CMX Gold & Silver Corp. announced that testing of samples taken from the Clayton Mine Stockpile is nearing completion. The testing was undertaken with no upfront cost to CMX pursuant to the agreement with Sulphide Remediation Inc. announced on May 31, 2022.

Under SRI's supervision, 600 kilograms of materials were collected from nine locations on the mine stockpile located adjacent to the old Clayton Silver Mine. These locations were the same as the locations used by the Company for its 2014/15 stockpile sampling program. Approximately 536 kilograms were shipped to Sydney, Australia for testing in TOMRA's ore-sorting laboratory facility.

TOMRA is a world-leader in precision ore sorting technology used to high-grade mine stockpiles of unprocessed rock to enhance the grade of material delivered to a mill. Dual Energy X-Ray Transmission technologies differentiate between rocks based on small fluctuations in density profiles and are effective at removing sulphides and concentrating valuable metals. The sorted rock can be treated at existing mills/smelters where valuable metals will be extracted and sulphides will be safely handled.

SRI has some of the experts in crushing, screening and ore sorting. The Company's historic Clayton Silver Mine stockpile is estimated to contain up to 1,000,000 tonnes of metal- bearing rock. In the 2014/15 evaluation program, over 3,000 kilograms of sample material were collected from 16 locations selected to ensure representative results.

Analysis of the samples confirmed the presence of gold in each sample. In particular, assays confirmed gold values up to 2.84 gm/t with an average of 0.80 gm/t for the 16 locations sampled. Statistical averages of the 16 locations of the mine stockpile sampling program were: gold - 0.80 gms/t; silver - 24.31 gms/t; lead - 0.44%; zinc - 0.27%.

Subject to positive results from analysis of the samples taken from the stockpile and confirmation of suitability of the material for the ore sorting process, SRI at its cost will construct and deliver an optimal ore sorting system to the Clayton Mine site. The system will be capable of processing from 3,000 tonnes to 4,000 tonnes per day. SRI will manage all aspects of the stockpile processing program.

After deducting operating expenses from the revenue received for the processed stockpile material from the toll mill or smelter, the net profits will be shared 50:50 between CMX and SRI.