Tickers: XOTC:CNMXF, XTSX:CSQ
Tags: Mining
Vancouver, British Columbia / TheNewswire / November 24, 2017 - Canamex Gold Corp. (the "Company") (TSX-V: CSQ) (OTCBB: CNMXF) (FSE: CX6) announces that it has granted incentive stock options to purchase a total of 550,000 common shares at an exercise price of $0.16 per share, which is currently above the market price, for a period of five years to an officer and a consultant in accordance with the provisions of its stock option plan.
About the Company
Canamex Gold Corp. (TSXV:CSQ; OTCQX:CNMXF; FSE:CX6) is engaged in fast-tracking toward development of the Bruner Gold Project in the prolific gold jurisdiction of Nye County, Nevada. The region is home to several producing and past-producing mines along the Walker Lane Trend. The Bruner Gold Property is surrounded by multi-million-ounce gold deposits, including Paradise Peak, Round Mountain and Rawhide. The company's growth strategy includes developing sufficient resources for production on patented claims first, shortening the time to permit in order to move quickly to gold production operations. Near-term cash flow generation will allow Canamex to build value for shareholders by minimizing dilution risk whilst further growing the resource through drilling. Canamex completed a positive Preliminary Economic Assessment (PEA) on the Bruner Gold Project in April 2016. However, based on additional drilling conducted on the property, the company has requested a new PEA and resource estimate, expected to be completed before the end of 2017. The PEA is robust with high IRR and low capex, based on a low cost heap leach operation, with good metallurgical recoveries and low reagent consumption. The second asset is the Silverton property, which is a gold exploration project, in Nevada and has geological similarities to the Long Canyon gold deposit (+3 million ozs Au) in Nevada which is currently being mined by Newmont Mining.
ON BEHALF OF THE BOARD
David Vincent
Chief Executive Officer
Mike Stark
Director and Chairman
Contact: (604) 833-4278
mstark@telus.net
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.
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