Torex Gold Resources Inc

Since 2018, we have negotiated unique and innovative community development agreements called CODECOPs (Convenio de Desarollo Comunitario Paricipatico) through which community projects are defined according to local needs with an emphasis on promoting local citizen participation. In 2024 alone, we invested more than MXN $10 million into local CODECOP projects, which included community infrastructure improvements, water projects, healthcare and education investments and cultural and social initiatives. This week, we held the CODECOP 2025 signing event, attended by more than 140 citizens and government authorities from 12 local communities surrounding our operations. While traditionally we have entered into agreements with 11 local communities, this year an additional agreement was signed with the community of Mezcala, south of the Balsas River near Media Luna. Through these agreements and our close partnership with local communities, we are working to make our mission come to life --  ‘to transform finite mineral resources into lasting prosperity by positively impacting the lives we touch’. Minera Media Luna #TorexGold #MexicoMining

Today, we released results from our 2024 drilling program at Media Luna West and from initial drill testing undertaken at Media Luna East. We are encouraged and excited about the results from both areas, which underpin the outstanding resource potential we see on the south side of the Morelos property. Highlights include: ✅ Building on the success of the 2023 drilling program at Media Luna West, we continued to see high-grade intercepts returned from last year’s program, most notably 13.40 grams per tonne gold equivalent (gpt AuEq) over 28.4 m, including 22.73 gpt AuEq over 13.1 m; ✅ Initial drill testing at Media Luna East returned strong results with multiple high-grade intercepts, many with copper (“Cu”) grades in excess of 2%, including a drill hole that returned 28.12 gpt AuEq over 18.3 m with a gold grade of 18.84 gpt and a Cu grade of 4.52%; as well as high-grade intercepts of 8.92 gpt AuEq over 60.9 m and 18.28 gpt AuEq over 12.0 m. These excellent drill results were generated from just over 10,000 metres of drilling, and with more than 20,000 metres planned across both targets this year, we are eager to see even more from these drill programs in 2025. Read more about our results here: https://lnkd.in/e2G8yvtV #TheNextTen #TorexGold

On Tuesday February 18th we started the planned 28 day tie-in period at our processing plant, paving the way for first copper concentrate from our Media Luna Project by the end of March and the declaration of commercial production a few weeks thereafter. While our mines continue to produce, the team is actively working at our surface facilities to install and commission pumps, pipes, electrical and instrumentation equipment and two variable frequency drives and motors on our ball mill. 72 hours done - 600 hours to go. The finish line is truly in sight. Go team!!! Minera Media Luna #MediaLunaProject #TheNextTen

We have just released our Q4 2024 and full-year results, marking the end of a truly pivotal year for Torex.   “2024 marked another year of consistently strong operational results from Morelos. With gold production of more than 452,000 ounces, we met our annual guidance for the sixth year in a row. The team continued to deliver new operational firsts, achieving a new annual average gold recovery record of 90.6% at the processing plant and a record annual mining rate from ELG Underground of close to 2,100 tonnes per day. In addition, significant progress was made on the Media Luna Project, with first copper concentrate production tracking to plan for the end of March and commercial production expected to be declared shortly thereafter.   “We also set new financial records in 2024. After generating record annual revenue of more than $1.1 billion, our balance sheet remains in excellent condition, with more than $330 million of available liquidity including $110 million of cash as of year end. The performance of our operations, supported by a record realized gold price, resulted in a record annual adjusted EBITDA of more than $540 million and a robust all-in sustaining costs margin of 49%.”  – Jody Kuzenko, President & CEO.   Read more about our latest results here: https://lnkd.in/eFRKBBSP

This week we were pleased to host the Mining Comission of the Congress of Guerrero State at our El Limon Guajes (ELG) operations. The meeting included a tour of our operations and a visit to the community of La Fundición to see firsthand our approach to positive community relations and community development. Along with other mining companies in Guerrero, government partners, academics and other representatives of the economic sector, we are proud to be a member of the Mining Commision and to work together to strengthen the mining industry in the state to ensure we continue to create lasting prosperity.

The next frontier. Seeking it out, finding it, and developing it -- is the lifeblood of the mining industry, and lives deep in the heart of every miner. If you follow the Torex Gold Resources Inc story at Morelos, you will know it started at the ELG Open Pits, then onto ELG Underground, then we added Media Luna Underground. What you see in this pic is the set up for the first blast of an exploration drift at our next frontier -- EPO Underground. More than a million ounces sit in M&I already -- and we off to find more gold. The pride and passion on the faces of these miners says it all. Well done team -- one safe shift at a time. EPO, here we go!!

We have just released our Q4 2024 update on the Media Luna Project, which is now in its final stages of completion. The latest highlights are as follows: ✅ Project 94% complete as of the end of 2024 ✅ Well on track to complete the project and produce first copper concentrate by the end of Q1 2025 ✅ Engineering concluded (100% complete) and procurement substantially concluded (99% complete) ✅ Surface construction 85% complete ✅ Tie-ins at the processing on track to start toward the end of February ✅ Underground development ahead of schedule, with underground lateral development rates ahead of budget at 1,300 meters per month ✅ Definition drilling ahead of plan, with most stopes planned to be mined in 2025 already drilled off ✅ Expecting to achieve the designed mining rate of 7,500 tonnes per day by mid-2026, six months ahead of schedule. ✅ Well-positioned to pivot back to positive free cash flow generation by mid-year, with Q1 2025 expected to be the last quarter of material investment in the project Read more about our progress on the Media Luna Project here 👉 https://lnkd.in/e5dx7sqU Minera Media Luna #MexicoMining #TheNextTen

Torex was pleased to sign a Coordination Agreement with the Ministry of Environment and Natural Resources in Mexico, which will see the Company contribute $500,000 MXN through the purchase of equipment and supplies to produce 100,000 seedlings for the reforestation of 200 hectares of land in northern Guerrero devastated by forest fires. We were proud to host Dr. Angel Almazán Juárez, head of SEMAREN, as well as representatives from the Secretariat of Economic Development and Promotion and the Municipality of Eduardo Neri, to share in this special announcement. Minera Media Luna #TheNextTen

We have just released 2025 operational guidance together with our 5-year production outlook. The year ahead will be truly transformational for Torex, and the outlook beyond that sees us well-positioned for continued robust production at our Morelos Complex. “2025 will be a pivotal year for Torex with the conclusion of the Media Luna Project only a few months away, marking the start of our next chapter at Morelos. For the first time, we will have simultaneous production from both the north and south sides of the Balsas River, and we will also become a meaningful copper producer with the metal representing approximately 20% of the guided 2025 production. The lower guided production compared to 2024 reflects four weeks of downtime at the processing plant while we complete the tie-ins for Media Luna. Production is expected to increase in 2026, holding at 450,000 to 500,000 gold equivalent ounces through 2030 on the reserve case, with considerable exploration upside remaining.” – Jody Kuzenko, President & CEO Read more about our exciting plans ahead here: https://lnkd.in/e4yEeyND

Torex has released its Q4 and full-year production results, reporting fourth quarter gold production of 103,795 ounces and full-year gold production of 452,523 oz. This marks the sixth consecutive year the Company has achieved annual production guidance. Read more here: https://lnkd.in/e9QMQjAz