Assets

For 2025, Torex plans to invest a record $45 million for drilling and exploration with a target of drilling 124,500 metres, nearly double the metres drilled in 2024.

Media Luna accounts for a substantial portion of the 2025 drilling budget at $26 million. Approximately 66,500 metres of drilling is planned for the Media Luna Cluster to be focused on infill and expansionary drilling at EPO, advanced exploration at Media Luna West, and launching inaugural drilling programs at new prospective targets, Media Luna East and Todos Santos.

At ELG Underground, $12 million of drilling in 2025 will be focused on further exploring structural corridors, known as trends, and their intersections with the La Flaca and Z71 faults. The purpose of the program is to continue to grow resources and replace reserves, extending mine life year-after-year for the foreseeable future. Approximately 48,000 metres of drilling at ELG Underground is targeted for 2025.

Additionally, $7 million will be invested in exploring targets more broadly across the Morelos Property. The main areas of the 2025 regional program will be drill testing a cluster of mineralization at El Naranjo (5,000 metres) as well as several targets in the Atzcala corridor (5,000 metres).

Through the targets identified to date, there is significant potential to enhance and extend the production profile at Morelos with the goal of mining at Morelos for decades to come.