Canex Metals Comments ON the Geology and Style of Mineralization Intersected IN 2018 Drilling at Gibson

CANEX METALS INC.

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

PH: 403.233.2636 FAX: 403.266.2606

NEWS RELEASE: 18-10 NOVEMBER 13, 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

CANEX METALS COMMENTS ON THE GEOLOGY AND STYLE OF MINERALIZATION

INTERSECTED IN 2018 DRILLING AT GIBSON

Calgary, Alberta - CANEX Metals Inc. (“CANEX” or the “Company”) is pleased to provide comments on

the geology and style of mineralization at the Company’s Gibson Gold -Silver Project following

observations made during the recent 2018 drilling program.

The Gibson Gold-Silver Property is located in north central British Columbia, 50 kilometres west of the

Mount Milligan Cu-Au Mine and 40 kilometres southeast of the Kwanika Cu -Au deposit. The property

sits within a northwest trending belt of alkalic porphyry deposits and related prospects located within

the prolific Quesnellia Terrain. Gibson contains base -metal rich quartz veins and breccias hosted in

hornfelsed sedimentary and volcanic rocks of the Lower Jurassic Takla Group. The minera lization is

located within about 500 metres of the contact of the Early Jurassic Hogem Batholith. CANEX Metals

has the right to earn a 100% interest in the property from Altius Resources Inc. by issuing shares and

spending $500,000 on exploration.

In October 2018 the Company completed 10 drill holes at Gibson and excavated two trenches. Assay

results for this program have not yet been received and are expected in 5 to 6 weeks. The drilling

successfully intersected zones of quartz -sulfide veining consist ent with those described in historic

drilling from the zone.

Observations from drill core indicate quartz -sulfide veins and breccias occur along fault zone s which

locally contain altered and mineralized rhyolite dikes . Larger veins contain pronounced halos of clay

and sericite alteration, grading outward into an assemblage of chlorite, epidote, calcite , and pyrite.

Veins range from less than 0.2 metres to over 2.5 metres wide and contain quartz and calcite with

variable amounts of sulfides consisting mainly of pyrite, sphalerite, and galena, with minor chalcopyrite

and arsenopyrite. Sulfide content in veins ranges from trace amounts up to 50% or more. Drilling and

trenching show mineralized zones occur along both flat and steeply dipping fault structures, locally with

multiple episodes of veining, brecciation, and fault movement. Some holes hit up to 5 separate quartz-

sulfide veins showing multiple veins within the main Gibson zone.

Photographs from the 2018 Gibson exploration program are available here and in the photo gallery on

the Company’s website at www.canexmetals.ca. The photographs show the new zone discovered in

Trench 10, the drill rig used for the program, and examples of drill core showing quartz -sulfide veins

and breccias along with vein textures. Many of the veins contain coarse banding of sulfides and

quartz, including crustiform banding and c ockade textures. The banded textures, the association with

quartz-carbonate-sulfide veins and breccias locally with open space fillings , and the pronounced clay -

sericite alteration halos grading outward into propyllitic assemblages are all features consistent with an

epithermal style system. Analogies for this style of mineralization in British Columbia include the

Bruckjack Mine, the Lawyers Mine, and the Silbak Premier Mine.

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November 13, 2018

The Gibson Prospect

The Gibson prospect is 887 he ctares in size and located in central British Columbia, approximately 95

kilometres northwest of Fort St. James. The area is accessible via a network of all -weather logging

roads. Gibson contains epithermal gold-silver base metal mineralization hosted in highly altered

sedimentary and volcanic rocks adjacent to the Hogem Batholith. The zone was discovered and

explored by Noranda Exploration Company from 1989 to 1991. Noranda drilled 9 holes with 8 of the 9

holes intersecting significant gold and silver mineralization. The best drill intercept returned 4.26

metres grading 6.77 g/t gold and 1828 g/t silver. Prior to the 2017 trenching program by CANEX n o

follow up trenching or drilling has been conducted at Gibson since the highly successful Noranda

program. Known mineralized zones at Gibson are located within a strong soil anomaly 850 metres

long by 500 metres wide, and only a small portion of that anomaly has been explored by trenching or

drilling.

The Noranda drill results are reported in BC Assessme nt report 21762 for Noranda Exploration

Company by Stewart and Walker (1991). This drilling was done prior to NI 43 -101 and should be

considered historic in nature. The results have not been verified by CANEX and should not be relied

upon.

About CANEX Metals Inc.

CANEX Metals is a Canadian based exploration company focused on acquiring and advancing high

grade gold and silver deposits in stable mining jurisdictions. Company Management has a proven

track record of exploration success, with key personne l 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 shareholder of the Company. Please visit our

website at www.canexmetals.ca for additionnel information.

Dr. Shane Ebert P.Geo. , is the Qualified Person for CANEX Metals 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 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 eve nts or circumstances could cause results to differ

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