New Risk • Jan 04
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 36% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 5.9% per year over the past 5 years. Shareholders have been substantially diluted in the past year (36% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (18% average weekly change). Market cap is less than US$100m (CA$38.4m market cap, or US$28.0m). Recent Insider Transactions • Dec 24
Independent Director recently bought CA$75k worth of stock On the 23rd of December, Blair Schultz bought around 500k shares on-market at roughly CA$0.15 per share. This transaction amounted to 8.8% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought CA$80k more in shares than they have sold in the last 12 months. Duyuru • Dec 24
CANEX Metals Inc. announced that it has received CAD 3 million in funding On December 23, 2025, CANEX Metals Inc. closed the transaction. The company issued 20,000,000 common shares at a price of CAD 0.15 for gross proceeds of CAD 3,000,000. The transaction included participation from Eric Fier as a lead investor and is now the largest shareholder and is an insider of the Company with ownership of 10% and included participation from Strategic investor Michael Gentile. Certain insiders purchased a total of 670,147 Common Shares in connection with the Financing. The Financing is subject to final acceptance of the TSX Venture Exchange. New Risk • Dec 22
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$4.51m (US$3.28m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 5.9% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$4.51m market cap, or US$3.28m). Minor Risk Share price has been volatile over the past 3 months (17% average weekly change). Duyuru • Dec 10
CANEX Metals Inc. announced that it expects to receive CAD 3 million in funding CANEX Metals Inc. announced a non-brokered Financing of up to 20,000,000 Common Shares at a price of CAD 0.15 per Common Share for gross proceeds of up to CAD 3,000,000 on December 10, 2025. The transaction includes participation from N. Eric Fier. The shares will be offered on a non-brokered basis by way of private placement to accredited investors and any securities issued will be subject to a hold period of four months plus one day from the date of closing. The Financing is subject to TSX Venture Exchange approval. In connection with the Offering, finder’s fees might be paid to certain eligible arm’s-length finders. Duyuru • Sep 02
CANEX Metals Inc., Annual General Meeting, Oct 30, 2025 CANEX Metals Inc., Annual General Meeting, Oct 30, 2025. New Risk • Jun 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 28% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (25% average weekly change). Earnings have declined by 8.0% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$10.3m market cap, or US$7.51m). Minor Risk Shareholders have been diluted in the past year (28% increase in shares outstanding). Duyuru • Jun 27
CANEX Metals Inc. announced that it has received CAD 1.3 million in funding On June 26, 2025, CANEX Metals Inc. closed the transaction. The company issued 23,636,364 common shares at an issue price of CAD 0.055 per common share for gross proceeds of CAD 1,300,000.02. Certain insiders purchased a total of 1,139,054 Common Shares in connection with the Private Placement. The Common Shares were offered on a non-brokered basis by way of private placement to accredited investors and no commissions were paid to investment dealers in connection with the Private Placement. The Private Placement is subject to final acceptance of the TSX Venture Exchange. The company raised CAD 1,297,623.4931 pursuant to Regulation D in the transaction from 22 investors. Board Change • Jun 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. Independent Director Blair Schultz was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Mar 02
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$464k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$464k free cash flow). Share price has been highly volatile over the past 3 months (23% average weekly change). Earnings have declined by 11% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$4.90m market cap, or US$3.39m). New Risk • Dec 06
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 7.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (29% average weekly change). Earnings have declined by 23% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$4.28m market cap, or US$3.05m). Minor Risk Shareholders have been diluted in the past year (7.2% increase in shares outstanding). Duyuru • Nov 26
CANEX Metals Inc. announced that it has received CAD 0.437002 million in funding On November 25, 2024. CANEX Metals Inc. closed the transaction. Company issued 555,555 Common Shares and 416,700 FT Shares in the final tranche. Duyuru • Oct 18
CANEX Metals Inc. announced that it expects to receive CAD 0.3 million in funding CANEX Metals Inc. announced a non-brokered private placement that it will issue up to 777,778 common shares at an issue price of CAD 0.045 per share for the gross proceeds of CAD 35,000 nd up to 4,416,667 flow-through common shares at an issue price of CAD 0.06 per share for the gross proceeds of CAD 265,000 for the aggregate gross proceeds of up to CAD 300,000 on October 17, 2024. Any securities issued will be subject to a hold period of four months plus one day from the date of closing. This financing is subject to TSX Venture Exchange and regulatory approval. Duyuru • Sep 24
CANEX Metals Inc. Presents Drill Data Compilation Results from the Louise Cu-Au Porphyry Project in British Columbia CANEX Metals Inc. presented drill data compilation results from the Louise Cu-Au Porphyry project in British Columbia. Louise is located approximately 35 kilometres west of Smithers and has excellent road access with significant logging road infrastructure through the area. Historic drilling has defined a near surface mineralized zone 1000 metres long by up to 400 metres wide, extending to about 300 metres depth. Strong copper and gold grades occur in the system highlighted by hole LL04-03 which returned an interval of 158 metres grading 0.41% copper and 0.40 g/t gold starting at 53.5 metres downhole. A drill location map with copper and gold grades displayed along drill holes. Cross sections through the deposit in roughly north-south and east-west orientations. The data show a strong and continuously mineralized zone that extends from surface to around 300 metres depth. The mineralized zone consists of volcanic and sedimentary rock hosted mineralization along with mineralized intrusive dikes. A central controlling porphyry intrusion has not been identified and remains a key exploration target at Louise. A flat dipping fault truncates mineralization at depth in multiple holes and a better understanding of the structural setting will be important for district scale targeting. The high-quality historic data for Louise provides an excellent basis for understanding the known zone of mineralization and planning low-cost meaningful exploration that could lead to a new discovery. Drill data review has strengthened the Company's thesis that there is excellent discovery potential laterally and vertically surrounding the known copper-gold zone. Past work has been largely focused in and around the original surface discovery area and only extends to about 300 metres deep. To better understand the district scale potential of this porphyry system CANEX proposes a deep looking induced polarization (IP) survey that can potential look up to 1000 metres deep and extend that survey across 6 to 7 kilometres of strike length. Completing a district scale IP survey is considered a critical next step in evaluating the discovery potential of the Louise project. Given the modest costs for a survey of this type and the high value a new copper-gold discovery might create, see this as an excellent risk-reward proposition for CANEX shareholders. The Company is currently planning the next stage of exploration at Louise. New Risk • Sep 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Share price has been highly volatile over the past 3 months (22% average weekly change). Market cap is less than US$10m (CA$6.29m market cap, or US$4.63m). Minor Risk Shareholders have been diluted in the past year (8.4% increase in shares outstanding). Duyuru • Jul 04
