Mexican GOLD Announces Favourable Resolution of Claims Dispute

Vancouver, BC TSX-V: MEX

For Immediate Release December 15, 2021

MEXICAN GOLD ANNOUNCES FAVOURABLE RESOLUTION OF CLAIMS DISPUTE

Mexican Gold Mining Corp. (the “Company” or “Mexican Gold") (TSXV: MEX, OTCQB: MEXGF)

is pleased to announce the favourable resolution of the claims dispute concerning certain lands

that overlap a portion of the Company’s Pepe mineral concessions at its Las Minas Project in

Mexico.

A dispute was filed over seven years ago concerning the claim boundaries of the 1,000-hectare

Pepe property, upon which subsequent prospectors had staked a 220-hectare overlapping land

position (the “Santa Fe Claims ”) which coincided with the location of the Company’s National

Instrument 43-101 (“NI 43-101”) compliant resource.

The General Director of Mines ( “GDM”) in Mexico has ruled in favo ur of Mexican Gold, thereby

nullifying the portion of the overlapping Santa Fe Claims and reducing it such that it is positioned

outside of the Company’s mineral claim boundaries as well as the NI 43-101 resource base. (See

Figure 1 below.)

Figure 1: Las Minas Project – Claims Map

Las Minas Project

Mexican Gold, through its wholly owned subsidiary, Roca Verde Exploracion de Mexico, S.A. de

C.V, owns a 100% interest in the Las Minas Project in the Las Minas district in the State of

Veracruz, Mexico. The project is comprised of six mineral concessions consisting of the Pepe,

Pepe Tres, San Jose, Pueblo Nuevo, La Luz I and San Valentin mineral concessions.

About Mexican Gold Mining Corp.

Mexican Gold 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 and advancing

the Las Minas Project, which is located in the core of the Las Minas mining district in Veracruz

State, Mexico, and host to one of the newest, under-explored skarn systems known in Mexico.

For more information, please contact:

Jack Campbell – CEO, President, and Director

E-mail: [email protected]

Website: 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 press release, other than statements of historical fact, are "forward -looking

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

provides 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 subject to inherent risks and uncertainties that may be

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

or c onclusions 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 market conditions , exploration findings, re sults and recommendations, as well as those risks and

uncertainties identified and reported in Mexican Gold’s public filings under Mexican Gold’s SEDAR profile

at www.sedar.com. Although Mexican Gold has attempted to i dentify 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 assurance that such information will prove to be accurate as 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.