Canex Metals Inc. Announces Exploration Permit Amendment and Upcoming Surface Exploration for Gold Range Project

CANEX Metals Inc., along with its Arizona subsidiary CANEXCO Inc., has received approval for an exploration permit amendment for the Gold Range Project in Arizona. This amendment will facilitate additional drill pads at the newly discovered WestGold area. A surface exploration program is set to begin in March, aimed at refining drill targets at WestGold and exploring further areas for potential drilling.

Dr. Shane Ebert, President of CANEX, expressed satisfaction with the Bureau of Land Management in Kingman for their efficient handling of the permit amendments. The field team is expected to be on-site in mid-March to commence work on refining future drilling targets and assessing the condition of the recently acquired facilities at the Excelsior Mine.

The permit amendment, filed in January 2024, comes after the discovery made in May 2023 when drilling at the WestGold area intersected significant gold grades. This exploration permit now allows for the construction of an additional 34 drill pads along a 4-kilometre mineralized trend. The March surface program will also involve surface sampling and mapping to identify new drill targets. In addition, CANEX plans to conduct studies on alteration minerals to inform future exploration efforts.