CANEX Metals Inc. announced results from 5 reverse circulation drill holes from the maiden drill test of the WestGold Target at the Gold Range Project, Arizona. Highlights The first holes ever drilled into the WestGold Target have resulted in a new drill discovery with hole GR23-120 returning 0.7 g/t gold over 35 metres including 1.9 g/t gold over 10.67 metres and 2.5 g/t gold over 7.6 metres Hole GR23-118 intersected 0.2 g/t gold over 54.9 metres including 0.4 g/t gold over 15.2 metres, 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, ndicate potential for a large near-surface zone of oxide-gold mineralization at WestGold WestGold is located 450 metres west of known mineralization at Eldorado, extending the known strike length of the main mineralized trend n the property to 4 kilometres. 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.

Assay results from drill holes GR23-116 to 118, and GR23-120, all from the WestGold Target on the Gold Range Project, Arizona, have been received and are presented here. All five holes successfully intersected gold mineralization with holes GR23-118 and120 intersecting gold zones containing significant grades and widths. A property drill hole location map showing the Excelsior to WestGold trend, the Central and Lillian Zones, the new Shaft discovery, and holes GR23-115 to 118 and GR23-120 at WestGold.

The WestGold mineralized zone contains mineralized quartz veins occurring along a flat dipping shear zone that is surrounded by a wider halo of irregular quartz veins and veinlets giving rise to a potential bulk tonnage oxide gold target. The zone has potential to extend over an area hundreds of meters by hundreds of metres and its location near the top of a hill allows for evaluation by shallow surface drilling and provides a favorable open pit geometry. WestGold is located 450 metres west of known mineralization at Eldorado, extending the known strike length of the main mineralized trend on the property to 4 kilometres from the previously outlined 3.5 kilometres.

Holes GR22-115 to 117 tested the northern side of the WestGold target and all 3 holes returned anomalous zones of gold mineralization. Holes GR23-118 and 120 tested the southern part of the WestGold soil anomaly and both holes intersected broad zones of gold mineralization. Hole GR23-120 intersected 0.7 g/t gold over 35.05 metres including 0.9 g/t gold over 25.91 metres and 1.9 g/t gold over 10.67 metres.

Hole GR23-118 intersected multiple parallel zones of gold mineralization highlighted by 0.2 g/t gold over 54.86 metres including 0.4 g/t gold over 15.24 metres. Holes GR23-118 and 120 are an excellent initial result from a large zone that remains wide open for testing and expansion. The March to April reverse circulation drill program at Gold Range is now complete.

A total of 24 holes were drilled for 3150.9 metres of drilling. Five holes were drilled at the WestGold Target, 2 holes at the Shaft Target, 7 holes tested targets parallel to Excelsior, and 10 holes tested the expansion potential of the Excelsior Zone along strike and down dip.