Mexican GOLD Achieves Dtc Eligibility IN United States

Thunder Bay, Ont. TSX-V: MEX

For Immediate Release May 23, 2018

MEXICAN GOLD ACHIEVES DTC ELIGIBILITY IN UNITED STATES

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

MEXGF / FRA: 4QW1 is pleased to announce that its common shares are now DTC eligible.

The DTC (Depository Trust Company) is a subsidiary of the Depository Trust and Clearing

Corporation, which was created to improve efficiencies and reduce risks in the clearance and

settlement of securit ies transactions. When DTC provides services as the depository for a

company’s shares, the shares can be traded electronically.

Brian Robertson, President & CEO, commented, “Being DTC eligible builds on our continuing

efforts to improve access to institutional and retail investors. We are confident that DTC eligibility

will significantly enhance liquidity for our US shareholders.

Mexican Gold trades on the OTCQB® Venture Market in the United S tates under the symbol

OTCQB: MEXGF. Investors in the US can find current financial disclosure and Real -Time Level

2 quotes in US currency for Mexican Gold at www.otcmarkets.com.

The Company's common shares also trade on the TSX Venture Exchange under the symbol MEX

as well as the Frankfurt Exchange under the symbol 4QW1.

About OTCQB.

The OTCQB Venture is the premier marketplace for entrepreneurial and development stage U.S.

and international companies that are committed to providing a high-quality trading and information

experience for their US investors. To be eligible, companies must be current in their financial

reporting, pass a minimum bid price test, and undergo an annual company verification and

management certification process. The OTCQB Venture quality standards provide a strong

baseline of transparency, as well as the technology and regulation to improve the information and

trading experience for investors.

About Mexican Gold Corp.

Mexican Gold Cor p. 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 loc ated in

the core of the Las Minas district in the Veracruz State, Mexico.

About Las Minas

The Las Minas Project hosts near-surface gold, silver and copper skarn mineralization and high

grade gold - silver epithermal vein deposits. The project is comprised of six mineral concessions

covering approximately 1,616 hectares (3,995 acres), with several small scale, past -producing

mines and a number of untested targets.

The district is host to a large gold, silver and copper skarn system that has a production history

that extends back to the Aztec era. The Las Minas diorite intrusive measures approximately 10

kilometres in diameter and underlies the Las Minas concessions. The mineralization controls and

association with magnetite appear to be similar to the Guerrero Gold belt, which is the site of the

Los Filos and Morelos gold deposits.

Information Regarding NI-43-101 Initial Mineral Resource Estimate

In 2017, the Company reported an initial mineral resource estimate of 304,000 gold equivalent

ounces (Au Eq ozs) contained within 4,970,000 tonnes grading 1.90 g/t Au Eq (0.92 g/t Au,

0.59% Cu. 4.37 g/t Ag) in a Measured and Indicated category for the El Dorado / Juan Bran and

Santa Cruz zones, with an additional Inferred Resource of 719,000 Au Eq ozs contained within

10,304,000 tonnes grading 2.17 g/t Au Eq.( 1.08 g/t Au, 0.66 % Cu, 3.99 g/t Ag) (reported in the

Company’s news release dated August 1, 2017 and the 43 - 101 report titled “NI 43-101

Technical Report Mineral Resource Estimate Las Minas – Gold - Copper Project”, John T, Boyd

Company, Mining and Geological Consultants, Denver, Colorado, USA, Report No “3830.001“

dated September, 2017, prepared by John J. Read, P. Geo., Q.P. and Sam J. Shoemaker Jr.,

Registered Member S.M.E, Q.P.) The report is available on SEDAR.

The El Dorado / Juan Bran and Santa Cruz zones remain open for expansion and comprise two

of eight known mineralized zones at the Las Minas property.

The technical information in thi s news release has been reviewed and approved by Sonny

Bernales, P. Geo., a registered Professional Geoscientist in the Province of British Columbia and

a qualified person as defined by NI 43-101. Mr. Bernales is responsible for logistics and

supervision of all exploration activity conducted by Mexican Gold on the property.

For more information, please contact:

Brian E. Robertson, P. Eng., President & CEO

Phone: 807-474-4270 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 "forward-looking information" under applicable Canadian securities legislation. Forward-looking information

includes, but is not limited to, statements about the 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 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 t hose

anticipated in such infor mation. 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.