Excellent quarterly performance firmly positions Torex to achieve full-year production guidance

Torex Gold Resources Inc. (TSX: TXG) (OTCQX: TORXF) reports preliminary third quarter 2026 gold equivalent production of 131,900 ounces and AuEq sales of 127,346 oz.¹ Year-to-date production and sales totalled 329,071 oz AuEq² and 328,918 oz AuEq², respectively, putting the Company solidly on track to achieve the midpoint of full-year production guidance of 420,000 to 470,000 oz AuEq.³

 

TABLE 1: PRELIMINARY THIRD QUARTER 2026 OPERATIONAL RESULTS¹

Financial and operational results for the third quarter 2026 will be released after market close on Wednesday, November 4, 2026.

Andrew Snowden, President & CEO of Torex, stated:

“Our third quarter operational results were exceptional and delivered the step-up in production we expected to support a strong second half of the year, with higher grades and improved gold recoveries driving production of 131,900 oz AuEq. With this strong Q3 result and our operations firing on all cylinders, we are well positioned to achieve our annual production guidance.

“Media Luna continues to perform very well, with mining rates averaging 8,244 tonnes per day during the quarter, comfortably above the 7,500 tpd design rate. ELG Underground also continued to deliver strong performance, with mining rates exceeding 3,000 tpd. Throughput rates at the processing plant averaged 10,798 tpd with gold grades of 3.50 grams per tonne and gold recoveries of 88%, representing the strongest quarterly results year-to-date.

“Media Luna North remains on schedule to deliver first ore before year-end, and with this third active mining front coming online, we expect incremental ore tonnage and greater flexibility in mine sequencing.

“Building on the strong operational performance delivered this quarter, together with the continued advancement of our exploration programs, we expect to deliver a strong finish to 2026 and carry that momentum into 2027 and beyond.”

During the third quarter, the Company repurchased 1,755,843 shares at an average price of C$66.84 per share and paid a quarterly dividend of C$0.16 per share. On a year-to-date basis, the Company has repurchased 4,888,626 shares (5.1% of shares outstanding at the start of the year). The Company continues to opportunistically repurchase shares in the open market to deliver on its commitment to return $350 million of capital to shareholders in 2026 through dividends and share repurchases.

ENDNOTES

1) Q3 2026 AuEq production and sales are based on average market prices of $4,262/oz Au, $62.59/oz Ag, and $6.40/lb Cu. AuEq (oz) = Au (oz) + 1,000 * (62.59 / 4,262) x Ag (koz) + 1,000,000 x (6.40 / 4,262) x Cu (mlb).
2) Q3 2026 year-to-date AuEq production and sales are based on average market prices of $4,544/oz Au, $73.24/oz Ag, and $6.09/lb Cu. AuEq (oz) = Au (oz) + 1,000 * (73.24 / 4,544) x Ag (koz) + 1,000,000 x (6.09 / 4,544) x Cu (mlb).
3) 2026 AuEq production guidance assumes metal prices of $4,500/oz Au, $72.50/oz Ag, and $6.00/lb Cu, and AuEq (oz) = Au (oz) + 1,000 * (72.50/ 4,500) x Ag (koz) + 1,000,000 x (6.00/ 4,500) x Cu (mlb).

 

ABOUT TOREX GOLD RESOURCES INC.

Torex Gold Resources Inc. 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 a portfolio of early-stage exploration projects, including Batopilas and Guigui in Chihuahua, Mexico, La Gloria in Sonora, Mexico, and Medicine Springs in Nevada, USA, as well as an option to acquire the Gryphon Summit project in Nevada, USA.

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.