CANEX Metals Inc. Announces Surface Sampling Results from the Gold Range Project in Arizona CANEX Metals Inc. announced surface sampling results from the Gold Range Project in Arizona. CANEX successfully completed a surface exploration program at the Gold Range Project in Arizona in March, collecting 151 surface rock and soil samples from across the property with detailed mapping completed at the growing WestGold target. New areas of mineralization were identified during the program and the WestGold zone was significantly expanded. Highlights · Three (3) new mineralized zones have been identified across CANEX's Gold Range property, assays from all three zones have returned high-grade gold mineralization. · Surface chip sampling in the eastern part of the Gold Range property returned 19.4 g/t gold over 3 metres in a zone that has never been drill tested. · A new zone of high-grade mineralization was identified 300 metres north of the Excelsior deposit, in the east-central part of the property, returning 11.2 g/t gold from a grab sample. · A new zone of quartz veining and gold mineralization was discovered in the west-central part of the Gold Range property with a grab sample from a poorly exposed area returning 5.05 g/t gold. · Grab samples of quartz veins in the WestGold area have returned grades up to 6.67 g/t gold and mineralized halos surrounding larger quartz veins have returned 0.97 g/t over 2 metres and 0.66 g/t gold over 3 metres in chip samples, confirming the presence of bulk tonnage targets at the zone. · Mapping has expanded the exploration target at WestGold to an area 800 metres by 400 metres and WestGold is now the largest exploration target on the Gold Range property. The zone is fully permitted, and drill testing can commence as markets strengthen. The March field program has successfully identified multiple new areas of gold mineralization on the Gold Range property that warrant additional exploration and evaluation. In the eastern part of the property a sericite altered pegmatite dike with quartz veins returned 19.4 g/t gold over 3 meters in chip sampling. This zone remains open for expansion and has never been drill tested. The pegmatite dike hosting this mineralization has been traced for hundreds of metres and additional field work will be planned to define the strike length of this high-grade zone. North of the Excelsior deposit a new zone of discontinuous quartz veining was identified with a grab sample returning 11.2 g/t gold. A new area of quartz veining was also found in the west-central part of the claim block with a grab sample from the poorly exposed zone returning 5.05 g/t gold. The Company anticipates that additional low-cost field work at Gold Range has excellent potential to identify new bulk tonnage and high-grade drill targets. Surface mapping at the WestGold zone has both increased the understanding of the target and significantly expanded the size of the target with near surface mineralization inferred to occur over an area 800 metres by 400 metres. WestGold mineralization is centered along a flat dipping high grade quartz vein structure surrounded by a larger mineralized halo that is being evaluated for its bulk tonnage potential. Grab sampling of quartz veins in the WestGold area during the March program returned grades to 6.67 g/t gold and chip sampling of the mineralized halos returned grades up to 0.97 g/t gold over 2 metres and 0.66 g/t gold over 3 meters, with all mineralized areas open for expansion. The 2023 drill discovery at WestGold where hole GR23-120 returned 0.7 g/t gold over 35 metres (previously announced see CANEX News Release dated May 8, 2023) indicates the bulk tonnage target at WestGold could be around 35 metres thick. Previous sampling at the WestGold zone shows the main flat dipping quartz vein can have very high grades locally, with previous programs returning chip samples grading 23.5 g/t gold over 1 metre, 28.7 g/t gold over 0.6 metres, and 57.5 g/t gold over 0.4 metres. The Company successfully amended its Gold Range exploration permit in March of this year to allow drill testing of the WestGold Target. WestGold is now the Company's highest priority exploration target on the Gold Range property and is ready for drill testing as markets strengthen. Duyuru • May 31
CANEX Metals Inc., Annual General Meeting, Aug 06, 2024 CANEX Metals Inc., Annual General Meeting, Aug 06, 2024. Duyuru • Mar 12
CANEX Metals Inc. and CANEXCO Inc. Receive Exploration Permit Amendment for Gold Range and Surface Exploration Program to Commence Shortly CANEX Metals Inc. and its 100% owned Arizona subsidiary CANEXCO Inc. announced that an exploration permit amendment has been accepted for the Gold Range Project, Arizona, and a surface exploration program will commence in March. In January 2024, the Company filed an exploration permit amendment for the Gold Range project to allow for new drill pads at the WestGold area to further expand upon a new gold discovery announced on May 8, 2023, where hole GR23-120 intersected 35 metres grading 0.7 g/t gold, including 7.6 metres grading 2.5 g/t gold. The permit amendment has been accepted by the Bureau of Land Management (BLM) subject to an increase in the reclamation bond amount of $6,060 (USD). In total the Gold Range exploration permit (Notice of Work) allows for the construction of an additional 34 drill pads located mainly along the 4-kilometre strike length of the known mineralized trend. In March 2024, the Company will undertake a surface sampling and mapping program designed to fill in surface sampling and mapping gaps within and surrounding the WestGold area to aid in future drill planning. The Company sees potential to significantly expand the area of known gold mineralization at the Eldorado zone and further work will be conducted at that zone. Additional target areas on the property will also be advanced and evaluated as future drill targets. The Company is planning to conduct shortwave infrared and near-infrared spectroscopy studies on samples from across the main deposits and along the entire 4-kilometre mineralized trend to identify alteration minerals and look for alteration patterns that might provide useful exploration vectors. CANEX personnel will also inventory and document the condition of recently acquired mine buildings and other assets at the Excelsior Mine. New Risk • Feb 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$1.6m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$1.6m free cash flow). Share price has been highly volatile over the past 3 months (28% average weekly change). Earnings have declined by 34% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$5.14m market cap, or US$3.84m). Minor Risk Shareholders have been diluted in the past year (21% increase in shares outstanding). Duyuru • Nov 30
CANEX Metals Inc. announced that it has received $0.286875 million in funding On November 29, 2023, CANEX Metals Inc. closed the transaction. The transaction included participation from a single investor. Duyuru • Jul 06
Canex Metals Inc. Announces Results from 19 Reverse Circulation Drill Holes from Multiple Targets Across the Gold Range Project, Arizona Canex Metals Inc. announced results from 19 reverse circulation drill holes from multiple targets across the Gold Range Project, Arizona. This drilling has intersected strong gold mineralization within the Excelsior Zone and demonstrates a new area with good gold potential at East Excelsior, located immediately east of Excelsior. Hole GR23-131 at the Excelsior Zone intersected 4.1 g/t gold over 6.10 metres including a high-grade vein returning 13.3 g/t gold over 1.53 metres; Hole GR23-136 at the Excelsior zone intersected 1.0 g/t gold over 15.24 metres including 2.4 g/t gold over 4.57 metres; 5 holes tested a 200-metre strike length at the East Excelsior Target with all 5 holes returning gold mineralization, confirming the exploration potential of the system; The East Excelsior Target contains multiple parallel mineralized structures within a zone up to 75 metres wide; The East Excelsior target is fully permitted for further drill testing, a permit amendment is underway to allow further drill testing and definition of the new WestGold discovery. Assay results from drill holes GR23-119 and GR23-121 to 138 have been received and are presented here. These drill holes tested the Shaft Target, the East Excelsior Target, and Excelsior. These drill holes tested theShaft Target, the East Excel'sior Target, and Excels senior. These drill holes tested the shaft Target, the East Exceling Target, and Excelsior". Gold Range Property drill hole location map showing the Excelsior to WestGold trend, the Central and Lillian Zones, Shaft, and drill hole locations included in this release. Hole GR23-131 tested a gap in the central part of the Excelsior zone and returned a high-grade gold intercept of 4.1 g/tgold over 6.1 metres including 13.3 g/tgold over 1.53 metres. The drill encountered a historic underground working immediately below this high-grade zone where no recovery was obtained over 3 metres. Hole GR23-136 was located 100 metres northeast of hole GR23-131 and returned 1.0 g/t gold over 15.24 metres including a higher-grade intercept returning 2.4 g/t gold over 4.57 metres. Holes GR23-131 to 137 successfully added and extended mineralization within the main Excelsior zone. Holes GR23-129, 130, and 138 tested the northeast and northwest extensions of the zone and did not encounter significant mineralization. Holes GR23-122 to 128 tested parallel mineralized trends at the East Excelsior Target with 5 of the 7 test holes encountering gold mineralization. One of the zones at East Excelsior was tested along a 200-metre strike length by holes GR123 to 127, with all 5 holes returning gold mineralization and confirming the exploration potential of the target which remains open along strike. Results from this initial test include hole GR23-124 which returned 1.1 g/t gold over 4.58 metres, and hole GR23-127 which returned 0.4 g/t gold over 9.15 metres and another 2.3 g/t gold over 3.05 metres. Duyuru • May 30
Canex Metals Inc. Completes 24 Hole Reverse Circulation Drill Program At the Gold Range Project in Arizona with the First Batch of Drill Assays CANEX Metals Inc. recently completed a 24 hole reverse circulation drill program at the Gold Range Project in Arizona with the first batch of drill assays from the program highlighting a new drill discovery at the WestGold Target with hole GR23-120 returning 35 metres grading 0.7 g/t gold (previously released see May 8, 2023 new release). Assay results for 19 additional holes are pending and will be released as they are received, validated, and interpreted.Dr. Shane Ebert P.Geo., is the Qualified Person for CANEX Metals and has approved the technical disclosure contained in this news release. Duyuru • May 09
