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MGX Minerals Inc.

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Summary

Project:

Fran

Deposit:Fran
Location:Canada
Commodities:Gold-Copper
Date:8/12/2019
Report Code:NI43-101
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resources Definition
Report details:12-8-2019: MGX Minerals Inc. announces an Exploration/Drilling Update report for its Fran deposit at the Fran project. Drilling results incl. 2.23m @ 23.26g/t Au, 0.15% Cu from 235.5m. VANCOUVER, BRITISH COLUMBIA / August 12, 2019 / MGX Minerals Inc. (“MG
Resources:x
CP/QP:[Overall Report]: Andris Kikauka (Internal)
ABSTRACT:VANCOUVER, BRITISH COLUMBIA / August 12, 2019 / MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG / OTCQB: MGXMF) is pleased to report drill results from the 2018/2019 exploration program at its 13,905 hectare Fran Gold Property (“Fran” or the “Property”) located in the Omineca mining division of north-central British Columbia, just 30km southwest of the Mount Milligan Gold-Copper mine. The C$1.9 million exploration program completed 16 NQ-size diamond drill holes across 5,653 meters (see Figure 1 and Table 1) as well as 18 kilometers of Induced Polarization surveys (see Figure 2). Based on the positive results, MGX is now planning a follow up seven-hole, 2,800 meter drill program to further delineate the SE and NW extensions of the high-grade Bullion Alley gold zone. Results from the Winter 2018/2019 exploration program at Fran verified continuity of the north contact at the Bullion Alley Zone. The contact zone between the intrusive monzonite and hornfels volcanic/sedimentary rocks host several sub-parallel gold bearing shear zones. Interpretation of the results suggest higher gold grades correlate with vein strike flexure and intersecting shears in this 200 X 250 m area, along with relatively consistent continuity downdip to the north.

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