TORONTO, Ontario, November 16, 2011 – Torex Gold Resources Inc. (“Torex” or the “Company”) (TSX:TXG) is pleased to announce that 63.9 million common share purchase warrants have been exercised into an equivalent number of common shares of the Company at a price of $1.30 per share, for total proceeds to the Company of $83 million. Of this total, three million warrants were exercised before July 31, 2011.
“We want to thank our shareholders for their confidence and support since we first acquired the Morelos Gold Project two years ago.” said Fred Stanford, President and CEO of Torex. “These additional funds will allow us to accelerate the de-risking of the Morelos Gold Project and to aggressively search for new discoveries on the property.” he added.
Torex Gold Resources Inc. is a well funded, growth-oriented, Canadian mining company engaged in the exploration and development of precious metal resources with a focus on gold. It owns 100% of the Morelos Gold Project, an advanced stage gold exploration property, located 180km southwest of Mexico City in the highly prospective Morelos Gold Belt. The project covers an area of 29,000ha of which more than 75% remains unexplored.
For further information, please contact:
TOREX GOLD RESOURCES INC.
Fred Stanford
President and CEO
Tel. (647) 260-1502
Email: [email protected]
Gabriela Sanchez
Vice President Investor Relations
Tel. (647) 260-1503
Email: [email protected]
Maza Drilling is a Mexican company established in 2007 in Mazatlán, Sinaloa. Our Canadian founder, Mr. Guy de Launiere, has over 20 years of international experience managing diverse drilling operations. Maza Drilling strives to compete at the highest levels in terms of recovery, effectiveness, efficiency, and affordability at every project while keeping at the forefront of technology to meet our customer’s needs in this demanding market.
