Canamex Gold acquires Silverton historical data

Dec 9, 2017

2017-12-08 17:41 ET – News Release

Mr. David Vincent reports

ANNOUNCES ACQUISITION OF HISTORICAL DATA ON SILVERTON GOLD PROPERTY, OPTIONS GRANT AND RESIGNATION OF A DIRECTOR

Canamex Gold Corp. has purchased and secured all of the historical exploration data generated since the early 1980s on the Silverton gold property in Nevada.

Silverton gold property exploration data

The historical exploration data include rock geochemical data, drill hole logs and assay certificates, geologic and geochemical maps, and RC (reverse circulation) drill cutting samples from the majority of the 65 holes drilled previously on the property. These data will allow the company to refine its exploration model for testing gold in silicified and dolomitized carbonates on the property, which remain largely untested to date. Field examination of the main western exploration target indicates the target is over 2,000 feet long by 500 feet wide, as defined by silicified and brecciated dolomite and gold in surface rock samples, and is exposed across a thickness of about 200 feet in cliff faces below the top of the ridge. No drill holes penetrate this target area, but historic holes drilled peripheral to it demonstrate the presence of gold in the subsurface adjacent to the target area. This is only one of several targets in silicified and dolomitized limestone that were never tested with drill holes previously.

Bruner PEA (preliminary economic assessment) update

The updated PEA on the Bruner gold project located in Nye county in Nevada is nearing completion. The company anticipates being able to announce the results of the updated resources and PEA in the coming weeks, with the National Instrument 43-101 technical report to follow within 45 days following its announcement.

Bruner water well

The company has engaged Harris Exploration Drilling to drill a water well on the access road into the Bruner gold property, where the company has obtained a water right for up to 350 gallons per minute of water for drilling fluid and future mineral processing. Harris has started moving equipment to the site and drilling is anticipated to begin next week. The Nevada Division of Water Resources as extended the water right application through December, 2018, to allow for completion of this well.

Other matters

The company has granted incentive stock options to purchase a total of 60,000 common shares at an exercise price of 25 cents per share based on last closing price for a period of five years to a consultant in accordance with the provisions of its stock option plan.

The company also announces the resignation of Dean McDonald from the board of directors, effective immediately. Mr. McDonald has served as a director of the company since 2013, and the company thanks him for his dedicated service and wishes him well in the future.

About Canamex Gold Corp.

Canamex Gold is engaged in fast-tracking toward development of the Bruner gold project in the prolific gold jurisdiction of Nye county in Nevada.

The region is home to several producing and past-producing mines along the Walker Lane trend. Canamex completed a positive PEA on the Bruner gold project in April, 2016. Based on additional drilling conducted on the property, the company has requested a new PEA and resource estimate, expected to be completed before the end of 2017.

Greg Hahn (CPG No. 7122), president and chief operating officer of the company, is the qualified person who has reviewed and approved all technical disclosures in this release.

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