2011-05-30 06:54 ET – News Release

Mr. Fred Stanford reports

TOREX CONTINUES TO EXPAND THE EL LIMON DEPOSIT AT ITS MORELOS GOLD PROJECT

Torex Gold Resources Inc. continues to encounter high-grade gold mineralization in step-out drilling to the east of the southern end of its El Limon deposit. The extension of the deposit by about 280 metres to the east could more than triple the known width of the deposit at that southern end, which continues to be open farther to the east.

The three most easterly bore holes drilled to date all have significant mineralized intervals at encouraging grades. One of them, TMP-1060, delivered results of 2.70 grams per tonne (g/t) over 44.28 metres including 4.79 g/t over 10.76 metres. Farther to the north and closer to the known deposit, step-out bore hole TMP-1036 delivered results of 12.33 g/t over 5.65 metres and an additional 4.06 g/t over 7.55 metres.

Elsewhere in the El Limon deposit, infill drilling continues to increase confidence in the current resource estimate. Results include 10.97 g/t over 33.2 metres and an additional 1.27 g/t over 10.3 metres from bore hole TMP-1019. Bore hole TMP-1013 delivered results that included 5.77 g/t over 47.6 metres and an additional 8.09 g/t over 13.4 metres.

To date, Torex has drilled a total of 99 bore holes (15,446 metres) at the El Limon deposit. The 23 bore holes (3,500 metres) being reported today were completed prior to the temporary suspension of drilling announced March 24, 2011. Assays results for an additional 15 bore holes (1,475 metres) are pending and will be announced upon receipt.

Fred Stanford, president and chief executive officer of Torex, stated: “Today’s results support our confidence in attaining our goal of defining a global resource of five million ounces of gold north of the Balsas River. The potential to significantly increase the width of the El Limon pit at the southern end of the deposit could not only add significant ounces of gold but could also enhance the productivity and profitability of potential mining operations.” He added: “We are looking forward to the resumption of drilling activities in June to further define and expand the known deposits and to continue the search for new deposits. By the time we get back up to full drill performance, the delay will be about three months which will push our next resource estimate out until fourth quarter 2011. In the meantime, our staff have returned to the project site and are resuming activities as planned.”

HIGHLIGHTS FOR STEP-OUT DRILLING ON THE
SOUTHERN PART OF EL LIMON DEPOSIT

Interval (m) Interval
BH ID From To length (m) Au (g/t)

TMP-1026 32.05 35.05 3.00 2.07
68.55 73.05 4.5 7.50
TMP-1036 18.10 23.75 5.65 12.33
40.50 47.85 7.35 2.08

55.40 62.95 7.55 4.06

TMP-1060 34.86 79.14 44.28 2.69
46.86 57.62 10.76 4.79
48.36 57.62 9.26 5.11

74.76 79.14 4.38 3.95
TMP-1070 46.44 55.23 8.79 5.23
49.44 53.94 4.50 9.06
TMP-1106 47.93 62.19 14.26 2.25
50.07 53.63 3.56 8.25

HIGHLIGHTS FOR INFILL DRILLING ON THE
NORTHERN PORTION OF EL LIMON DEPOSIT

Interval (m) Interval
BH ID From To length (m) Au (g/t)

TMP-1013 30.89 149.50 118.61 2.90
64.00 78.00 14.00 3.67
66.00 69.00 3.00 15.72
81.00 128.56 47.56 5.77
81.00 97.30 16.30 9.40
115.12 128.56 13.44 8.08
TMP-1019 163.10 196.25 33.15 10.97
164.60 184.50 19.90 17.57
169.60 176.65 7.05 20.69
172.50 176.65 4.15 32.32
180.00 184.50 4.50 38.66

Quality assurance/quality control

At the Morelos gold project, all of the analytical work is performed by SGS de Mexico SA de CV in Mexico. Sample preparation is done at a dedicated sample preparation laboratory operated by SGS at the project site in Nuevo Balsas, Guerrero, Mexico. The Au analyses (fire assay with an atomic absorption or gravimetric finish) and multielement geochemical analyses are completed by SGS at its analytical facilities in Durango, Durango, Mexico. Torex has a quality assurance/quality control (QA/QC) program in place that includes 5 per cent each of the certified reference materials, blanks, field duplicates and preparation duplicates. The QA/QC program as designed has been approved by AMEC E&C Services Inc. and is overseen by Dr. Jeffrey W. Brooks, chief geologist for Torex.

The company follows strict QA/QC protocol measures in keeping with industry standards and regulatory reporting requirements. Jerry E. Snider, BSc, mining engineering, MBA, project manager of Torex, is the qualified person who has reviewed this news release and is responsible for the technical information reported herein, including verification of the data disclosed, the sampling, analytical and test data underlying the technical information.

Further information regarding the Morelos gold project is contained in the technical report entitled Torex Gold Resources Inc. Morelos gold project, Guerrero, Mexico, NI 43-101 technical report — underground and open-pit resources, dated Jan. 26, 2011, and effective Oct. 22, 2010.

May 31st, 2011
Categories: Uncategorized . Author: caliche