TORONTO, Ontario, June 21, 2017 – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) is pleased to announce that, on schedule, the Sub-Sill Access Ramp has entered into the high grade mineralization at its Sub-Sill underground deposit associated with its El Limon-Guajes Mine in southwest Mexico. The first 260 tonnes of ore from the Sub-Sill were delivered to the processing plant yesterday. A random sample from each truck load of ore from this first ‘round’ into mineralized Sub-Sill skarn, returned an average grade of 98 g/t Au.
Fred Stanford, President & CEO of Torex stated: “Going from discovery to first tonnes processed in less than eight months is a testament to the planning ability and the execution skills of our team. The quality of the asset speaks for itself. Infill and step-out exploration drilling programs for the Sub-Sill are ongoing. A mine plan is expected to be published after the infill drill program is completed, the resource estimate is updated, and a maiden Sub-Sill reserve is determined. This is all scheduled to occur by the end of the year.”
The technical information in this news release was reviewed and approved by Victor A Barua, AUSIMM member and an employee of the Company, who is a “qualified person” under NI 43-101.
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 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 March of 2016 and the Media Luna Project, which is in an early stage of development, and for which the Company issued a preliminary economic assessment (PEA) in 2015. The property remains 75% unexplored.
For further information, please contact:
TOREX GOLD RESOURCES INC.
President and CEO
Tel. (647) 260-1502
Email: [email protected]
Vice President Investor Relations
Tel. (647) 260-1503
Email: [email protected]
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 includes, but is not limited to, information with respect to the drill program for the El Limon Sub-Sill area, the expectation of upgrading the El Limon Sub-Sill mineral resource, plans for mine planning, determining a mineral reserve and an additional step out drilling program, future exploration and development plans of the Company, and the potential for continued mining the El Limon Sub-Sill area. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “indicates”, “expects”, “estimates”, “intends”, “anticipates” or “believes” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, 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 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 risk 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 management made in light 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 correct. 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 forward-looking information, except in accordance with applicable securities laws.