Updated Media Luna Resource Estimate

TORONTO - Torex Gold Resources Inc. announced the updated Mineral Resource estimate for the Media Luna project, which now consists of a gold equivalent (AuEq) Indicated Resource of 3.54 million ounces (Moz) at an average grade of 5.27 grams per tonne (g/t), reflecting a 58% increase in contained AuEq metal in the Indicated Resource category compared to the previously reported estimate. Of the Indicated Resource, 61% of the contained value is attributable to gold (Au), 31% to copper (Cu), and the remainder to silver (Ag).

The updated Inferred Resource (exclusive of Indicated) is estimated at 2.48 Moz AuEq at an average grade of 4.08 g/t AuEq.

Jody Kuzenko, President and CEO, said, “Infill drilling at Media Luna since the start of 2020 and into the first few months of 2021 was successful in upgrading 8.3 million tonnes of Inferred Resource to the Indicated Resource category. The 2021 infill drilling program is targeting to upgrade additional resources to the Indicated category for inclusion in the upcoming Feasibility Study, which remains on track for completion in Q1 2022 and will form part of an updated Technical Report for the entire Morelos property.

With the existing drill program covering only 30% of the area of the host magnetic anomaly, we see significant potential to grow and upgrade the resource base at Media Luna over the coming years. We are currently developing a multi-year exploration program, which will likely see us expand and extend the current infill drilling program at Media Luna through the end of 2021, restart step-out drilling at Media Luna in 2022, target further resource growth from the ELG Underground, and test other high priority targets on the Morelos property.”