Auxico Resources plans exploration at Metaloro

Mar 9, 2018

2018-03-07 08:35 ET – News Release

Mr. Mark Billings reports

AUXICO ANNOUNCES GOLD / COBALT DISCOVERY ON THE METALORO PROPERTY IN COLOMBIA

Auxico Resources Canada Inc.’s initial XRF spectrometer results have yielded up to 10.75 grams per tonne of gold and 0.27 per cent of cobalt in an exhalative shale unit. The analysis was derived from a float sample very close to the source upstream.

Auxico’s qualified person and independent consulting geologist Joel Scodnick personally visited the Metaloro property and selected all of the samples. An extensive fault zone of semi-massive sulphides to massive sulphides measuring at least 200 metres wide was identified on the property, from which the 10.75-gram-per-tonne-gold and 0.27-per-cent-cobalt sample was taken. The 200-metre-wide mineralized zone may extend over a strike length of two kilometres or more according to the topographical expression within the property boundaries. Several samples were brought into the SGS laboratory in Medellin and the results are expected shortly.

Auxico’s management is very excited about this new discovery given the fact that several of the samples selected carry significant amounts of sulphides, as well as massive sulphide lenses within the exhalative shale sequence.

An exploration campaign is being planned right now and will commence shortly.

Auxico acquired the property directly by claiming.

Qualified person

This news release was reviewed and approved by Joel Scodnick, PGeo, an independent consultant to Auxico, in his capacity as a qualified person, as defined by National Instrument 43-101.

About Auxico Resources Canada Inc.

Auxico Resources Canada is a Canadian company that was founded in 2014 and is based in Montreal. Auxico is engaged in the acquisition, exploration and development of mineral properties in Mexico. The company has a 100-per-cent interest in the Zamora silver-gold property in Sinaloa, Mexico. Auxico will continue to identify and potentially acquire additional property interests and conduct exploration and evaluation of these properties to assess their potential.

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