TXG Torex Gold Resources Inc

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Torex Gold Resources Inc. (TSX:TXG) (the "Company" or "Torex") has announced
today that it has entered into an agreement with a syndicate of underwriters led
by BMO Capital Markets, under which the underwriters have agreed to buy on a
bought deal basis by way of a short form prospectus, 104,200,000 units (the
"Units") each unit consisting of one common share and one half of one common
share purchase warrant, at a price of C$1.20 per Unit for gross proceeds of
C$125,040,000 (the "Offering"). Each whole common share purchase warrant will
entitle the holder to purchase one common share of the Company at a price of
C$1.50 prior to the date which is 6 months following the closing of the
Offering. The Company has granted the Underwriters an option, exercisable at the
offering price for a period of 30 days following the closing of the Offering, to
purchase up to an additional 15% of the Offering to cover over-allotments, if
any. The Offering is expected to close on or about February 12, 2014 and is
subject to the Company receiving all necessary regulatory approvals.


The net proceeds of the offering will be used to fund the development of the El
Limon and Guajes project and for general corporate purposes.


As discussed in the Company's third quarter results, the Company received a
letter from the lead arrangers of the project finance facility indicating they
are now considering an increased targeted facility amount of up to US$350
million, a portion of which may comprise a cost overrun facility. The Company
subsequently entered into a new engagement letter with the lead arrangers to
accommodate up to US$300 million of the larger targeted facility, with the
balance to be sought from additional lenders. The lead arrangers are working
towards receiving credit approvals and providing final commitments by the end of
Q1 2014. 


The Company is also considering alternative financing solutions which, if
completed and in conjunction with the Offering, would be sufficient to fund the
development of the El Limon and Guajes project without requiring additional
equity financing.


The Units will be offered by way of a short form prospectus in all of the
provinces and territories of Canada. 


This press release shall not constitute an offer to sell or the solicitation of
an offer to buy nor shall there be any sale of the securities in the United
States or in any other jurisdiction in which such offer, solicitation or sale
would be unlawful. The securities have not been registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the United
States absent registration or an applicable exemption from the registration
requirements thereunder.


About Torex

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 Property, which is located 180 kilometres
southwest of Mexico City in the highly prospective Morelos Gold Belt. Torex is
aggressively exploring within its property to identify a pipeline of additional
future economic deposits. The property covers an area of 29,000ha of which more
than 75% remains 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 completion of the Offering, use of proceeds of the Offering,
information with respect to future exploration and development plans concerning
the Morelos Gold Property, including expected drilling results and the timing
within which the Company expects to receive drilling results, anticipated timing
for the completion of information with respect to the Company's feasibility
study and technical studies on the 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 based on the reasonable assumptions,
estimates, analysis and opinions of management made at the date that such
statements are made. 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 a need to reallocate the use of proceeds of the Offering due to
changes in the exploration and development plans for the El Limon and Guajes
project, or for other prudent business reasons, and the risk factors disclosed
elsewhere in the Company's public disclosure. Accordingly, readers should not
place undue reliance on forward-looking information. The forward-looking
information contained herein is presented for the purposes of assisting
investors in understanding the Company's financial and operating performance 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


FOR FURTHER INFORMATION PLEASE CONTACT: 
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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