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Canamex Resources Corp
Symbol CSQ
Shares Issued 122,056,861
Close 2014-08-11 C$ 0.195
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Canamex Resources drills 9.1 m of 11.9 g/t Au at Bruner

2014-08-12 12:32 ET - News Release

Mr. Greg Hahn reports

CANAMEX DRILLING INTERSECTS 9.1 METRES GRADING 11.9 G/TONNE AU IN THE PENELAS EAST ZONE AT BRUNER GOLD PROJECT, NEVADA

Canamex Resources Corp. has provided continuing results from reverse circulation drilling at the Bruner gold project located in Nye county, Nevada.

RC hole B-1436

Reverse circulation drill hole B-1436, drilled at the open northern extension of the Penelas East zone, intersected 9.1 metres (30 feet) grading 11.9 grams per tonne Au (0.347 ounce per ton Au) at the bottom of the hole from 228.6 to 237.7 metres (750 to 780 feet) depth. Unfortunately, the hole bottomed at 237.7 metres (780 feet) in 25.9 g/t Au (0.755 ounce per ton Au) material from 236.2 to 237.7 metres (775 to 780 feet). The full extent of this mineralized zone remains untested and will be the target of follow-up drilling. The rock type encompassing the high-grade mineralization is a bi-lithic breccia similar to the host rock identified in core in previous drilling within the nearby Penelas East zone. These drill results suggest the potential presence of a new, deeper, gold-bearing breccia body. The high-grade zone intersected in hole B-1436 remains open to the west and north. Drill hole B-1437 was drilled about 50 metres (164.0 feet) to the north of B-1436, but assay results for this hole are still pending.

The mineralized intercept in hole B-1436 is reported in the attached table.

Hole   From-To Thickness oz/ton g/tonne Est.   
ID     (ft)    (ft/m)    Au     Au      true   
                                        width  
                                                 
B-1436 750-780 30/9.1    0.347  11.9    30/9.1 

RC hole B-1433

Reverse circulation drill hole B-1433, drilled at the old Penelas mine target area, intersected 29.0 metres (95 feet) grading 1.46 g/t (0.043 ounce per ton Au) from 120.4 to 149.4 metres (395 to 490 feet). This target area is located approximately halfway between the historic resource area* and the Penelas East zone, and indicates a broad zone of disseminated gold mineralization is associated with the hangingwall and a parallel splay of the Penelas vein/structure at this location. Further drilling is warranted to follow-up on this mineralized zone.

Hole   From-To Thickness oz/ton g/tonne Est.    
ID     (ft)    (ft/m)    Au     Au      true    
                                        width   

B-1433 395-490 95/29.0   0.043  1.46    50/15.2 

"We remain impressed by the diverse geologic environments where we are discovering gold on the Bruner project. While this challenges our geologic team to understand the geology fully, it encourages us to continue drilling to fully flesh out the extent of these gold intercepts and the potential resources," remarks Greg Hahn, president and interim chief executive officer.

Cross-sections showing the intercepts in this release will be posted to the Canamex website. The reverse circulation drill rig was moved back to the historic resource area east zone after completion of hole B-1437 and has drilled six holes into that target area, with assay results pending.

Drill hole samples are stored on site and are retrieved by ALS Minerals personnel or an independent contractor and transported in their custody to the ALS Minerals laboratory in Reno/Sparks, Nev., where they were photographed, sawed, sampled and analyzed by ALS Minerals laboratory for gold and silver. Duplicates, blanks and standards were inserted at regular intervals for quality assurance/quality control purposes. All drill samples are prepared by crushing the entire sample to 70 per cent passing two-millimetre size, splitting out 250 grams of sample and pulverizing this split to 85 per cent passing minus 75 microns in size. From the 250-gram pulp 30 grams is split out for fusion and fire assay with an AA finish. If results return three g/t Au or greater, the lab performs a 30-gram fire assay with a gravimetric finish from the same pulp. In addition, a second sample is prepared by crushing the sample down to 90 per cent passing 10 mesh and proceeding to a rotary split of one kilogram that is pulverized to 85 per cent passing 200 mesh. From the one-kilogram pulp 30 grams is split out for a second fire assay with gravimetric finish.

Greg Hahn, president and interim chief executive officer, and a certified professional geologist (No. 7122) is the qualified person under NI 43-101 responsible for preparing and reviewing the data contained in this press release.

* The historic resource area refers to an area on the Bruner property that was the subject of a historical resource estimate reported on the property in a press release by Miramar Mining Corp. in 1993 and is not in compliance with NI 43-101 standards. The non-compliant resource estimate was done by industry professionals in accordance with standard industry practices prevalent at the time, and is believe to be reliable, but with no assurances as to how much of the resource would qualify as measured, indicated or inferred under current industry reporting standards. A qualified person (within the meaning of NI 43-101) has not done sufficient work to classify the historical estimate as current mineral resource or mineral reserves, and the company is not treating the historical estimate as current mineral resources or mineral reserves. The historical estimate is relevant solely for purposes of directing target areas for the company's current exploration program.

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