TXG.TO · 2017-02-13 12:00:00

Torex Reports High-Grade Intercepts from Sub-Sill Step Out Holes

Drill Results

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 REPORTS HIGH-GRADE INTERCEPTS FROM SUB-SILL STEP OUT HOLES

TORONTO, Ontario, February 13, 2017 – Torex Gold Resources In c. (the “Company” or “Torex”) (TSX:TXG) is pleased to announce

the results of the first round of its step out drilling program for its Sub-Sill target. Highlighted intercepts from this prog ram include 112.7

g/t Au over 3.9m and 23.9 g/t Au over 5.8m in borehole SST-15, 33.7 g/t Au over 2.9m in borehole SST-06, 23.0 g/t Au over 7.4m

and 19.4 g/t Au over 16.0m in borehole ST-07, and 23.2 g/t Au over 4.1m in borehole SST-09.

Fred Stanford, President & CEO of Torex stated: “These encourag ing high grade results indicate that the Sub-Sill mineralization is

open to the north, south, and east, and is also open at depth. A resource estimate that includes today’s results is expected t o be

completed in Q2/17. Another step out drill program is being planned and drilling is expected to commence this quarter. This p rogram

will also seek to probe the extension of mineralization at greater depths, and to identify the source of the magnetism that pas t studies

have indicated is present.” He added: “The 600 meter ramp to access the Sub-Sill has now advanced more than 250 meters and

remains on schedule for completion by mid-year. The ramp will also continue to advance toward the El Limon Deep target that is under

the El Limon pit, and above the ‘’Sill’. Mine planning is underway, and it is expected that processing of Sub-Sill material will commence

before the end of the year.”

Highlights from the step-out exploration drilling at the El Limon Sub-Sill

BH ID Interval (m) Interval

Length (m) Au (g/t) Ag (g/t) Cu (%) Lithology From To

SST-06 68.15 71.06 2.9 33.7 12.1 0.3 Skarn

SST-07 140.78 148.13 7.4 23.0 31.9 1.2 Skarn

SST-07 256.76 272.80 16.0 19.4 28.2 1.0 Skarn

SST-09 118.39 122.50 4.1 23.2 25.6 1.2 Skarn

SST-10 64.50 80.00 15.5 14.9 2.4 0.0 Skarn

SST-15 114.65 120.45 5.8 23.9 4.2 0.1 Skarn

SST-15 134.58 138.49 3.9 112.7 39.2 1.3 Skarn

SST-36 274.53 285.12 10.6 9.1 36.2 3.4 Skarn

Note:

True thickness of the mineralized zone is unknown and is reported as drill hole length

Please refer to Table 1 for a complete list and expanded description of the borehole intercepts reported in this press release. Refer to

Figure 1 for general borehole location.

These are the final 11 holes of an initial 34 hole, 7,727 meter, diamond drill program to explore the high-grade mineralized ar ea located

between the El Limon and El Limon Sur ore deposits and under the El Limon Sill. This 34 hole program tested an area of

approximately 350 meters by 150 meters. The positive results of the later holes of the initial drill program, confirm the cont inuity of the

mineralization and the strength of the system as reported in the previous 23 holes. This new in formation indicates that the sys tem

remains open along strike, down-dip to the northwest and up-dip to the southeast. It also confirms the existence of high-grade

mineralized skarns at greater depths. The mineralized areas are located between 30 and 285 meters below surface.

The El Limon Sill area occurs in the Mesozoic carbonate-rich Morelos Platform, which has been intruded by Paleocene granodiorit e

stocks, sills and dikes. Skarn-hosted gold mineralization is developed along the contacts of the intrusive rocks and the enclosing

carbonate-rich sedimentary rocks. Structurally , the El Limon Sill target area as well as El Limon and El Limon Sur ore deposits are

hosted in a graben bounded by La Flaca fault to the west and the Antena fault to the east, and both are considered to be potent ial

feeders for the mineralization. At the El Limon Sill area, several skarn zones have been identified along the contacts of the c arbonate

rich sediments and marbles of the Cuautla and Morelos formations and sills fingering out from the main granodiorite stock. Indi vidual

Torex Gold Resources Inc. Page 2

Corporate Office: 130 King St. West, Suite 740, Toronto, ON M5X 2A2, Canada – Tel. (647) 260 1500 Fax (416) 304-4000

www.torexgold.com

high grade ore zones have been intercepted in all the different skarn horizons. Within the skarn zones individual ore shoots va ry in

strike length from approximately 50 meters up to 200 meters, with apparent widths varying from 2 meters to 27 meters.

Mineralization at the El Limon Sill area is primarily gold, associ ated with variable contents of silver and copper. Gold occurs in low and

high sulfidized pyrrhotite rich skarns, while silver and copper mineralization is primarily determined by the degree of sulfida tion of the

host skarn. Mineralization is strongly associated with a late stage retrograde alteration characterized by amphiboles, chlorite , calcite ±

quartz ± epidote, affecting pyroxene-garnet marble related exoskarn and granodiorite porphyry related endoskarn. Locally

mineralization occurs in narrow lenses of massive sulfides.

