Assets

Paste plant pad Q4 2023
During the quarter, significant headway was made on foundation preparation for the paste plant, with concrete work starting in the paste plant thickener area.

Mazapa bypass road Q4 2023
Construction of the Mazapa – San Miguel bypass road, including the Mazapa bridge, is now complete, allowing for deliveries of larger pieces of equipment on the south side of the Balsas River for the paste plant and underground mine. Nearly 7 kilometres of roadwork has been completed.

Sandvik Rhino delivery Q4 2023
Mobile equipment deliveries began during the quarter, including the delivery of a Sandvik Rhino raise borer and the first Sandvik electric jumbo. The diesel-electric Rhino, pictured above, will support vertical raise development including ventilation raises, ore and waste passes, and finger raises.

Concrete works at the flotation plant Q4 2023
On the north side of the Balsas River, concrete foundation work for the flotation plant continued to make steady progress during the quarter. This area will house flotation cells, regrind mills, thickeners, and reagents necessary for the flotation operation. Steel installation for the flotation circuits is expected to commence shortly with the assistance of the central crane pictured above.

Backup generator station Q4 2023
Construction of the backup generator station, located outside of the entrance to South Portal Upper, is nearing completion. There are eight 1-megawatt generators that will temporarily power the Media Luna mine during construction and operation until connection is made to the permanent substation near ELG. Once the connection to permanent power is made, these generators will become back-up power to the Media Luna mine.

Footings for flotation area and tower crane Q3 2023
On the north side of the Balsas River, extension of the main water management culvert below the area of the new flotation plant was completed during Q3, allowing for the final placement of the remaining civil backfill that extends the flotation area pad. Relocation of power distribution infrastructure along with installation of new buried power conduits around the flotation plant was also completed, which will allow for the removal of overhead power lines in Q4 2023. This work enabled the start of the concrete foundations for the flotation plant and tower crane to begin, as pictured above.

Mazapa bypass road Q3 2023
Work continued during Q3 on both the Mazapa – San Miguel bypass road and the Mazapa bridge with the first concrete headwall completed. The bypass road is expected to be completed in Q4 2023 in order to commence deliveries of larger equipment related to both the paste plant and underground construction.

Safety briefing at MML camp Q3 2023
Safety will always come first and always at Torex. With over 1,200 contractors working on the Media Luna Project and all of the associated activity in addition to ongoing operations at ELG, keeping a sharp focus on safety has never been more critical. Pictured above is a safety briefing at the MML camp that has recently been expanded as part of the Media Luna Project.

First LHD from Sandvik in service Q3 2023
First equipment deliveries of a diesel haul truck and a diesel scoop (pictured above) were made at the end of September. Delivery of the first electric jumbo is scheduled for December with the remainder of the battery electric/diesel fleet expected to be delivered steadily over the next two years.

Foundation and electrical work for the back-up generator station Q3 2023
Located outside of the entrance to South Portal Upper, concrete foundation installation for the backup generator area began during Q3 and will be completed in Q4 2023, allowing for work to start on the paste plant foundations.

Civil works for MML camp expansion Q2 2023
More camp facilities are required to accommodate the extra personnel on site during construction. There are now over 1,200 employees and contractors on site working on the Media Luna Project.

Sedimentation pond construction Q2 2023
During the quarter, slope remediation of the South Portal access road was completed which allowed construction to advance on both the south sedimentation and decant pond dams, both located outside of South Portal Lower.

West adit vent breakthrough Q2 2023
A critical piece of the development schedule, the west adit vent provides fresh air supply to the underground construction crews at Media Luna. Eventually, ventilation to the underground mine will be provided by fresh air intake through the three portal tunnels and return air ventilation via the east and west exhaust adits.

New security building Q2 2023
The security building at ELG was relocated to make way for a modified access road to the site.

Copper flotation cells arrive at site Q2 2023
Ore from Media Luna and ELG Underground will utilize the existing grinding circuit and a new copper flotation circuit to produce a copper concentrate containing gold and silver. Tailings from the copper flotation circuit will be subsequently processed through a new iron sulphide flotation circuit, which will remove the iron prior to treating the precious metal bearing solution in the existing leach circuit to produce a gold/silver doré. The upgraded processing circuit can bypass the flotation circuits to accommodate batch processing of ELG Open Pit and stockpile ore, which tends to have lower levels of copper.

Guajes Tunnel Q1 2023
As of the end of April 2023, the Guajes Tunnel had passed the 4 kilometre mark with breakthrough anticipated in early Q1 2024, if not sooner.

Sandvik battery-electric ‘Rhino’ Q1 2023
Torex has finalized its purchase order for the primary underground production fleet to Sandvik, an order worth approximately $63 million, with deliveries scheduled to begin in Q3 2023. The order includes 35 vehicles in total, including 15 battery electric vehicles which, according to Sandvik, is Sandvik’s first foray into Latin America and third-largest battery electric vehicle fleet order to date.

Mazapa by-pass road Q1 2023
The gravel portion of this route, by-passing the Mazapa village to San Miguel, is being widened and upgraded for the Media Luna Project construction and operations period.

Paste plant pad preparation Q1 2023
During the quarter, final blasts related to the paste plant excavation were completed, paving the way for concrete pads to be poured for the paste plant and back-up generators.

Annual Town Hall Q1 2023
Jody Kuzenko, President and CEO of Torex, as well as the entire Executive Team, attended town hall meetings at the Morelos Complex. Pictured above is the inaugural Media Luna Town Hall that occurred on February 1st. The multiple town hall meetings ensure that employees hear from the CEO and Executive Team on business strategy and progress.

South Portal Lower Q4 2022
Steady progress was made on ventilation in South Portal Lower and the Guajes Tunnel during the quarter. With the access tunnel complete, development of the main spiral ramp has commenced.

Mazapa by-pass road Q4 2022
Upgrades to the main access road into the town of San Miguel have commenced, including a by-pass road which will divert construction related traffic away from village of Mazapa.

Guajes Tunnel Portal Q4 2022
The 7 kilometre Guajes Tunnel will connect the Media Luna Project on the south side of the Balsas River with the existing processing plant on the north side of the river. Advance rates are tracking well to expectations with breakthrough of the tunnel on track for Q1 2024. As at the end of December, the Guajes Tunnel had advanced more than 3.2 kilometres.

Paste plant pad preparation Q4 2022
The paste plant will be located on the south side of Balsas River. Blended tailings (leached Fe-S concentrate and leached Fe-S tailings) will be supplied to the paste plant via a pipeline routed through the Guajes Tunnel and the underground mine workings.

Raise bore Q4 2022
The Guajes Tunnel vent raise will support ventilation during construction and operational periods.