QMX Gold Releases First Results from Positive Bonnefond Fall Drilling Campaign

TORONTO, Dec. 05, 2019 - QMX Gold Corp. (“QMX” or the “Company”) (TSX:V:QMX) is pleased to report the first results from its fall drilling campaign on the Bonnefond deposit (Figure 1). Bonnefond is located on the Val d’Or East Zone of QMX’s extensive land package in Val d’Or, Quebec (Figure 2). The fall Bonnefond drilling program is focused on both upgrading the intrusive inferred resource to the indicated resource category and drilling outside the intrusive in the higher-grade shear zones which is expected to improve definition and increase the grade and tonnage.

Results to date have returned better than expected grades within the Bonnefond intrusive and support the predictiveness of our geological model in the shear zones to the north and south of the intrusive.

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

• DDH 17315-19-087 returned 10.66 g/t Au over 11.2m and 44.95 g/t Au over 5.6m in the Bonnefond intrusive and 4.17 g/t Au over 2.9m in a shear zone south of the intrusive,
• DDH 17315-19-085 returned 1.07 g/t Au over 29.4m in the Bonnefond intrusive and 90.59 g/t Au over 1.0m in an isolated vein,
• DDH 17315-19-088 returned 3.79 g/t Au over 10.4m including 20.85 g/t Au over 1.5m in the Bonnefond intrusive,
• DDH 17315-19-089 returned 4.28 g/t Au over 9.0m and 5.11 g/t over 2.9m in shear zones south of the intrusive.

“Naturally we are very delighted with these results as they have exceeded our expectation,” says Dr. Andreas Rompel, Vice President, Exploration of QMX Gold, “and it confirms our target generation process as a result of an advanced knowledge and understanding of the structural mineralization model. Furthermore, these results will not only increase the confidence level of our resource but may increase the ounces in the resource itself.”

The first four (4) holes, covering 1,300m of the planned 6,000m fall program, focused on areas in the intrusive where the drilling pattern did not allow for the ounces to be classified as "indicated" and to test the predictability of our geological model in the shear zones. Drill holes 17315-19-085; 87 and 88 intersected the tonalitic intrusion and several shear zones, while drill hole 17315-19-089 was drilled to test only the shear zones close to the surface and within the conceptual pit-shell. Drill hole 17315-19-086 is currently being extended and will be reported once the extension is completed and assays returned.

Bonnefond intrusive:

All three drill holes intersecting the Bonnefond intrusive were characterized by the presence of visible gold in Quartz-Tourmaline veins. These veins with visible gold returned high grade results such as 10.66 g/t Au over 11.2m and 44.95 g/t Au over 5.6m in DDH 17315-19-087 and 20.85 g/t Au over 1.5m in DDH 17315-19-088 bringing the overall grade of the mineralized tonalite intersections to 3.69 g/t Au over 114.6m in DDH 17315-19-087 and 3.79 g/t Au over 10.4m in DDH 17315-19-088. An isolated vein in DDH 17315-19-085 returned 90.59 g/t Au over 1.0m close the tonalite-diorite contact within the intrusive.

Although visible gold is common within the Bonnefond intrusive, grades returned in DDH 17315-19-087 and 088 exceeded expectations as the Bonnefond tonalite currently has an average grade of 1.69 g/t Au. These holes will be surveyed with a televiewer in order to collect structural data and tighter drilling will be added to determine if these anomalous high-grade intervals have continuity.

Shear zones:

Results from the shear zones include 4.17 g/t Au over 2.9m in DDH 17315-19-087; 2.65 g/t Au over 4.0m in DDH 17315-19-088 and 4.28 g/t over 9.0m and 5.11 g/t Au over 2.9m in drill hole 17315-19-089. These intersections confirm the grades and the potential of the shear zones to the south of the intrusive.

Table 1: Highlights from the Bonnefond Deposit

Figure 1: Bonnefond Target – Initial results from the Fall Definition Drilling program is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0efbde15-8133-4029-936d-7b2e681d704c

Figure 2: QMX’s extensive and target-rich land package is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c9d899b6-739b-40c1-972c-80073e41a6d3

River target:

In November QMX completed its initial 1,100m reconnaissance drilling program on the River target and is now waiting for the assays results. The River target is located in the Bourlamaque Zone, roughly 1 kilometre (km) west of the Lac Herbin-Dumont-Ferderber gold system on the Bourlamaque Batholith. The River target was originally discovered in 2011 by Alexis Minerals and has not been followed up since. According to QMX Gold databases the best intercepts from 2011 were 35.2g/t Au over 6.2m in drill hole AMAR-249; 12.5 g/t Au over 4.5m in drill hole AMAR-251 and 9.1 g/t Au over 4.8m in drill hole AMAR-250.

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. or 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 Corp.

QMX Gold Corp. 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, expectations of the resource model, timing of assay results, 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 holes 85, 87, 88, 89 - Bonnefond Deposit

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