Torex Announces Filing of NI 43-101 Technical Report for its Morelos Property-El Limon Guajes Mine Plan and Media Luna Preliminary Economic Assessment - Seite 2

CAUTIONARY NOTES

PRELIMINARY ECONOMIC ASSESSMENT

A preliminary economic assessment should not be considered a prefeasibility study or feasibility study, as the economics and technical viability of the Media Luna project have not been demonstrated at this time. The Media Luna preliminary economic assessment (the "PEA") is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. It cannot be assumed that all or any part of the inferred mineral resources will ever be upgraded to a higher category. Furthermore, there is no certainty that the conclusions or results as reported in the PEA will be realized. Mineral resources that are not mineral reserves do not do not have demonstrated economic viability.

FORWARD LOOKING STATEMENTS

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, information with respect to the Company's feasibility study and updated ELG mine plan, including with respect to mineral resource and mineral reserve estimates; the ability to realize estimated mineral reserves; the Company's expectation that the ELG mine will be profitable with positive economics from mining; recoveries, grades and annual production; receipt of all necessary approvals; the parameters and assumptions underlying the mineral resource and mineral reserve estimates and the financial analysis; gold prices, expected date of completion, commissioning and start-up of the ELG mine and processing facilities of the ELG mine and expected revenues from operations and pre-production processing costs, the further advances of funds pursuant to the debt facility (which are subject to certain customary conditions precedent), the expected timing and receipt of other sources of funds, proposed exploration and development activities and their timing, resource estimates and potential mineralization, the PEA, including estimates of capital and sustaining costs, anticipated internal rates of return, mine production, estimated recoveries, mine life, estimated payback period, net present values, and earnings before interest, depreciation and amortization.