CMX Set For Major 2026 Geophysical Survey And Drill Program On Historic Clayton Silver Mine

(TheNewswire)

Calgary, Alberta – November 17,2025 – TheNewswire - CMX Gold & Silver Corp.("CMX" or the “Company”) (CSE: CXC) announces its plan to conduct a spring 2026 geophysicalsurvey on its 100%-owned Clayton Silver Project located approximately40 km southwest of Challis in Custer County, south-central Idaho,U.S.A.  The nearest community is Clayton, located approximately 2.5km to the south on Highway 75 along the Salmon River.

The Company’s plans for exploration programs in 2026and extending over the next several years are focused on assessing theresource potential within the former mine.  Mineralization is hostedwithin structures as documented in historical partially mined sectionsand remains open along strike and to depth.  The Company also intendsto expand exploration to determine potential for additionalmineralized zones in adjacent structures within the vein system. This will entail detailed geophysical work and multiple drillprograms.

ClaytonExploration Plans

CMX has determined that very little geophysics andexploration diamond drilling was done on the property historically. Jan Alston, President and CEO of CMX, stated: “Modern geophysicaltechniques will provide a better understanding of the undergroundpotential compared to forty years ago when the mine was last inproduction.”  Therefore, the 2026 program will comprise initialcollection of geophysical data over the former mine workings, as wellas adjacent to and along the strike of the host vein system.

The geophysical survey will be on CMX’s patentedmining claims to delineate known structures and identify potential newore bodies within, below and adjacent to existing undergroundworkings.  The survey will provide detailed subsurface data withwhich to strategically identify diamond drilling targets.  Theprogram will include a 3-D Direct Current Induced Polarization Survey(DCIP) for relatively shallow anomalies, targeting depths fromapproximately 650 feet (200 m) to 2,300 feet (700 m), and aMagnetotelluric Survey (MT) that will provide data to evaluate deeperpotential down to at least 6,000 feet (1,830 m).  Thedeep-penetrating MT survey has the potential to model and identify theresistivity signature of the primary source of mineralization.

Based upon interpretation of the resulting geophysicaldata, the Company plans to conduct a diamond drilling program testingpriority targets identified by the geophysical survey, some of whichare expected to represent extensions of historical ore bodies thatwere only partially mined.  Mr. Alston commented: “The excitingpotential to expand the resource base of the Clayton Silver Mine isderived from our knowledge that very little exploration was evercarried out on the property adjacent to the mine and along the hostvein system.  The former operators of the mine followed the knownvein, which produced ample ore for the small mill that processedbetween 250 to 350 tons per day of material.  There was no need forthem to look for other vein systems or build a larger resourcepicture.” Mr. Alston continued: “However, for this type ofcarbonate replacement deposit, the probabilities of discoveringadjacent parallel ( enechelon ) and deeper veinsystems are significantly favorable.  When looking at the biggerpicture, CMX’s goal is to prove up resources that could potentiallybe many times what was mined historically.  Furthermore, if we canidentify additional mineralization within the vein system, that couldpotentially transition the Clayton Silver Mineinto a world class top tier silver mining asset.”

Over the past decade, management of CMX held offspending capital on the project pending a positive change in commoditymarkets.  Mr. Alston explained: “We wanted to avoid unnecessarydilution to our shareholders and waited to see confirmation that thebull market for silver was firmly underway.  Now is the time toaggressively invest capital to maximize shareholder value.  Systemicsupply issues in global silver markets have positively impacted theprice in 2025.  The demand-supply deficit over the past five yearshas used up a significant proportion of above-ground inventories. Industrial demand for silver has been surging for several years,particularly for production of solar panels.  There is no quick fixfor the supply shortfall, as 70% of world silver production is abyproduct of mines for other metals, and industry is unable to bringnew mines into production rapidly to fill the gap.”

MarketingAwareness Program

Given the structural supply deficit in the globalsilver market, CMX believes now is the opportune time to driveinvestor awareness of the strategic significance of the Clayton SilverProperty.  Under the guidance of CMX’s financial consultants, theCompany has commenced a marketing awareness program, includingbuilding a following on social media.  As part of this effort, CMXwill be conducting informational meetings with high net-worthinvestors who have not heard about the tremendous potential of theClayton Silver Property.

