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Torex Executes Engagement Letter for US$250 Million Project Finance Facility

Torex Executes Engagement Letter for US$250 Million Project Finance Facility 
TORONTO, ONTARIO -- (Marketwire) -- 02/25/13 -- Torex Gold Resources
Inc. (the "Company" or "Torex") (TSX:TXG)(TSX:TXG.W.A) announced
today that it has signed an engagement letter ("Engagement Letter")
with a club of five financial institutions (the "Banks") in
connection with a planned project finance facility for the
development of the Company's 100% owned Morelos Gold Project. The
Banks consist of BMO Capital Markets, BNP Paribas, Commonwealth Bank
of Australia, ING Capital LLC and Societe Generale. The Engagement
Letter establishes the terms under which the Banks have been
appointed to deliver on a club basis a project finance facility of
US$250 million and is subject to due diligence, the completion of
definitive loan documentation, credit and certain other approvals and
the terms and conditions all as set out in the indicative term sheet
(the "Term Sheet") attached to the Engagement Letter. The execution
of a commitment letter and definitive documentation is expected in
the third quarter of 2013. The Term Sheet includes standard and
customary project finance terms and conditions with respect to fees,
interest rate margins and conditions precedent to closing. There is
no requirement for mandatory gold hedging. 
Fred Stanford, President & CEO of Torex stated: "With approximately
$395 million in the treasury now, we are well financed to advance the
engineering and procurement processes that support construction
starting immediately upon the receipt of the construction permits
that are anticipated during the summer of this year. The attainment
of this milestone in the debt financing process is a significant
factor in de-risking the project and we look forward to working
through the due diligence process and ultimately to signing a
commitment letter with the Banks for the project finance facility.
This project finance facility has been sized to avoid a requirement
for gold hedging." 
Torex is a growth-oriented, Canadian-based resource company engaged
in the exploration and development of precious metal resources with a
focus on gold. It owns 100% of the Morelos Gold Project, a
development stage project, located 180 kilometres southwest of Mexico
City in the highly prospec
tive Morelos Gold Belt. Torex is
aggressively exploring within its property to identify a pipeline of
additional future economic deposits. The project covers an area of
29,000 hectares of which more than 75% remain 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. Forward-looking information
includes, but is not limited to, information with respect to the
permitting and construction of the Company's Morelos Gold Project.
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", or "will be taken",
"occur", or "be achieved". 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
those risk factors identified in the Company's current annual
information form. 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. The forward-looking
information contained herein is presented for the purposes of
assisting investors in understanding the Company's exploration
results and the Company's plans and objectives and may not be
appropriate for other purposes. The Company does not undertake to
update any forward-looking information, except in accordance with
applicable securities laws.
Contacts:
Torex Gold Resources Inc.
Fred Stanford
President and CEO
(647) 260-1502
fred.stanford@torexgold.com 
Torex Gold Resources Inc.
Gabriela Sanchez
Vice President Investor Relations
(647) 260-1503
gabriela.sanchez@torexgold.com
 
 
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