CALGARY, ALBERTA – CMX Gold & Silver Corp. (CSE:CXC; OTC:CXXMF) (“CMX” or the “Company”) announces that since completing its 2022 claims staking program surrounding its 100%-owned Clayton Silver Property in Idaho, USA, the Company has recently been informed by the U.S. Bureau of Land Management (BLM) that some of the claims staked contiguous to its Clayton property overlaid portions of seven historic claims staked in 1993. These claims are in the vicinity of the historic Rob Roy mine immediately north of the Clayton patented claims. This means that some of the Company’s BLM lode claims are subject to adjustment, which is expected to reduce the acreage by up to 103 acres.
Prior to carrying out the staking program, the Company researched whether there were any claims recorded for the subject BLM lands in the vicinity of CMX’s patented claims. The Company’s investigation did not reveal that any older claims existed. Local public records did not flag the old claims and no claim markers were observed. CMX is currently assessing the full effect this has on the Clayton Mine land position. Based on current information, the Company’s aggregate land holdings for the Clayton silver/lead/zinc project have been adjusted to 1,028 acres. The Company had surveyed and staked 22 lode claims on BLM land. Prior to staking the new claims, CMX’s land position was comprised of 29 patented mining claims and 2 patented mill sites aggregating 565 acres, plus 6 lode claims aggregating 119 acres.
Bruce Murray, Director
It is with profound sadness that the management and directors of CMX announce that Bruce Murray, a long-time director of the Company, passed away on April 4, 2024. Jan Alston, President & CEO of CMX stated: “Bruce has been a close personal friend and business colleague spanning 37 years. He possessed unique business acumen, as well as being an exceptionally generous person who gave so much of himself to everyone who knew him. His friendship, support and advice will be greatly missed.”
About the Clayton Silver Project
CMX’s 100%-owned Clayton Silver Property is located in the mining-friendly State of Idaho, USA. The 1,028-acre property in Custer County in south-central Idaho includes the former Clayton silver-lead-zinc mine. The Clayton Mine was developed on eight levels to a depth of 1,100 feet below surface and is comprised of approximately 19,690 feet of underground development. Two major ore bodies were partially mined: the “South Ore Body” and the “North Ore Body”.
The recorded production from the Clayton Mine included 7,031,110 oz silver, 86,771,527 lbs lead, 28,172,211 lbs zinc, 1,664,177 lbs copper, and minor amounts of gold from an estimated 2,145,652 tonnes of ore mined between 1934 and 1985 (Hillman, Bob, M.S. Thesis, June 26, 1986, Eastern Washington University).
Significant potential is demonstrated in hole 1501-A, drilled in the mid-1960’s, which penetrated the mineralized zone at 1,425 feet. At that depth, the hole intercepted 22 feet of 4.07 oz (126 gms) Ag/t, 5.75% lead and 5.37% zinc (note: true width is unknown).
Technical and scientific information in this news release was reviewed and approved by Richard Walker, M.Sc. (Geology), P.Geo., recognized as a Qualified Person under the guidelines of National Instrument 43-101.Readers are cautioned that historical information referenced in this news release is not NI 43-101compliant, but has been obtained from sources that the Company believes are reliable.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
For further information contact:
Robert d’Artois
Investor Relations
Tel: (604) 329-0845
Email bobdartois@cmxgoldandsilver.com
Jan M. Alston
President & C.E.O.
Tel: (403) 457-2697
Email: janalston@cmxgoldandsilver.com
You can also visit the Company’s Website: www.cmxgoldandsilver.com
WARNING: the Company relies upon litigation protection for “forward looking” statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the operations of the Company, changes to securities regulation requirements, other changes in laws or regulations, unanticipated risks of the COVID-19 pandemic crisis, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.
