Media Luna provides economic benefits for more than 600 companies in Guerrero

This is an automated translation of the press release issued in Spanish

Chilpancingo de los Bravo, Guerrero; September 13, 2023.- With the purpose of increasing the number of Guerrero companies in the mining supply chain, the company Minera Media Luna, a subsidiary of Torex Gold Resources Inc, participated in the first Guerrero Minero Forum, transforming the supply local.

Coordinated by the Secretariat of Economic Development and Development (Sefodeco), the state government and mining companies in the state such as Equinox Gold , Grupo Peñoles and Torex Gold , the Guerrero Mining Forum brought together companies from Guerrero interested in linking directly as suppliers of goods and services of the industry in this sector.

In his message, the vice president of Mexico for Torex Gold, Faysal Rodríguez Valenzuela, announced that Minera Media Luna (MML) generates an economic benefit that includes hiring more than 600 Guerrero companies as direct suppliers.

He added that such a contract represented a payment that exceeds 1.7 billion pesos, during 2022 alone, almost 50 percent more than the expense for the same concept than in 2021.

Likewise, he pointed out that so far this year, Media Luna has increased the number of suppliers, prioritizing offers from local companies, providing advice and support in the processes of legal incorporation of new companies.

Representing the governor, Evelyn Salgado Pineda, the Secretary General of the Government, Ludwig Marcial Reynoso Núñez highlighted the investment generated by mining activity in the entity, for which he recognized the development opportunities for local supplies for the well-being of the people and the people of Guerrero, mining being the second most important economic activity for Guerrero.

Likewise, the Secretary of Economic Development and Development, Teodora Ramírez Vega mentioned that the forum managed to incorporate more than 160 companies from Guerrero, which used the state government platform to later join the mining supply chain.

Present were the Secretary of Finance and State Administration (Sefina), Raymundo Segura Estrada; that of Welfare, María del Carmen Cabrera Lagunas; of Comprehensive Risk Management and Civil Protection, Roberto Arroyo Matus; that of Labor and Social Security, Luis Armando Baños Rendón; the federal delegate of the federal government's social programs, Iván Hernández Díaz.

The president of the Political Coordination Board of the Congress of Guerrero, Yoloczin Domínguez Serna, also attended; the president of the Mining Commission of the local Congress, Andrés Guevara Cárdenas; the municipal president of Eduardo Neri, Sara Salinas Bravo; and the president of Cocula, Carlos Alberto Duarte Bahena.

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ABOUT TOREX GOLD RESOURCES INC.

Torex is a Canada-based intermediate gold producer engaged in the exploration, development and operation of its 100% owned Morelos Property, a 29,000 hectare area in the highly prospective Guerrero Gold Belt located 180 kilometers southwest of Mexico City.

The Company's main asset is the Morelos Complex, which includes the El Limón Guajes Mining Complex (“ELG”), the Media Luna Project, the processing plant and related infrastructure. Commercial production from the Morelos Complex began on April 1, 2016 and an updated Technical Report for the Morelos Complex was published in March 2022.

Torex's key strategic objectives are to expand and optimize production from the ELG Mining Complex, reduce risk and advance Media Luna to commercial production, based on ESG excellence.