QA/QC and Qualified Person

At the Morelos Gold Project, all of the El Limon Sill target analytical work is performed by SGS de Mexico S.A. de C.V. ("SGS") in

Durango, Mexico and at SGS Mineral Services in Vancouver, British Columbia, Canada and ALS Chemex de Mexico S.A. de C.V.

Sample preparation is done at SGS sample preparation laboratory in Durango, Mexico. The gold analyses (fire assay with an atomi c

absorption or gravimetric finish) are completed at SGS analytical laboratory in Durango, Mexico and multi-element geochemical

analyses are Copper Sequential Leaching are completed at their analytical facilities in Vancouver, British Columbia, Canada. Ch eck

assays samples are analyzed at ALS Chemex Vancouver, BC, Canada. SGS and ALS Chemex are independent of the Company.

The Company has a Quality Assurance/Quality Control (“QA/QC”) program in place that includes 5% of each of the certified refere nce

materials, blanks and field duplicates. 10% of pulp samples are analyzed at a second laboratory as part of the QA/QC program to

ensure the batch to batch relative bias remains constant and t hat absolute accuracy at anomalous to near cut-off grades is meas ured

and acceptable. The QA/QC program as designed has been approved by Bureau Veritas and is currently overseen by Carlo Nasi,

Chief Mine Geologist for the Morelos Gold Project.

The scientific and technical data contained in this news release pertaining to the Morelos Project has been reviewed and approv ed by

Mr. Mark P. Hertel as a Qualified Person under NI 43-101. Mr. Hertel is a Registered Member of the Society for Mining, Metallurgy &

Exploration, has experience relevant to the style of mineralization under consideration and is an independent consultant. Mr. Hertel has

verified the data disclosed, including sampling, analytical, an d test data underlying the drill results and he consents to the inclusion in

this release of said data in the form and context in which it appears.

Additional information on the El Limon deposit and analytical labs is available in the Company’s most recent annual information form

filed on SEDAR at www.sedar.com and the Company’s website at www.torexgold.com.

Torex is an emerging intermediate gold producer based in Canada, engaged in the exploration, development and operation of its 1 00%

owned Morelos Gold Property, an area 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 Ma rch

of 2016 and the Media Luna Project, which is in an advanced stage of exploration, and for which the Company issued a preliminar y

economic assessment (PEA) in 2015. The property remains 75% unexplored.

For further information, please contact:

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]

CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS

This press release contains “forward-looking statements” and “for ward-looking information” within the meaning of applicable Can adian securities

legislation. Forward-looking information includes, but is not li mited to, information with respect to the drill program for the El Limon Sub-Sill area and

the results of the drill program contained herein, plans for an additional step out drilling program, future exploration and de velopment plans of the

Company, completion of the ramp access to the targets as descr ibed herein, the potential for mining the El Limon Sub-Sill area, and the timing of an

updated mineral resource estimate. Generally, forward-looking in formation can be identified by the use of forward-looking term inology such as

Torex Gold Resources Inc. Page 3

Corporate Office: 130 King St. West, Suite 740, Toronto, ON M5X 2A2, Canada – Tel. (647) 260 1500 Fax (416) 304-4000

www.torexgold.com

“plans”, “expects”, “estimates”, “intends”, “anticipates” or “believes” or variations of such words and phrases or state that c ertain actions, events or

results “may”, “could”, “would”, “might”, or “will be taken”, “occur”, or “be achieved”. Forward-looking information is subjec t 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, the ri sk associated with the

variability of skarn deposits, the risk that actual results of current exploration and development activities will not achieve expectations and other 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 managem ent made in light of its experience and its perception of tr ends, 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 informatio n because the

Company can give no assurance that such ex pectations will prove to be correct. There can be no assurance that such information will prove to be

accurate, as actual results and future events could differ material ly from those anticipated in such information. The Company d oes not undertake to

update any forward-looking information, except in accordance with applicable securities laws.

From To

(m) (m) (m) g/t g/t %

SST-06 Sub-Sill 422510.92 1989858.05 1158.38 90 -72 150.00 68.15 71.06 2.9 33.7 12.1 0.3 Skarn

140.78 148.13 7.4 23.0 31.9 1.2 Skarn

256.76 272.80 16.0 19.4 28.2 1.0 Skarn

67.22 71.35 4.1 10.3 50.5 2.3 Skarn

83.05 92.45 9.4 5.5 30.0 1.1 Skarn

140.89 143.36 2.5 18.9 33.6 1.2 Skarn

91.71 97.80 6.1 14.7 3.7 0.2 Skarn

118.39 122.50 4.1 23.2 25.6 1.2 Skarn

139.90 146.67 6.7 6.7 14.4 0.6 Skarn

64.50 80.00 15.5 14.9 2.4 0.0 Skarn

93.25 96.22 3.0 11.1 3.7 0.1 Skarn

SST-11 Sub-Sill 422517.59 1989840.11 1150.91 95 -65 101.20 98.38 99.91 1.5 3.5 8.8 0.2 Skarn

