The Morelos Gold Property, is an area of 29,000 hectares in the highly prospective Guerrero Gold Belt, located 180 kilometres southwest of Mexico City, in the state of Guerrero, Mexico. The Property is only a four hour drive from Mexico City on paved roads. It is easily accessible and located near established centres of supply for materials and workers. Power for mining operations is available from a 115kV line that crosses over the Property and water for process and exploration is sourced from nearby wells.

Torex Property: 29,000 hectares in the heart of the Guerrero Gold Belt

Within this Property, the Company's principal assets are the El Limon Guajes Mining Complex (the "ELG Mine Complex"), comprised of the El Limon, Guajes and El Limon Sur open pits (the "ELG Open Pits"), the El Limon Guajes underground mine including zones referred to as Sub-Sill and El Limon Deep (collectively, the "ELG Underground"), and the processing plant and related infrastructure, which reached the commercial production stage as of April 1, 2016. In addition, the Media Luna deposit (the "Media Luna Project"), is an early stage development project for which the Company issued a Preliminary Economic Assessment (the "PEA") on September 4, 2018.

The Company's strategy is to grow production from high quality assets. The Morelos Gold Property provides significant opportunity to implement this strategy. The Media Luna Project provides mid-term growth potential. The developing ELG Underground provides near-term growth opportunity in both the Sub-Sill and the El Limon Deep zone. The many untested exploration targets on this prolific property provide long-term growth opportunities.