Canamex Resources Corp.
TSX VENTURE : CSQ
OTCQX : CNMXF
FRANKFURT : CX6

Canamex Resources Corp.

July 18, 2012 08:00 ET

Canamex Intersects 360 Feet of 0.119 Oz/Ton Gold (118 Meters of 4.08 G/Tonne) Including 5 Feet of 3.864 Oz/Ton (1.6 Meters of 132.5 g/t) at Bruner Gold Project, Nevada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 18, 2012) - Canamex Resources Corp. (TSX VENTURE:CSQ)(OTCQX:CNMXF)(FRANKFURT:CX6) is very pleased to announce what is believed to be the best intercept ever drilled at the Bruner Gold Project, Nye County, Nevada. Drill hole B-1201 intersected 360 feet grading 0.119 oz/ton (118.11 meters of 4.08 gpt) Au between 290-650 feet, including 5 feet grading 3.864 oz/ton (1.64 meters of 132.5 gpt) Au between 455-460 feet. In addition, the drill hole intersected 55 feet grading 0.045 opt Au between 180-235 feet located above the thicker and higher-grade 360 foot intercept. Mineralization at this depth could be accessible by open pit.

Highlights of the First Hole of the 2012 Summer Drilling Program

The intercept in B-1201 is comprised of multiple chalcedonic and quartz veinlets, breccias with varied clast types, and strong iron oxides and clays. It is completely oxidized to the total depth of 820 feet. The mineralized zone appears to be steeply dipping and roughly 200 feet wide (true width). The drill intercepts are summarized in the following table, and the complete table of results appears at the end of this release.

Hole From
(ft)
To
(ft)
Thickness
(ft)
Au grade
(oz/ton)
Au grade
(g/tonne)
B-1201 290 650 360 0.119 4.08
Including: 290 315 25 0.159 5.45
385 410 25 0.121 4.15
435 485 50 0.512 17.56
Including: 455 460 5 3.864 132.5

The high-grade intercept at 455-460 feet is being re-assayed to verify the gold and silver values.

CEO Greg Hahn Comments

Chairman and CEO Greg Hahn comments, "This drill hole intercept opens up a new exploration area and deposit type within the Bruner property. The grade and thickness exceed anything in the historical data base or drilled previously by the Company, and indicates the potential for a deposit of significant size and grade may be present on the property. The intercept is open in almost all directions, and the presence of high gold values, breccias, and hydrothermal quartz and textures indicates a very robust hydrothermal system is represented by the intercepts in drill hole B-1201."

Six Hole 2012 Summer Drilling Program

A total of six holes were drilled in this summer's drilling campaign, each targeted to intersect the heart of the mineralized zone roughly 100 feet distant from the other. Results from these holes will be announced as they are received and are expected to be released on a one-a-week basis going forward.

Column Leach Tests

Meanwhile column leach tests continue on the bulk sample from the historic resource area on the Bruner property where gold extractions have achieved 81% and 76% on -3/4" and -3" crush material respectively in 40 days, based upon bottle roll cyanide leach and calculated head grade analyses, and leaching of gold in both columns continues.

Quality Control

Drill samples were transported by a third party consulting geologist from the drill rig and stored in a locked storage unit and retrieved by ALS-Chemex personnel, transported in their custody to the ALS-Chemex laboratory in Reno/Sparks, Nevada, where they were dried, crushed, and split, and representative splits sent to the ALS-Chemex laboratory in Vancouver for gold and silver analyses. Duplicates, blanks, and standards were inserted at regular intervals for QA/QC purposes.

Greg Hahn, Certified Professional Geologist (#7122) is the Qualified Person who has prepared and reviewed this press release in accordance with NI 43-101 reporting standards.