114.65 120.45 5.8 23.9 4.2 0.1 Skarn

134.58 138.49 3.9 112.7 39.2 1.3 Skarn

SST-16 Sub-Sill 422348.54 1989829.52 1193.58 275 -85 314.60

SST-17 Sub-Sill 422555.27 1989831.73 1154.92 95 -60 101.50 80.04 81.36 1.3 16.3 27.2 0.9 Skarn

SST-31 Sub-Sill 422331.27 1989725.14 1128.79 130 -70 300.00 134.03 136.32 2.3 9.4 8.6 0.3 Skarn

SST-36 Sub-Sill 422395.47 1989863.16 1185.09 0 -90 302.50 274.53 285.12 10.6 9.1 36.2 3.4 Skarn

Notes:

True thickness of the mineralized zone is unknown and is reported as drill hole length

The gold values used to calculate the intercept compoasite are uncapped

-71 150.00

No Intercepts

SST-15 Sub-Sill 422399.22 1989845.46 1175.20 95

-68 120.00SST-10 Sub-Sill 422406.57 1989800.12 1143.41 90

-90 221.70

SST-09 Sub-Sill 422385.11 1989765.80 1138.58 80 -81 200.50

SST-08 Sub-Sill 422509.53 1989858.06 1158.42 0

SST-07 Sub-Sill 422453.12 1989886.99 1173.58 0 -90 317.80

Cu LithologyDip (°)

Total

Length

(m)

Intersection Core

Length Au AgAzimuth

(°)Drill-Hole Target

Area UTM-E (m) UTM-N (m) Elevation

(m)

And

2.4m - 230.7 g/t Au

2.4m - 84.1 g/t Au

SST-19

8.1m - 16.0 g/t Au

5.2m - 14.8 g/t Au

And

SST-13

7.0m - 14.9 g/t Au

6.7m - 6.7 g/t Au

3.3m - 17.3 g/t Au

4.1m - 23.2 g/t Au

9.5m - 9.6 g/t Au

1.0m - 103.2 g/t Au

6.1m - 14.7 g/t Au

And

SST-29

SST-09

And

9.4m - 5.5 g/t Au

4.1m - 10.3 g/t Au

2.5m - 18.9 g/t Au

SST-08

8.7m - 13.6 g/t Au

SST-30

7.5m - 14.3 g/t Au

TMP-1408

3.5m - 8.7 g/t Au

2.9m - 33.7 g/t Au

3.9m - 112.7 g/t Au

5.8m - 23.9 g/t Au

4.9m - 8.6 g/t Au

1.5m - 50.4 g/t Au

1.8m - 6.2 g/t Au

4.3m - 83.3 g/t Au

5.6m - 25.5 g/t Au

6.4m - 7.0 g/t Au

8.0m - 12.5 g/t Au

1.8m - 11.2 g/t Au

2.2m - 1.4 g/t Au

10.6m - 9.1 g/t Au

And

2.3m - 20.1 g/t Au

3.4m - 317.8 g/t Au

3.8m - 7.4 g/t Au

8.6m - 8.0 g/t Au

SST-23

SST-16

2.4m - 10.9 g/t Au

1.9m - 8.9 g/t Au

SST-12

SST-04

SST-36

SST-01

SST-28

SST-32

SST-35

SST-34

SST-14

SST-33

SST-22

SST-15

SST-06

no intercepts

2.1m - 125.8 g/t Au

13.3m - 22.6 g/t Au

And

SST-27

3.2m - 3.9 g/t Au

SST-24

2.5m - 17.5 g/t Au

5.5m - 19.3 g/t AuAnd

TMP-1409

1.9m - 42.8 g/t Au

SST-26

3.4m - 23.9 g/t Au

SST-05

2.3m - 9.4 g/t Au

SST-31

9.6m - 19.6 g/t Au

SST-25

2.8m - 6.8 g/t Au

SST-03

6.5m - 7.2 g/t Au

3.0m - 11.1 g/t Au

3.4m - 12.1 g/t Au

15.5m - 14.9 g/t Au

And

SST-02

SST-10

1.3m - 10.6 g/t Au

TMP-1423

1.5m - 3.5 g/t Au

1.3m - 16.3 g/t Au

SST-11

SST-17

0.7m - 12.9 g/t Au

7.4m - 23.0 g/t Au

TMP-1425

SST-07

1.6m - 1.3 g/t Au

SST-21

16.0m - 19.4 g/t Au

And

Legend

Previously Released

Intercepts

New Intercepts

El Limón pit limit

Proposed Tunnel

Limón Sur pit limit

0 25 50 100m

422.400

422.200

1.990.000

1.989.800

1.989.600

422.600

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