QMX Intersects Strong Initial Results From the River Target; 39.8 g/t Gold Over 2.0 Metres and 17.71 g/t Gold Over 4.0 Metres

TORONTO, Jan. 29, 2020 - QMX Gold Corp. (“QMX” or the “Company”) (TSX:V:QMX) is pleased to release the first results from its reconnaissance drilling program on the River Target (Table 1). The River Target is located west of the Lac Herbin mine in the Bourlamaque batholith on the western side of QMX’s extensive land package in Val d’Or, Quebec (Figure 2).

The following results contain the first three (3) drill holes of the Fall 2019 reconnaissance drilling program on the River Target (Figure 1). This initial program consists of seven (7) drill holes for a total of 1,130 metres. The results of the remaining four (4) drill holes will be released once all the assays are back from the laboratory.

“We are delighted that we immediately achieved high grade gold intersections in the first three drill holes on our new River target,” says Dr. Andreas Rompel, Vice President Exploration. “This gives us great optimism and encouragement to continue with our structural target delineation in general and for the River target in particular, where we anticipate establishing additional resources to our already substantial Bonnefond resource.”

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

• DDH 17421-19-045 returned 7.76 g/t Au over 2.9m.
• DDH 17421-19-046 returned 39.83 g/t Au over 2.0m.
• DDH 17421-19-047 returned 17.71 g/t Au over 4.0m.

River Target

The River Target is located in the Bourlamaque Zone, roughly 1 kilometer (km) west of the Lac Herbin-Dumont-Ferderber gold system that produced a total of 793,000 ounces of gold historically. The target was discovered in 2011 and had not been followed up since. The gold mineralization is hosted by Quartz-Tourmaline veins with pyrite in shear zones in the Bourlamaque batholith. The objective of the program is to evaluate the continuity of the grades and structures.

Another round of drilling will be planned on this target once all the assays are back and the 3D modeling is completed.

Table 1: Highlights from the River Target

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

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. 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 the Bourlamaque batholith. 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, granting of stock options 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 45; 46 and 47.

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

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/eebf7f9f-7695-42f8-bfff-09868d49daae

https://www.globenewswire.com/NewsRoom/AttachmentNg/37b71926-8edf-45b9-86e4-572b51fdf86a