ON BEHALF OF THE BOARD

Gregory A. Hahn, Chairman and CEO

Forward-Looking Statements:

This note contains forward-looking statements regarding future events and Canamex's future results. These statements are based on current expectations, estimates, forecasts, and projections about the industry in which Canamex operates and the beliefs and assumptions of Canamex's management. Words such as "expects", "anticipates", "targets", "goals", "projects", "intends", "plans", "believes", "seeks", "estimates", "continues", "may", variations of such words, and similar expressions, are intended to identify such forward-looking statements. In addition, any statements that refer to projections of Canamex's future financial performance, Canamex's anticipated growth and potentials in its business and other characterizations of future events or circumstances are forward-looking statements. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict, including those identified elsewhere herein and Canamex's filings on www.sedar.com. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Canamex undertakes no obligation to revise or update any forward-looking statements for any reason.

HOLE FROM
(ft)
TO
(ft)
INT
(ft)
Au
(ppm)
Au
(rerun)
Au
(opt)
Ag
(ppm)
Ag
(rerun)
Ag
(opt)
B-1201 0 5 5 NS NS NS NS NS
B-1201 5 10 5 NS NS NS NS NS
B-1201 10 15 5 NS NS NS NS NS
B-1201 15 20 5 NS NS NS NS NS
B-1201 20 25 5 0.006 0.000 <0.5 0.00
B-1201 25 30 5 0.012 0.000 0.50 0.01
B-1201 30 35 5 0.007 0.000 0.50 0.01
B-1201 35 40 5 0.011 0.000 0.50 0.01
B-1201 40 45 5 0.006 0.000 <0.5 0.00
B-1201 45 50 5 <0.005 0.000 <0.5 0.00
B-1201 50 55 5 <0.005 0.000 <0.5 0.00
B-1201 55 60 5 0.005 0.000 <0.5 0.00
B-1201 60 65 5 <0.005 0.000 <0.5 0.00
B-1201 65 70 5 <0.005 0.000 <0.5 0.00
B-1201 70 75 5 <0.005 0.000 <0.5 0.00
B-1201 75 80 5 <0.005 0.000 <0.5 0.00
B-1201 80 85 5 <0.005 0.000 <0.5 0.00
B-1201 85 90 5 <0.005 0.000 <0.5 0.00
B-1201 90 95 5 <0.005 0.000 <0.5 0.00
B-1201 95 100 5 <0.005 0.000 <0.5 0.00
B-1201 100 105 5 <0.005 0.000 <0.5 0.00
B-1201 105 110 5 <0.005 0.000 <0.5 0.00
B-1201 110 115 5 <0.005 0.000 0.60 0.02
B-1201 115 120 5 0.007 0.000 0.90 0.03
B-1201 120 125 5 0.100 0.003 2.60 0.08
B-1201 125 130 5 0.077 0.002 1.40 0.04
B-1201 130 135 5 0.458 0.013 2.10 0.06
B-1201 135 140 5 0.098 0.003 4.70 0.14
B-1201 140 145 5 0.156 0.005 6.70 0.20
B-1201 145 150 5 0.055 0.002 10.90 0.32
B-1201 150 155 5 0.491 0.014 15.70 0.46
B-1201 155 160 5 0.321 0.009 12.00 0.35
B-1201 160 165 5 0.046 0.001 7.20 0.21
B-1201 165 170 5 0.104 0.003 8.30 0.24
B-1201 170 175 5 0.053 0.002 7.10 0.21
