November 7, 2017
Torex Reports Credible Threats By The Blockaders Against ELG Site Staff
TORONTO, Ontario, November 7, 2017 - Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) reports that during the evening of Monday, November 6th, a group of approximately 35 persons, entered the ELG mine site and threatened the site staff. These staff members were monitoring to protect the environment, monitoring the pumps in the open pits, and maintaining the processing plant status to that required for a rapid restart of operations upon conclusion of the illegal blockade of the site access road. Of the 35 persons, about 25% were unknown to the Company, the rest were local citizens. These individuals told the ELG staff, that if they did not leave by Tuesday, November 7th, then they would be forcibly removed from site. The staff have been evacuated from the site and the off-site accommodation facilities are in the process of being evacuated. The Company has requested to the appropriate authorities that they take action to restore law and order.
Fred Stanford, President & CEO of Torex stated: “This escalation will weaken the relationship between employees and the company and between contractors and the Company. Upon resolution of the illegal blockade, the schedule to restart the operations will be dependent on how many personnel elect to return to site. This is an unknown outcome, at this time.”
The illegal blockade of the ELG Mine started on November 3, 2017; see press release issued by the Company on November 6, 2017.
Torex is an emerging 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. Within this property, Torex has the El Limón-Guajes Mine, which announced commercial production in March of 2016 and the Media Luna Project, which is an early stage development project, and for which the Company issued a preliminary economic assessment (PEA) in 2015. The property remains 75% unexplored.
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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. Notwithstanding the Company’s efforts, there can be no guarantee that the Company will not face unforeseen delays or disruptions. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the activities of the Company to be materially different from those expressed or implied by such forward-looking information, including those risk factors identified in the Company’s annual information form and management’s discussion and analysis.
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