Torex Gold Announces Acquisition of Reyna Silver

Acquisition provides direct access to a portfolio of prospective exploration properties within established mining regions in Mexico and Nevada

(All amounts expressed in Canadian dollars unless otherwise stated)

Toronto, Ontario--(Newsfile Corp. - June 23, 2025) - Torex Gold Resources Inc. (the "Company" or "Torex") (TSX: TXG) announces that it has entered into a definitive agreement (the "Arrangement Agreement") with Reyna Silver Corp. ("Reyna Silver") (TSXV: RSLV) to acquire all of the issued and outstanding common shares ("Shares") of Reyna Silver (other than Shares held by Torex) pursuant to a court-approved plan of arrangement for an all cash consideration of approximately US$26 million ($36 million) based on an offer price of $0.13 per Share (the "Transaction").

Jody Kuzenko, President and CEO of Torex, stated:

"The acquisition of Reyna Silver provides Torex with immediate access to new and exciting early-stage exploration projects within prolific mining camps in northern Mexico and Nevada, consistent with our strategy to create a diversified, Americas-focused precious metals producer built on a portfolio of quality assets, including exploration and development stage projects and producing mines.

"Through the acquisition, Torex will acquire direct ownership in a suite of highly prospective exploration projects located in Mexico, with the most advanced being the Batopilas and Guigui projects in Chihuahua. The acquisition also provides Torex with the option to acquire an initial 70% interest in the prospective Gryphon Summit (located at the southern end of the Carlin-trend) and a 100% interest in the Medicine Springs projects in Nevada.

"With the technical expertise and breadth of our exploration team, proven capability to deliver on major projects with the recent completion and commissioning of our Media Luna Project, and anticipated robust free cash flow generation as Media Luna ramps up operations, we are well-positioned to advance Reyna Silver's properties and unlock the full value of these four projects. Upon closing, Torex plans to build off the exploration and drilling programs undertaken by Reyna Silver at both Mexican assets as well as undertake a thorough evaluation of the potential of the properties in Nevada. In so doing, Torex will leverage the same systems-based approach established at Morelos that has delivered significant resource and reserve growth over the last few years."