Canex Metals Inc.

Canex Metals Inc. is exploring the Gold Range project in Arizona, located in a historic mining district. The property contains multiple zones of oxide gold mineralization that remain open along strike and at depth. Recent drilling has returned encouraging bulk tonnage intercepts as well as high grade intervals. Metallurgical testing indicates excellent cyanide soluble gold recoveries in the 97% range.

The Excelsior zone has been drill defined over a 400m strike length and contains near surface oxide gold mineralization. Parallel mineralized structures provide potential to significantly expand the zone. The Eldorado zone contains shallow dipping zones over a large 300m by 500m area. New discoveries were recently made at the WestGold and Shaft zones, highlighting additional near surface potential.

The mineralized zones occur along a 4km trend that corresponds to a regional shear zone. This setting is analogous to the nearby La Herradura mine which contains over 6 million ounces of gold reserves. Surface rock samples have defined widespread gold mineralization along multiple target horizons across the Gold Range property.

The company has an experienced management team that has made previous discoveries in Mexico and Canada. The next steps include following up on positive drill results, evaluating the new WestGold discovery, and continuing to advance and drill test targets across the prospective trends.