June 13, 2011

Torex Reports Second Quarter Results

(All amounts expressed in Canadian Dollars unless otherwise stated)

TORONTO, Ontario, June 13, 2011 - Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) announced today its financial results for the three and six months ended April 30, 2011.

  • Following a temporary suspension of on-site activities at the Morelos Gold Project, work at the site resumed subsequent to the quarter-end following the implementation of public and internal security north of the Balsas River
  • The Company continued to encounter high-grade gold mineralization in step-out drilling that is expected to add significant ounces to the global resource and extended the known mineralization at all three of the Morelos gold deposits
  • Infill drilling also encountered significant intersections of high-grade gold mineralization that continued to increase confidence in the current resource estimates
  • James Crombie appointed to the board of directors

The net loss for the three and six months ended April 30, 2011 increased to $7.6 million and $13.7 million compared with a loss of $3.3 million for the three months and $7.4 million for the six months ended April 30, 2010. Exploration and project development expenditures totalled $7.1 million and $11.5 million during the three and six months ended April 30, 2011 compared to $0.8 million and $0.9 million in the same periods in 2010. This increase was partially offset due to a year-over-year decrease in stock-based compensation and an increase in the provision for future income tax recovery. The Company’s cash position decreased by $15.6 million during the first half of fiscal 2011 compared with an increase of $60.3 million in 2010. At April 30, 2011, the Company had $357.9 million in assets including $47.1 million of cash and had a working capital balance of $51.9 million.

A complete set of the Company’s unaudited interim consolidated Financial Statements and related Notes for the three and six months ended April 30, 2011 and Management’s Discussion and Analysis will be posted on the Company’s website atwww.torexgold.com and will be filed on Sedar at www.sedar.com.

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:

Fred Stanford
President and CEO
Tel. (647) 260-1502
Email: fred.stanford@torexgold.com

Gabriela Sanchez
Vice President Investor Relations
Tel. (647) 260-1503
Email: gabriela.sanchez@torexgold.com

This press release contains “forward looking statements” and “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information with respect to future exploration and development plans concerning the Morelos Gold Project, including expected timing for mobilizing drills on the project, expected drilling results and the timing within which the Company expects to receiving drilling results, anticipated timing for the completion of a pre-feasibility study and other technical studies on the project. Generally, forward-looking information can be identified by the use of forward-looking 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”, “might”, or “will be taken”, “occur”, or “be achieved”. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made 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 the risk factors disclosed elsewhere in the Company’s public disclosure. 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 expected financial and operating performance and the Company’s plans and objectives 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.

You can view the Next News item:June 27th, 2011, Torex Continues to Confirm its Guajes East and West Deposits

You can view the Previous News item:May 30th, 2011, Torex Continues to Expand the El Limon Deposit at its Morelos Gold Project

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