Canex Metals Inc. Strikes Option Agreement for Copper-Gold Porphyry in British Columbia

CANEX Metals Inc. has announced its entry into an option agreement for an advanced copper-gold porphyry deposit in British Columbia, signaling an optimistic exploration and development future. This project, known as the Louise copper-gold porphyry, showcases a promise with its low upfront cost option agreement and a 100% interest potential for CANEX. The Louise project, accessible by road, harbors a substantial historic resource of copper, gold, and molybdenum, having been only minimally explored at shallow depths.

Significant highlights from previous drilling endeavors reveal strong copper and gold indicators, including standout intercepts such as 0.41% copper and 0.40 g/t gold over 158 meters. With the management and board's vast experience in exploring porphyry deposits across North America, CANEX anticipates leveraging these insights for the Louise Project’s advancement. The project’s strategic location in a mining-friendly zone, combined with its historic inferred and indicated resource base, positions it as a valuable asset for exploration upside.

Key to the Louise Project's exploration plan is the compilation and analysis of its extensive historical data. This preparatory work aims to inform a more detailed exploration strategy moving forward. No drilling has occurred on the property since 2008, highlighting the untapped potential of this copper-gold porphyry system. CANEX's agreement outlines progressive payment terms over five years, without mandatory expenditure commitments, allowing for adaptable project advancement.