QMX GOLD REPORTS 101.0 METRES OF 2.31 G/T GOLD, INCLUDING 13.5 METRES OF 9.99 G/T GOLD IN THE PLUG AND 4.0 METRES OF 8.92 G/T GOLD IN THE SHEARS AT BONNEFOND

TORONTO, April 08, 2020 (GLOBE NEWSWIRE) -- QMX Gold Corporation (“QMX” or the “Company”) (TSX:V:QMX) is pleased to release additional assay results from the infill drilling program at the Bonnefond deposit (Table 1). The Bonnefond deposit is located in the Val d’Or East Zone of QMX’s extensive land package in Val d’Or, Quebec (Figure 1).

Highlights include (Grades are uncut; lengths are measured along the holes, Table 1):

• DDH 17315-19-074 (extension) returned 8.92 g/t Au over 4.0m in a shear zone.
• DDH 17315-19-098 returned 2.31 g/t Au over 101.0m in the tonalite, including 9.99 Au over 13.5m.
• DDH 17315-19-099 returned 2.23 g/t over 36.0m in the tonalite, and 3.46 g/t Au over 4.5m in a shear zone.

The following results are part of the infill drilling program on the Bonnefond tonalitic intrusive and on shear zones located to the south of the tonalite. One of the four holes reported was an extension of an earlier drill hole, DDH 17315-19-074 (please refer to the Company’s news release dated May 29, 2019).

“Our flagship project has yet again impressed us with excellent grade over several metres,” says Dr. Andreas Rompel, Vice President Exploration of the Company “and we will continue to enlarge the area of the Bonnefond resource and subsequently the ounces within the resource. Our endeavour to target the auriferous shears and contacts has been highly successful as a result of our advanced understanding of the structural nature of the mineralization processes.”

The four drill holes are located in the central part of the Bonnefond deposit. Drill holes 17315-19-086, 099 and 074 were drilled on a North-South orientation while 17315-19-098 was drilled across the tonalitic intrusion in an E-W direction, (Figure 2).

Holes 17315-19-086 and 099 drilled through the tonalitic intrusion and intersected mineralization grading 1.23 g/t Au over 82.1 m and 2.23 g/t Au over 36.0 m respectively. South of the intrusive, the holes tested the Bijou shear. Mineralization in the shear graded 1.60 g/t Au over 8.5 m and 3.09 g/t Au over 3.0 m respectively. Hole 17315-19-099 also intersected 3.46 g/t Au over 4.5 m and 3.77 g/t Au over 4.0 m in two additional shear zones located between the intrusive and the Bijou shear.

Hole 17315-19-074 was initially drilled to complete the drilling pattern in the Bonnefond pit shell. The hole was extended to explore the shear zones between the intrusive and Bijou Shear. One of these shear zones returned 8.92 g/t Au over 4.0m.

Hole 17315-19-098 was drilled East-West across the tonalitic body to locate the exact position of the eastern contact of the intrusive. The hole crosses the trend of most drill holes completed to date. The hole returned 2.31g/t Au over 101m in the tonalite, including an enriched zone with 9.99g/t Au over 13.5m.

Table 1: Highlights from the Bonnefond Deposit

* Reported length measured along the hole.
** Au uncut

Figure 1: QMX’s extensive and target-rich land package
https://www.globenewswire.com/NewsRoom/AttachmentNg/71a02fb0-e4fb-453d-9743-87a66f994600

Figure 2: Results from DDH 86; 98; 99 and 74 Extension- Bonnefond Deposit
https://www.globenewswire.com/NewsRoom/AttachmentNg/374264b6-5ece-48ea-9881-96b7d06f1469

Current Activities

As reported in the press release dated March 24^th, 2020, QMX temporarily suspended fieldwork activities on its Val d’Or East project in line with the Quebec Government’s guidance. QMX’s exploration team was prepared for this development and is using this period to advance 3D modelling, targeting and historical data compilation activities remotely. The Company is in a very strong financial position and once the work stoppage is lifted by the Quebec government and it is safe for our staff and consultants to return to the field, QMX will be well prepared to quickly resume its drilling activities.

As previously reported, QMX increased its drilling activities in late February which allowed it to complete the planned 14,400m winter infill drilling program on the Bonnefond deposit. QMX has prepared an additional 6,000m exploration program to the east and west of Bonnefond, which it will initiate once it is safe to restart fieldwork in the area.

QMX has donated its inventory of masks, Tyvek suits, and gloves to the local area hospital.

Quality Control

During the drilling program, assay samples were taken from the NQ core and sawed in half. One half is sent to Swaslab Ltd. and the other half to AGAT Laboratories. Both are certified commercial laboratories. The other half of the core is retained for future reference. A strict quality assurance and quality control program was applied to all samples, which included insertion of mineralized standards, blank samples and duplicates inside each batch of 20 samples. The gold analyses were completed by fire-assay with an atomic absorption finish on 50 grams of material. Repeats were carried out by fire-assay with a gravimetric finish on each sample containing 5.0 g/t Au or more. The gold analyses were undertaken by fire-assay on 50 grams of pulp with an atomic absorption finish. Repeats were carried out by fire-assay with a gravimetric finish on each sample containing 5.0 g/t Au or more. 

Qualified Persons

The scientific and technical content of this press release has been reviewed, prepared and approved by Mélanie Pichon, P.Geo, M.Sc, Exploration Manager, who is a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").

About QMX Gold Corporation

QMX Gold Corporation is a Canadian based resource company traded on the TSX Venture Exchange under the symbol “QMX”. The Company is systematically exploring its extensive property position in the Val d’Or mining camp in the Abitibi District of Quebec. QMX is currently drilling in the Val d’Or East portion of its land package focused on the Bonnefond plug and in and around the Bevcon Intrusive. In addition to its extensive land package QMX owns the strategically located Aurbel gold mill and tailings facility.

Cautionary Note Regarding Forward-Looking Information:

This press release contains or may be deemed to contain “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding future plans, operations and activities, projected mineralization, timing of assay results, work stoppage and resumption of activities due to the COVID-19 pandemic and the ability of the Company to continue as a going concern. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, its properties and/or its projects to be materially different from those expressed or implied by such forward-looking information, including but not limited to those risks described in the disclosure documents of the Company filed under the Company’s profile on SEDAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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

Table 2: Results from DDH 86; 98; 99 and 74 Extension- Bonnefond Deposit

* Reported length are measured along the hole.
** Au uncapped