Canex Metals Inc. Announces Results from 5 Reverse Circulation Drill Holes from the Maiden Drill Test of the Westgold Target at the Gold Range Project, Arizona CANEX Metals Inc. announced results from 5 reverse circulation drill holes from the maiden drill test of the WestGold Target at the Gold Range Project, Arizona. Highlights The first holes ever drilled into the WestGold Target have resulted in a new drill discovery with hole GR23-120 returning 0.7 g/t gold over 35 metres including 1.9 g/t gold over 10.67 metres and 2.5 g/t gold over 7.6 metres Hole GR23-118 intersected 0.2 g/t gold over 54.9 metres including 0.4 g/t gold over 15.2 metres, along with 3 additional mineralized intervals at depth A flat dipping structural control on the WestGold discovery combined with significant mineralized intercepts in holes GR23-118 and 120, ndicate potential for a large near-surface zone of oxide-gold mineralization at WestGold WestGold is located 450 metres west of known mineralization at Eldorado, extending the known strike length of the main mineralized trend n the property to 4 kilometres. Results for 19 drill holes are pending, including holes testing the Shaft Target, targets parallel to Excelsior, and the main Excelsior Zone along strike and to depth. Assay results from drill holes GR23-116 to 118, and GR23-120, all from the WestGold Target on the Gold Range Project, Arizona, have been received and are presented here. All five holes successfully intersected gold mineralization with holes GR23-118 and120 intersecting gold zones containing significant grades and widths. A property drill hole location map showing the Excelsior to WestGold trend, the Central and Lillian Zones, the new Shaft discovery, and holes GR23-115 to 118 and GR23-120 at WestGold. The WestGold mineralized zone contains mineralized quartz veins occurring along a flat dipping shear zone that is surrounded by a wider halo of irregular quartz veins and veinlets giving rise to a potential bulk tonnage oxide gold target. The zone has potential to extend over an area hundreds of meters by hundreds of metres and its location near the top of a hill allows for evaluation by shallow surface drilling and provides a favorable open pit geometry. WestGold is located 450 metres west of known mineralization at Eldorado, extending the known strike length of the main mineralized trend on the property to 4 kilometres from the previously outlined 3.5 kilometres. Holes GR22-115 to 117 tested the northern side of the WestGold target and all 3 holes returned anomalous zones of gold mineralization. Holes GR23-118 and 120 tested the southern part of the WestGold soil anomaly and both holes intersected broad zones of gold mineralization. Hole GR23-120 intersected 0.7 g/t gold over 35.05 metres including 0.9 g/t gold over 25.91 metres and 1.9 g/t gold over 10.67 metres. Hole GR23-118 intersected multiple parallel zones of gold mineralization highlighted by 0.2 g/t gold over 54.86 metres including 0.4 g/t gold over 15.24 metres. Holes GR23-118 and 120 are an excellent initial result from a large zone that remains wide open for testing and expansion. Recent Insider Transactions • Apr 07
Independent Director recently bought CA$100k worth of stock On the 3rd of April, Blair Schultz bought around 2m shares on-market at roughly CA$0.06 per share. This transaction amounted to 50% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Duyuru • Jan 24
CANEX Metals Inc. Announces Results from 11 Reverse Circulation Drill Holes from the Gold Range Project, Arizona, and the Commencement of a Surface Exploration Program CANEX Metals Inc. announced the results from 11 reverse circulation drill holes from the Gold Range Project, Arizona, and the commencement of a surface exploration program. Shaft Target New Discovery A new drill hole discovery has been made at the Shaft Target where hole GR22-110 has intersected 1.1 g/t gold over 27.4 metres from 33.54 metres downhole, including 1.7 g/t over 15.24 metres. This discovery is located 1.5 kilometres northeast of the Central Zone and 2.4 kilometres north of the Excelsior Zone and appears to be part of a new gold zone with a northeast trend and near vertical dip. The Shaft Target is best exposed by a historic shaft containing a strongly deformed northeast trending shear zone and quartz vein system that is covered by stream- wash gravels to the southwest. A zone of historic placer mining occurred along the trend, 200 metres southwest of the discovery hole, suggesting continuity and size potential for the target. Seventeen claims have been staked to cover the area surrounding the target and field crews are currently on site conducting additional surface exploration. Results from Excelsior, Central, Adit and Tin Cabin Holes GR22-104 to 106 tested the Central Zone, holes GR22-107 and 108 tested the Adit Zone, hole GR22-109 tested the Tin Cabin Zone, and holes GR22-111 to 114 tested the southeast side of the Excelsior Zone. Section B-B' below shows holes GR22-112 and 114 from the southern end of the Excelsior Zone. Holes 112 and 114 have extended the width of the Excelsior Zone by 75 metres to the east, and mineralization remains open in that direction. In the southern area the Excelsior zone is 25 to 50 metres thick, 150 metres wide and open, and has been traced for 400 metres along a northeast trending strike and remains open in both directions along strike. The bulk tonnage oxide gold target is showing a favorable open pit geometry with mineralization starting at surface and having a flat to moderate west dip. The next phase of drill testing at Excelsior will include tracing the zone along strike and testing for additional parallel mineralized zones within a 500-metre-wide corridor containing anomalous gold-in-soils and known mineralized quartz veins at surface. Holes GR22-104 to 106 tested the Central Zone with hole GR22-104 returning 0.4 g/t gold over 6.1 metres and hole GR22-106 intersected 3 mineralized zones ranging from 4.57 to 15.21 metres thick. Holes GR22-107 and 108 tested the Adit Zone and did not intersect significant mineralization. Near Term Plans Gold Range: The Company anticipates a busy year at Gold Range following up recent discoveries and new target areas in addition to defining and expanding established zones of gold mineralization. Field crews are currently on site defining and expanding multiple gold targets in preparation for drill testing. These targets include the new Shaft discovery and the large WestGold Target, with fieldwork including grid soil sampling, rock chip sampling, and detailed surface mapping. The Company is working to expedite fieldwork and assay results so drill targeting and permit amendments can be completed as expeditiously as possible. CANEX is fully financed to complete the next round of drilling at Gold Range, and planning is underway to resume reverse circulation drilling at the project. The timing and magnitude of the next round of drilling will be announced once finalized. The Company is fully permitted to resume drilling along strike at Excelsior and test the larger potential of the 3.2 kilometre long by 0.5 kilometre-wide Excelsior-Malco-Eldorado trend. Duyuru • Dec 13
Canex Announces Drilling Results and Westgold Target Expansion Gold Range Project, Arizona CANEX Metals Inc. announced the results from 7 reverse circulation drill holes and observations from recent surface work at the Gold Range Project, Arizona. Reverse Circulation Drill Results Assay results for 7 reverse circulation holes are presented here, with significant gold intersections shown in the Table below. Two holes were drilled on the east side of the Excelsior zone testing for parallel zones of gold mineralization. Hole GR22-97 successfully encountered a new gold zone to the east of Excelsior, returning 1.4 g/t gold over 6.09 metres including 4.6 g/t gold over 1.52 metres. This intercept is interpreted to line up with a zone of mapped surface mineralization defining a new parallel gold trend to Excelsior. With an amended surface exploration permit now in hand, the Company can fully explore this target and test for additional parallel zones of mineralization within a larger target corridor that exceeds 500 metres in width. Holes GR22-98 and GR22-99 did not encounter significant mineralization. Holes GR22-101, 102 and 103 were drilled at the Eldorado Zone. Hole GR22-101 has expanded the known mineralized zone up to 75 metres to the northwest, intersecting 3 zones of mineralization grading 0.2 g/t gold over 18.3 metres, 0.3 g/t gold over 4.57 metres, and 0.4 g/t gold over 10.64 metres. The Eldorado zone is showing potential for a near-surface zone of oxide gold mineralization that is at least 175 meters wide, by 250 metres long, by 50 metres meters thick and the extent of mineralization has not been fully delineated. Assay results for 11 drill holes from the summer drill program will be released once they are complete and have been interpreted and compiled. Of these holes 4 tested new targets in the central and northern part of the claim block in areas not drilled previously. Duyuru • Nov 16
CANEX Metals Inc. announced that it has received $0.083579 million in funding On November 15, 2022, CANEX Metals Inc. closed the transaction. The transaction included participation from a single investor. Duyuru • Sep 07
