CMX Gold and Silver Corp. Reviews Historical Data On The Former Clayton Mine In Idaho

CALGARY, March 31, 2015 - CMX Gold & Silver Corp. (CSE: CXC) ("CMX" or the "Company") is releasing further information on its 100%-owned Clayton silver-lead-zinc property. Located approximately 30 km south-southwest of Challis in Custer County, southeast Idaho, the 276 ha (684 acre) property consists of 29 patented mining claims and two patented mills sites, comprising approximately 228 ha (565 acres). An additional six unpatented mining claims, comprising 48 ha (119 acres), are adjacent to, and contiguous with, the property to the south.

The Company initiated compilation of available historical drilling and mining information for the Clayton Mine and the Clayton Silver Property (see News Release dated Feb. 20, 2015). Information available in the public domain has been obtained from both the United States and Idaho Geological Surveys. Several sub-surface mine plans have been obtained from private sources, as well as the U.S. Department of the Interior, Office of Surface Mining. These data provide the basis for an initial compilation of the sub-surface workings tied to surface. The underground workings are flooded and inaccessible and, consequently, historical records are the only source of information available.

The former Clayton silver-lead-zinc-copper mine had total production of 218,692 kg silver (7,031,110 oz), 39,358,903 kg lead (86,771,527 lbs), 12,778,700 kg zinc (28,172,211 lbs), and 754,858 kg copper (1,664,177 lbs), with 67 kg (2,154 oz) gold from an estimated 2,145,652 tonnes of ore mined between 1934 and 1985. Mineralization was originally discovered in 1877, with the mine operating almost continuously over 50 years until its closure in 1986 due to low metal prices.

Structurally, the Clayton Mine is located along the eastern limb of the asymmetric Clayton Anticline with mineralization controlled by faulting and shearing within the Ella Dolomite along the Kinnikinic Creek Fault, a major terrane-bounding fault. Locally, the Kinnikinic Creek Fault is characterized by numerous smaller en echelon faults, which juxtapose the Ella Dolomite against strata correlated to the Clayton Mine Quartzites and the informal Rob Roy unit.

The former Clayton Mine was developed on 8 levels to a depth of 1,100 feet (335 m) below surface and is comprised of approximately 6,000 metres (19,690 feet) of underground development. Two major ore bodies were mined: the "South Ore Body" and the "North Ore Body". Both are tabular ore bodies raking northeast to depth. Production was initiated on the South Ore Body with development extending north, and to depth, on the North Ore Body until 1986 when the mine was closed. Primary mineralization is reported to consist of argentiferous galena, sphalerite and silver sulphosalts (reported as "tetrahedrite") in a siderite gangue, occurring as replacement and open space filling bodies.

    Level        Altitude     Drifts and
(feet below   (approximate)   cross-cuts
surface)         (m AMSL)      (metres)
100 (adit)         1,795           914
200                1,757           914
300                1,725         1,128
400                1,681           793
500                1,629           793
800                1,537           762
950                1,491           344 (est.)
1100               1,445           344 (est.)
           Total                 6,000

The following information was derived from records for a working mine and is not compliant with the requirements of National Instrument 43-101. Historical records indicate the "South Ore Body" was mined from the 100 Level to the 800 Level, while the "North Ore Body" was mined from the 100 foot level to the 1100 foot level. Internal mine records from 1966 indicate a resource of 597,075 tonnes between the 800 Level and 1300 Level, having a weighted average grade of 3.83 oz Ag/t. Values for lead and zinc were not disclosed. Underground development on the 800 Level was extended to the "North Ore Body", with subsequent development down to the 1100 Level to access the ore. Records indicate that as of January 1, 1982, there were approximately 458,590 tonnes of ore identified between the 800 and 1100 foot levels. Of this resource, 52,800 tonnes were mined in 1983, 76,110 tonnes in 1984 and 102,258 in 1985, suggesting 227,422 tonnes grading 3.83 oz Ag/t have not been mined. Additional tonnage identified down to the 1530 level was not mined and, therefore, is interpreted to remain available. Significant potential is demonstrated in hole 1501-A, drilled in the mid-1960's, which penetrated the mineralized zone at the 1425 level. At that level, the hole intercepted 22 feet (6.70 m) of 4.07 oz Ag/t, 5.75% lead and 5.37% zinc (note: true width is unknown).

Based on longitudinal sections of the mine, ore shoots comprising the South Ore Body are truncated by underground development and not the limit of mineralization. Furthermore, available maps and plans for the South Ore Body appear to document mining of discrete lenses from each level, rather than a continuous ore body raking northeast to depth similar to the North Ore Body. Taken together, these observations are interpreted to suggest additional mineral potential below the existing workings on multiple levels in association with the South Ore Body.

There are several important observations relevant to evaluating the potential of the former Clayton Mine, which are as follows:

1. Primary mineralization is reported to consist of argentiferous galena, sphalerite and silver sulphosalts (reported as "tetrahedrite") in a siderite gangue;

2. Mineralization consists of replacement and open space filling ore shoots hosted by a highly fractured, quartz-rich horizon within the Ella Dolomite;

3. Post mineralization faulting has dissected and offset mineralization;

With specific reference to the "North Ore Body"

4. Seven separate ore shoots were identified, comprising Zone I and Zone II ore;

5. Zone I ore was mined from the North Ore Body. Zone II ore was identified above the hanging wall fault controlling Zone I mineralization in 1986 and is, therefore, interpreted to represent additional mineral potential; and

6. Mineralization is zoned, the north end comprised of siderite and tetrahedrite grading south into a siderite–galena–sphalerite–tetrahedrite rich zone. The deposit may also be vertically zoned.

Review of the available information has been interpreted by CMX to suggest potential for identification of additional mineralized bodies:

a. east and west of the existing underground workings, representing lateral offsets of mineralization mapped in the underground workings and/or mineralization developed in proposed parallel to sub-parallel (en echelon) fault structures;

b. to greater depth below both the "South Ore Body" (speculative) and "North Ore Body" (documented); and

c. both north and south along strike of the host fault(s).


The data compilation will enable the Company to identify areas of existing and/or potential mineralization as sub-surface drill targets on the Clayton property. Diamond drilling will be required to confirm the presence of mineralization remaining in the underground workings and to evaluate the potential for identification of additional mineralization prior to de-watering the mine to provide access to the underground workings.

Technical information in this press release was prepared by Richard Walker, M.Sc. (Geology), P.Geo., recognized as a Qualified Person under the guidelines of National Instrument 43-101. 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.

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.


About CMX Gold & Silver Corp. (CSE: CXC)

CMX Gold & Silver Corp. is a junior mining company engaged in the acquisition, exploration and development of gold/silver and base metals properties. CMX's major asset is the 100%-owned Clayton Silver Property located in the mining-friendly State of Idaho, U.S.A. The property comprises approximately 276 ha (684 acres) in Custer County in south-central Idaho, including the former Clayton silver-lead-zinc-copper mine, which has approximately 6,000 m of underground workings and development on eight levels.



For further information contact:

CMX Gold & Silver Corp.
Jan M. Alston, President & C.E.O.
(403) 457-2697
janalston@cmxgoldandsilver.com
www.cmxgoldandsilver.com



WARNING: the Company relies upon litigation protection for "forward looking" statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary material include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.