Mr. Dan Rollins reports

TOREX GOLD ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID

Further to Torex Gold Resources Inc.'s news release dated Nov. 5, 2025, it has received approval from the Toronto Stock Exchange of its notice of intention to renew its normal course issuer bid. (All amounts are expressed in United States dollars unless otherwise stated.)

Under the NCIB, Torex is authorized to purchase up to 8,133,430 of its common shares, representing approximately 10 per cent of the public float as of Nov. 11, 2025, during the period commencing on Nov. 21, 2025, and ending on Nov. 20, 2026. As of Nov. 11, 2025, Torex had a total of 96,176,134 common shares issued and outstanding and a public float of 81,334,308 common shares.

The NCIB provides the company with the flexibility to acquire common shares from time to time as an effective means of returning capital to its shareholders in accordance with its corporate strategy. Outside of blackout periods, common shares may be purchased under the NCIB based on the discretion of Torex's management, in compliance with the rules of the TSX and applicable securities laws.

Purchases under the NCIB will be made on the open market through the facilities of the TSX or alternative trading systems at a price per common share representative of the market price at the time of acquisition. The number of common shares that can be purchased pursuant to the NCIB is subject to a current daily maximum of 101,788 common shares (which is equal to 25 per cent of the average daily trading volume of 407,154 common shares on the TSX for the six full calendar months ending Oct. 31, 2025), subject to the company's ability to make one block purchase of common shares per calendar week that exceeds such limits. All common shares purchased under the NCIB will be cancelled after their purchase. The company intends to finance any purchases under the NCIB from its available working capital.

Under Torex's current NCIB, which commenced on Nov. 21, 2024, and ends on Nov. 20, 2025, the company obtained approval to purchase up to a total of 7,116,777 common shares, of which 308,632 common shares were purchased through the facilities of the TSX at a volume weighted average price of approximately $46.78 (excluding commissions) per common share as of Nov. 11, 2025.

Although Torex has the present intention to acquire its common shares pursuant to the NCIB, Torex will not be obligated to make any purchases and purchases may be suspended by Torex at any time. Decisions regarding any future repurchases will depend on certain factors, such as market conditions, share price and other opportunities to invest capital for growth.

About Torex Gold Resources Inc.

Torex Gold Resources is a Canadian mining company engaged in the exploration, development and production of gold, copper and silver from its flagship Morelos complex in Guerrero, which is currently Mexico's largest single gold producer. The company also owns the advanced stage Los Reyes gold-silver project in Sinaloa, Mexico, and recently acquired a portfolio of early stage exploration properties, including the Batopilas and Guigui projects in Chihuahua, Mexico, and the Gryphon and Medicine Springs projects in Nevada, United States.

The company's key strategic objectives are to: deliver Media Luna to full production and build EPO; optimize Morelos production and costs; grow reserves and resources; pursue disciplined growth and capital allocation; retain and attract best industry talent; and be an industry leader in responsible mining. In addition to realizing the full potential of the Morelos property, the company continues to seek opportunities to acquire assets that enable diversification and deliver value to shareholders.

We seek Safe Harbor.