CANEX Metals Completes Gold Basin Acquisition and Eyes Exploration

CANEX Metals Inc. has finalized the procedural steps to acquire Gold Basin Resources, marking a major milestone in consolidating a significant oxide gold project in Arizona. This acquisition, notable as the first successful takeover of a cease-traded issuer in Canada, allows CANEX to pursue extensive exploration activities.

The consolidated Gold Range-Gold Basin project spans over 8 kilometers, featuring multiple known mineralized zones ripe for exploration. Highlight drill results from Gold Basin include 0.93 g/t gold over 138.7 meters and 2.44 g/t gold over 42.7 meters. CANEX's broader portfolio includes the Louise Copper-Gold Porphyry in British Columbia, where exploration permits have been secured for further drilling.

With a detailed district database and new exploration licenses in hand, CANEX is well-positioned to fast-track resource definition in Arizona. The company has also addressed requirements for dissenting shareholders of Gold Basin, paving the way for uninterrupted focus on development initiatives.