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TORONTO, ONTARIO -- (Marketwire) -- 11/03/11 -- Torex Gold Resources Inc. ("Torex", the "Company") (TSX:TXG) wishes to remind holders of its common share purchase warrants, exercisable at $1.30 per share, (the "Warrants") that the Warrants will expire at 5:00 pm (Toronto time) on November 14, 2011. The Warrants had an expiry date of November 12, 2011; however, such date is not a business day and therefore the expiry date of the Warrants has been extended to the next business day following such date.
"We have the financial resources to carry out currently planned work to advance the development of our Morelos Gold Project in Mexico, including the completion of the resource estimate in Q1/2012 and the bankable feasibility study in Q2/2012," said Fred Stanford, President and CEO of Torex. "However, the proceeds of the Warrants would provide us the flexibility to place orders for long lead time equipment and, provided that permits are in place, get a start on 'early works' that will allow us to advance the critical path items on the construction schedule and thereby reduce construction schedule risk." he added.
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.