Canamex drills 61 m of 1.287 g/t AuEq at Bruner

Aug 22, 2017

2017-08-22 12:11 ET – News Release

Mr. Gregory Hahn reports

CANAMEX INTERSECTS ADDITIONAL GOLD ZONES IN DRILLING OUTSIDE OF CURRENT RESOURCE AREAS AT BRUNER PROJECT, NYE COUNTY, NEVADA

Canamex Resources Corp. has provided assay results from the summer drilling campaign at the Bruner gold project in Nye county, Nevada.

Penelas resource area

All eight holes drilled to test open extensions of the gold zones between two preliminary sub-pits of the current Penelas resource area intersected gold across mineable widths above the cut-off grade referenced in the Company’s PEA reported in May 2016. The best intercept is in hole B-1708 and contains 200 feet (61 metres) from 615-815 feet (187.5-248.5 metres) of 1.224 gpt Au and 8.38 gpt Ag (1.287 gpt Au (eq) using $1280 Au price and $17 Ag price). All the intercepts are presented in the table below. The average total intercept of all eight holes drilled is 221 feet (67.4 metres) grading 0.679 gpt Au and 4.32 gpt Ag (0.736 gpt Au(eq)).

The eight holes drilled at the Penelas resource area cover an area of approximately 200 metres by 150 metres located mostly in the data gap between the two preliminary sub-pits as outlined in the Company’s PEA. This area was identified as having a high probability of containing gold that could be added to the resource inventory with additional drilling. The success of this drilling program should allow for expansion of the resource at Penelas when resources are re-calculated next.

HRA Resource Area

Seven of the eight holes drilled at the northern spire located immediately north of the northern limit of the HRA resource area intersected gold over mineable widths and above the cut-off grade used in the Company’s PEA released in May 2016. The best intercept at the northern spire is in hole B-1709 and is 55 feet (16.8 metres) grading 3.022 gpt Au and 124.5 gpt Ag (4.676 gpt Au (eq)) between 420-475 feet (128-144.8 metres). Several of the holes intersected 1-3 gpt Au material in the first twenty feet of the holes, suggesting the drill was practically sitting on top of the gold zone and requiring we return, step back from the location where the drill was positioned, and re-drill these areas to try to intersect these shallow gold zones deeper in the section. All of the holes at the northern spire contained significantly higher silver grades than exists in previous holes completed in the historic resource area. Newmont never assayed for silver, so the recognition of higher silver grades in the north of the HRA resource area suggest we revisit the interpolated silver grades where we were lacking in silver values from historic drilling. Only one hole from this summer’s program failed to intersect significant gold or silver. Drilling at the northern spire covered an area of approximately 100 metres squared. The average total intercept from the seven holes which intersected gold is 36 feet (11 metres) grading 0.956 gpt Au and 34.01 gpt Ag (1.408 gpt Au(eq)). Additional drilling will be required at the northern spire to follow-up on the intercepts in this summer’s drilling program in order to significantly add to the resource base at the HRA resource area.

The true thickness of the 2017 intercepts is currently undetermined, pending a thorough review of the geology and the relationship between lithologies, structure, and the intercepts reported herein.

The results of this summer’s drilling program clearly demonstrate the ability of the company to continue to intersect significant gold outside of the current resource base, which should allow for expansion of the resource with continued drilling and revisiting the resource calculations at the appropriate time.

Greg Hahn, President and COO and a Certified Professional Geologist (#7122) is the Qualified Person under NI43-101 responsible for preparing and reviewing the data contained in this press release.

QA/QC Statement

Drill hole samples are stored on site and are retrieved by an independent contractor and transported in their custody to the ALS Minerals laboratory in Reno/Sparks, Nevada, where they were dried, crushed, pulverized, and analyzed by ALS Minerals laboratory in Vancouver, BC for gold and silver. Duplicates, blanks, and standards were inserted at regular intervals for QA/QC purposes. All drill samples are prepared by crushing the entire sample to 70% passing 2mm size, splitting out 250 grams of sample and pulverizing this split to 85% passing -75 microns in size. From the 250 gram pulp 30 grams is split out for fusion and fire assay with an AA finish. If results return 3 g/tonne Au or greater, or 100 g/tonne Ag or greater, the lab performs a 30-gram fire assay with a gravimetric finish from the same pulp. In addition, a second sample is prepared by crushing the sample down to 90% passing 10 mesh and proceeding to a rotary split of 1 kg that is pulverized to 85% passing 200 mesh. From the 1 kilogram pulp 30 grams is split out for a second fire assay with gravimetric finish.

New Corporate Address

Please be advised that the Company recently moved its corporate office to the following address: #804 – 750 West Pender Street, Vancouver, BC, V6C 2T7.

We seek Safe Harbor.

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