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Mexican Gold Announces Board Resignation

Management Changes

Thunder Bay, Ontario TSX-V: MEX For Immediate Release May 12, 2017

MEXICAN GOLD ANNOUNCES BOARD RESIGNATION

MEXICAN GOLD CORP. (the “Company” or “Mexican Gold”) (TSX-V: MEX) announces that Mr. Earl Terris has resigned as a director of the Company for personal reasons, effective May 12, 2017.

Mr. Brian Robertson, Chairman, President and CEO, stated, “On behalf of the board and management team, I would like to thank Earl for his years of service and significant contributions to advance the Company. All of us sincerely wish Earl the very best in his future endeavors.”

About Mexican Gold Corp

Mexican Gold Corp. is a Canadian based mineral exploration company committed to building long-term value through ongoing discoveries and strategic acquisitions of prospective precious metals deposits in Mexico. Mexican Gold is exploring the Las Minas Project, which is located in the core of the Las Minas district in the Veracruz State, Mexico. The district is host to one of the largest under-explored skarn systems known in Mexico and has a strong production history that dates back to the Aztec era.

For more information, please contact:

Brian Robertson, Chairman, President & CEO

Phone: 807-474-4270 or 807-251-1816

Fax: 807-474-4272

E-mail: [email protected]

Website at: www.mexicangold.ca

CAUTIONARY STATEMENT REGARDING FORWARD‐LOOKING INFORMATION: This news release includes certain information that  may  constitute  "forward‐looking  information"  under  applicable  Canadian  securities  legislation.  Forward‐looking information  includes,  but  is  not  limited  to,  statements  about  the  magnitude  or  quality  of  mineral  deposits,  anticipated advancement of mineral properties or programs, future operations, results of exploration, prospects, commodity and precious metals prices, future work programs, anticipated financial and operational results, capital expenditures and objectives and the completion and timing of mineral resource estimates. Forward‐looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors, which may cause the actual results and future events to differ materially from those expressed or implied by such  forward‐looking  information,  including  the  risks  identified  in  the  Company's  disclosure  documents  available  at www.sedar.com.  There  can  be no  assurance  that  such  information  will  prove to  be  accurate,  as  actual  results  and future events  could  differ  materially  from  those  anticipated  in  such  information.  Accordingly,  readers  should  not  place  undue reliance on forward‐looking information. All forward‐looking information contained in this press release is given as of the date hereof and is based on the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward‐looking information, whether as a result of new information, future events or otherwise, except as required by law.

Neither  the  TSX  Venture  Exchange  nor  its  regulation  services  provider  (as  that  term  is  defined  in  the  policies  of  the  TSX Venture Exchange) have reviewed or accepts responsibility for the accuracy or adequacy of this release.