TORONTO, Ontario, October 15, 2018 – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) announces the appointment of Ms. Jody Kuzenko to the role of Chief Operating Officer, effective October 29th, 2018.There will be a transition period with Jason Simpson, until November 9th, 2018, when Jason leaves the Company for a CEO role within the industry.
Fred Stanford, President and CEO of Torex stated: “Jason has been an exceptional team member for the last five+ years at Torex and we thank him for leading the teams that built and ramped up the ELG operations.This transition for him is a natural next step in his career in the mining industry.He made a material contribution in helping to create the company that Torex has become and we wish him every success in his new role.
Jody Kuzenko takes over the operations as they are transitioning from the heavy technical focus of building and ramping up, to the people, systems, and leadership focus of stable operations in continuous improvement mode.She is an experienced mining executive that comes to us from Vale’s Ontario Operations in Sudbury.She was most recently the Director, Business Strategy for the Vale Ontario Operations and immediately prior to that she was the Director of Refining Operations.She has spent the last 10 years of her career at Vale in various executive roles within the operations. She is an accomplished leader and will be able to draw on her extensive operations management experience in processing plants, transport functions, oxygen and acid plants, maintenance shops, hydro generation and distribution, that will be invaluable to Torex.
She also has extensive experience in safety, health, environmental protection, labour negotiations and in working with indigenous communities.Interfacing with governments and regulatory authorities and her legal background round out the experience base that she will draw from as she leads the operations team through the implementation of operations management systems.These systems and the leadership behaviors they engender will be the foundation of our continuous improvement focus and one of the platforms of our growth strategy.
Additionally, Jody is recognized for her keen intellect and problem-solving abilities, complemented by values and understanding of the System’s Leadership Models that Torex employs to successfully operate and thrive in challenging environments.We all welcome Jody to the team, and as a team we look forward to growing the business.”
Torex is an intermediate gold producer based in Canada, engaged in the exploration, development and operation of its 100% owned Morelos Gold Property, an area of 29,000 hectares in the highly prospective Guerrero Gold Belt located 180 kilometers southwest of Mexico City. The Company’s principal assets are the El Limón Guajes mining complex (the “ELG Mine Complex”), comprised of the El Limón, Guajes and El Limón Sur open pits, the El Limón Guajes underground mine including zones referred to as Sub-Sill and El Limón Deep, and the processing plant and related infrastructure, which is in the commercial production stage as of April 1, 2016, and the Media Luna deposit, which is an early stage development project, and for which the Company issued an updated preliminary economic assessment in September 2018. The property remains 75% 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
This press release contains “forward looking statements” and “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking statements include the start date and expectations of the Company’s incoming COO, expectations of implementing the operations systems, transitioning from ramp up to stable operations and continuous improvement mode, and plan to advance the growth of the Company. Forward-looking information is subject to known and unknown risks, uncertainties and other factors
that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including, without limitation, those risk factors identified in the Company’s annual information form and management’s discussion and analysis. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made. Although 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. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.