Mr. Fred Stanford reports

TOREX ANNOUNCES C$55 MILLION BOUGHT DEAL FINANCING

Torex Gold Resources Inc. has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, under which the underwriters have agreed to buy, on a bought deal basis, 4.37 million common shares at a price of $12.60 per common share for gross proceeds of approximately $55-million. The company has granted the underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the offering, to purchase up to an additional 15 per cent of the offering to cover overallotments, if any. The offering is expected to close on or about Feb. 7, 2018, and is subject to the company receiving all necessary regulatory approvals.

The company intends to use the net proceeds for the offering to finance and provide liquidity for its working capital obligations during the restart and ramp-up of the ELG mine complex, and for general corporate purposes.

The offering is being made under company's base shelf prospectus dated Jan. 24, 2018. The company intends to file a prospectus supplement relating to the issuance of the common shares by Jan. 31, 2018, with the securities commissions and other similar regulatory authorities in each of the provinces and territories of Canada, except Quebec.

About Torex Gold Resources Inc.

Torex is an emerging intermediate gold producer based in Canada, engaged in the exploration, development and operation of its 100-per-cent-owned Morelos gold property, an area of 29,000 hectares in the highly prospective Guerrero gold belt located 180 kilometres southwest of Mexico City. Within this property, Torex has the El Limon Guajes mine, which announced commercial production in March of 2016; the Sub-Sill underground project currently under development; and the Media Luna project, which is in an early stage of development and for which the company issued a preliminary economic assessment (PEA) in 2015. The property remains 75 per cent unexplored.

We seek Safe Harbor.