TORONTO, April 11, 2018 (GLOBE NEWSWIRE) -- Torex Gold Resources Inc.
(the “Company” or “Torex”) (TSX:TXG) received a notification from the Federal
Labour Board advising the Company that the Los Mineros Union has withdrawn its challenge to be the legally constituted union for
the union-eligible ELG Mine Complex employees. This withdrawal action means that there is no longer a choice between unions
to be made by employees and it results in the termination of the government sanctioned union selection process.
Fred Stanford, President & CEO of Torex stated: “Enough has already been said about the disruption caused by
this union representation challenge and associated illegal blockade. With the recent end of the blockade and now the end of
the union representation challenge, we can move forward with an absolute focus on value creation for shareholders and all
stakeholders. 2018 promises to be a year of many catalysts and the entire team looks forward to delivering on the full value
of the asset.” He added, “Torex has always supported the legally sanctioned, democratic union selection process. We see
this Los Mineros Union withdrawal from the union selection process as a tacit acknowledgement that the incumbent CTM Union has the
support of the majority of union eligible employees.”
About Torex
Torex is an intermediate gold producer based in Canada, engaged in the exploration, development and operation 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 the ELG Open Pits, the ELG Underground Mine, and the Media
Luna Project, which is an early stage development project, and for which the Company issued a preliminary economic assessment (PEA)
in 2015. The property remains 75% unexplored.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
This press release contains “forward-looking statements” and “forward-looking information” within the meaning of
applicable Canadian securities legislation. Notwithstanding the Company’s efforts, there can be no guarantee that the Company will
not face unforeseen delays or disruptions, including delays and disruptions that may be connected to other illegal blockades in the
future. Forward-looking information includes, but is not limited to, statements regarding resuming normal operations, creating
value for shareholders and stakeholders, the promise of catalysts, delivering on the full value of the asset, the view that Los
Mineros tacitly admits the CTM union has the majority support of the employees, , the resolution of the union selection vote.
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
based on the reasonable assumptions, estimates, analysis and opinions of management made at the date that such statements are made.
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 without limitation, 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.