Torex Gold Reports Three Fatalities at the ELG Underground Mine

Rhea-AI Summary

Torex Gold Resources reports a tragic incident at their El Limón Guajes (ELG) underground mine where three workers lost their lives due to carbon monoxide exposure on December 5th. Two employees and one contractor, aged 32, 36, and 39, were fatally affected. A fourth contract employee was hospitalized and is expected to recover.

The company has suspended operations at the ELG Underground mine and notified relevant authorities. An investigation will be conducted to determine the cause of the accident. The company's management expressed their commitment to supporting the affected families and understanding the cause of this tragic incident.

Positive

• None.

Negative

• Fatal accident resulting in three deaths at ELG Underground mine
• Operations suspended at ELG Underground mine pending investigation
• Potential regulatory and safety compliance implications
• Possible production impact due to mine suspension

News Market Reaction – TORXF

-12.67%

1 alert

-12.67% News Effect

On the day this news was published, TORXF declined 12.67%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Toronto, Ontario--(Newsfile Corp. - December 5, 2024) - Torex Gold Resources Inc. (the "Company" or "Torex") (TSX: TXG) regretfully announces that during the day shift on December 5^th, a fatal carbon monoxide gas exposure occurred, which claimed the lives of two employees and one contractor at the El Limón Guajes underground mine ("ELG Underground"). A fourth contract employee was also in the area and is currently in hospital and expected to recover.

Jody Kuzenko, President & CEO of Torex, stated:

"We are devastated by the deaths of these colleagues who were working at ELG Underground. While the details are very limited at this time, we do know that a 32-year old male, a 36-year old male and a 39-year old male have lost their lives to carbon monoxide exposure. Our priority right now is to fully support their families and our people, as we start the work to understand how this occurred."

The appropriate authorities have been notified and will receive the Company's full cooperation. Activities at ELG Underground have been suspended and an investigation to determine the cause of the accident will commence shortly.

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 kilometres southwest of Mexico City. The Company's principal asset is the Morelos Complex, which includes the El Limón Guajes ("ELG") Mine Complex, the Media Luna Project, a 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: integrate and optimize the Morelos Property; deliver Media Luna to full production; grow reserves and resources; disciplined growth and capital allocation; retain and attract best industry talent; and build on ESG excellence.

FOR FURTHER INFORMATION, PLEASE CONTACT:

TOREX GOLD RESOURCES INC.
Jody Kuzenko
President and CEO
Direct: (647) 725-9982
jody.kuzenko@torexgold.com

Dan Rollins
Senior Vice President, Corporate Development & Investor Relations
Direct: (647) 260-1503
dan.rollins@torexgold.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232717

FAQ

What happened at Torex Gold's ELG Underground mine on December 5th, 2024?

Three workers (two employees and one contractor) died from carbon monoxide exposure at Torex Gold's ELG Underground mine, while a fourth contract employee was hospitalized but is expected to recover.

Has Torex Gold (TORXF) suspended operations at the ELG Underground mine?

Yes, Torex Gold has suspended activities at the ELG Underground mine pending an investigation into the fatal accident.

How many fatalities occurred in the December 5th incident at Torex Gold's mine?

Three fatalities occurred: two Torex Gold employees and one contractor, aged 32, 36, and 39, died due to carbon monoxide exposure.