Ms. Jody Kuzenko reports

TOREX GOLD REPORTS Q1 2026 PRODUCTION RESULTS

Torex Gold Resources Inc. had first quarter 2026 gold equivalent (AuEq) production of 100,874 ounces and AuEq sales of 109,222 ounces. The company is on track to achieve full-year production guidance of 420,000 to 470,000 ounces AuEq.

Financial and operational results for the first quarter 2026 will be released after market close on Wednesday, May 6, 2026.

Jody Kuzenko, president and chief executive officer of Torex, stated: "The first quarter capped off the successful ramp-up of Media Luna, which achieved design throughput of 7,500 tonnes per day nine months ahead of the schedule set out in the technical report and three months ahead of the most recent forecast. In addition, performance at ELG Underground remained consistently strong as mining rates averaged more than 3,000 tonnes per day. With Media Luna and ELG Underground operating at or above design levels and first production from Media Luna North on track by the end of this year, the company has initiated an internal evaluation of potential opportunities to increase plant throughput and expand production.

"Quarterly finished production (prior to payable deductions) of 100,874 AuEq ounces was influenced by mine sequencing, which resulted in most production from Media Luna coming from lower-grade and lower-recovery stopes of the mine, together with modestly lower throughput given an extended planned maintenance period at the processing plant and some additional unplanned maintenance in February to replace bolts and grates at the SAG [semi-autogenous grinding] mill. With access to higher-grade and -recovery stopes forecast to pick up midyear, quarterly production is expected to remain at similar levels during Q2 before increasing in the second half of the year, consistent with annual guidance.

"With solid momentum built in Q1 out of the mines, we are well placed to deliver on full-year production guidance, which, coupled with the current metal price environment, bodes well for significant free cash flow generation in 2026 and beyond. The strong free cash flow will enable us to aggressively return capital to shareholders through both dividends and share repurchases, execute on our robust exploration program to extend mine life at Morelos, unlock value across our portfolio of assets, and maintain a strong and flexible balance sheet."

During the first quarter, the company repurchased 2,141,801 shares (2.2 per cent of shares outstanding at year-end 2025) at an average price of $70.69 per share and paid a quarterly dividend of 15 cents per share. The company continues to opportunistically repurchase shares in the open market.

First quarter 2026 conference call and webcast details

Torex plans to release its first quarter financial and operational results after market close on Wednesday, May 6, 2026. A conference call and webcast hosted by senior management will be held on Thursday, May 7, 2026, 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:  1-647-846-8914

Toll-free (North America):  1-833-752-3842

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 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, Mexico. The company also owns the Los Reyes gold-silver project in Sinaloa, Mexico, and interests in 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: optimize Morelos production and costs; disciplined growth and capital allocation; grow reserves and resources; project delivery excellence; 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.

Qualified person

The technical and scientific information in this press release pertaining to metal production has been reviewed and approved by Miguel Pimentel, PEng, vice-president, metallurgy and process engineering, of the company, who is a qualified person under National Instrument 43-101.

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