Excelsior Mine Property Purchase Completed

CALGARY - CANEX Metals Inc. and its Arizona subsidiary CANEXCO Inc. reported the completion of the Excelsior Mine Property purchase and provide a summary of 2023 Exploration at the Gold Range Project, Arizona. The Company has completed the purchase of a 100% interest in the Excelsior Mine Property from the Vendors. The Vendors retained a 1.5% net smelter royalty, with CANEX retaining a right of first refusal on the sale of the royalty.  The Excelsior Mine Property consists of 2 patented mining claims (private land ownership) and 11 lode mining claims on Federal land and sits within the Company's larger Gold Range Project. With the patented mining claims, in addition to mineral rights, the Company also acquires significant surface infrastructure including two warehouse buildings, a house, and a water well. This existing infrastructure will be highly valuable in helping to facilitate low-cost exploration at the project.