CANEX Metals Inc. Makes New Drill Discovery At the Central Zone and Receives Amended Exploration Permit for the Gold Range Project, Arizona CANEX Metals Inc. announced the results from 11 reverse circulation drill holes from the Gold Range Project located in northern Arizona and the receipt of an amended exploration permit for the project. Assay results for drill holes GR22-86 to 96, from the Excelsior, Central, Lillian, and Malco zones, have been received and are presented here. A single hole, GR22-91, was drilled at the Central Zone during the January to March 2022 drilling program resulting in a new drill discovery. Hole GR22-91 intersected 2 mineralized intervals returning 0.7 g/t gold over 9.15 metres from 15.24 metres depth and 0.6 g/t gold over 18.29 metres from 47.26 metres depth including 1.1 g/t gold over 7.62 metres. Hole GR22-91 intersected a cumulative mineralized interval of 27.44 metres grading 0.6 g/t gold and demonstrates the potential for Central to host significant zones of gold mineralization. Hole GR22-92 was drilled 490 metres to the northwest and also intersected mineralization returning 1.0 g/t gold over 4.57 metres. Follow up drilling has been conducted at the Central Zone as part of the current drill program. Holes GR22-86 to 90 were drilled at Excelsior and focused on extending and defining the southern part of the mineralized zone which has now been defined over a 500 metre strike length and remains open. Hole GR22-86 intersected 4 mineralized zones for a cumulative total of 36.58 metres of mineralization between 0 and 79.27 metres depth, the largest zone being 18.29 metres grading 0.5 g/tgold from 60.98 metres. Hole GR22-87 intersected 3 mineralized zones including 1.2 g/t gold over 7.62 metres from 6.1 metres depth. Hole GR22-90 intersected 1.2 g/t gold over 12.19 metres from 33.54 metres depth. Hole GR22-93 to 96 tested the Malco Zone, with hole GR22-93 returning 0.7 g/t gold over 4.57 metres from 22.87 metres depth and hole GR22-96 returning 0.4 g/t gold over 7.62 metres. Two follow up drill holes have tested the east side of Malco during the current drilling program, focusing on an area where recent sampling has produced strong gold in soil and gold in rock results. Duyuru • Jun 28
CANEX Metals Inc. Announces Results from 7 Reverse Circulation Drill Holes from the Excelsior Zone At the Gold Range Project Located in Northern Arizona CANEX Metals Inc. announced the results from 7 reverse circulation drill holes from the Excelsior Zone at the Gold Range Project located in northern Arizona. Six of the 7 drill holes have returned multiple gold mineralized intercepts and continue to expand the potential of the Gold Range project. Assay results for drill holes GR22-79 to 85, all from the Excelsior zone, have been received and are presented here. Hole GR22-79 was oriented away from the mineralized zone and did not intersect significant mineralization. These Excelsior holes were focused on defining and extending results from hole GR21-57 which contains the longest continuous zone of mineralization encountered on the Gold Range property to date, intersecting 1.0 g/t gold over 59.45 metres starting from surface including 1.4 g/t gold over 32 metres. Hole GR22-82 was mineralized from the start of the hole to 48.78 metres depth returning 1.0 g/t gold over 48.8 metres, including a high-grade zone that returned 9.7 g/t gold over 1.52 metres. Hole GR22- 83 was drilled from the same pad as hole 82 but at a steeper angle and intersected 4 mineralized zones within the upper 79.3 metres of the hole containing a cumulative mineralized length of 57.9 metres. Results from GR22-83 are highlighted by 0.9 g/t gold over 44.21 metres from 35.06 metres depth, including a high-grade zone of 2.7 g/t gold over 10.67 metres. Hole GR22-84 intersected 3 mineralized zones including 1.0 g/t gold over 10.67 metres from surface and 0.9 g/t gold over 7.62 metres from 73.17 metres depth. Hole GR22-85 intersected 4 mineralized zones within the upper 73.17 metres of the hole with a cumulative mineralized length of 21.34 metres, highlighted by 2.4 g/t gold over 9.15 metres from 13.72 metres depth. Holes 82 and 84 both intersected a second deeper zone of mineralization on the southeast side of the system that could represent a new subparallel mineralized zone within the larger 500 metre-wide prospective corridor defined by gold in soil anomalies and intermittent exposure of gold bearing quartz veins and veinlets. This new subparallel zone remains to be traced toward surface and along strike, and the larger corridor needs to be systematically tested for similar zones of mineralization to the southeast. Duyuru • Jun 14
CANEX Metals Inc. Intersects 1.8 G/T Gold over 6.1 Meters Within Wider Zone of 0.6 G/T Gold over 30.5 Meters At the Eldorado Zone - Drilling Resumes At Gold Range CANEX Metals Inc. announced the results from 10 reverse circulation drill holes from the Eldorado Zone at the Gold Range Project located in northern Arizona. The Company is also to announce that reverse circulation drilling has resumed at Gold Range. Assay results for drill holes GR21-69 to 78, all from the Eldorado zone, have been received and are presented here. These holes were all step outs, mostly on the north and west side of Eldorado, and are starting to define a higher-grade central zone surrounded by lower grade material with the total zone now identified over an area 300 meters by 200 meters that remains open. Results from the Eldorado zone have exceeded expectations with 9 of the 10 step out holes intersecting gold mineralization and the majority of holes showing indications of multiple stacked mineralized horizons. Holes GR21-73 tested the northwest side of the Eldorado zone and returned 0.6 g/t gold over 30.48 meters from 12.2 meters depth, including 1.8 g/t gold over 6.1 meters. Hole GR21-73 intersected a second zone of mineralization at depth that returned 0.7 g/t Au over 3.05 meters from 57.9 meters depth. Overall the zone appears to be getting thicker and perhaps stronger to the northwest where it remains open for expansion. Hole GR21-69 was a 220 meter step out on the north side of the Eldorado zone. The hole intersected 3 mineralized horizons, supporting the Company's interpretation that the Eldorado zone has potential for multiple stacked sub horizontal mineralized zones and demonstrating significant room to expand the zone. Hole GR21-71 was located 130 meters south of hole GR21-69 and 100 meters north of the Eldorado zone. This hole also intersected 3 mineralized horizons, with the upper horizon also including a few meters of historic leach pad material. Holes GR21-69 and 71 support potential for significant expansion of the Eldorado mineralized zone to the northeast. A reverse circulation drill rig has been mobilized to Gold Range and will continue to expand known zones and test new targets within the existing permit areas. A new exploration permit amendment is in progress and once received will allow systematic drill testing of the larger scale exploration potential recently defined over a strike length exceeding 3.2 kilometers and over widths up to 500 meters. Drilling Summary: Reverse circulation drilling is currently underway at Gold Range and this fourth drill program is expected to exceed 5000 meters of drilling and extend into the fall. Drilling will start at Excelsior, then test priority targets at Malco, Eldorado, and in the northern part of the claim block. Once a pending permit amendment is received CANEX will look to systematically test the larger scale potential of the main mineralized district scale structure at Gold Range which shows potential to contain multiple parallel mineralized zones across a 500 meter width. Assay results for 18 previously drilled holes are still pending. Of these, 12 are from the southern end of the Excelsior zone, 4 are from the Malco zone, and 2 are from the Central and Lillian zones. Quality Control: Reverse circulation drill cuttings were collected in numbered cloth sample bags from 5 foot intervals during drilling and were picked up from site and analyzed by Skyline Assayers and Laboratories in Tucson, Arizona . A 1000g pulp was prepared and gold was assayed using a 50g fire assay with an atomic absorption finish. Gold samples greater than 5 g/t are redone using a 50g fire assay method with a gravimetric finish. The Company included certified reference standards, blanks, and duplicates in every sample batch and then checked to ensure proper quality assurance and quality control prior to releasing the data. Duyuru • May 28
CANEX Metals Inc. announced that it has received CAD 2.5 million in funding On May 27, 2022, CANEX Metals Inc. closed the transaction. The securities are subject to a hold period of four months plus one day or until September 28, 2022. Duyuru • May 04
CANEX Metals Inc. Appoints Blair Schultz as Board of Directors CANEX Metals Inc. announced Blair Schultz has joined the company's board of directors. Mr. Schultz will be participating in the current financing and will own 5.3% of CANEX shares upon closing. Mr. Schultz has over 25 years of capital markets and financial experience including senior executive roles and brings significant merger and acquisition experience to the board. Among his successes includes time spent at Klondex Mines. Duyuru • May 03
