Canamex Intersects Additional Gold Zones in Drilling Outside of Current Resource Areas at Bruner Project, Nye County, Nevada

(August 22, 2017) Canamex Resources Corp. (“Canamex”) (TSX-V: CSQ) (OTCBB: CNMXF) (FSE: CX6) is pleased to provide assay results from the summer drilling campaign at the Bruner gold project in Nye County, Nevada.

Penelas Resource Area

All eight holes drilled to test open extensions of the gold zones between two preliminary sub-pits of the current Penelas resource area intersected gold across mineable widths above the cut-off grade referenced in the Company’s PEA reported in May 2016. The best intercept is in hole B-1708 and contains 200 feet (61 metres) from 615-815 feet (187.5-248.5 metres) of 1.224 gpt Au and 8.38 gpt Ag (1.287 gpt Au (eq) using $1280 Au price and $17 Ag price). All the intercepts are presented in the table below.  The average total intercept of all eight holes drilled is 221 feet (67.4 metres) grading 0.679 gpt Au and 4.32 gpt Ag (0.736 gpt Au(eq)).

The eight holes drilled at the Penelas resource area cover an area of approximately 200 metres by 150 metres located mostly in the data gap between the two preliminary sub-pits as outlined in the Company’s PEA.  This area was identified as having a high probability of containing gold that could be added to the resource inventory with additional drilling. The success of this drilling program should allow for expansion of the resource at Penelas when resources are re-calculated next.

HRA Resource Area

Seven of the eight holes drilled at the northern spire located immediately north of the northern limit of the HRA resource area intersected gold over mineable widths and above the cut-off grade used in the Company’s PEA released in May 2016. The best intercept at the northern spire is in hole B-1709 and is 55 feet (16.8 metres) grading 3.022 gpt Au and 124.5 gpt Ag (4.676 gpt Au (eq)) between 420-475 feet (128-144.8 metres). Several of the holes intersected 1-3 gpt Au material in the first twenty feet of the holes, suggesting the drill was practically sitting on top of the gold zone and requiring we return, step back from the location where the drill was positioned, and re-drill these areas to try to intersect these shallow gold zones deeper in the section.  All of the holes at the northern spire contained significantly higher silver grades than exists in previous holes completed in the historic resource area. Newmont never assayed for silver, so the recognition of higher silver grades in the north of the HRA resource area suggest we revisit the interpolated silver grades where we were lacking in silver values from historic drilling.  Only one hole from this summer’s program failed to intersect significant gold or silver. Drilling at the northern spire covered an area of approximately 100 metres squared. The average total intercept from the seven holes which intersected gold is 36 feet (11 metres) grading 0.956 gpt Au and 34.01 gpt Ag (1.408 gpt Au(eq)). Additional drilling will be required at the northern spire to follow-up on the intercepts in this summer’s drilling program in order to significantly add to the resource base at the HRA resource area.

The true thickness of the 2017 intercepts is currently undetermined, pending a thorough review of the geology and the relationship between lithologies, structure, and the intercepts reported herein.The results of this summer’s drilling program clearly demonstrate the ability of the company to continue to intersect significant gold outside of the current resource base, which should allow for expansion of the resource with continued drilling and revisiting the resource calculations at the appropriate time.

Greg Hahn, President and COO and a Certified Professional Geologist (#7122) is the Qualified Person under NI43-101 responsible for preparing and reviewing the data contained in this press release.

QA/QC Statement

Drill hole samples are stored on site and are retrieved by an independent contractor and transported in their custody to the ALS Minerals laboratory in Reno/Sparks, Nevada, where they were dried, crushed, pulverized, and analyzed by ALS Minerals laboratory in Vancouver, BC for gold and silver.  Duplicates, blanks, and standards were inserted at regular intervals for QA/QC purposes. All drill samples are prepared by crushing the entire sample to 70% passing 2mm size, splitting out 250 grams of sample and pulverizing this split to 85% passing -75 microns in size. From the 250 gram pulp 30 grams is split out for fusion and fire assay with an AA finish. If results return 3 g/tonne Au or greater, or 100 g/tonne Ag or greater, the lab performs a 30-gram fire assay with a gravimetric finish from the same pulp. In addition, a second sample is prepared by crushing the sample down to 90% passing 10 mesh and proceeding to a rotary split of 1 kg that is pulverized to 85% passing 200 mesh. From the 1 kilogram pulp 30 grams is split out for a second fire assay with gravimetric finish. 

New Corporate Address

Please be advised that the Company recently moved its corporate office to the following address:

#804 – 750 West Pender Street, Vancouver, BC, V6C 2T7.

