CMX closes first tranche of offering

    Calgary, Alberta – TheNewswire - July 9, 2026 -- CMX Gold & Silver Corp. ("CMX" or the “Company”) (Canadian Securities Exchange: CXC) is pleased to announce that it has completed the first tranche of the non-brokered private placement (the "Offering") described in its previous news releases, most recently on July 2, 2026.  The Company issued an aggregate of 3,640,000 units (the "Units") at a price of $0.25 per Unit for gross proceeds of $910,000. Each Unit consists of one common share in the capital of the Company (a “Share”) and one non-transferable common share purchase warrant (a “Warrant”).  Each Warrant is exercisable to acquire one Share at an exercise price of $0.40 per Share until July 7, 2028, which is 24 months from the date of issuance. The proceeds 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 “This funding is critical for initiating a significant geophysical survey over the Company’s patented and unpatented claims on its Clayton property.

To the knowledge of CMX, no geophysics were previously conducted over the mine property.  The results from the survey are expected to provide quality diamond drilling targets on and adjacent to the known vein system that was historically mined for over 60 years.”  Mr. Alston added “With strong silver prices that are expected to exist for many years, the timing for CMX couldn’t be better.” The Offering is 8,000,000 Units for up to $2,000,000.  The Units are being sold to “accredited investors” and other exempt parties pursuant to exemptions from prospectus requirements under Canadian securities laws.  The Company expects to close the next tranche in a few weeks.   Fees of $29,000 were paid and 116,000 finders’ warrants were issued to certain finders in connection with the first tranche. Each finder's warrant entitles the holder thereof to purchase one additional Share at a price of $0.40 for a period of 24 months following the date of issuance.

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. Commencing September 7, 2026, a comprehensive geophysical program will be conducted 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.