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CANX.V ·

Canex Announces Results of Annual & Special Meeting

Shareholder Meetings

CANEX METALS INC.

SUITE 815, 808-4TH AVENUE S.W., CALGARY, ALBERTA, T2P 3E8

PH: 403.233.2636 FAX: 403.266.2606

NEWS RELEASE: 20-26 DECEMBER 23, 2020

Trading Symbol: TSX Venture-CANX

For Further Information Contact: Shane Ebert at 1.250.964.2699 or

Jean Pierre Jutras at 1.403.233.2636

Web: http://www.canexmetals.ca

CANEX ANNOUNCES RESULTS OF ANNUAL & SPECIAL MEETING

CANEX Metals Inc . (“Canex”) is pleased to report that at its Annual & Special Meeting, held on

December 23, 2020 , Shane Ebert, Jean- Pierre Jutras, Lesley Hayes and Gregory Hanks were re-

elected to the Board of Directors . Shareholders also approved fixing the number of directors at four,

the appointment of BDO Canada LLP as Auditors and ratified Canex’s stock option plan.

Canex is currently planning a second drill program at the Gold Range property in Arizona to follow up

on new discoveries made during 2020 drilling. Details of the program will be announced once they are

finalized.

Please visit our website at www.canexmetals.ca for additionnel information.

“Shane Ebert”

Shane Ebert,

President/Director

Neither the TSX Venture E xchange nor its regulation services provider (as that term is defined in the policies of

the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as

“expects”, “projects”, “plans”, “anticipates” and similar expressions, are forward-looking information that represents management of CANEX

Metals Inc. internal projections, expectations or bel iefs concerning, among other things, future operating results and various components

thereof or the economic performance of CANEX. The projections, estimates and beliefs contained in such forward- looking statements

necessarily involve known and unknown risks and uncertainties, which may cause CANEX’s actual performance and financial results in future

periods to differ materially from any projections of future performance or results expressed or implied by such forward- looking statements.

These risks and unc ertainties include, among other things, those described in CANEX’s filings with the Canadian securities authorities.

Accordingly, holders of CANEX shares and potential investors are cautioned that events or circumstances could cause results to differ

materially from those predicted. CANEX disclaims any responsibility to update these forward-looking statements.