|November 03, 2011|
Torex Reminds Warrantholders of November 14, 2011 Warrant Expiry Date
|TORONTO, Ontario, November 3, 2011 -- Torex Gold Resources Inc. ("Torex", the "Company") (TSX:TXG) wishes to remind holders of its common share purchase warrants, exercisable at $1.30 per share, (the "Warrants") that the Warrants will expire at 5:00 pm (Toronto time) on November 14, 2011. The Warrants had an expiry date of November 12, 2011; however, such date is not a business day and therefore the expiry date of the Warrants has been extended to the next business day following such date.|
"We have the financial resources to carry out currently planned work to advance the development of our Morelos Gold Project in Mexico, including the completion of the resource estimate in Q1/2012 and the bankable feasibility study in Q2/2012," said Fred Stanford, President and CEO of Torex. "However, the proceeds of the Warrants would provide us the flexibility to place orders for long lead time equipment and, provided that permits are in place, get a start on 'early works' that will allow us to advance the critical path items on the construction schedule and thereby reduce construction schedule risk." he added.
Torex Gold Resources Inc. is a well funded, growth-oriented, Canadian mining company engaged in the exploration and development of precious metal resources with a focus on gold. It owns 100% of the Morelos Gold Project, an advanced stage gold exploration property, located 180km southwest of Mexico City in the highly prospective Morelos Gold Belt. The project covers an area of 29,000ha of which more than 75% remains unexplored.
For further information, please contact:
TOREX GOLD RESOURCES INC.
President and CEO
Tel. (647) 260-1502
Vice President Investor Relations
Tel. (647) 260-1503
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
Except for statements of historical fact relating to the Company, certain information in this press release constitutes "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information regarding future exploration and development plans of the Morelos Gold Project, including expected timing for completion of the updated mineral resource estimate and bankable feasibility study, and construction schedule of the Morelos Gold Project; placing orders for long lead time equipment; and other statements relating to the Company's financial and business prospects. Generally, forward-looking information can be identified by the use of terminology such as "plans", "expects", "estimates", "intends", "anticipates" or "believes" or variations of such words and phrases, or state that certain actions, events or results "may", "could", "would", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the reasonable assumptions, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, as well as other factors that it believes to be relevant and reasonable in the circumstances, at the date that such statements are made. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks related to: unexpected delays in the completion of the updated mineral resource estimate, bankable feasibility study and construction schedule of the Morelos Gold Project; as well as the risk factors disclosed in the Company's Annual Information Form and Management's Discussion and Analysis for the year ended October 31, 2010, available at www.sedar.com. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated or intended. There can be no assurance that such statements will prove to be accurate. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained herein is presented for the purposes of assisting investors in understanding the Company's plans, objectives and operations and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.