Ms. Jody Kuzenko reports

TOREX GOLD DELIVERS ON FULL-YEAR PRODUCTION GUIDANCE

Torex Gold Resources Inc. had fourth quarter gold production of 103,795 ounces (oz) and full-year gold production of 452,523 oz, within the company's revised guidance range of 450,000 to 470,000 oz (original guidance of 400,000 to 450,000 oz). Fourth quarter and full-year gold sold were 108,647 oz and 455,932 oz, respectively.

Operational results are preliminary in nature and subject to final reconciliation. Financial and operational results for the fourth quarter and year-end 2024 will be released after market close on Wednesday, Feb. 19, 2025. 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:

"December was a difficult month for Torex with the loss of three colleagues at ELG underground. In the wake of the tragedy, operations were suspended for just over a week to allow for inspections by the relevant government agencies. While operations have since resumed, our own internal investigation is ongoing.

"With the temporary suspension of operations, we produced 103,795 oz of gold during the fourth quarter. Against the backdrop of solid operational performance through the first three quarters of the year, full-year gold production was 452,523 oz, putting us within the annual production guidance range for the sixth consecutive year.

"Excluding the downtime in December, the operations performed well, with consistent performance at the mill matched by continued strong mining rates at ELG underground, where we expect further upside in 2025 as we add some long-hole stopes into the mine plan. The decline in mining rates in the ELG open pits was anticipated as we took the last blast in the main El Limon pit during the quarter, with the smaller El Limon Sur pit expected to be exhausted during the first half of 2025.

"As we work to reset the bar on safety at Torex, the year ahead is set to be transformational as we complete the Media Luna project, commence development of EPO, further increase investment in drilling and exploration, pivot back to positive free cash flow mid-year, and refine our return-of-capital strategy, all with the goal of unlocking value and further enhancing returns for our shareholders."

Fourth quarter and year-end 2024 conference call and webcast details

Torex plans to release its fourth quarter and year-end financial and operational results after market close on Wednesday, Feb. 19, 2025. A conference call and webcast hosted by senior management will be held on Feb. 20, 2025, at 9 a.m. ET.

Telephone access

For expedited access to the conference call, preregistration 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

Webcast access

A webcast and replay will be available 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, 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: integrate and optimize the Morelos property; deliver Media Luna to full production; increase reserves and resources; disciplined growth and capital allocation; retain and attract best industry talent; and build on environmental, social and governance excellence.

We seek Safe Harbor.