Canex Metals Announces Financing

CANEX METALS INC.

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

PH: 403.233.2636 FAX: 403.266.2606

NEWS RELEASE: 18-5 AUGUST 30, 2018

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

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY

FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.

CANEX METALS ANNOUNCES FINANCING

Calgary, Alberta - CANEX Metals Inc. (“CANEX” or the “Company”) is pleased to announce a proposed

non-brokered private placement of up to 3,000,000 units (“Common Units”) at a price of $0.05 per

Common Unit and up to 2,857,143 flow-through units (“FT Units”) at a price of $0.07 per FT Unit for

gross proceeds of up to $350,000.

Each Common Unit will consist of one common share and one common share purchase warrant. Each

common share purchase warrant will entitle the holder to purchase one common share at a price of

$0.10 per share for a period of two years following closing.

Each FT Unit will consist of one common flow-through share and one-half of one common share

purchase warrant. Each whole common share purchase warrant will entitle the holder to purchase one

common share at a price of $0.10 per share for a period of two years following closing.

The Company is very pleased to announce that Altius Minerals will contribute $100,000 to the financing

and by doing so will increase their current 5% ownership of CANEX.

The Common Units and FT Units will be offered on a non-brokered basis by way of private placement

to accredited investors and any securities issued will be subject to a hold period of four months plus

one day from the date of closing. Finder’s fees may be paid to eligible agents pursuant to the offering.

This financing is subject to TSX Venture Exchange and regulatory approval.

Proceeds of the financing will be used to drill the Company’s high-grade Gibson gold-silver project,

conduct additional exploration at up to 4 of the British Columbia properties optioned from Altius, and for

general working capital.

“Shane Ebert”

Shane Ebert, President/Director

Neither the TSX Venture Exchange 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 beliefs 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 uncertainties 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.