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PURO.V ·

Mexican GOLD Corp. Withdraws Application to Extend Warrants

Share Capital & Compensation

Thunder Bay, Ont. TSX-V: MEX

For Immediate Release February 20, 2019

MEXICAN GOLD CORP. WITHDRAWS APPLICATION TO EXTEND

WARRANTS

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR

DISSEMINATION IN THE UNITED STATES

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

Gold", “MEX” or “the Company") announces that further to its press release of February 15,

2019, it has withdrawn its application to the TSX Venture Exchange to extend the expiry dat e of

outstanding warrants exercisable to purchase an aggregate of 8,423,068 common shares of

Mexican Gold originally issued in connection with the non- brokered private placement (the

“Private Placement”) of 12,333,333 units (the “Units”), with each Unit being comprised of one

common share of the Company and one transferable common share purchase warrant. The Private

Placement was first announced on February 13, 2017. Mexican Gold had requested that the TSX

Venture Exchange extend the expiry date of the warrants to September 3, 2019.

The warrants will continue to be exercisable at $0.25 until the original expiry date of March 3,

2019.

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 and copper deposits in North America. Mexican Gold is exploring the Las Minas Project,

which is located in the core of the Las Minas mining district in Veracruz State, Mexico, and is host

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

For more information, please contact:

Carl Hering, PhD Geology, CEO

Brian E. Robertson, P. Eng., President

Phone: 303-895-5241 or 807-251-1816

Fax: 807-474-4272

E-mail: [email protected]

Website at www.mexicangold.ca

CAUTIONARY STATEMENT REGARDING FORWARD -LOOKING INFORMATION: This news

release includes certain information that may constitute "forw ard-looking information" under applicable Canadian

securities legislation. “Forward -looking information” can often, but not always, be identified by the use of words

such as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will” , or “plan”. These

statements are based on information currently available to the Company, and the Company provides no assurance

that actual results will meet management’s expectations. Forward-looking information includes, but is not limited to,

statements about the closing of the Private Placement, the future exploration results relating to the Las Minas project,

and exploration plans for the Las Minas project and the exploration potential of the Las Minas project. Forward-

looking information is necessari ly 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 risks identified in the Company's disclosure documents. 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 upon 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 the policies of the TSX

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