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Torex Gold Resources Inc
Symbol TXG
Shares Issued 785,371,918
Close 2015-09-03 C$ 1.16
Market Cap C$ 911,031,425
Recent Sedar Documents

Torex files Morelos NI 43-101 report, Media Luna PEA

2015-09-03 18:44 ET - News Release

Mr. Fred Stanford reports

TOREX ANNOUNCES FILING OF NI 43-101 TECHNICAL REPORT FOR ITS MORELOS PROPERTY-EL LIMON GUAJES MINE PLAN AND MEDIA LUNA PRELIMINARY ECONOMIC ASSESSMENT

Torex Gold Resources Inc. has filed a technical report prepared in accordance with National Instrument 43-101 in support of the company's news releases issued on July 21, 2015, entitled "Torex announces Updated Mine Plan for its Fully Funded El Limon-Guajes Gold Mine" and "Torex Announces a Positive PEA for its Media Luna Project including a New Inferred Resources Estimate of 7.4 million Gold Equivalent Ounces."

The independent technical report, entitled "Morelos Property, NI 43-101 Technical Report, El Limon Guajes Mine Plan and Media Luna Preliminary Economic Assessment, Guerrero State, Mexico," dated Sept. 3, 2015, effective date of Aug. 17, 2015, was prepared by M3 Engineering & Technology Corp. of Tucson, Ariz.; Amec Foster Wheeler E&C Services Inc. of Reno, Nev.; Amec Foster Wheeler Environment & Infrastructure, a division of Amec Foster Wheeler Americas Ltd. of Mississauga, Ont.; SRK Consulting (Canada) Inc. of Toronto, Ont.; SRK Consulting (U.S.) Inc. of Denver Colo.; Golder Associates Inc. of Gainesville, Fla.; and AMC Mining Consultants (Canada) Ltd. of Toronto, Ont. The technical report was authored by Daniel H. Neff, PE; Robert Davidson, PE; Thomas L. Drielick, PE; Edward J.C. Orbock III, RM SME; Mark Hertel, RM SME; Prabhat Habbu, PEng; Brian Connolly, PEng; Michael Levy, PE, PG; Vladimir Ugorets, MMSAQP; Benny Susi, PE; and Jim Monaghan, PEng, all qualified persons as defined by National Instrument 43-101 and independent of Torex. The technical report is available on SEDAR and will also be made available on the company's website.

There were no material differences in the mineral resources or mineral reserves between the technical report and the technical disclosure contained in the news releases.

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 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 have demonstrated economic viability.

We seek Safe Harbor.

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