Ms. Jody Kuzenko reports

TOREX GOLD RELEASES 2022 RESPONSIBLE GOLD MINING REPORT

Torex Gold Resources Inc. has released its 2022 responsible gold mining report, the company's eighth annual disclosure of its environmental, social and governance (ESG) performance. The report can be found on the company's website.

Jody Kuzenko, president and chief executive officer of Torex, stated:

"I am very proud of our 2022 report, which shines a spotlight on the heart and soul of our company and how we authentically live our organizational purpose -- to transform finite mineral resources into lasting prosperity by positively impacting all the lives we touch. While the quantitative metrics showcase our positive performance, it is the many stories within the pages that demonstrate how our purpose statement truly comes to life as we continue to minimize our environmental footprint, build productive relationships based on trust and partnership, create prosperity through well-paying jobs and local procurement, and foster lasting economic impact through sustainable community development.

"One of the key strategic pillars of our company is to build on ESG excellence. As we create our future with the Media Luna project and look to grow and diversify in other jurisdictions, we will continue to demonstrate what responsible mining looks like and broaden the positive impact we have on all those who share stakes in Torex."

Jennifer Hooper, chair of the safety and corporate social responsibility committee of the Torex board of directors, stated:

"At Torex, operating responsibly has always been at the core of who we are as a company. We recognize that responsible and sustainable mining starts with the board of directors and we continue to incorporate evolving best practices to sustain and build on our reputation as an industry leader when it comes to ESG and to provide confidence to our shareholders on our ability to deliver on financial and operational commitments with the highest level of ethics, rigour and social harmony."

2022 responsible gold mining report highlights

• Industry-leading safety performance, achieving 10 million hours worked without a lost-time injury for the second time since 2020 and ending 2022 with a lost-time injury frequency of 280,000 hours worked for its employees and contractors;
• Zero reportable environmental incidents;
• Released inaugural climate change report aligned with the Task Force on Climate-Related Financial Disclosures (TCFD), including a credible pathway to achieve 2030 greenhouse gas emissions targets;
• Almost 60 per cent water usage recycled; 44-per-cent reduction in cyanide consumption from 2021;
• Continued implementation of its community development agreements (CODECOPs) in partnership with 11 host communities, with $4.6-million directly invested in community development and infrastructure projects;
• 99 per cent employees from Mexico with approximately 60 per cent from Guerrero state;
• 92 per cent of procurement spend in Mexico; approximately $107-million in procurement within Guerrero state;
• Completed year 2 implementation of the requirements of the World Gold Council Responsible Gold Mining Principles (RGMPs), including a public RGMPs progress report that was independently assured;
• Made substantial progress on compliance with the International Cyanide Management Code and formally approved adoption of the Global Industry Standard on Tailings Management;
• Received the ESR 2023 Distinction from the Mexican Center for Philanthropy and the Alliance for Corporate Social Responsibility in Mexico for the fifth consecutive year for its public and voluntary commitment to implement socially responsible management at its operations in Mexico;
• Recognized by major Canadian and international media for its ESG performance, including receipt of the 2022 Mining Magazine Safety Award for community relations and selection as an honouree on The Globe and Mail's Women Lead Here list in recognition of the high proportion of women on its executive team.

The company's 2022 responsible gold mining report was prepared with reference to the Global Reporting Initiative (GRI) Standards and the Sustainability Accounting Standards Board (SASB) Metals and Mining Sustainability Accounting Standard. It also includes energy and climate-related data aligned with the phase 1 recommendations of the TCFD. Aspects of its supply chain disclosures have also been aligned with the local procurement reporting mechanism (LPRM) of the Mining Shared Value Initiative of Engineers Without Borders Canada.

About Torex Gold Resources Inc.

Torex is an intermediate gold producer based in Canada, engaged in the exploration, development and operation of its 100-per-cent-owned Morelos property, an area of 29,000 hectares in the highly prospective Guerrero gold belt located 180 kilometres southwest of Mexico City.

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