CANEX Metals Inc. announced that it expects to receive CAD 2.5 million in funding from Altius Minerals Corporation CANEX Metals Inc. announced a non-brokered private placement of up to 19,230,769 units at an issue price of CAD 0.13 per unit for gross proceeds CAD 2,500,000 on May 2, 2022. Each common unit will consist of one common share and one-half of one common share purchase warrant. Each whole common share purchase warrant will entitle the holder to purchase one common share at a price of CAD 0.18 per share for a period of two years following closing. After a 6 month non-callable period the warrants will be subject to acceleration at the Company's discretion if at any time the Company's 20 day volume weighted average share price trades above 25 cents. The transaction will include participation from individual investor Blair Schultz, and returning investor Altius Minerals. All securities issued in the transaction have a hold period of four months and one day from the date of closing of the transaction. The company will not pay any commissions in the transaction. The transaction is subject to approval from TSX Venture Exchange and regulatory approval. Blair Schultz will join company's board of directors. Duyuru • Feb 11
Canex Continues to Intersect Gold Mineralization At Gold Range with 0.5 G/T Gold over 22.9 Metres Including 0.8 G/T Gold over 13.7 Metres CANEX Metals Inc. announced assay results for 8 drill holes from the Company's ongoing reverse circulation drilling program designed to expand oxide gold mineralization at the Gold Range Project, Arizona. Highlights: Hole GR21-49 in the central part of the Excelsior zone intersected 0.5 g/t gold over 22.87 metres starting at 28.96 metres depth, including 0.8 g/t gold over 13.72 metres. Hole GR21-52 in the central part of the Excelsior zone intersected 0.5 g/t gold over 15.25 metres starting at 39.63 metres depth, including 0.7 g/t gold over 7.63 metres. Hole GR21-56 intersected 0.6 g/t gold over 12.19 metres starting at 27.44 metres depth. Hole GR21-60 near the northern end of the Excelsior system intersected 0.6 g/t gold over 9.14 metres starting at 79.27 metres depth demonstrating mineralization extends to depth. Current step out drilling at the south end of the Excelsior zone has intersected broad zones of alteration and quartz veining prompting the Company to add additional holes to the drill plan in this area. Assay results for holes GR21-49 to 53, 55, 56, and 60, all from the Excelsior zone, have been received and are presented here. A drill hole location map is shown on Figure 1, cross sectionD-D' with holes GR21- 55 and 56 is shown on Figure 2 and cross section H - H' with hole GR21- 60 is shown on Figure 3.Holes GR21-49, 50, 51, and 52 are located near the center of the Excelsior zone. Hole GR21-49 and returned 0.5 g/t gold over 22.87 metres from 28.96 metres down hole, including 0.8 g/t gold over 13.72 metres depth. Hole GR21-52 intersected 0.5 g/t gold over 15.25 metres from 39.63 metres depth. Hole GR21-50 intersected anomalous mineralization with no significantintervals. Holes GR21-55 and 56 are located on the east side of section D-D'. Hole GR21-56 intersected3 mineralized intervals including 0.6 g/t gold over 12.19 metres. Hole GR21-55 was locatednorthwest of hole GR21-56 and only intersected anomalous gold indicating mineralization maybe closing in this direction. Drilling is currently testing the southeast side of section D-D' wheremineralization appears to strengthen and widen. Holes GR21-60 tested the northern part of the Excelsior zone at depth and returned 0.6 g/t goldover 9.14 metres along with additional narrow mineralized intercepts. The hole demonstratesExcelsior mineralization continues to the north and at depth.Drilling to date indicates the Excelsior mineralization widens toward the south, in proximity to amajor fault intersection, and testing the size and extent of this covered zone is the current drillpriority. Once this priority is complete step out and expansion drilling will resume along the 3kilometre long prospective gold trend at Gold Range. Drilling Summary: The drill is currently focused on step outs from hole GR21-57 located on the southern end of theExcelsior zone. Hole GR21-57 intersected 1.0 g/t gold over 59.45 metres starting from surface(previously released, see December 16, 2021 news release) and the current drilling is designedto establish the continuity of the zone to the south and east and determine if the mineralizedzone gets larger as it approaches a major fault intersection. The Company is pleased toannounce that step out drilling in this area has intersected wide zones with sericite alterationand quartz veining that appear similar to those observed in hole GR21-57. The presence ofalteration and quartz veining is considered a promising feature and has given the Companyconfidence to add additional drill holes in the area, however, only gold assays can determine ifthe zone contains significant gold mineralization and assays for these new holes have not yetbeen received. Thirty four holes have been completed during the ongoing drill program (holes GR21- 49 to GR21-82)and the drill is currently on the 35th hole (GR22-83). Over 3370 metres (11,055 feet) have been drilledof a total program expected to consist of around 50 holes and 5000 metres of drilling.Results for 21 holes have been received and released, an additional 13 holes are in the process of beinganalyzed and will be released in batches as they are complete. The current drill program is designed totest the expansion potential and continuity of the Excelsior, Eldorado, and Malco zones, and test additional exploration targets on the property. Quality Control: Reverse circulation drill cuttings were collected in numbered cloth sample bags from 5 foot(1.52m) intervals during drilling and were picked up from site and analyzed by Skyline Assayersand Laboratories in Tucson, Arizona (which is ISO/IEC 17025 accredited). A 1,000g pulp wasprepared and gold was assayed using a 50g fire assay with an atomic absorption finish (methodFA-01-50g). Gold samples greater than 5 g/t are redone using a 50g fire assay method with agravimetric finish (method FA-02 50g). Twenty-four additional elements were analyzed using amulti acid digestion and inductively coupled plasma (method TE-4). The Company includedcertified reference standards, blanks, and duplicates in every sample batch and then checkedto ensure proper quality assurance and quality control prior to releasing the data. Duyuru • Sep 15
CANEX Metals Inc. Announces A Reverse Circulation Drill Program Is Underway At the Gold Range Project, Arizona CANEX Metals Inc. announced that a reverse circulation drill program is underway at the Gold Range Project, Arizona. Three holes have been completed at the Excelsior Zone and a fourth is in progress. The Company plans to drill up to 50 holes during the current drilling program. The current reverse circulation drill program will consist of up to 50 drill holes and a minimum of 3000 metres of drilling. The program will initially focus on expanding high grade near surface mineralization identified at the Excelsior Zone before expanding outward along the 3 kilometre long mineralized trend linking the historical Excelsior, Malco, and Eldorado Mines. The Excelsior Zone was first drill tested by the Company in February of this year and returned very strong grades such as 1.6 g/t gold over 35.1 metres including 2.2 g/t gold over 24.4 metres (previously released see June 14, 2021 news release). The program will also look to expand mineralization at the Eldorado and Malco zones and test multiple areas along the known trend. A few holes are planned to test larger targets in the central and northern part of the claim block. The drill program is expected to run into late October with assay results released in several batches as they become available. The main exploration targets at Gold Range are near surface bulk tonnage gold zones hosted in metamorphic rocks and cretaceous intrusive dikes. Mineralization contains disseminated stockwork style quartz veinlets surrounding high grade gold veins. Free gold has been observed within high grade veins and within stockwork veinlets. Eight bottle roll samples from across the system achieved final cyanide soluble gold recoveries ranging from 94 to 99%, averaging 97% (previously released see September 8, 2021 news release). These exceptional cyanide soluble recoveries confirm the project as a valid heap leach type target. Numerous heap leach style mining operations are currently active in the Western United States and Northern Mexico, and these deposit types are sought after by mining companies as they are low cost to build and can be operated highly profitably at very low average gold grades. Duyuru • Jul 03
CANEX Metals Inc. announced that it has received CAD 0.084195 million in funding On July 2, 2021, CANEX Metals Inc. closed the transaction. The transaction included participation from 1 investor. Duyuru • Jun 15
