|By Marketwired .||
|March 18, 2014 05:00 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 03/18/14 -- Torex Gold Resources Inc. (TSX: TXG)(TSX: TXG.WT) (the "Company" or "Torex") announced today that Andrew Gottwald, CFO of the Company since its inception four years ago, will be leaving Torex to pursue other interests. The Company has appointed Jeff Swinoga as its new Chief Financial Officer, effective April 7th, 2014.
Fred Stanford, President and CEO of Torex, stated: "On behalf of the whole company and the Board, we thank Andrew for his dedication and invaluable contribution in building Torex from a junior explorer to an upcoming gold producer with solid financial systems and a very strong finance team. We welcome Jeff to the team with the conviction that his many years of expertise in the mining industry will be an excellent foundation from which to lead the finance team through the next stages of development and production."
Mr. Swinoga is a senior executive with over twenty years of experience in the mining and public finance industries. His experience includes successfully leading finance teams through the different stages of project financing, construction and into production. He has served as Executive Vice President Finance & CFO of Golden Star Resources Ltd, Vice President Finance & CFO of North American Palladium, Vice President, Finance & CFO of HudBay Minerals Inc., and was Director, Treasury Finance of Barrick Gold Corporation for seven years. Mr. Swinoga is a Chartered Professional Accountant and also holds a Master of Business Administration degree from the University of Toronto and an Honours Economics degree from the University of Western Ontario.
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 currently constructing its El Limon - Guajes Project and continues to explore 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 the use of proceeds of the Offering, and information with respect to future exploration and development plans concerning the Morelos Gold Property. 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 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.
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