First Holes At WestGold Target Result In New Drill Discovery

CALGARY - CANEX Metals Inc. reported on reverse circulation drill holes from the maiden drill test of the WestGold Target at the Gold Range Project, Arizona. The first holes ever drilled into the WestGold Target has resulted in a new drill discovery with hole GR23-120 returning 0.7 g/t gold over 35 meters including 1.9 g/t gold over 10.67 meters and 2.5 g/t gold over 7.6 meters. Hole GR23-118 intersected 0.2 g/t gold over 54.9 meters including 0.4 g/t gold over 15.2 meters, 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, indicate potential for a large near-surface zone of oxide-gold mineralization at WestGold. 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

Shane Ebert, President, said, "These significant drill intercepts at WestGold further highlight the prospectivity of the Gold Range Project and our Teams ability to identify and successfully drill test new targets. Recognizing a flat dipping structural control at WestGold is key to understanding the size potential of the mineralized zone, which could extend over an area hundreds of meters by hundreds of meters sitting in an ideal setting close to surface near the top of a large hill. We look forward to further advancing the WestGold zone through focused exploration work, including drilling, to fully assess the scale and grade of the mineralized system".