Mexican Gold Announces Grant of Options

Thunder Bay, Ontario TSX-V: MEX For Immediate Release May 16, 2018

MEXICAN GOLD ANNOUNCES GRANT OF OPTIONS

May 16, 2018 – Mexican Gold Corp. ("Mexican Gold" or the "Company") (TSX-V: MEX/ OTCQB: MEXGF / FRA: 4QW1) announces that it has granted 100,000 incentive stock options to a director of the Company pursuant to Mexican Gold’s Stock Option Plan. The options are exercisable at a price of $0.37 for a period of ten years. The options vest as to one-third after twelve, eighteen and twentyfour months respectively from the effective date of the grant. The grant of options is subject to acceptance for filing by the Exchange.

For more information, please contact:

Brian Robertson, President & CEO Phone: 807-474-4270 or 807-251-1816 Fax: 807-474-4272

E-mail: [email protected] Website at www.mexicangold.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.