ELG Complex

The El Limón Guajes Complex has been in operation since December 2015 and reached commercial production in April 2016. The complex is comprised of a centralized processing facility as well as the El Limón and Guajes open pits and Sub-Sill underground. The El Limón Deep (ELD) underground has been committed to testing the Company’s proprietary Muckahi mining system in 2020. The operation utilizes filtered tailings, a process in which the moisture content of tailings is reduced to 17%. Tailings are then conveyed and stacked within the storage facility, which will be revegetated upon closure.

The El Limón Guajes Complex produced 454,810 ounces of gold in 2019, surpassing the prior record established in 2018 by 28%. As a result of the temporary suspension of operations until April 30, 2020, as per the decree issued by the Mexican Government to mitigate the spread of COVID-19, operational guidance for 2020 has been suspended. At this time, there is no clear line of sight as to when, how often, and how long this pandemic is going to affect the ability to produce (refer to the Company’s press released dated April 2, 2020). Original operational guidance for 2020 (refer to the Company’s press release dated January 14, 2020) called for gold production of 420,000 and 480,000 ounces at a total cash cost of $640 to $670 per ounce gold sold and an all-in sustaining cost of $900 to $960 per ounce gold sold.

Additional technical information is contained in the technical report entitled "Morelos Property, NI 43-101 Technical Report, ELG Mine Complex Life of Mine Plan and Media Luna Preliminary Economic Assessment, Guerrero State, Mexico" dated effective March 31, 2018, and filed on September 4, 2018 (the "Technical Report"). The technical information contained in this website is based upon the information contained in the Technical Report which is available on SEDAR at www.sedar.com and elsewhere on the Company's website at www.torexgold.com and as updated in the Company's continuous disclosure documents also available on www.sedar.com and www.torexgold.com.