Exploration Update On Gold Range Property In Arizona

CALGARY, AB - CANEX Metals Inc. reported an update on the exploration program at the Company's Gold Range Property in Arizona. A trenching and surface exploration program commenced at Gold Range in October. A total of 8 trenches were excavated with 6 trenches targeting mineralized zones along the Adit Shear Zone and 2 trenches dug at the Discovery Zone. All of the trenches successfully exposed bedrock and have been mapped and sampled. A total of 182 rock samples were collected during the program and have been sent for assay with results expected in the upcoming weeks.

As part of the program the Company completed considerable geologic mapping and target evaluation within the Gold Range Property and in the surrounding areas. Forty-six additional claims have been staked to cover new zones of mineralization that have been discovered during prospecting as well as numerous historical workings. The Gold Range Property now consists of 72 lode mining claims (552 Ha) staked on land administered by the Bureau of Land Management. Visible gold has been observed in several quartz-sulfide veins within the new areas recently staked. 

The first phase of trenching and prospecting is complete. Reconnaissance soil grids are being planned to further evaluate new targets, and the Company is looking to commission a property wide airborne magnetic survey to help evaluate the structural and geological setting and target additional zones for follow up work, additional trenching, and drilling.

The company's address is 815, 808-4th Avenue SW, Calgary, AB T2P 3E8, (403) 233-2636, www.canexmetals.ca.