B-1201 175 180 5 0.125 0.004 9.20 0.27
B-1201 180 185 5 0.636 0.019 8.90 0.26
B-1201 185 190 5 1.545 0.045 9.10 0.27
B-1201 190 195 5 4.270 0.125 5.90 0.17
B-1201 195 200 5 2.290 0.067 3.70 0.11
B-1201 200 205 5 0.319 0.009 3.50 0.10
B-1201 205 210 5 3.890 0.113 14.20 0.41
B-1201 210 215 5 0.686 0.020 5.40 0.16
B-1201 215 220 5 0.983 0.029 5.40 0.16
B-1201 220 225 5 0.711 0.021 3.90 0.11
B-1201 225 230 5 0.141 0.004 3.30 0.10
B-1201 230 235 5 1.555 0.045 8.00 0.23
B-1201 235 240 5 0.164 0.005 3.90 0.11
B-1201 240 245 5 NS
B-1201 245 250 5 0.092 0.003 7.30 0.21
B-1201 250 255 5 0.089 0.003 10.30 0.30
B-1201 255 260 5 0.154 0.004 4.80 0.14
B-1201 260 265 5 0.048 0.001 6.30 0.18
B-1201 265 270 5 0.060 0.002 2.50 0.07
B-1201 270 275 5 0.259 0.008 3.00 0.09
B-1201 275 280 5 0.121 0.004 5.00 0.15
B-1201 280 285 5 0.247 0.007 6.30 0.18
B-1201 285 290 5 0.063 0.002 3.80 0.11
B-1201 290 295 5 3.190 0.093 5.40 0.16
B-1201 295 300 5 0.076 0.002 7.90 0.23
B-1201 300 305 5 >10.0 11.75 0.343 64.50 1.88
B-1201 305 310 5 6.390 0.186 92.20 2.69
B-1201 310 315 5 5.780 0.169 32.40 0.94
B-1201 315 320 5 1.010 0.029 47.30 1.38
B-1201 320 325 5 1.440 0.042 10.70 0.31
B-1201 325 330 5 1.270 0.037 9.40 0.27
B-1201 330 335 5 0.405 0.012 6.30 0.18
B-1201 335 340 5 0.167 0.005 20.30 0.59
B-1201 340 345 5 0.532 0.016 5.60 0.16
B-1201 345 350 5 0.074 0.002 8.20 0.24
B-1201 350 355 5 0.186 0.005 10.70 0.31
B-1201 355 360 5 0.250 0.007 7.70 0.22
B-1201 360 365 5 0.255 0.007 10.10 0.29
B-1201 365 370 5 0.458 0.013 7.70 0.22
B-1201 370 375 5 0.101 0.003 4.10 0.12
B-1201 375 380 5 1.390 0.041 6.30 0.18
B-1201 380 385 5 2.050 0.060 15.50 0.45
B-1201 385 390 5 >10.0 10.85 0.316 16.80 0.49
B-1201 390 395 5 0.692 0.020 7.30 0.21
B-1201 395 400 5 1.670 0.049 15.00 0.44
B-1201 400 405 5 4.100 0.120 3.90 0.11
B-1201 405 410 5 3.480 0.101 3.00 0.09
B-1201 410 415 5 0.143 0.004 2.80 0.08
B-1201 415 420 5 1.635 0.048 3.70 0.11
B-1201 420 425 5 0.711 0.021 6.50 0.19
B-1201 425 430 5 0.114 0.003 4.50 0.13
B-1201 430 435 5 0.442 0.013 5.40 0.16
B-1201 435 440 5 5.030 0.147 15.40 0.45
B-1201 440 445 5 3.940 0.115 8.10 0.24
B-1201 445 450 5 1.585 0.046 <0.5 0.00
B-1201 450 455 5 8.090 0.236 16.90 0.49
B-1201 455 460 5 >10.0 132.5 3.864 >100 142 4.14
B-1201 460 465 5 >10.0 9.96 0.290 27.50 0.80
B-1201 465 470 5 5.780 0.169 13.70 0.40
B-1201 470 475 5 3.710 0.108 7.30 0.21
B-1201 475 480 5 1.650 0.048 7.80 0.23
B-1201 480 485 5 3.470 0.101 6.60 0.19
B-1201 485 490 5 0.717 0.021 4.10 0.12
B-1201 490 495 5 1.470 0.043 19.30 0.56
B-1201 495 500 5 0.691 0.020 2.70 0.08
