Torex Gold Announces Results of Its 2022 Meeting of Shareholders


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TORONTO, June 22, 2022 (GLOBE NEWSWIRE) – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX: TXG) announces the results of its 2022 annual and special meeting of shareholders (the “Meeting”) held virtually today.

The meeting marked the re-appointment of Rick Howes as Chair of the Board as well as the re-election of seven current Directors. The Meeting also marked the retirement of Frank Davis, who served on Torex’s Board of Directors for more than a decade. Results of the meeting are set out below.

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Rick Howes, Chair of the Board of Torex, stated:

“I am very pleased with the re-election of Directors and look forward to continuing work with each of them as we build our future in Mexico and beyond. We have an accomplished, skilled and diverse group of Directors – and for the first time in our history have achieved gender parity on our Board – something we are very proud of as we continue to do our part to seek greater diversity within the mining industry.

“I want to extend my sincere appreciation to Frank Davis, who has stepped down from the Board of Directors after more than a decade of outstanding service. He has been instrumental in building Torex into the Company today, and on behalf of the entire Torex team, I wish him well in his retirement. ”

ITEM 1. ELECTION OF DIRECTORS
At the Meeting, all director nominees listed in the Company’s management information circular (the “Circular”) dated May 11, 2022 were elected as directors of the Company. Detailed results of the vote by ballot are as follows:

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DIRECTOR VOTE TYPE NUMBER OF VOTES
% OF VOTES
Richard A. Howes For
Withheld
60,159,291
163,792
99.73%
0.27%
Jody LM Kuzenko For
Withheld
60,154,218
168,865
99.72%
0.28%
Tony S. Giardini For
Withheld
60,125,053
198,030
99.67%
0.33%
Jennifer J. Hooper For
Withheld
59,197,926
1,125,157
98.13%
1.87%
Jay C. Kellerman For
Withheld
57,956,343
2,366,740
96.08%
3.92%
Rosalie C. Moore For
Withheld
60,183,119
139,964
99.77%
0.23%
Roy S. Slack For
Withheld
60,194,390
128,693
99.79%
0.21%
Elizabeth A. Wademan For
Withheld
59,710,598
612,485
98.98%
1.02%

ITEM 2. APPOINTMENT OF AUDITOR
On a vote by ballot, KPMG LLP, Chartered Public Accountants, were re-appointed as auditors of the Company.

VOTES FOR % VOTES FOR VOTES WITHHELD % OF VOTES WITHHELD
63,272,543 99.70% 189,212 0.30%

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ITEM 3.

On a vote by ballot, a resolution was passed whereby the unallocated share units under the Employee Share Unit Plan were approved and authorized until the date of the Company’s annual shareholders’ meeting to be held in 2025.

VOTES FOR % VOTES FOR VOTES AGAINST % OF VOTES AGAINST
54,160,833 89.78% 6,162,250 10.22%


ITEM 4.

On a vote by ballot, a resolution was passed whereby the unallocated share units under the Restricted Share Plan were approved and authorized until the date of the Company’s annual shareholders’ meeting to be held in 2025.

VOTES FOR % VOTES FOR VOTES AGAINST % OF VOTES AGAINST
53,008,039 87.87% 7,315,044 12.13%


ITEM 5. ‘SAY ON PAY’ EXECUTIVE COMPENSATION

On a vote by ballot, a non-binding advisory resolution was passed accepting the approach to executive compensation disclosed in the Circular and delivered in advance of the Meeting.

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VOTES FOR % VOTES FOR VOTES AGAINST % OF VOTES AGAINST
58,680,391 97.28% 1,642,692 2.72%

The formal report on voting results with respect to all matters voted upon at the Meeting will be filed on SEDAR at www.sedar.com


ABOUT TOREX GOLD RESOURCES INC.

Torex is an intermediate gold producer based in Canada, engaged in the exploration, development, and operation of its 100% owned Morelos Property, an area of ​​29,000 hectares in the highly prospective Guerrero Gold Belt located 180 kilometers southwest of Mexico City. The Company’s principal asset is the Morelos Complex, which includes the El Limón Guajes (“ELG”) Mining Complex, Media Luna Project, processing plant and related infrastructure. Commercial production from the Morelos Complex commenced on April 1, 2016 and an updated Technical Report for the Morelos Complex was released in March 2022. Torex’s key strategic objectives are to extend and optimize production from the ELG Mining Complex, de-risk and advance Media Luna to commercial production, build on ESG excellence, and to grow through ongoing exploration across the entire Morelos Property.

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FOR FURTHER INFORMATION, PLEASE CONTACT:

TOREX GOLD RESOURCES INC.
Jody Kuzenko Dan Rollins
President and CEO Vice President, Corporate Development & Investor Relations
Direct: (647) 725-9982 Direct: (647) 260-1503
[email protected] [email protected]

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This press release contains “forward-looking statements” and “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information also includes but is not limited to the Company’s strategic objectives to extend and optimize production from the ELG Mining Complex and de-risk and advance Media Luna to commercial production. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “continue”, “strategy” and “ongoing” or variations of such words. 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 (“AIF”) and management’s discussion and analysis (“MD&A”). Forward-looking information is based on the assumptions discussed in the AIF and MD&A and such other reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated. 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. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, whether as a result of new information or future events or otherwise, except as may be required by applicable securities laws.

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