Any Failure to Comply with This Restriction May Constitute a Violation of U.s. Securities Laws. Mexican GOLD Announces Stock Option Grant, Resignations and Appointment

T

hunder Bay, Ontario TSX-V: MEX

For Immediate Release July 17, 2019

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

LAWS.

MEXICAN GOLD ANNOUNCES STOCK OPTION GRANT, RESIGNATIONS AND APPOINTMENT

MEXICAN GOLD CORP. (TSX-V: MEX; OTCQB: MEXGF; FRA: 4QW1) ("Mexican Gold" or the "Company")

announced today that pursuant to the Company’s stock optio n plan, and subject to the approval of the

TSX Venture Exchange, the Company has granted 4,150,0000 stock options to Directors, Officers and

Consultants of the Company at an exercise price of $0.105 per share, expiring July 17, 2024.

The C ompany is als o pl eased to announce the appointment of Jay Sujir to the Company’s board of

directors.

The Company also announces the resignation of Carl Hering as COO and a director of the Company, and

the resignation of Gord on Glenn as a director of the Company. The Com pany would like to thank Mr.

Hering and Mr. Glenn for their service to the Company and wish them both well in their future

endeavors.

About Mexican Gold Corp.

Mexican Gold Corp. is a Canadian based mineral exploration and development company committed to

building long-term value through ongoing discoveries and strategic acquisitions of prospective precious

metals and copper projects in the Americas. Mexican Gold is exploring the Las Minas Project, which is

located in the core of the Las Minas mining distr ict in Veracruz State, Mexico, and is host to one of the

newest, under-explored skarn systems known in Mexico.

For more information, please contact:

Philip O’Neill – CEO, President, and Director

Phone: 403-614-2552

E-mail: [email protected]

Website at www.mexicangold.ca

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.

All statements in this pre ss release, other than statements of historica l fact, are "forward -looking

information" with respect to Mexican Gold within the meaning of applicable securities laws, and with

respect to the option grants , resignations and appointment. Mexican Gold provide s forward -looking

statements for the purpose of conveying information about current expectations and plans relating to

the future and readers are cautioned that such statements may not be appropriate for other purposes.

By its nature, this information is s ubject to inherent risks and uncertainties that may be general or

specific and which give rise to the possibility that expectations, forecasts, predictions, projections or

conclusions will not prove to be accurate, that assumptions may not be correct and that objectives,

strategic goals and priorities will not be achieved. These risks and uncertainties include but are not

limited to exploration findings, results and recommendations, as well as those risks and uncertainties

identified and reported in Mexican G old’s public filings under Mexican Gold’s SEDAR profile a t

www.sedar.com. Although Mexican Gold has attempted to identify important factors that could cause

actual actions, events or results to differ materially from those described in forward-looking information,

there may be other factors that cause actions, events or results not to be as anticipated, estimated or

intended. There can be no ass urance that such information will prove to be accurate a s actual results

and future events could differ materially from those anticipated in such statements. Mexican Gold

disclaims any intention or obligation to update or revise any forward -looking information, whether as a

result of new information, future events or otherwise unless required by law.

UNITED STATES ADVISORY. The securities referred to herein have not been and will not be registered

under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), have been offered

and sold outside the United States to eligible investors pursuant to Regulation S promulgated under the

U.S. Securities Act, and may not be offered, sold, or resold in the United States or to, or for the account

of or benefit of, a U.S. Person (as such term is defined in Regulation S under the United States Securities

Act) unless the securities are registered under the U.S. Securities Act, or an exemption from the

registration requirements of the U.S. Securities Act is available. Hedging transactions involving the

securities must not be conducted unless in accordance with the U.S. Securities Act. This press release

shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be

any sale of securities in the state in the United States in which such offer, solicitation or sale would be

unlawful.