Torex Gold closes acquisition of Reyna Silver

Executive Summary

• Torex Gold Resources Inc. completed the all‑cash acquisition of Reyna Silver Corp., paying approximately $26 million US ($36 million CAD) at C$0.13 per share.
• The deal adds four early‑stage exploration properties (Batopilas, Guigui in Mexico; Gryphon and Medicine Springs in Nevada) to Torex’s portfolio, with planned 2025–2026 exploration programs.
• Post‑closing, Torex will invest ~$500 k in Batopilas and $1.1 million in Gryphon during 2025 for target definition and regional work.

Key Details

• Transaction Value: ~US$26 M (CAD$36 M) cash consideration.
• Share Price Paid: C$0.13 per Reyna Silver common share.
• Ownership Acquired: 100 % of Reyna Silver’s outstanding common shares.
• Properties Added:
• Batopilas (100 % owned, Chihuahua, Mexico) – exploration focus 2025.
• Gryphon (up to 70 % earn‑in interest, Nevada) – exploration focus 2025.
• Guigui (100 % owned, Chihuahua, Mexico) – exploration focus 2026.
• Medicine Springs (potential 100 % earn‑in, Nevada) – exploration focus 2026.
• Planned Exploration Investment 2025:
• Batopilas: ~$500,000 for target definition and selection of two priority drill targets.
• Gryphon: ~$1.1 million for target definition, geochemistry, geophysics, and remote‑sensing work.
• Strategic Rationale: Expands early‑stage exploration pipeline; leverages Torex’s “exploration system” to advance projects from target selection to reserve definition; complements strong free cash flow from the Morelos complex.

Notable Quotes

“We are pleased to add four exciting, early‑stage exploration properties to our portfolio… we are well positioned to realize the full value of these properties and generate significant long‑term value for our shareholders through this transaction.” – Jody Kuzenko, President & CEO, Torex Gold Resources Inc.