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CSQ.CN ·

Annual and Quarterly Statements - Filing Extension Update

Corporate Updates

CANAMEX GOLD CORP

Suite 804-750, West Pender St

Vancouver, BC V6C 3T7

Canada

+1 604 833 4278

[email protected]

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CANAMEX GOLD CORP - NEWS RELEASE

Annual and Quarterly Statements – Filing Extension Update

May 22, 2020 - Vancouver, Canada - Canamex Gold Corp. (the “ Company” or “Canamex”) (CSE:

CSQ) announces that, further to its news release dated April 23, 2020, it is providing an update on the

status of its quarterly and annual filings.

Update on December 31, 2019 Audited Filing

The Company is expecting to file its audited fina ncial statements for the year ended December 31,

2019 (the “Annual Filings”) by the extension date of June 15, 2020 pursuant to BC Instrument 51-515

Temporary Exemption from Certain Corporate Finance Requirements (“BCI 51-515”) and continues

to work diligently with its auditors to file the Annual Filings by June 15, 2020.

The Company will be relying on the temporary exemption pursuant to BCI 51-515 in respect to the

following provisions:

 the requirement to file audited financial statemen ts for the year ended December 31, 2019 (the

“Financial Statements”) within 120 days of the Company's financial year end as required by

section 4.2(b) of National Instrument 51-102 (“NI 51-102”);

 the requirement to file management discussion and analysis (the “ MD&A”) for the period

covered by the Financial Statements within 120 days of the Company's financial year end as

required by section 5.1(2) of NI 51-102; and

 the requirement to file certifications of th e Financial Statements (the “Certificates” and

together with the Financial St atements, comprise the Annual Filings) pursuant to section 4.1

of National Instrument 52-109 Certification of Disclosure in Issuer’s Annual and Interim

Filings and Section 4.2(b) [filing deadline for annual financial statements] of NI 51-102.

Update on Q1 Filing

The Company will also be relying on the temporar y exemption pursuant to BCI 51-515 in respect to

the following provisions:

 the requirement to file interim financial statements for the three months ended March 31, 2020

(the “Financial Statements”) within 60 days after the end of the Company's interim period as

required by section 4.4(b) of National Instrument 51-102 Continuous Disclosure (“ NI 51-

102”);

 the requirement to file management discussion and analysis (the “ MD&A”) for the period

covered by the Financial Statements within 60 days after the end of the Company's interim

period as required by section 5.1(2) of NI 51-102; and

 the requirement to file certifications of the Financial Statements (the “ Certificates” and

together with the Financial Statements, the “ Interim Filings ”) pursuant to section 5.1 of

National Instrument 52-109 Certification of Disclosure in Issuer’s Annual and Interim Filings

and section 4.4(b) [being the filing deadline for interim financial statements] of NI 51-102.

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The Company is continuing to work diligently to file the Interim Filings by July 16, 2020.

The Company confirms that there have been no material developments, other than those disclosed

through prior news releases and Form 7 Monthly Progress Reports filed on the Company’s profile

with the Canadian Securities Exchange, since the f iling of its condensed consolidated interim financial

statements for the period ended September 30, 2019.

Additionally, the Company advises that management and other insiders of the Company are subject to

a trading black-out policy as described, in principle, in section 9 of National Policy 11-207, Failure to-

File Cease Trade Orders and Revocations in Multiple Jurisdictions.

About Canamex

Canamex is a public listed company registered in British Columbia, Canada, trading on the Canadian

Securities Exchange (CSE:CSQ), an d is engaged in pre-development of the Bruner gold and silver

project in the prolific gold jurisdiction of Ny e County, Nevada. The region is home to several

producing and past-producing mines along the Wa lker Lane Trend. Canamex completed a positive

Preliminary Economic Assessment (PEA) on the Brune r project in 2016. Based on additional drilling

conducted on the property, the company completed an updated PEA in 2018, which increased the

resources and improved the economics of the proj ect. Canamex is now moving the Bruner project

forward into permitting and development on the strength of this positive updated PEA. Further

information is available at https://www.canamexgold.com/

On Behalf of the Board

David Vincent,

President and CEO

[email protected]

Mike Stark,

Chairman

604.833.4278

[email protected]

The Canadian Securities Exchange accepts no responsibility for the adequacy or accuracy of this

release.

FORWARD LOOKING INFORMATION

This news release includes certain forward-looking statements or information. All statements other

than statements of historical fact included in this release are forward-looking statements that involve

various risks and uncertainties. Forward-looking stat ements in this release include statements with

respect to future services to be provided to the Company, and other future plans, objectives or

expectations of the Company. There can be no a ssurance that such statements will prove to be

accurate and actual results and future events could differ materially from those anticipated in such

statements. Important factors that could cause actual results to differ materially from the Company's

plans or expectations include th e availability of capital and financing required to continue the

Company's operations; uncertainty regarding the performance by other entities of contractual

obligations; general economic, market or business conditions; competition and loss of key employees;

regulatory changes and restrictions; timeliness of government or regulatory approvals; and other

risks detailed herein and from time to time in the filings made by the Company with securities

regulators. In connection with the forward-looking information contained in this release, the Company

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has made numerous assumptions. The Company expressly disclaims any intention or obligation to

update or revise any forward-looking statements whet her as a result of new info rmation, future events

or otherwise, except as otherwise required by applicable securities legislation.