B-1201 500 505 5 0.454 0.013 3.40 0.10
B-1201 505 510 5 0.146 0.004 1.20 0.03
B-1201 510 515 5 0.417 0.012 2.20 0.06
B-1201 515 520 5 0.175 0.005 1.00 0.03
B-1201 520 525 5 0.094 0.003 0.90 0.03
B-1201 525 530 5 0.106 0.003 0.90 0.03
B-1201 530 535 5 1.230 0.036 2.00 0.06
B-1201 535 540 5 0.105 0.003 1.90 0.06
B-1201 540 545 5 0.874 0.025 2.40 0.07
B-1201 545 550 5 7.700 0.225 2.60 0.08
B-1201 550 555 5 0.573 0.017 2.60 0.08
B-1201 555 560 5 0.725 0.021 3.20 0.09
B-1201 560 565 5 1.200 0.035 6.30 0.18
B-1201 565 570 5 0.905 0.026 2.90 0.08
B-1201 570 575 5 0.581 0.017 2.50 0.07
B-1201 575 580 5 3.370 0.098 6.30 0.18
B-1201 580 585 5 1.890 0.055 3.10 0.09
B-1201 585 590 5 6.410 0.187 3.60 0.10
B-1201 590 595 5 2.470 0.072 5.40 0.16
B-1201 595 600 5 0.514 0.015 4.60 0.13
B-1201 600 605 5 0.742 0.022 3.00 0.09
B-1201 605 610 5 0.136 0.004 3.10 0.09
B-1201 610 615 5 0.364 0.011 4.70 0.14
B-1201 615 620 5 0.500 0.015 1.80 0.05
B-1201 620 625 5 0.844 0.025 3.10 0.09
B-1201 625 630 5 1.285 0.037 2.80 0.08
B-1201 630 635 5 >10.0 12.8 0.373 4.50 0.13
B-1201 635 640 5 6.300 0.184 2.90 0.08
B-1201 640 645 5 1.290 0.038 2.00 0.06
B-1201 645 650 5 0.487 0.014 1.50 0.04
B-1201 650 655 5 0.115 0.003 1.50 0.04
B-1201 655 660 5 0.120 0.003 1.50 0.04
B-1201 660 665 5 0.071 0.002 2.40 0.07
B-1201 665 670 5 0.084 0.002 2.40 0.07
B-1201 670 675 5 0.039 0.001 1.50 0.04
B-1201 675 680 5 0.028 0.001 1.10 0.03
B-1201 680 685 5 0.020 0.001 4.10 0.12
B-1201 685 690 5 0.057 0.002 1.90 0.06
B-1201 690 695 5 0.090 0.003 2.10 0.06
B-1201 695 700 5 0.428 0.012 3.70 0.11
B-1201 700 705 5 0.237 0.007 2.00 0.06
B-1201 705 710 5 0.177 0.005 1.90 0.06
B-1201 710 715 5 0.232 0.007 1.70 0.05
B-1201 715 720 5 1.195 0.035 2.60 0.08
B-1201 720 725 5 0.426 0.012 2.20 0.06
B-1201 725 730 5 0.623 0.018 1.80 0.05
B-1201 730 735 5 0.208 0.006 1.40 0.04
B-1201 735 740 5 0.134 0.004 1.50 0.04
B-1201 740 745 5 0.254 0.007 1.00 0.03
B-1201 745 750 5 0.261 0.008 0.70 0.02
B-1201 750 755 5 0.085 0.002 0.70 0.02
B-1201 755 760 5 0.066 0.002 1.50 0.04
B-1201 760 765 5 0.237 0.007 2.40 0.07
B-1201 765 770 5 0.136 0.004 1.80 0.05
B-1201 770 775 5 0.130 0.004 1.80 0.05
B-1201 775 780 5 0.141 0.004 2.90 0.08
B-1201 780 785 5 0.142 0.004 3.30 0.10
B-1201 785 790 5 0.097 0.003 3.80 0.11
B-1201 790 795 5 0.096 0.003 4.70 0.14
B-1201 795 800 5 0.094 0.003 7.00 0.20
B-1201 800 805 5 0.081 0.002 6.60 0.19
B-1201 805 810 5 0.098 0.003 5.80 0.17
B-1201 810 815 5 0.154 0.004 5.40 0.16
B-1201 815 820 5 0.100 0.003 4.50 0.13

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information