Canex Provides Exploration Update ON the GOLD Range Property, Arizona - Stakes 46 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: 19-15 NOVEMBER 18, 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 PROVIDES EXPLORATION UPDATE ON THE GOLD RANGE PROPERTY,
ARIZONA - STAKES 46 ADDITIONAL CLAIMS
Calgary, Alberta - CANEX Metals Inc. (“CANEX” or the “Company”) is pleased to provide an update on
the exploration program at the Company’s Gold Range Property in Arizona.
A trenching and surface exploration program commenced at Gold Range on October 14th. A total of 8
trenches were excavated with 6 trenches targeting mineralized zones along the Adit Shear Zone and 2
trenches dug at the Discovery Zone. All of the trenches successfully exposed bedrock and have been
mapped and sampled. A total of 182 rock samples were collected during the program and have been
sent for assay with results expected in about 4 weeks. Photographs of the October 2019 trenching
program are available here.
As part of the program the Company completed considerable geologic mapping and target evaluation
within the Gold Range Property and in the surrounding areas. Forty-six additional claims have been
staked to cover new zones of mineralization that have been disc overed during prospecting as well as
numerous historical workings. The Gold Range Property now consist s of 72 lode mining claims (552
Ha) staked on land administered by the Bureau of Land Management. Photographs of historic workings
and new mineralized zones added to the claim block are available here. Visible gold has been
observed in several quartz-sulfide veins within the new areas recently staked. A new presentation on
the Gold Range Property is available here or on our website at www.canexmetals.ca.
The first phase of trenching and prospecting is complete. Reconnaissance soil grids are being planned
to further evaluate new targets, and the Company is looking to commission a property wide airborne
magnetic survey to help evaluate the structural and geological setting and target additional zones for
follow up work, additional trenching, and drilling.
About the Gold Range Property
The Gold Range Property is located in Northern Arizona within an area that has seen historic lode and
placer gold productio n but limited systematic 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 on the property. Fieldwork by CANEX has identified multiple gold
exploration targets, including the Adit Shear Zone which has been traced for 1 km along strike and has
returned chip sample results of 8.47 g/t gold over 5.6 metres, including 28.1 g/t gold over 1 metre.
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November 18, 2019
Dr. Shane Ebert P.G eo., is the Qualified Person f or 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 r egulation services provider (as that term is defined in the polici es 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 forwar d-looking information that represents management of CANEX
Metals Inc. internal projections, expectations or beliefs conc erning, among other things, future operating results and various c omponents
thereof or the economic 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 risk s and uncertainties include, among ot her thing s, those described in CANEX’s filings with the Canadian securi ties authorities.
Accordingly, holders of CANE X shares and potential i nvestors are c autioned t hat events or cir cumstances could caus e result s to dif fer
materially from those predicted. CANEX disclaims any responsibility to update these forward-looking statements.