CMX Makes Progress on Clayton Silver Project Geophysical Surveys

CMX Gold & Silver Corp. has made significant progress on its inaugural exploration program at the 100%-owned Clayton Silver Project in Idaho, USA. The company has completed about two-thirds of the combined 3DIP and Magnetotelluric (MT) geophysical surveys over its patented and unpatented mining claims, covering the historic mine and surrounding structures. These surveys are expected to be completed by early December 2026, providing the first comprehensive model of the underground mineralization system.

The Clayton Silver Project, located in the Bayhorse Mining District of central Idaho, approximately 30-40 kilometers south-southwest of Challis, comprises a 1,028-acre land package, including 29 patented mining claims and two patented mill sites (approximately 562 acres) and 20 unpatented claims (approximately 466 acres). The patented claims provide surface ownership rights, carry no government royalties, and do not require drilling permits.

The historic Clayton Silver Mine operated from 1935 to 1986 and produced approximately 7 million ounces of silver, together with lead, zinc, copper, and minor gold, from an estimated 2.15 million tonnes of ore. Underground development reached eight levels to a shallow depth of 1,100 feet, with nearly 19,700 feet of workings, and partially mined two tabular ore bodies known as the South and North Ore Bodies (Hillman, Bob, M.S. Thesis, June 26, 1986, Eastern Washington University). Mine records and historical drilling indicate that mineralization remains open to depth and along strike. Notably, drill hole 1501-A intersected 22 feet (true width not known) of high-grade polymetallic mineralization at approximately 1,425 feet, confirming continuity below the deepest historic workings.

CMX is continuing its fundraising efforts through a non-brokered private placement of $0.25 units, each comprised of one share and one share purchase warrant exercisable at $0.40 per share for two years from closing. The offering is subject to the approval of the Canadian Securities Exchange and is subject to the Canadian Securities Exchange’s National Instrument 45-102 (Resale of Securities).

The comprehensive geophysical program covers the historic mine and surrounding structures, comprised of a 3DIP survey and a Magnetotelluric (MT) survey. These surveys are intended to delineate known and identify new vein structures, identify extensions of partially mined ore bodies, and evaluate deeper potential sources of mineralization, with follow-up diamond drilling planned to test priority targets. The Clayton Silver Property is CMX’s 100%-owned flagship asset, located in the Bayhorse Mining District of central Idaho, approximately 30-40 kilometers south-southwest of Challis. The property comprises a 1,028-acre land package, including 29 patented mining claims and two patented mill sites (approximately 562 acres) and 20 unpatented claims (approximately 466 acres). The patented claims provide surface ownership rights, carry no government royalties, and do not require drilling permits.

Technical and scientific information in this news release was reviewed and approved by Richard Walker, M.Sc. (Geology), P.Geo., Vice President, Exploration of CMX, who is 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.