Assets

The Morelos Property is an approximately four-hour drive from Mexico City and easily accessible via paved roads. It is located near established centres of supply for materials. Power for mining operations is available from a 115 kV line that crosses over the Property with plans to tie into a nearby 230 kV line planned for 2025. The increased power capacity will provide sufficient power to support the operation of Media Luna as well as future deposits such as EPO. Power at site will also be sourced from an 8.7 MW solar plant which is expected to come online in mid-2025. Water for processing and exploration is sourced from nearby wells.

The ELG Underground and Open Pit mines as well as the processing plant are located on the north side of the Balsas River while Media Luna and EPO are located to the south. The seven-kilometre long Guajes Tunnel unifies the north and south sides of the property and significantly reduces travel times between the two sites. Ore from Media Luna is transported to the processing plant via an underground conveyor that spans the length of the Guajes Tunnel. The tunnel will also provide a conduit to transport people, supplies, and materials.

The centralized processing plant has the ability to treat 10,600 tonnes per day of ore. The process plant was recently upgraded, with copper and iron-sulphide flotation circuits added ahead of the leaching circuit in order to treat higher copper levels associated with ore from Media Luna and EPO. The primary products produced from the processing plant will be a precious metal rich copper concentrate and gold/silver doré.

Media Luna will contribute the largest amount of feed for the processing plant, with steady state mining rates around 7,500 tonnes per day. ELG Underground is expected to contribute approximately 2,800 tonnes per day through 2026 until construction of EPO is complete, before returning to levels more consistent with previous years (1,500 to 2,000 tonnes per day). Average mining rates at EPO are expected to average approximately 1,700 tonnes per day.

Torex is also committed to a greener future and has deployed a hybrid electric fleet for mining at Media Luna. Over 70% of the fleet at Media Luna will be battery electric, which will not only reduce carbon emissions from the mine, but also reduce the amount of ventilation required which in turn will reduce energy consumption relative to diesel powered underground operations.