CANEX Metals Inc. Announces That Assay Results Have Been Received for 7 Additional Drill Holes from the Company's 2021 Reverse Circulation Drilling Program At the Gold Range Project, Arizona CANEX Metals Inc. announced that assay results have been received for 7 additional drill holes from the Company's 2021 reverse circulation drilling program at the Gold Range Project, Arizona. Results for reverse circulation drill holes GR21-33 to 39 from the Company's 2021 drilling program at the Gold Range project have been received and are presented here. Holes GR21-33 and 34 were drilled 250 metres south of the Excelsior zone, and holes GR21-35 to 39 tested the Excelsior area along a single cross section. Hole GR21-37 returned mineralization from surface to 35.06 metres depth averaging 1.6 g/t gold over 35.1 metres including a higher-grade zone containing 8.2 g/t gold over 4.6 metres. This mineralized zone is consistent with observations and sampling conducted within a small open pit above hole GR21-37, where stockwork quartz and quartz-carbonate veining occurs along with high grade veins and mineralized intrusive dikes. Holes GR21-35 and 36 were drilled from the same pad as GR21-37 and also intersected significant mineralized intervals, including 0.5 g/t gold over 9.1 metres in hole GR21-35, and 1.1 g/t gold over 19.8 metres in hole GR21-35. Holes GR21-38 and 39 were both drilled from the same pad located 50 metres back from holes GR21-35, 36, and 37. Both holes ended in mineralization and stopped short of the main Excelsior Vein. These holes will be deepened or re-drilled in future programs. Holes GR21-38 and 39 intersected large zones of anomalous gold with hole GR21-28 returning 1.2 g/t gold over 18.3 metres. These first holes into the Excelsior zone demonstrate good continuity of mineralization and show strong grades within a 30 to 40 metre wide mineralized zone that has a moderate dipping geometry favorable for an open pit target. Hole GR21-37 demonstrates a considerable high grade component to the system, and supports systematic drill testing of the target down dip and along strike. Holes GR21-33 and 34 tested a blind target in a covered area coinciding with the Contact Zone structure and the occurrence of quartz boulders at surface. Hole GR21-33 intersected 0.3 g/t gold over 7.6 meters starting at 3.1 metres depth and 0.4 g/t gold over 4.6 metres starting at 15.2 metres depth before encountering the Contact Zone structure and hitting mostly barren rocks in the footwall. Hole GR21-33 continues to confirm the association of the Contact Zone structure with district scale gold mineralization, and future tests in this area will step back to the west and test a larger area in the hanging wall of the fault. In early 2021 the Company successfully completed 34 reverse circulation drill holes across 2.5 kilometres of strike length along the southern portion of the Gold Range Property. In total 2357.6 metres were drilled in holes ranging from 38 to 137 metres deep. Fifteen holes were drilled at the Eldorado Zone to test and expand the Company's previously announced bulk tonnage oxide discovery, 5 holes tested various targets across the southern part of the property and 14 holes tested the Excelsior Mine area. To date 25 holes from the 2021 drill program have been received and released and results for an additional 9 drill holes are pending and will be released as they are received, compiled, and interpreted. Duyuru • Jun 08
CANEX Metals Inc. Announces Assay Results Received for 5 Additional Drill Holes from the Company's 2021 Reverse Circulation Drilling Program At the Gold Range Project, Arizona CANEX Metals Inc. announced assay results have been received for 5 additional drill holes from the Company's 2021 reverse circulation drilling program at the Gold Range Project, Arizona. Results for reverse circulation drill holes GR21-28 to 32 from the Company's 2021 drilling program at the Gold Range project have been received and are summarized in the table below. These holes were drilled at the Eldorado Zone and along the projected strike of oxide gold mineralization up to 1.2 kilometres to the east. Holes GR21-31 and 32 tested the historic Malco Mine area located half-way between the Eldorado and Excelsior zones. Hole GR21-31 intersected 62.5 metres grading 0.3 g/t gold from 74.7 metres to the end of the hole at 137.2 metres, with mineralization remaining open at depth. The hole also intersected higher grade zones including 0.7 g/t gold over 16.8 metres and 1.4 g/t gold over 7.6 metres. Hole GR2132 intersected 0.9 g/t gold over 10.7 metres from 42.7 metres depth, including 4.9 g/t gold over 1.5 metres. The mineralized zone in holes GR21-31 and 32 appears to significantly widen with depth and the holes are interpreted to have hit a steeply dipping mineralized structure that conceptually sits above a zone of flat dipping mineralization analogous to Eldorado. Hole GR21-30 was located 400 metres southeast of the Eldorado zone and was drilled from an existing stream wash to minimize surface disturbance. The hole encountered anomalous gold from 0 to 13.7 metres depth returning 0.2 g/t gold over 13.7 metres before encountering the contact zone structure and hitting barren rocks in the footwall. The hole successfully demonstrates that mineralization continues in the hangingwall of the contact zone structure. Future test holes will be stepped back to the north to allow for a wider test of the prospective hangingwall target. In early 2021 the Company successfully completed 34 reverse circulation drill holes across 2.5 kilometres of strike length along the southern portion of the Gold Range Property. In total 2357.6 metres were drilled in holes ranging from 38 to 137 metres deep. Fifteen holes were drilled at the Eldorado Zone to test and expand the Company's previously announced bulk tonnage oxide discovery, 5 holes tested various targets across the southern part of the property and 14 holes tested the Excelsior Mine area. Results for an additional 16 drill holes are pending and will be released as they are received, compiled, and interpreted. Duyuru • May 28
CANEX Metals Inc. Announces Favorable Cyanide Soluble Gold Recoveries from Mineralized Samples from the Eldorado Zone at the Gold Range Project CANEX Metals Inc. announced favorable cyanide soluble gold recoveries from mineralized samples from the Eldorado Zone at the Gold Range Project, Arizona. Highlights: Cyanide soluble gold analyses from sample pulps from the Eldorado Zone show excellent recoveries and support a bulk tonnage heap leach target. 200 samples of oxidized and transitional material average 79.5% cyanide soluble gold. 8 samples have been submitted for bottle roll test work to provide a more detailed metallurgical characterization of Gold Range mineralization. Two hundred pulp samples from reverse circulation drilling at the Eldorado zone have been analyzed for cyanide soluble gold using a 2 hour cold cyanide leach on 15 gram pulp samples. The 200 samples returned a range of 25 to 127% cyanide soluble gold, averaging 79.5%. The samples analyzed are mainly from visibly oxidized zones, although some mixed oxide and sulfide (transitional) material was noted deeper in the system. January-February Gold Range Drill Program: In early 2021 the Company successfully completed 34 reverse circulation drill holes across 2.5 kilometres of strike length along the southern portion of the Gold Range Property. In total 2,357.6 metres were drilled in holes ranging from 38 to 137 metres deep. Fifteen holes were drilled at the Eldorado Zone to test and expand the Company's previously announced bulk tonnage oxide discovery, 5 holes tested various targets across the southern part of the property and 14 holes tested the Excelsior Mine area. Results for an additional 21 drill holes are pending and will be released as they are received, compiled, and interpreted. Duyuru • Apr 27
CANEX Metals Inc. Announces Assay Results Have Been Received for 8 Additional Drill Holes from the 2021 Reverse Circulation Drilling Program At the Gold Range Project, Arizona CANEX Metals Inc. announced assay results have been received for 8 additional drill holes from the Company’s 2021 reverse circulation drilling program at the Gold Range Project, Arizona. Two zones of gold mineralization have been encountered in hole GR21-25, an upper zone containing 0.3 g/t gold over 10.6 metres starting at 22.9 metres depth, and a higher grade and thicker lower zone containing 1.3 g/t gold over 21.3 metres starting at 54.9 metres. The lower zone in hole GR21-25 intersected a higher grade interval containing 2.4 g/t gold over 10.6 metres including 5.1 g/t over 4.5 metres, and the hole ended in mineralization. The presence of 2 near surface stacked zones of gold mineralization opens up the size potential of the Eldorado target. Results for 21 additional drill holes from the Gold Range Project are pending. Results for reverse circulation drill holes GR21-20 to 27 from the Company’s 2021 drilling program at the Gold Range project have been received and are presented here. These holes were drilled at the Eldorado Zone where the Company discovered bulk tonnage style gold mineralization potential in late 2020. Holes GR21-24, 25 and 26 were all drilled from the same pad and oriented at different azimuths to test a broad area, and all three holes hit gold mineralization. Holes GR21-24, 25, and 27 are shown on cross section D-D’. Hole GR21-25 was oriented towards the north and tested a mostly covered area returning strong gold mineralization in two mineralized zones that are interpreted to be flat dipping. The upper mineralized zone in hole GR21-25 returned 0.3 g/t gold over 10.6 metres starting at 22.9 metre depth, the lower zone returned 1.3 g/t gold over 21.3 metres starting at 54.9 metres depth, with the hole ending in mineralization. The lower zone in hole GR21-25 contains a zone of higher grade mineralization containing 2.4 g/t gold over 10.6 metres, including 5.1 g/t gold over 4.5 metres. The upper and lower mineralized zones appear to increase in grade toward the northwest where they remain open for expansion. Holes GR21-25 and 26 are strongly oxidized over their entire lengths suggesting a deep level of oxidation within the mineralized area. Duyuru • Mar 03
