QMX Gold Reports Further Strong Results From Bonnefond Shear Zones

TORONTO, May 21, 2020 - QMX Gold Corp. (“QMX” or the “Company”) (TSX:V:QMX) is pleased to release assay results from the Winter 2020 infill drilling program from 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 17315-20-105A returned 4.98 g/t Au over 15.4m, including 32.78g/t Au over 1.2m in a shear zone.
• DDH 17315-20-102 returned 4.80 g/t Au over 4.6m, including 10.92 g/t Au over 1.3m in a shear zone.
• DDH 17315-20-106 returned 3.39 g/t Au over 2.7m a shear zone.

These results are part of the infill drilling program on the Bonnefond shear zones located to the south of the tonalite. Two of the nine (9) holes reported are extensions of previously released drill holes, DDH 17315-19-077 and 78 (New release, May 29th, 2019).

“We continue to intersect excellent high-grade gold values at Bonnefond,” says Dr. Andreas Rompel, Vice President Exploration. “This time we aimed at the individual shears and proved their prospectivity. This does not come as a surprise as shears are the conduit for gold-bearing fluids, however, the knowledge of the orientation of the shears and their conjugate fault sets is of the utmost importance to intersect them with diamond drill holes on a consistent basis.”

The nine drill holes are located in the eastern part of the Bonnefond deposit. They were drilled on a North-South orientation to intersect the mineralized shear zones located south of the Bonnefond intrusive. The goal was to test the extension of the mineralized shears east of the intrusive. DDH 17315-20-105 deviated and was re-drilled as DDH 17315-20-105A.

DDH 17315-20-105A (Figure 2) targeted a deep mineralized shear zone discovered in 1997 by Aur Resources. According to QMX database, the 1997 drill hole returned 12.21 g/t Au over 12.2m at 850m vertical depth. DDH 17315-20-105A intersected the same shear zone 40m south of the historical intercept at 775m vertical depth. The mineralized shear zone returned 4.98 g/t Au over 15.4m. The gold mineralization is associated with strong sericite-albite alteration and deformation. DDH 17315-20-105A demonstrates the robust potential at depth of Bonnefond shear zone system.

The other drill holes tested the shear system on a 200m strike east of the Bonnefond intrusive. Among those drill holes, DDH 17315-20-106 and 102 (Figure 2) intersected 3.39g/t Au over 2.7m and 4.80 g/t Au over 4.6m, respectively. Drill holes 17315-20-105A; 106 and 102 were the closest to the Bonnefond intrusive. The remaining six drill holes all intercepted the shear system but alteration and mineralization was not as developed.

Table 1: Highlights from the Bonnefond Deposit - DDH 17315-20-105A; 102 and 106.

Figure 1: QMX’s extensive and target-rich land package
https://www.globenewswire.com/NewsRoom/AttachmentNg/ae384ba5-bea3-42c1-9b98-390b6e33d375

Figure 2: Results from DDH 101, 102, 103, 104, 105A, 106, 108 and 77 and 78 Extension- Bonnefond Deposit
https://www.globenewswire.com/NewsRoom/AttachmentNg/4e872ca2-a53d-4800-a128-fe3dc57f6cd0

Current activities

QMX has re-opened its exploration office in Val d’Or and has resumed drilling on the western part of the Bonnefond deposit with two drill rigs. The objective is to complete 3,800m of drilling west of the Bonnefond intrusive. Once this drilling is completed, QMX will update the resource estimate for Bonnefond, which is expected to be released during the summer.

Once the resource update drilling has been completed later this month, QMX anticipates mobilizing one drill rig to the River Target and the other drill rig will continue to explore the trend between the Bonnefond Deposit and the historical Bevcon Mine. An additional drill rig will be mobilized to the Poulmaque Target in the Bourlamaque Zone once the drill pads have been permitted mid summer.

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., a certified commercial laboratory. 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 M?lanie 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, drill results, 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 DDH 101, 102, 103, 104, 105A, 106, 108 and 77 and 78 Extension-Bonnefond Deposit