CANEX METALS INC - NOMNF STOCK NEWS

CANEX Metals Inc. has successfully closed a C$600,000 private placement to enhance its Gold Range Project in Arizona. The financing attracted strong investor support, with insider ownership increasing to 21.1%. Notably, lead investor Michael Gentile now holds 10.9% of CANEX. The funds will allow the company to expand its drilling program from 15 to 30 holes, targeting key areas such as the WestGold and Shaft Targets. As of now, seven holes have been drilled, with assay results pending. This initiative aims to increase potential mineralization in this underexplored region.

CANEX Metals Inc. has announced an increase in its non-brokered private placement due to strong shareholder demand, now offering up to 10,000,000 shares at $0.06 per share, aiming for gross proceeds of $600,000. The offering will be available to accredited investors and is subject to a four-month hold period and regulatory approval. Funds from this financing will support drilling and exploration at the Gold Range Property and provide general working capital. The Company notes this placement falls within the MI 61-101 exemption guidelines as it does not exceed 25% of its market capitalization.

CANEX Metals Inc. has announced a non-brokered private placement to raise up to $500,000 by offering 8,333,333 shares at $0.06 each. The shares will be available to accredited investors and will have a hold period of four months plus one day post-closing. Proceeds will be utilized for drilling and exploring the Gold Range Property and general working capital. The Gold Range project, located in Northern Arizona, is a promising oxide-gold target with notable drilling results including 1 g/t gold over 59.5 metres. The financing is pending regulatory approval.

CANEX Metals Inc. has announced the commencement of exploration drilling at its Gold Range Project in Arizona, focusing on three high-priority targets with significant discovery potential.

Key highlights include:

• The expansion of the WestGold soil anomaly, measuring 425m by 150m, representing the strongest gold anomaly to date.
• Recent high-grade assay results confirm gold grades up to 57.5 g/t.
• A permit amendment allowing drilling at WestGold, with 4 holes planned.
• Newly mapped mineralized zones parallel to Excelsior with grades up to 21.5 g/t.

The drilling program aims for 15 holes across these promising areas.

CANEX Metals announces significant findings from 11 reverse circulation drill holes at the Gold Range Project in Arizona. Notably, hole GR22-110 revealed a new gold mineralization zone with an intersection of 1.1 g/t gold over 27.44 metres, including 1.7 g/t gold over 15.24 metres. This area appears to be part of a new gold trend located northeast of the Central Zone. Additionally, recent drilling has expanded the Excelsior Zone's mineralization width by 75 metres, indicating further exploration potential. Field crews are preparing to drill test emerging targets.

CANEX Metals Inc. announced significant drilling progress at its Gold Range Project in Arizona. Highlights include the discovery of a new mineralized zone at the Excelsior Zone intersecting 1.4 g/t gold over 6.09 metres. The Eldorado Zone was expanded by 75 metres, showcasing potential for a large near-surface oxide gold zone. Additionally, a new GoldWest Target was identified, offering further exploration opportunities. The company plans further drilling as remaining assay results are awaited.

CANEX Metals has announced significant exploration results from its Gold Range Project in Arizona, identifying a new gold anomaly named GoldWest. This anomaly spans 400 metres in length and 125 metres in width, with gold values between 122 to 612 parts per billion. Additionally, CANEX has acquired a lode mining claim for US$20,000, adjacent to this anomaly, previously a small-scale gold producer. The company aims to further explore this region, with drill testing expected in early 2023 as results from 18 drill holes remain pending.