Torex Gold Reports Q2 2020 Production Results Including the Resumption of Full Operations in June

(All amounts expressed in U.S. Dollars unless otherwise stated)

TORONTO, July 09, 2020 (GLOBE NEWSWIRE) -- Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX: TXG) announces Q2 2020 gold production of 59,500 ounces. Gold sold during the quarter was 63,140 ounces at an average realized gold price of $1,710 per ounce.

Due to the COVID-19 decree issued by the Government of Mexico, production at El Limón Guajes (ELG) was temporarily suspended for the month of April and partially resumed in May with the processing of lower grade stockpiled material. Following the designation of mining as an essential activity in Mexico, full production resumed at the beginning of June with the restart of open pit and underground mining operations.

Q2 2020 Operational Highlights

	Q2 2020	June 2020
Gold Produced (oz)	59,500	38,890
Average Plant Throughput (tpd)1	7,550	11,870
Average Underground Ore Mined (tpd)1	330	830
Average Open Pit Ore Mined (tpd)1	7,310	16,620
Strip Ratio	6.7	6.4
1) Averages based on calendar days

Gold grades mined, gold grades processed, and gold recoveries will be reported with the Q2 2020 financial results after reconciliations have been completed.

Jody Kuzenko, President and CEO of Torex, stated:

“Due to COVID-19 restrictions, this quarter was certainly not business as usual; however, we are pleased to have successfully brought ELG back up to expected run rates in June, with 38,890 ounces of gold produced in the month. With operations back on track, we look forward to delivering a strong result in H2 2020 and carrying this operational momentum into 2021.

“In addition, during the COVID-19 related suspension in April, we took the opportunity to complete end-to-end maintenance throughout the process plant and did not take our foot off the gas pedal with respect to key growth projects, including portal preparation for the tunnel to Media Luna.

“Our established culture of safety has been instrumental and very evident in how our employees and contractors responded to challenges related to COVID-19 this quarter. The enhanced protocols we put in place in March remain in place today, and to date our screening measures appear to have been effective with no confirmed cases on site. We have had two confirmed cases involving individuals who tested off-site and they will remain at home until they fully recover. Importantly, I’m also very proud to report we had no lost time injuries (LTIs) this quarter, with the operations now surpassing more than 7 million hours worked without an LTI.