELG Underground and will work with strengthened resolve to ensure the
safety and well-being of everyone in our workplace now and in the future."
ABOUT TOREX GOLD RESOURCES INC.
Torex is an intermediate gold producer based 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") Mine Complex, the Media Luna
Project, a 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: integrate and optimize the Morelos
Property; deliver Media Luna to full production; grow reserves and resources; disciplined growth and
capital allocation; retain and attract best industry talent; and build on ESG excellence.
FOR FURTHER INFORMATION, PLEASE CONTACT:
TOREX GOLD RESOURCES INC.
Jody Kuzenko
President and CEO
Direct: (647) 725-9982
Dan Rollins
Senior Vice President, Corporate Development & Investor Relations
Direct: (647) 260-1503
CAUTIONARY NOTES ON FORWARD-LOOKING INFORMATION
This press release contains "forward-looking statements" and "forward-looking information" within the
meaning of applicable Canadian securities legislation. Forward-looking information includes the
statement that all production and development activities at the Morelos Complex will resume, including
open pit and underground mining, processing operations, and all activities associated with the Media
Luna Project; the confirmation of the full-year 2024 production guidance and that it is tracking towards
the lower end of the guided range of 450,000 to 470,000 ounces of gold, confirmation of the Media Luna
Project schedule and the Company's key strategic objectives. 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
identified in 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 ("AIF") and management's discussion and
analysis ("MD&A") or other unknown but potentially significant impacts. Forward-looking information and
statements are based on the assumptions discussed in the Technical Report, AIF and MD&A 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 contained in the forward-looking information, there may be other
factors that cause results not to be as anticipated. 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. Accordingly, readers should 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. The
Technical Report, MD&A and AIF are filed on SEDAR+ at
www.sedarplus.ca
and available on the
Company's website at
www.torexgold.com
.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/234225