The Clayton SilverProperty

The Clayton Silver Property is located in themining-friendly State of Idaho, USA.  The property comprises patentedand unpatented claims aggregating approximately 1,028 acres (416hectares) in Custer County in south-central Idaho, including theformer Clayton silver-lead-zinc mine.  The Clayton Silver Mine wasdeveloped on eight levels to a relatively shallow depth of 1,100 feetbelow surface.  Two ore bodies were partially mined: the “South OreBody” and the “North Ore Body”.

The Clayton property’s significant potential isdemonstrated in hole 1501-A, drilled in the mid-1960’s, whichpenetrated the mineralized zone at 1,425 feet (434 m), approximately300 feet (91 m) below the deepest workings.  At that depth, the holeintercepted 22 feet (6.7 m) of  high-grade, polymetallic zone grading4.07 oz Ag/t, 5.75% lead and 5.37% zinc (note: true width isuncertain), confirming the potential of the ore body to extend belowthe historic workings.

Recorded production from the Clayton Mine includedapproximately 7 million ounces Ag, along with significant amounts ofby-products lead, zinc, and copper from an estimated 2.15 milliontonnes of ore mined between 1934 and 1985 (Hillman, Bob, M.S. Thesis,June 26, 1986, Eastern Washington University).  Given that there areno records for the first decades of production, combined with gaps inthe historical production records, CMX believes it is reasonable toassume that actual mine tonnage was significantly greater than thereported 2.15 million tonnes, suggesting a substantial unrecordedresource base.

The CSE has not reviewed and does notaccept responsibility for the adequacy or accuracy of this newsrelease.

For further information contact: Robert d’Artois,Investor Relations at (604) 329-0845 bobdartois@cmxgoldandsilver.com or JanM. Alston, President & C.E.O. at (403) 457-2697 janalston@cmxgoldandsilver.com .

You can also visit the Company’s Website: www.cmxgoldandsilver.com

This news release does not constitute an offer to sellor a solicitation of an offer to buy any of the securities in theUnited States. The securities have not been and will not be registeredunder the United States Securities Act of 1933, as amended (the"U.S. Securities Act"), or any state securities laws and maynot be offered or sold within the United States or to U.S. Personsunless registered under the U.S. Securities Act and applicable statesecurities laws or an exemption from such registration is available.

Cautionary Statement RegardingForward-Looking Information

Certain information contained in this news releaseconstitutes “forward-looking information” or “forward-lookingstatements” (collectively, “forward-looking information”).Without limiting the foregoing, such forward-looking informationincludes statements regarding the process and completion of theOffering, the use of proceeds of the Offering and any statementsregarding the Company’s business plans, expectations and objectives. In this news release, words such as “may”, “would”,“could”, “will”, “likely”, “believe”, “expect”,“anticipate”, “intend”, “plan”, “estimate” and similarwords and the negative form thereof are used to identifyforward-looking information.  Forward looking information should notbe read as guarantees of future performance or results, and will notnecessarily be accurate indications of whether, or the times at or bywhich, such future performance will be achieved.  Forward-lookinginformation is based on information available at the time and/or theCompany management’s good faith belief with respect to future eventsand is subject to known or unknown risks, uncertainties, assumptionsand other unpredictable factors, many of which are beyond theCompany’s control.  For additional information with respect tothese and other factors and assumptions underlying the forward-lookinginformation made in this news release, see the Company’s most recentManagement’s Discussion and Analysis and financial statements andother documents filed by the Company with the Canadian securitiescommissions and the discussion of risk factors set out therein.  Suchdocuments are available at www.sedarplus.ca under theCompany’s profile and on the Company’s website, https://cmxgoldandsilver.com/home .   The forward-looking information set forth hereinreflects the Company’s expectations as at the date of this newsrelease and is subject to change after such date. The Companydisclaims any intention or obligation to update or revise anyforward-looking information, whether as a result of new information,future events or otherwise, other than as required by law.

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