Mexican Gold Announces Organizational and Strategic Updates With Appointment of Dr. Carl Hering, PhD, as CEO and John Anderson as Chairman

THUNDER BAY, Sept. 18, 2018 - Mexican Gold Corp. (TSX-V:MEX) (OTCMKTS:MEXGF) (FRA:4QW1) (“MEX” or the “Company”) announces organizational changes planned to advance its Las Minas Project towards a point of development and further exploration. John Anderson will become the new Chairman of the Company replacing the current Chairman Ali Zamani, who will remain on the Board of Directors. In addition, Carl Hering will be appointed CEO of MEX.

Mr. Anderson, a current Director of the Company, will step in as the new Chairman. He has over 20 years of Capital market experience specializing in the resource sector. He has been a founder and financier of many start-up companies with experience on the TSX, NYSE, NASDAQ and London AIM and Swiss Stock Exchange. He was a founder of Deep 6 PLC, American Eagle Oil and Gas as well as a founding general partner in Aquastone Capital LLC, a New York based gold fund. Mr. Anderson has raised more than $35 million for Triumph Gold (formerly Northern Freegold). Prior to this, he worked in Investor Relations at Bema Gold and Corporate Development at Manulife Financial in commercial real estate development.

Concurrently, the company has appointed Carl Hering, PhD, to the position of CEO and Director. Dr. Hering is a geologist with extensive experience in the exploration and mining sector. Dr. Hering is an independent consultant and a Director of several public companies. Having over 38 years of worldwide diversified technical and managerial experience in mineral exploration and corporate development, he has experience in all aspects of the mining business, including exploration, from generative to advanced projects, negotiations, acquisition evaluation, mine and corporate valuation, management, strategic planning and new program design and implementation. He was instrumental in two major gold discoveries in Latin America, each exceeding 3 million ounces, and while a director and technical advisor for Brett Resources, he played an integral role in the acquisition and advancement of the Hammond Reef Project in Ontario, which was acquired for $308M by Osisko. Hammond Reef currently contains in excess of 10M ounces of gold.

Previously, Carl worked in senior exploration positions for Noranda Exploration (1978 to 1988) - primarily in the western U.S.; Placer Dome Inc. (1989 to 1997) - District Geologist Western Great Basin, Regional Manager Mexico and Central America, and Exploration Manager Austral - Asia. Subsequently with Placer Dome Corporate Development in Vancouver, he coordinated technical evaluations for major worldwide acquisition opportunities. He also worked for Bema Gold Corp. (1997 to 1999) as Vice President Corporate Acquisitions and Rio Narcea Gold Mines (2006) as Senior V. P. Exploration and Business Development.

Brian Robertson will remain with the Company as President and Director, and continue to lead the advancement of the Las Minas Au-Cu Project that hosts a 43-101 resource in excess of 1M ounces Au Equiv. His role will be vital to the continued success and growth of the Company.

Mr. Anderson stated, “I am pleased to become the Chairman of Mexican Gold Corp. and look forward to working with both Dr. Hering and Mr. Robertson to grow the Company. Mexican Gold will be advancing its Las Minas Project to the pre-Feasibility stage, while continuing to explore this gold rich project. In addition, the company may evaluate other quality acquisition and exploration opportunities. This strategic plan will optimize both shareholder value and growth.”

Dr. Hering added, “I am pleased to be joining the team at Mexican Gold and look forward to working with everyone to advance the Las Minas Project. The Project has strong potential to grow and improve, and my past experience at Mulatos will be of benefit in furthering Las Minas.”

About Mexican Gold Corp
Mexican Gold Corp. is a Canadian based mineral exploration company committed to building long-term value through ongoing discoveries and strategic acquisitions of prospective precious metals deposits in North America. Mexican Gold is exploring the Las Minas Project, located in the core of the Las Minas district, Veracruz State, Mexico. The district is host to one of the largest under-explored skarn systems known in Mexico and has a strong production history that dates back to the Aztec era.

About Las Minas
The Las Minas Project hosts near-surface gold - silver and copper skarn mineralization and high-grade gold - silver epithermal vein deposits.

The district is host to a large gold, silver and copper skarn system that has a production history that extends back to the Aztec era. The Las Minas diorite intrusive measures approximately 10 kilometres in diameter and underlies the Las Minas concessions. The mineralization controls and association with magnetite appear to be similar to the Guerrero Gold belt, which is the site of the Los Filos and Morelos gold deposits.

For more information, please contact:

Brian Robertson, President

Phone: 807-474-4270 or 807-251-1816

Fax: 807-474-4272

E-mail: info@mexicangold.ca

Website at: www.mexicangold.ca

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about the magnitude or quality of mineral deposits, anticipated advancement of mineral properties or programs, future operations, results of exploration, prospects, commodity and precious metals prices, future work programs, anticipated financial and operational results, capital expenditures and objectives and the completion and timing of mineral resource estimates. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors, which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including the risks identified in the Company's disclosure documents available at www.sedar.com. 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 information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based on the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

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