Ms. Jody Kuzenko reports

TOREX GOLD REPORTS Q1 2024 PRODUCTION RESULTS

Torex Gold Resources Inc.'s first quarter 2024 gold production was 115,494 ounces, and gold sold was 111,642 ounces. With the solid start to the year, the company is on track to achieve annual gold production guidance of 400,000 to 450,000 ounces (all amounts are expressed in U.S. dollars unless otherwise stated).

Operational results are preliminary in nature and subject to final reconciliation. Financial and operational results for Q1 2024 will be released after market close on Wednesday, May 8, 2024. A conference call hosted by senior management will be held the following day at 9 a.m. ET.

Jody Kuzenko, president and chief executive officer of Torex, stated: "Two thousand twenty-four is off to a solid start with quarterly gold production of 115,494 ounces, tracking exactly to plan. Importantly, we delivered these ounces safely, exiting the quarter with one lost-time ankle injury at the Media Luna project and reaching 14 million hours lost-time injury free at [El Limon Guajes].

"A new record was set at the processing plant with average gold recovery of 90.7 per cent, the highest level achieved to date. Throughput rates remained above 13,000 tonnes per day for the fifth consecutive quarter, averaging 13,118 tpd.

"Open-pit production was in line with expectations. Looking forward, the strip ratio for the open pits is expected to continue to decline as the pits wind down. At ELG underground, mining rates averaged 1,843 tpd given the backfill priorities in the mine plan during the month of March. Mining rates are expected to return to the now steady-state range of 2,000 tpd for the remainder of the year.

"The lag between production and sales during the quarter reflects timing of gold pours that coincided with the Easter holiday period in Mexico. We expect to reduce the level of finished inventory over the coming quarters.

"With continued stable performance expected from ELG in 2024, complemented by our plan to start processing ore from Media Luna in [fourth quarter], we are well positioned to deliver on full-year production guidance for the sixth consecutive year."

First quarter 2024 conference call and webcast details

Torex plans to release its first quarter financial and operational results after market close on Wednesday, May 8, 2024. A conference call and webcast hosted by senior management will be held on Thursday, May 9, 2024, at 9 a.m. ET.

Telephone access

For expedited access to the conference call, registration is open to obtain an access code in advance, which will allow participants to join the call directly at the scheduled time. Alternatively, dial-in details are as follows.

Toronto local or international:  1-647-484-8814

Toll-free (North America):  1-844-763-8274

Please join the conference call approximately 10 minutes prior to the scheduled start time if using the dial-in details above.

Webcast access

A webcast will be available on the company's website. The webcast will be archived on the company's website.

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. The company's principal asset is the Morelos complex, which includes El Limon Guajes mine complex, and the Media Luna project, a processing plant and related infrastructure. Commercial production from the Morelos complex commenced on April 1, 2016, and an updated technical report for the Morelos complex was released in March, 2022. Torex's key strategic objectives are to integrate and optimize its Morelos property, deliver Media Luna to full production, increase reserves and resources, retain and attract best industry talent, and build on environmental, social and governance excellence.

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