Mr. Jan Alston reports

CMX WARRANTS EXERCISED, OFFERING UPDATE

On June 30, 2026, shareholders exercised warrants to acquire 3.5 million common shares of CMX Gold & Silver Corp. at 10 cents per share. The company understands that the shares have been acquired for long-term investment purposes. Insiders exercised two million warrants. Warrants for 1.1 million shares were exercised by the settlement of $110,000 of debt. The cash proceeds of $240,000 will be applied to working capital and used for the work program scheduled for the Clayton silver project in Idaho, United States. Jan Alston, chief executive officer of CMX, stated: "The enduring support of our shareholders has positioned the company to benefit from the silver bull market, which in our view is still in its early stages. We are excited about becoming active on the Clayton property and testing its significant potential."

On or about July 8, 2026, CMX will close the first tranche of its previously announced non-brokered private placement financing. The offering is for up to $2-million. The company expects to close the next tranche later in July.

The offering is comprised of up to eight million units at 25 cents per unit with each unit consisting of one share in the capital of the company and one warrant. Each warrant is exercisable for one share at a price of 40 cents per share within 24 months of the closing of the offering. Proceeds from the offering will be used for a geophysical survey and an initial diamond drilling program on CMX's Clayton silver project in Idaho, United States.

The units will be sold to accredited investors and other exempt parties pursuant to exemptions from prospectus requirements under Canadian securities laws. The company may pay finders' fees to third parties in connection with the offering. Securities issued under the offering are subject to restrictions on resale for a period of four months and a day from the date of closing.

The Clayton silver property

The Clayton silver project is CMX's 100-per-cent-owned flagship asset, located in the Bayhorse mining district of central Idaho, approximately 30 to 40 kilometres south-southwest of Challis. The property comprises a 1,028-acre land package, including 29 patented mining claims and two patented mill sites (approximately 562 acres) and 20 unpatented claims (approximately 466 acres). The patented claims provide surface ownership rights, carry no government royalties and do not require drilling permits.

Beginning in August, 2026, CMX plans to conduct a comprehensive geophysical program over the historic mine and surrounding structures, including a 3-D direct current induced polarization (DCIP) survey and a magnetotelluric (MT) survey. These surveys are intended to delineate known structures, identify extensions of partially mined orebodies and evaluate deeper sources of mineralization, with follow-up diamond drilling planned to test priority targets.

The Clayton silver mine operated from 1935 to 1986 and was one of the most active underground mines in the district. Recorded production totalled approximately 7.0 million ounces of silver, along with lead, zinc, copper and minor gold, from an estimated 2.15 million tonnes of ore. Underground development reached eight levels to 1,100 feet, with nearly 19,700 feet of workings, and partially mined two tabular orebodies known as the south and north orebodies. Mine records and historical drilling indicate that mineralization remains open to depth and along strike. Notably, drill hole 1501-A intersected 22 feet of high-grade polymetallic mineralization at approximately 1,425 feet, confirming continuity below the deepest historic workings. CMX has determined that little modern geophysical work or systematic exploration drilling was conducted during the mine's operating life.

Technical and scientific information in this news release was reviewed and approved by Richard Walker, MSc (geology), PGeo, recognized as a qualified person under the guidelines of National Instrument 43-101. Mr. Walker is an independent consulting geologist. Readers are cautioned that historical information referenced in this news release is not NI 43-101 compliant but has been obtained from sources that the company believes are reliable.

We seek Safe Harbor.