Additional capital deployed following approximately $505,000 initial investment; management targets approximately 120 ounces of monthly gold production and prepares for copper operations
GREEN VALLEY, Ariz., Oct. 13, 2026 (GLOBE NEWSWIRE) -- Torreon Group Inc./NEXT10 Inc. (OTC: NXTN) (or the “Company”), through Torreon Group, Inc., today announced the completion of its Phase One investment program at its mining operations in Panuco, as the Company continues expanding gold production and prepares for the next stage of the project.
Earlier this year, Torreon Group Inc./NEXT10 Inc. began investing in equipment and the rehabilitation of existing mining and processing infrastructure at the Panuco site to restore the copper production facilities and increase the gold production capacity.
By July 2026, the Company had invested approximately $505,000 into equipment, infrastructure and operational improvements. Following completion of that initial investment, gold production commenced in August 2026.
Torreon Group Inc./NEXT10 Inc. is now pleased to report that the second tranche of capital associated with the current expansion program has been deployed. As the additional equipment and infrastructure are integrated into operations, management is targeting initial gold production of approximately 120 ounces per month.
“The important point for us is that the Panuco operation has moved from rehabilitation into production, and we are now investing behind an operating asset,” said John B. Hayden, Chairman and Chief Executive Officer of NEXT10/Torreon Group Inc. “We began by rebuilding the infrastructure and putting the equipment in place. Production followed. Now we are deploying additional capital to increase capacity and establish a larger operating base.”
Hayden continued, “Our approach is straightforward: invest in the asset, establish production, improve the operation and then deploy additional capital where the operating results support it. The Panuco operations demonstrate that progression.”
Copper Production Represents Next Phase
Torreon Group Inc./NEXT10 Inc. is also preparing for additional investment intended to establish copper production at the Panuco facility by the end of 2026, and to approve the exploration drill plan at the Copper Belt site.
The Company intends to utilize existing and planned processing infrastructure at Panuco to support both gold and copper operations as the facility continues to expand.
These activities are intended to create a complementary operating relationship between the two projects: Panuco serves as an expanding processing and production operation while Copper Belt undergoes further exploration and development.
Building the Mining Platform
Management views the current Panuco expansion as the next step in Torreon Group Inc./NEXT10 Inc.'s broader strategy of acquiring and activating hard-asset-backed projects, to develop recurring cash flow.
The Company expects to provide additional updates regarding Panuco gold-production levels in the weeks to come. The company will also provide operational updates on the development of copper-processing capabilities and the Copper Belt exploration program as material milestones are achieved.
About Torreon Group Inc./NEXT10 Inc
Torreon Group Inc./NEXT10 Inc. (OTC: NXTN), through Torreon Group, Inc. and its affiliated businesses, is focused on acquiring, developing and operating businesses and assets with an emphasis on ventures backed by real estate and other hard assets.
The Company's strategy is to identify assets where additional capitalization, operating discipline and active management may improve operations, generate cash flow and create long-term enterprise value.
For additional information, visit www.torreongroupinc.com.
Forward-Looking Statements
This press release contains forward-looking statements, including statements concerning anticipated increases in gold production; the Company's target of approximately 120 ounces of gold production per month; additional investments at Panuco; planned copper production; the transportation and processing of material from Copper Belt; future drilling and exploration; and Torreon Group Inc./NEXT10 Inc 's broader mining and growth strategy.
Forward-looking statements are based on management's current expectations, estimates and assumptions and involve risks and uncertainties that could cause actual results to differ materially. These risks include equipment availability and commissioning, mining and processing performance, recovery rates, geological conditions, availability and quality of feed material, commodity prices, operating costs, financing availability, regulatory matters and general economic and market conditions.
Mining and Technical Information
Unless expressly stated otherwise, information regarding production potential, anticipated throughput, recoveries, mineralization and future mining or processing activities is based on Company and operator information and management estimates.
The Company's current target of approximately 120 ounces of gold production per month is managements objective and not a guarantee of future production. Actual results may vary materially based on equipment installation and commissioning, availability and characteristics of feed material, recovery rates, mine conditions, operating performance, commodity prices, capital availability and other factors.
There can be no assurance that planned investments will result in targeted production levels, that copper production will commence, or that exploration activities will establish economically recoverable mineral resources or reserves.
Forward-looking statements speak only as of the date of this release. Except as required by applicable law, NEXT10/Torreon Group Inc. undertakes no obligation to publicly update or revise any forward-looking statement.
Contact
John B. Hayden
CEO and Chairman
Torreon Group Inc./Next10 Inc.
contact@torreongroup.com
Source: Torreon Group, Inc
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