September 21, 2015
Torex Signs an Agreement with the State Government for Permanent Police Presence
TORONTO, Ontario, September 21, 2015 – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) is pleased to announce that its 100% owned subsidiary Minera Media Luna, S.A. de C.V. (“MML”) has signed a letter of intent (“LOI”) with the Ministry of Public Safety of the State Government of Guerrero (the “Ministry”), endorsed by the Federal Government, for the provision of permanent police presence in the areas adjacent to the Company’s Morelos Gold Property in southwest Mexico.
Fred Stanford, President and CEO of Torex stated: “Our team has been working collaboratively with the Mexican State and Federal Governments to establish a long-term program to provide security to the communities in and around our El Limon-Guajes (ELG) Mine and the Media Luna Project. This letter of intent is the first step in establishing a pilot program between the government and the private sector to provide security conditions that are conducive to economic development and social stability in the area.”
In the first stage of the pilot program, the Ministry will establish three check points with permanent police presence which, along with regular patrols, will control access to the communities in the areas adjacent to our ELG Mine. The Media Luna Project, will receive some security benefits from this pilot program, with more comprehensive coverage planned for later programs. MML will support the program with infrastructure including lodging for the police force, and goods and services in the form of transportation and vehicle maintenance. The program will come into effect immediately upon settling and signing a formal agreement on terms and conditions mutually acceptable to the parties and may be renewed on a yearly basis by agreement of the parties. It is the vision of the program to extend its influence to the entire Guerrero Gold Belt in the future through similar agreements with other mining companies operating in Guerrero.
Torex is a growth-oriented, Canadian-based resource company engaged in the exploration and development 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 two projects: the El Limon-Guajes (ELG) Mine, currently under development, and the Media Luna Project, at an advanced stage of exploration. Torex intends to identify a pipeline of future economic deposits within its property, which 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
Email: email@example.comCAUTIONARY 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 information also includes, but is not limited to, the settling and signing of a formal agreement for the pilot program and the plans to extend the program to the entire Guerrero Gold Belt. 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”, “will” or “will be taken”, “occur”, or “be achieved”. 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 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 its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Although the Company believes that the assumptions and expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on forward-looking information because the Company can give no assurance that such expectations will prove to be correct. 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. 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:November 5th, 2015, Torex Announces Third Quarter 2015 Results
You can view the Previous News item:September 14th, 2015, Torex Completes the Resettlement of La Fundicion Village
Back to the main News page, or press the Back button on your browser.