Mr. Jan Alston reports

CMX ADJUSTS CLAYTON LANDHOLDINGS, DIRECTOR PASSES AWAY

Since completing a 2022 claim staking program surrounding the 100-per-cent-owned Clayton silver property in Idaho, United States, CMX Gold & Silver Corp. has recently been informed by the U.S. Bureau of Land Management 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 Gold'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 Gold is currently assessing the full effect this has on the Clayton mine land position. Based on current information, the company's aggregate landholdings 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 Gold's land position was composed of 29 patented mining claims and two patented mill sites aggregating 565 acres, plus six lode claims aggregating 119 acres.

Bruce Murray, director

It is with profound sadness that the management and directors of CMX Gold announce that Bruce Murray, a long-time director of the company, passed away on April 4, 2024.

Jan Alston, president and chief executive officer of CMX Gold, 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 Gold's 100-per-cent-owned Clayton silver property is located in the mining-friendly state of Idaho, United States. 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 composed of approximately 19,690 feet of underground development. Two major orebodies were partially mined: the South orebody and the North orebody.

The recorded production from the Clayton mine included 7,031,110 ounces silver, 86,771,527 pounds lead, 28,172,211 pounds zinc, 1,664,177 pounds copper and minor amounts of gold from an estimated 2,145,652 tonnes of ore mined between 1934 and 1985.

Significant potential is demonstrated in hole 1501-A, drilled in the mid-1960s, which penetrated the mineralized zone at 1,425 feet. At that depth, the hole intercepted 22 feet of 4.07 ounces (126 grams) per ton silver, 5.75 per cent lead and 5.37 per cent zinc (note: true width is unknown).

Technical and scientific information in this news release was reviewed and approved by Richard Walker, MSc (geology), PGeo, 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 43-101 compliant but has been obtained from sources that the company believes are reliable.

We seek Safe Harbor.