Program successful in upgrading Indicated Resources to the Measured category and adding Inferred Resources along the boundaries of the deposit
(All amounts expressed in U.S. Dollars unless otherwise stated)

TORONTO, March 08, 2023 (GLOBE NEWSWIRE) -- Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX: TXG) is pleased to report results from its 2022 drilling program at Media Luna. The program was focused on upgrading Indicated Resources to the Measured category and targeting spatial gaps in prior drilling to expand Inferred Mineral Resources.

Jody Kuzenko, President & CEO stated:

“We are pleased with the results of the 2022 drill program at Media Luna. Infill drilling has reinforced our confidence in the quality of the resource model and provided valuable information which will be incorporated into future mine planning activities. Additionally, drilling targeting spatial gaps along the existing southern and northern boundaries of the deposit was successful in delivering the required drill density to bring incremental mineralization into the Inferred Resource category.

“Infill drilling within three higher-grade zones of the Media Luna deposit returned assay results with similarly impressive grades and widths as prior drilling. Based on the additional drilling, we expect to convert a high percentage of Indicated Resources within these areas to the Measured category when year-end Mineral Reserve and Resource estimates are released later this month. Drilling targeting these higher-grade zones returned some notable grades over favourable core lengths (not true widths), including 46.0 grams per tonne gold equivalent (“gpt AuEq”) over 28.4 metres (“m”), 17.1 gpt AuEq over 58.1 m, 21.4 gpt AuEq over 26.4 m, 8.6 gpt AuEq over 34.7 m, and 9.6 gpt AuEq over 26.1 m.

“Infill drilling targeting spatial gaps to ensure the drill density required to classify mineralization as Inferred Resources was also successful, with several holes returning intersects with favourable lengths including 8.0 gpt AuEq over 25.4 m, 3.8 gpt AuEq over 48.0 m, 3.0 gpt over 26.8 m, and 2.6 gpt over 18.9 m.

“We are also pleased to announce the appointment of Raul Guerra as Vice President, Exploration. Raul will be responsible for supporting the Company’s exploration and drilling efforts across the Morelos Property as well as analyzing potential business opportunities related to exploration stage assets. Mr. Guerra has over 30 years of industry experience, including 13 years with Barrick where he served as Vice President Exploration, Latin America for 7 years. Prior to joining Torex, Raul was Vice President Exploration for Austral Gold.”

Table 1: Highlights from the 2022 drilling programs at Media Luna

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