Mexican GOLD Corp Announces Exercise of Warrants BY Largest Shareholder, Palisade Global Investments Ltd., Resulting IN $833,250 of Proceeds FOR Drilling

Thunder Bay, Ontario TSX-V: MEX

For Immediate Release November 16, 2017

MEXICAN GOLD CORP ANNOUNCES EXERCISE OF WARRANTS BY

LARGEST SHAREHOLDER, PALISADE GLOBAL INVESTMENTS LTD.,

RESULTING IN $833,250 OF PROCEEDS FOR DRILLING

Mexican Gold Corp. ("Mexican Gold" or the "Company") (TSX-V: MEX / OTCMKTS: SRXLF

/ FRA: 4QW1) announces that Palisade Global Investments Ltd. has exercised 3,333,000 non-

transferable common shares purchase warrants of Mexican Gold Corp. The common shares of

Mexican Gold were issued pursuant to the terms of the warrant certificates issued by the

Company in connection with a financing completed in February of 2017. The warrants were

exercised at a price of $0.25 per share and resulted in the issuance of 3,333,000 common

shares of Mexican Gold for total proceeds of $833,250. No commissions or placement fees are

payable in respect of the exercise of the warrants. Proceeds from the exercise of the warrants

will be used for diamond drilling at Mexican Gold’s Las Minas property and general corporate

purposes.

"We appreciate this continuing strong support by Palisade Global Investments, Mexican Gold’s

largest shareholders," commented Brian Robertson, President and Chief Executive Officer,

Mexican Gold Corp. "This an exciting time for our Company as we continue our drill program

focused on resource expansion of the high – grade zones recently intersected by drilling at the

property.”

“The results of this past week demonstrate the outstanding potential of the Las Minas project

and confirm our thesis in making our initial investment,” stated Sean Zubick, Principal & Co-

Founder, Palisade Global Investments Ltd. “The potential exists for a significant deposit at Las

Minas in terms of both grade and size. Palisade Global will continue to support Mexican Gold

moving forward.”

About Mexican Gold Corp.

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

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

metals deposits in Mexico. Mexican Gold is exploring the Las Minas Project, which is located in

the core of the Las Minas district in the Veracruz State, Mexico. The district is host to one of the

largest under-explored skarn systems known in Mexico and has a strong production history that

dates back to the Aztec era.

For more information, please contact:

Brian Robertson, President & CEO

Phone: 807-474-4270 or 807-251-1816

Fax: 807-474-4272

E-mail: [email protected]

Website: www.mexicangold.ca

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION : This news release includes certain

information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking

information includes, but is not limited to, statements about the estimation of mineral resources, magnitude or quality of mineral

deposits, anticipated advancement of mineral properties or programs, future operations, results of exploration, prospects,

commodity and precious metals prices, future work programs, anticipated financial and operational results, capital expenditures

and objectives and the completion and timing of mineral resource estimates. Forward-looking information is necessarily based

upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks,

uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or

implied by such forward-looking information, including the degree to which mineral resource estimates are reflective of actual

mineral resources and the risks identified in the Company's disclosure documents available at www.sedar.com. 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 information. Accordingly, readers should not place undue reliance on forward-looking information. All

forward-looking information contained in this press release is given as of the date hereof and is based on the opinions and

estimates of management and information available to management as at the date hereof. The Company disclaims any intention

or obligation to update or revise any forward-looking information, whether as a result of new information, future events or

otherwise, except as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture

Exchange) accepts responsibility for the adequacy or accuracy of this release.