CANEX reports surface gold results at Gold Basin and Gold Range, Arizona

CONFIRMS ADDITIONAL LARGE EXPLORATION TARGETS FOR DRILL PERMITTING CALGARY, AB / ACCESS Newswire / June 17, 2026 / CANEX Metals Inc. ("CANEX" or the "Company") is pleased to announce surface exploration results from a recent due diligence surface exploration program designed to verify historic work, identify new exploration targets, and support exploration permitting efforts currently in progress. During the program 98 surface chip samples and 135 soil samples were collected focusing on large undrilled exploration targets located between the Cyclopic deposit and the WestGold target. Highlights: Rock and soil sampling results confirm multiple large mineralized targets that have never been drill tested Chip sampling at Ring Bear returned 2.54 g/t gold over 13 metres including 6.46 g/t gold over 2 metres .

The Ring Bear target has been traced over an area 300 by 450 metres Chip sampling at Golden Chalice returned 14.83 g/t gold over 1 metre, 6.46 g/t gold over 1.3 metres, and 1.53 g/t gold over 10 metres . Mineralization at Golden Chalice has been traced over a strike length of 500 metres within a 400 by 700 metre gold-in-soil anomaly Chip sampling at West Chalice returned 12.15 g/t gold over 2.7 metres. The West Chalice target has been identified over a 300 by 500 metre area These newly identified targets sit within an 8 kilometre long trend of oxide gold zones containing favorable gold grades Drill permitting is being advanced and exploration planning is underway The 2026 surface exploration program has confirmed 3 large exploration targets located between the Cyclopic deposit and the WestGold target.

These are Ring Bear, Golden Chalice, and West Chalice, and all 3 will be included in a drill permit application that CANEX is currently preparing. None of these targets have been drill tested previously. CANEX is preparing an exploration permit application for the Cy