Torex Gold Resources Inc. is pleased to announce the signing of a binding commitment letter with Bank of Montreal, BNP Paribas, Commonwealth Bank of Australia, ING Bank N.V., Société Générale, and The Bank of Nova Scotia in connection with a planned US $375 million 8.25-year senior secured project finance facility for the development of the El Limon — Guajes Project (the “Project”), located on the Company’s 100% owned Morelos Gold Property in Mexico. The commitment letter confirms that each bank has committed to provide its designated share of the Loan Facility and sets out the terms and conditions of the Loan Facility in a term sheet attached thereto. The Loan Facility is comprised of two facilities, a project finance facility of US $300 million and a cost overrun facility of US $75 million. Advances under the PFF will bear interest at a rate of LIBOR + 4.25% to 4.75% and advances under the COF will bear interest at the same rate plus an addition of up to a maximum of 3%. The Term Sheet includes standard and customary project finance terms and conditions with respect to fees and conditions precedent to closing and advances thereunder (including satisfaction of remaining customary due diligence and other approvals) and also remains subject to the completion and execution of definitive loan documentation. One of the customary due diligence items that remains outstanding is the acceptance, by the Banks, of the Environment and Social Impact Assessment, which is anticipated to be complete in early May.