Canex Metals Inc. Completes a Preliminary Site Visit to the Gibson GOLD Silver Project, British Columbia
CANEX METALS INC.
SUITE 800, 808-4TH AVENUE S.W., CALGARY, ALBERTA, T2P 3E8
PH: 403.233.2636 FAX: 403.266.2606
NEWS RELEASE: 17-3 JUNE 26, 2017
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 INC. COMPLETES A PRELIMINARY SITE VISIT TO THE
GIBSON GOLD SILVER PROJECT, BRITISH COLUMBIA
CANEX Metals Inc. (“CANEX” or the “Company”) is pleased to announce the Company completed a
preliminary site visit to the Gibson gold-silver project. The visit focused on verifying logistics and
access for the planned 2017 Phase 1 trenching program.
The program was successful in locating and verifying historic access roads and drill pads. No outcrop
was found at the historic Gibson showing, however, two grab samples of sulfide bearing float
boulders were taken from the zone and assayed. One sample returned 400 grams per tonne (g/t)
silver and 2.2 g/t gold, the other returned 0.43 g/t gold and 96.2 g/t silver. These results confirm the
high-grade nature of the zone.
Six soil samples were taken along a short soil line (40 metres long) across the Gibson zone and
analyzed by hand held X-ray fluorescence (XRF) in the field. The results correlate very well with
historic soil data and demonstrate soil sampling and in the field XRF analyses should be an effective
tool for refining the location of Phase 1 trenches in areas of shallow cover. XRF soil results range
from 90 to 2964 parts per million (ppm) zinc, 28 to 8055 ppm lead, 44 to 3121 ppm arsenic, and
below detection to 85 ppm silver.
The Company has applied for an exploration permit for Gibson and plans to start a $100,000 Phase 1
trenching program once permits have been received. If Phase 1 successfully defines high grade
gold-silver targets, they will be drill tested during Phase 2.
The Gibson Prospect
The Gibson prospect is 887 hectares 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 mesothermal gold-silver mineralization hosted in highly altered volcanic rocks
adjacent to the Hogem Batholith. The zone was discovered and explored by Noranda Exploration
Company from 1989 to 1991. Following soil sampling and induced polarization geophysical surveys
Noranda exposed precious metal mineralization in hand trenches with surface samples returning
12.86 g/t gold and 144.7 g/t silver over 1.5 meters and 5.35 g/t gold and 2136 g/t silver over 1.7
meters. Noranda subsequently 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. No follow up trenching or drilling has been conducted at Gibson since the highly successful
Noranda program and the mineralized zone appears to be about 4.5 metres wide and at least 400
metres long and remains open in all directions.
Page 2 – June 26, 2017
The Noranda hand trenching and drill results are reported in BC Assessment 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.
Other Business
The Company has granted pursuant to its stock option plan, a total of 1,175,000 incentive stock
options to directors, officers, and consultants of the Company. The options are exercisable at a price
of $0.06 per share for five years.
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 personnel being involved in discoveries in Mexico,
Newfoundland, and British Columbia.
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 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.