CANEX Metals Inc. Completes Second Round of Drilling at the Gold Range Project, Arizona CANEX Metals Inc. announced the completion of the Company’s second reverse circulation drilling program at the Gold Range Project in Northern Arizona. The Company successfully completed 34 drill holes across 2.5 kilometres of strike length along the southern portion of the Gold Range Property. In total 2357.6 metres were drilled in holes ranging from 38 to 137 metres deep. During the program the amount of drilling was increased by over 25% from the originally planned 1829 metres due to efficient drilling progress and encouraging drill observations. During the program 15 holes were drilled at the Eldorado Zone to confirm and expand the Company’s previously announced bulk tonnage oxide discovery, where hole GR20-9 intersected 27.4 metres grading 0.9 g/t gold starting at surface. Five holes tested various targets across the southern part of the property and 14 holes tested the Excelsior Mine area. During the program 1642 drill samples were collected and have been submitted for assay with first results expected in the next few weeks. Select targets in the central and northern part of the property remain to be tested and additional work focused on the Eldorado to Excelsior area and testing additional targets will commence following assay results. Duyuru • Jan 29
Canex Metals Inc Commences At the Company's Gold Range Project in Northern Arizona CANEX Metals Inc. announced that drilling has commenced at the company's Gold Range Project in Northern Arizona. The Drill program will consist of a minimum of 6,000 ft (1829 metres) and will test multiple targets that have been identified. The first 2 holes of the 2021 program have been completed and the drill is working on the third hole. Drilling is currently focused on the Eldorado Zone where up to 15 holes are planned to confirm and
expand the company's previously announced bulk tonnage oxide discovery (see press release dated November 2, 2020). The Eldorado Zone discovery was highlighted by hole GR20-9 which intersected 27.4 metres grading 0.9 g/t gold starting at surface. The Eldorado Zone and the recently optioned Excelsior Mine have similar characteristics and structural controls and are interpreted to be part of the same large mineralizing system that has been traced
through mapping and sampling over a strike length of 3 kilometers. Bulk tonnage target widths for this zone based on drilling and surface mapping range from 24 to 80 metres. The current drill program will
focus on testing the Eldorado Target and the zone of historic underground and more recent open pit mining at Excelsior. Twelve to 15 holes are planned for the Excelsior Mine and a few holes are planned test the zone along strike between Eldorado and Excelsior. The Excelsior Mine has seen near surface historic production on multiple levels and more recent exploitation from small open pits centered along a high-grade zone 0.5 to 2 metres wide and
surrounded by a halo of sheeted quartz and quartz carbonate veins that form a 20 to 50 metre wide zone with bulk tonnage potential. Sampling by CANEX (see press release dated January 13 2021)
from various locations along the main Excelsior Vein returned gold values up to 45.4 g/t over 0.5 metres, 13.3 g/t over 0.4 metres, 6.6 g/t over 1 metre, and 3.8 g/t over 1 metre. Chip samples from the
halo surrounding the main vein have returned strong gold mineralization including 1.9 g/t over 1 metre, 1.7 g/t over 1 metre, 0.7 g/t over 1 metre, and 0.5 g/t over 1.5 metres. A 0.3 metre chip sample across
an 8 metre wide strongly altered and quartz veined post-metamorphic granite dike located in the hangingwall of the Excelsior Vein returned 20.9 g/t gold. The Gold Range Property is located in Northern Arizona within an underexplored belt containing historic load and placer gold production. CANEX has identified widespread gold mineralization within a 3 kilometre by 5 kilometre area including two gold-in-soil anomalies that are up to a kilometre in scale. Drilling in August and September 2020 identified near surface bulk tonnage gold potential at the Eldorado Zone with Hole GR20-9 returning 0.9 g/t gold over 27.3 metres including 5.9 g/t gold over
1.5 metres. Hole GR20-8 drilled from the same pad as GR20-9 returned 0.5 g/t gold over 24.4 metres starting from surface. Hole GR20-13, drilled 150 metres west of GR20-9, returned 0.6 g/t gold over
21.3 metres. The new discovery correlates with a strong gold in soil anomaly and sheeted quartz veinlets and stockworks within metamorphic rocks. The immediate target area at Eldorado containing exposed mineralization and strong gold in soils is 250 metres long by 24 to 80 metres thick, with mapping, gold in soils, and surface rock sampling suggesting the zone could extend for over a kilometer along strike. Duyuru • Jan 19
CANEX Metals Inc. Signs Drill Contract for the Gold Range Project, Arizona CANEX Metals Inc. announced it has signed a reverse circulation drill contract with a major international drilling company to drill a minimum of 1829 metres (6000 feet) at the Companies Gold Range Project in Arizona. Drilling is scheduled to start at the end of this week and will include up to 30 drill holes testing multiple priority targets. Drilling will initially focus on confirming and expanding the recently discovered zone of bulk tonnage style mineralization at the Eldorado Zone. This zone is highlighted by drill hole GR20-9 which intersected 27.3 metres grading 0.9 g/t gold starting at surface. The Company anticipates up to 15 short holes in this zone to confirm and expand the near-surface bulk tonnage discovery. The recently optioned Excelsior Mine which has seen considerable historic underground and more recent open pit production will be drill tested during the upcoming program. The target at Excelsior is very similar to Eldorado and contains a shallow dipping high grade vein, 0.5 to 2 meters wide, that has returned grades from limited chip sampling ranging from 3.8 g/t gold over 1 metre to 45.4 g/t gold over 0.5 metre. Surrounding this high-grade vein is a halo of quartz veinlets and altered and mineralized intrusive dikes that have returned grades ranging from 0.7 g/t gold over 1 metre to 20.9 g/t gold over 0.3 metres. Approximately 10 drill holes are planned at Excelsior to test the high-grade vein and the surrounding bulk tonnage halo. Drilling is also being planned for the Central Zone and historic Lillian Mine area where CANEX has defined a gold in soil anomaly almost 1 kilometre long and which likely extends onto the Lillian Mine area, which has not yet been soil sampled. Drilling in this area will target a series of sub parallel veins within a 100 metre wide corridor that have returned strong gold values including 11.2 g/t gold over 1 metre, 8.8 g/t gold over 0.3 metres, and 7.4 g/t gold over 0.2 meters. Duyuru • Jan 12
CANEX Metals Inc. announced that it has received CAD 1.7 million in funding On January 11, 2021, CANEX Metals Inc. (TSXV:CANX) closed the transaction. The company issued 707,500 common shares for CAD 70,750 in its final tranche. All securities issued are subject to a hold period of four months plus one day or May 12, 2021. No finders fees was paid in connection with the final tranche of the transaction. Duyuru • Dec 11
CANEX Metals Inc. announced that it expects to receive CAD 0.65 million in funding CANEX Metals Inc. (TSXV:CANX) announced a non-brokered private placement of 6,500,000 shares at an issue price of CAD 0.10 per share gross proceeds for CAD 650,000 on December 9, 2020. The transaction will include participation from accredited investors. All securities issued in the transaction have a hold period of four months and one day from the date of closing of the transaction. The company will not pay any commissions in the transaction. The transaction is subject to approval from TSX Venture Exchange and regulatory approval. Duyuru • Nov 17
