CMX warrants exercised, offering update

    Calgary, Alberta – July 2, 2026 – TheNewswire - CMX Gold & Silver Corp. ("CMX" or the “Company”) (CSE: CXC; OTC: CXXMF) announces that on June 30, 2026, shareholders exercised warrants to acquire 3,500,000 common shares of CMX at $0.10 per share. The Company understands that the shares have been acquired for long-term investment purposes.  Insiders exercised 2,000,000 warrants.  Warrants for 1,100,000 shares were exercised by the settlement of $110,000 of debt.  The cash proceeds of $240,000 will be applied to working capital and used for the work program scheduled for the Clayton Silver Project in Idaho, USA.  Jan Alston, CEO of CMX, stated “The enduring support of our shareholders has positioned the Company to benefit from the silver bull market, which in our view is still in its early stages.  We are excited about becoming active on the Clayton property and testing its significant potential.” On or about July 8, 2026, CMX will close the first tranche of its previously announced non-brokered private placement financing.  The offering is for up to $2,000,000 (the “Offering”).  The Company expects to close the next tranche later in July.   The Offering is comprised of up to 8,000,000 units (“Units”) at $0.25 per Unit with each Unit consisting of one Share in the capital of the Company and one Warrant.  Each Warrant is exercisable for one Share at a price of $0.40 per share within 24 months of the closing of the Offering.  Proceeds from the Offering will be used for a geophysical survey and an initial diamond drilling program on CMX’s Clayton Silver Project in Idaho, U.S.A. The Units will be sold to “accredited investors” and other exempt parties pursuant to exemptions from prospectus requirements under Canadian securities laws.  The Company may pay finders’ fees to third parties in connection with the Offering.  Securities issued under the Offering are subject to restrictions on resale for a period of four months and a day from the date of closing.

The Clayton Silver Property The Clayton Silver Project 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. Beginning in August 2026, CMX plans to conduct a comprehensive geophysical program over the historic mine and surrounding structures, including a 3-D Direct Current Induced Polarization (DCIP) survey and a Magnetotelluric (MT) survey.  These surveys are intended to delineate known structures, identify extensions of partially mined ore bodies, and evaluate deeper sources of mineralization, with follow-up diamond drilling planned to test priority targets. The Clayton Silver Mine operated from 1935 to 1986 and was one of the most active underground mines in the district.  Recorded production totaled approximately 7.0 million ounces of silver, along with lead, zinc, copper, and minor gold, from an estimated 2.15 million tonnes of ore.  Underground development reached eight levels to 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.