Announcement • Jul 14

Torex Gold Resources Inc. reports continued positive results from it's drilling and exploration programs at ELG Underground and the Media Luna Cluster

Torex Gold Resources Inc. reported continued positive results from the Company's drilling and exploration programs at ELG Underground and the Media Luna Cluster. These results reinforce Torex's strategy to grow reserves and resources in order to support a more robust and extended production profile at the Morelos Complex. Ongoing drilling continues to demonstrate strong potential to replace reserves and expand the resource base at Morelos. At the eastern extension of Media Luna, drilling continues to encounter higher-grade mineralization, returning 9.14 grams per tonne gold equivalent over 7.5 metres in drill hole MLE26-013 (including 38.06 grams per tonne gold equivalent over 1.4 metres) as well as 4.98 grams per tonne gold equivalent over 8.8 metres in drill hole MLE26-018D. These results point to a vertical extension of higher-grade mineralization of at least 100 metres, underscoring the potential to meaningfully expand resources along the eastern and southern extensions of Media Luna. At ELG Underground, drilling continues to extend mineralization along strike and at depth across the El Limón Sur and El Limón West trends. Highlights include 13.36 grams per tonne gold equivalent over 7.3 metres (including 106.77 grams per tonne gold equivalent over 0.6 metres) in drill hole LS-479 and 7.85 grams per tonne gold equivalent over 11.2 metres (including 26.01 grams per tonne gold equivalent over 1.2 metres) in LS-494 at the El Limón Sur trend, and 4.30 grams per tonne gold equivalent over 11.4 metres (including 7.68 grams per tonne gold equivalent over 5.5 metres) in LS-486 at the El Limón West trend. The latest round of drilling, along with prior drilling completed since the last resource update, continues to demonstrate the potential to replace reserves and resources at ELG Underground. At the regional level, drilling is underway at priority targets Atzcala and El Naranjo. The 2026 drill programs are focused on confirming mineralization continuity and better defining the scale and controls of these systems. Both targets represent attractive opportunities to unlock additional resource upside at Morelos. Approximately 62,500 metres of drilling is planned for the Media Luna Cluster in 2026 with the program focused on growing resources and offsetting depletion. Assay results presented in this news release are for 7,421 metres of drilling completed at the Media Luna Cluster, which includes 5,737 metres drilled at Media Luna and Media Luna North between February 1 and May 1, 2026 and 1,684 metres of drilling from the eastern extension of Media Luna completed between February 7 and June 2, 2026. Drilling in the second quarter was primarily focused on the eastern extension of the Media Luna orebody and returned excellent results. Drilling was conducted along north-south sections and confirmed that the primary mineralization control is east-west trending, with the San Miguel fault likely acting as the main source of mineralizing fluids. The higher-grade results returned, including 9.14 grams per tonne gold equivalent over 7.5 metres (including 38.06 grams per tonne gold equivalent over 1.4 metres) in drill hole MLE26-013 as well as 4.98 grams per tonne gold equivalent over 8.8 metres in drill hole MLE26-018D, confirm mineralization extends beyond the boundary of known resources and support the potential to delineate additional Inferred Resources within these areas as part of the year-end mineral reserve and resource update. Results also suggest potential for higher-grade mineralization with a vertical extension of at least 100 metres as shown through drill holes MLE26-019D (4.99 grams per tonne gold equivalent over 2.4 metres), MLE26-016D (3.38 grams per tonne gold equivalent over 10.1 metres), and MLE-003, which was previously reported. At the main Media Luna orebody, approximately 25,000 metres of drilling is planned this year, of which 4,316 metres (21 drill holes) had been completed as of May 1, 2026. Six of these drill holes, representing 1,157 metres, are presented in this release. The program aims to upgrade Inferred Resources to the Indicated Resource category to support reserve replacement. Drilling continues to deliver positive results with continuous mineralization of higher-grade intercepts, including drill holes MLLI-056 (6.09 grams per tonne gold equivalent over 9.5 metres, including 12.61 grams per tonne gold equivalent over 1.7 metres), MLLI-058 (5.57 grams per tonne gold equivalent over 10.0 metres, including 12.08 grams per tonne gold equivalent over 1.7 metres), and MLLI-059 (3.23 grams per tonne gold equivalent over 28.2 metres, including 26.27 grams per tonne gold equivalent over 1.5 metres). At Media Luna North, 11,500 metres of drilling is targeted this year, aiming to de-risk and support the stopes planned for the first year of production. Results from the 2,139 metres (11 drill holes) completed year-to-date increased the detail of the geological and resource models. Results are consistent within the drilled area and open the potential for mineralization extensions at depth. Drilling at Media Luna North is progressing as planned with one rig. Notable higher-grade intercepts that also indicate continuous mineralization include drill holes MLND-002 (5.45 grams per tonne gold equivalent over 25.6 metres, including 15.83 grams per tonne gold equivalent over 4.6 metres), MLND-003 (11.34 grams per tonne gold equivalent over 44.9 metres, including 16.44 grams per tonne gold equivalent over 26.3 metres and 17.88 grams per tonne gold equivalent over 34.2 metres, including 30.82 grams per tonne gold equivalent over 4.9 metres), and MLND-010 (13.93 grams per tonne gold equivalent over 33.4 metres, including 23.78 grams per tonne gold equivalent over 13.1 metres and 18.48 grams per tonne gold equivalent over 38.4 metres, including 27.34 grams per tonne gold equivalent over 10.3 metres).

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