ON BEHALF OF THE BOARD

Gregory A Hahn, President and COO

Contact: (720) 244-2022

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

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

CAUTIONARY NOTE TO US INVESTORS REGARDING RESOURCE ESTIMATION

Canamex Resources prepares its resource estimates in accordance with standards of the Canadian Institute of Mining, Metallurgy and Petroleum referred to in Canadian National Instrument 43-101 (NI 43-101). These standards are different from the standards generally permitted in reports filed with the SEC. Under NI 43-101, Canamex Resources reports measured, indicated and inferred resources, measurements, which are generally not permitted in filings made with the SEC. The estimation of measured resources and indicated resources involve greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. U.S. investors are cautioned not to assume that any part of measured or indicated resources will ever be converted into economically mineable reserves. The estimation of inferred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. Forward-looking statements in this news release include statements in relation to the timing, cost and other aspects of the planned programs on the Bruner property; the potential for development of the mineral resources; the potential mineralization and geological merits of the Bruner property; and other future plans, objectives or expectations of the Company. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include the risk that actual results of current and planned exploration activities, including the results of the Company's future drilling program(s) on the Bruner property, will not be consistent with the Company's expectations; the geology, grade and continuity of any mineral deposits and the risk of unexpected variations in mineral resources, grade and/or recovery rates; fluctuating metals prices; possibility of accidents, equipment breakdowns and delays during exploration; exploration cost overruns or unanticipated costs and expenses; uncertainties involved in the interpretation of drilling results and geological tests; availability of capital and financing required to continue the Company's future exploration programs and preparation of geological reports and studies; delays in the preparation of geological reports and studies; the metallurgical characteristics of mineralization contained within the Bruner property are yet to be fully determined; general economic, market or business conditions; competition and loss of key employees; regulatory changes and restrictions including in relation to required permits for exploration activities (including drilling permits) and environmental liability; timeliness of government or regulatory approvals; and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. In connection with the forward-looking information contained in this news release, the Company has made numerous assumptions, including that the Company's future programs will proceed as planned and within budget. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.

Bruner Gold Project            
2017 Exploration Drilling Results          
Significant Intervals            
                 
Penelas Resource Area            
Hole No. from (ft) to (ft) Thick. (ft)  Thick. (m) gpt Au gpt Ag gpt Au(eq)  
B-1701 25 45 20 6.10 0.302 0.90 0.314  
  395 430 35 10.67 0.397 0.75 0.407  
  550 620 70 21.34 0.438 2.68 0.474  
Sub-Total     125 38.11 0.405 1.85 0.429  
                 
B-1702 675 745 70 21.34 1.370 3.85 1.421  
  870 890 20 6.10 0.484 5.65 0.559  
  1110 1165 55 16.77 0.288 8.85 0.406  
Sub-Total     145 44.21 0.837 5.99 0.917  
                 
B-1703 320 465 145 44.21 0.610 2.37 0.641  
  615 640 25 7.62 0.554 1.00 0.567  
  695 740 45 13.72 0.424 2.40 0.456  
  840 920 80 24.39 0.434 3.00 0.474  
Sub-Total     295 89.94 0.529 2.43 0.561  
                 
B-1704.2* 380 440 60 18.29 0.360 2.70 0.396  
  690 734 44 13.41 0.349 0.50 0.356  
Sub-Total     104 31.71 0.355 1.77 0.379  
                 
B-1705 15 55 40 12.20 0.677 3.95 0.729  
  125 200 75 22.87 0.437 2.37 0.468  
  260 295 35 10.67 1.114 13.86 1.298  
  335 365 30 9.15 0.424 1.52 0.444  
  410 535 125 38.11 0.805 4.24 0.861  
  565 625 60 18.29 0.433 8.76 0.549  
  865 895 30 9.15 0.496 1.95 0.522  
  1115 1130 15 4.57 0.462 17.70 0.697 end of hole
Sub-Total     410 125.00 0.634 5.48 0.707  
                 
B-1706 110 165 55 16.77 0.499 5.25 0.569  
  195 270 75 22.87 0.543 7.67 0.645  
  495 505 10 3.05 0.784 11.28 0.934  
  555 565 10 3.05 0.709 3.03 0.749  
Sub-Total     150 45.73 0.554 6.71 0.643  
                 
B-1707 75 170 95 28.96 1.372 0.87 1.384  
  300 385 85 25.91 0.376 2.61 0.411  
  510 580 70 21.34 0.633 2.59 0.667  
  625 700 75 22.87 0.433 2.54 0.467  
Sub-Total     325 99.09 0.736 2.08 0.763  
                 
B-1708 235 250 15 4.57 0.606 2.53 0.640  
  615 815 200 60.98 1.224 8.38 1.335  
Sub-Total     215 65.55 1.181 7.97 1.287  
                 
PENELAS DRILL HOLE AVERAGE 221 67.42 0.679 4.32 0.736  
                 
HRA Resource Area            
Hole No. from (ft) to (ft) Thick. (ft)  Thick. (m) gpt Au gpt Ag gpt Au(eq)  
B-1709 95 115 20 6.10 0.386 1.13 0.401  
  420 475 55 16.77 3.022 124.50 4.676  
Sub-Total     75 22.87 2.319 91.60 3.536  
                 
B-1710 45 70 25 7.62 0.254 10.10 0.388  
  390 405 15 4.57 0.203 26.75 0.558  
      40 12.20 0.235 16.34 0.452  
                 
B-1711 0 5 5 1.52 1.615 4.65 1.677  
  120 145 25 7.62 0.331 6.94 0.423  
      30 9.15 0.545 6.56 0.632  
                 
B-1712 30 40 10 3.05 0.339 2.95 0.378  
                 
B-1713 0 25 25 7.62 0.717 31.64 1.137  
  100 110 10 3.05 0.923 0.90 0.935  
Sub-Total     35 10.67 0.776 22.86 1.079  
                 
B-1714 0 25 25 7.62 1.035 26.30 1.384  
                 
B-1715 105 140 35 10.67 0.440 3.49 0.486  
  355 360 5 1.52 0.308 5.75 0.384  
Sub-Total     40 12.20 0.424 3.77 0.474  
                 
B-1716 No significant intercepts          
                 
HRA DRILL HOLE AVERAGE 36 11 0.956 34.01 1.408  
                 
B-1704.2 is a re-drill of initial hole B-1704 which was terminated at 245 feet due to technical difficulties.
Au (eq) based upon gold and silver prices of $1280/oz. and $17/oz. respectively.  

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Phone:    +1 (604) 336-8612
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