Canex Extends Bulk Tonnage Potential At Gold Range Drills 21.3 Metres Grading 0.6 G/T Gold 150 Meters West of Initial Discovery CANEX Metals Inc. announced assay results for holes GR20-10 to 14 from the recent reverse circulation drilling program at the Company's Gold Range Project, Arizona. Highlights: Hole GR20-13 intersected 0.6 g/t gold over 21.3 metres including 1.2 g/t gold over 7.6 metres starting 10.7 metres downhole. Hole GR20-9 (previously released) located 150 metres west of hole GR20-13, intersected 0.9 g/t gold over 27.4 metres, while hole 8 from the same pad intersected 0.5 g/t gold over 24.4 metres plus a deeper zone of 0.2 g/t gold over 25.9 metres, and combined these 3 holes demonstrate potential for a significant near surface bulk tonnage target in the area. Holes GR20-12 and 13 intersected mineralized and highly anomalous gold over a 50 to 75 metre wide interval in a zone that is interpreted to underly the shallow dipping mineralization intersected in holes GR20-8 and 9. The combined thickness of the prospective zone showing heap leach potential could be 80 metres or more. The gold bearing drill holes sit within a 200 metre wide by 600 metre long gold in soil anomaly with an overlapping magnetic low that remains wide open for testing. Contact Target: The Contact Target and the Eldorado Targets appear to be part of the same mineralized system and soils and magnetic data suggest the zone is at least 200 metres wide and 600 to 1000 metres long. Holes GR20-12 and GR20-13 were drilled into the Contact Target to test a zone of strong gold in soils and gold in surface rock samples. Both holes were drilled from the same pad and oriented to the south, with hole 12 drilled at a -48 degree angle and hole 13 drilled at a -70 degree angle. Holes GR20-10 and 11 tested the East Eldorado vein located 500 metres east of holes 12 and 13. Both holes intersected anomalous gold over much of their lengths. Hole GR20-14 was drilled at the Central Zone, 2 kilometres to the northeast, partially testing a large gold in soil anomaly. The hole intersected widespread anomalous gold with one interval returning 1.3 g/t gold over 1.52 metres. The Central Zone remains largely untested. The Company is working on plans for a second phase of exploration drilling that will focus on understanding and defining the newly recognized bulk tonnage target at Gold Range. Mineralized intervals from holes 8, 9, and 13 with be re-analyzed for gold using a cyanide leach extraction to better understand the heap leach potential of the target. Quality Control: Reverse circulation drill cuttings were collected in numbered cloth sample bags from 5 foot (1.52m) intervals during drilling and shipped to Skyline Assayers and Laboratories in Tucson, Arizona (which is ISO/IEC 17025 accredited) for analyses. A 1000g pulp was prepared and gold was assayed using a 50g fire assay with an atomic absorption finish (method FA-01-50g). All gold samples greater than 5 g/t were redone using a 50g fire assay method with a gravimetric finish (method FA-02 50g). Twenty-four additional elements were analyzed using a multi acid digestion and inductively coupled plasma (method TE-4). The Company included certified reference standards, blanks, and duplicates in every sample batch and then checked to ensure proper quality assurance and quality control. Duyuru • Nov 03
CANEX Metals Inc. Announces Assay Results for Holes GR20-6 to 9 from the Recent Reverse Circulation Drilling Program At Gold Range Project, Arizona CANEX Metals Inc. announced assay results for holes GR20-6 to 9 from the recent reverse circulation drilling program at the Company's Gold Range Project, Arizona. Holes GR20-8 and GR20-9 were drilled on the west side of the Eldorado Zone to test a gold-in- soil anomaly and the down dip extension of the Eldorado Vein. Both holes were drilled from the same pad and oriented to the northwest, with hole 8 drilled at a -45 degree angle and hole 9 drilled at a -65 degree angle. Both holes intersected significant zones of gold mineralization starting immediately below 1.5 metres of surface overburden. Hole GR20-8 intersected 0.5 g/t gold over 24.4 metres starting at 1.5 metres depth, plus a second mineralized zone grading 0.2 g/t gold over 25.9 metres from 61 to 86.9 metres depth. Hole GR20-9 intersected 0.5 g/t gold over 50.3 metres starting at 1.5 metres depth, including 0.9 g/t gold over 27.4 metres from 6.1 to 33.5 metres depth. Hole GR20-9 contained highly elevated gold over its entire length averaging 0.2 g/t Au over 164.6 metres. Hole GR20-9 appears to have hit the Eldorado Vein at 18.29 metres depth, returning 5.9 g/t over 1.5 metres. All the mineralized zones occur in rocks that are strongly oxidized. Holes GR20-6 and 7 were drilled 240 metres northeast of holes 8 and 9 and tested the east side of the Eldorado Zone. Hole GR20-6 intersected anomalous gold over its entire 160 metre length with zones of higher grade including 0.7 g/t gold over 1.5 metres. Hole GR20-7 intersected anomalous gold over the majority of its 192 metre length, including 0.6 g/t gold over 4.6 metres starting at surface, and zones with up to 0.7 g/t over 1.5 metres. The Eldorado target is proving to be part of a much larger mineralizing event, the extent of which supports additional systematic drill testing. Fourteen holes for a total of 1481 metres of drilling were completed at Gold Range during August and September 2020. Drilling was conducted at multiple targets across the Gold Range Property and a total of 1,044 drill samples were sent for analysis during the program. Results from the first 9 holes of the program have been received and released. Results from holes GR20-10 to 14 will be released as they are received, compiled, and interpreted. Duyuru • Oct 29
Canex Metals Inc Announces Assay Results for Holes 1 to 5 from the Recent Reverse Circulation Drilling Program At the Gold Range Project, Arizona CANEX Metals Inc. announced assay results for holes 1 to 5 from the recent reverse circulation drilling program at the company’s Gold Range Project, Arizona. Fourteen holes for a total of 1481 metres of drilling were completed at Gold Range during August and September 2020. Drilling was conducted at 5 different targets across the Gold Range Property and a total of 1044 drill samples were sent for analysis during the program. Results from the first 5 holes of the program have been received and included in this release. Results from holes GR20-6 to 14 will released as they are received, compiled, and interpreted. Reverse circulation drill cuttings were collected in numbered cloth sample bags from 5 foot (1.52m) intervals during drilling and shipped to Skyline Assayers and Laboratories in Tucson, Arizona (which is ISO/IEC 17025 accredited) for analyses. A 1000g pulp was prepared and gold was assayed using a 50g fire assay with an atomic absorption finish (method FA-01-50g). All gold samples greater than 5 g/t were redone using a 50g fire assay method with a gravimetric finish (method FA-02 50g). Twenty-four additional elements were analyzed using a multi acid digestion and inductively coupled plasma (method TE-4). The company included certified reference standards, blanks, and duplicates in every sample batch and then checked to ensure proper quality assurance and quality control. The Gold Range Property is located in Northern Arizona within an area that has seen historic lode and placer gold production but limited systematic modern lode gold exploration. Fieldwork by the company has identified numerous gold exploration targets on the property with grab samples from outcropping quartz veins returning multiple values in the 20 to 40 g/t gold range, and chip sampling returning values of 53.2 g/t gold over 0.6 metres, 31.7 g/t gold over 1 metre, 24.3 g/t gold over 1.5 metres, 28.1 g/t gold over 1 metre, 17.2 g/t over 1.1 metre, and 8.47 g/t gold over 5.6 metres. Is New 90 Day High Low • Oct 27
New 90-day low: CA$0.20 The company is down 25% from its price of CA$0.28 on 28 July 2020. The Canadian market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is down 7.0% over the same period. Is New 90 Day High Low • Oct 02
New 90-day low: CA$0.21 The company is down 34% from its price of CA$0.33 on 03 July 2020. The Canadian market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 9.0% over the same period. Duyuru • Sep 30
Canex Metals Inc. Announces Surface Assay Results from Trench 10 At the Gold Range Project CANEX Metals Inc. announced surface assay results from Trench 10 at the Gold Range Project, Arizona, and update the status of its drilling program which began on August 25. Trench 10 was constructed during the summer 2020 exploration program at Gold Range, and assay results from the trench are presented here. The trench is located 150 metres northwest of the Pit Zone and tested the thesis that Pit Zone style mineralization might continue to the northwest on the north side of a prominent fault. The trench successfully exposed flat lying and irregular quartz veining locally containing minor sulfide minerals and visible gold. Chip sampling of a clay altered fault zone, which potentially offsets the zone from the historically mined open pit, returned trace gold. This mineralized zone remains open to the North, beyond the extent of the trench. The trench returned very strong gold mineralization containing 12.97 g/t gold over 3 metres within a larger zone of 6.12 g/t gold over 9 metres. Drill Program Update: Fourteen holes have now been drilled during the program for a total of 1,481 metres of drilling. While the program was initially designed for 1,675 metres of drilling, equipment limitations have forced early termination of the drill program with 88% of the planned drilling being completed. All 4 of the targets in the southern part of the property have been tested, and 1 out of 3 targets in the northern part of the property has been partially tested. Samples from holes 1 to 10 have been sent to the assay lab in batches and are in various stages of processing. Samples from holes 11 to 14 are currently being transported to the lab for processing. A total of 1,044 drill samples have been taken for analysis during this phase of work, and results will be released as they are received, compiled and interpreted. Quality Control: All surface samples were taken by CANEX representatives and shipped to Skyline Assayers and Laboratories in Tucson, Arizona (which is ISO/IEC 17025 accredited) for analyses. A 1,000g pulp was prepared and gold was assayed using a 50g fire assay with an atomic absorption finish (method FA- 01-50g). All gold samples greater than 5 g/t were redone using a 50g fire assay method with a gravimetric finish. Twenty-four additional elements were analysed using a multi acid digestion and inductively coupled plasma. 
