Canex Completes Option of New GOLD Discovery IN Arizona and Stakes Additional Claims
CANEX METALS INC.
SUITE 815, 808-4TH AVENUE S.W., CALGARY, ALBERTA, T2P 3E8
PH: 403.233.2636 FAX: 403.266.2606
NEWS RELEASE: 19-5 JUNE 13, 2019
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 COMPLETES OPTION OF NEW GOLD DISCOVERY IN ARIZONA
AND STAKES ADDITIONAL CLAIMS
Calgary, Alberta - CANEX Metals Inc. (“CANEX” or the “Company”) is pleased to announce it
has entered into a formal option agreement with a US based prospector to acquire a 100%
interest in the Gold Range Property located in northern Arizona, USA.
The Gold Range Property occurs within a larger district that has seen historic small-scale lode
and placer gold production but limited modern lode gold explorat ion. Earlier this year a
prospector using a hand- held metal detector discovered a quartz vein containing abundant
visible gold concealed under shallow soil cover. From May 30th to June 5th CANEX personnel
staked an d recorded 11 additional lode mining claims covering prospective ground
surrounding the new discovery and conducted preliminary geologic fieldwo rk. Numerous
quartz veins and historic work ings were examined, and 39 rock samples and 50 soil samples
collected. The samples have been submitted for assay with results expected in about 3
weeks.
CANEX is currently preparing a permit application for a trenching program designed to expose
and extend the new gold discovery and test a number of other prospective targets identified
during recent fieldwork . Geophysical surveying and drilling will be included in the permit
application. Additional property details and photographs of the new gold discov ery will be
added to the CANEX website shortly.
Terms of the Option
The Option Agreement gives CANEXCO Inc., a wholly owned subsidiary of CANEX Metals,
the exclusive right, at its election, to acquire a 100% i nterest in the Gold Range Property from
the Vendor by making staged cash payments over 4 years totaling US$90,000 and completing
exploration expenditures of US$80,000. The Vendor w ill retain a 2% net smelter royalty , half
of which can be bought back by CA NEX for US$500,000, and the remaining half can be
bought back for an additional US$1,000,000.
Page 2
June 13, 2019
About CANEX Metals Inc.
CANEX Metals is a Canadian based exploration company focused on acquiring and advancing
high grade gold and silver deposits i n stable mining jurisdictions. Company Management has
a proven track record of exploration success, with key personnel being involved in discoveries
in Mexico, Newfoundland, and British Columbia. CANEX has optioned five British Columbia
exploration projects from Altius Resources Inc. and Altius is a significant s hareholder of t he
Company. CANEX is exploring the Gibson Prospect in Bri tish Columbia where significant
gold-silver discoveries have been made during 2017 and 2018, including drill results of 872 g/t
Ag and 2.7 g/t Au over 0.5m and 11.9 g/t Au and 301 g/t Ag over 1m. Please visit our website
at www.canexmetals.ca for additionnel information.
Dr. Shane Ebert P.G eo., is the Qualified Person f or CANEX Met als and has approved the
technical disclosure contained in this news release.
“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 wor ds such as
“expects”, “projects”, “plans”, “anticipates” and similar expressions, are forward-looking information that represents management of CANEX
Metals Inc. internal projections, expectations or beliefs concerning, among other things, future operating results and various component s
thereof or the econo mic performance of CANEX. The projection s, estimates and beliefs contained in such f orward-looking statem ents
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 per formance or results ex pressed or implied by such f orward-looking statements.
These risks and uncertainties include, among other things, those described in CANEX’s filings with the Canadian securities authorities.
Accordingly, holders of CANE X shares and potential investors are cautioned t hat events or cir cumstances could cause results to differ
materially from those predicted. CANEX disclaims any responsibility to update these forward-looking statements.