QMX Gold Intersects 25.7 g/t Au Over 6.9 Metres, Confirming Eastern Extension of Bonnefond South Gold System

TORONTO, July 18, 2018 -- QMX Gold Corporation (“QMX” or the “Company”) (TSX-V:QMX) is pleased to report results from the first seven holes of the 2018 winter drilling program on the Bonnefond South target. Bonnefond South is located in the Val d’Or East Zone (Figure 1) of QMX’s extensive land package in Val d’Or, Quebec (Figure 3). These seven holes are part of a Phase II drill program which consisted of 17 diamond drill holes for 9,636 metres (m). They were completed to test both the effect of hole orientation on gold grade inside the Bonnefond Plug; and, the potential for an eastern extension of the shear zones.

Highlights include:

Eastern Extension:

• Drill Hole 17315-18-34 returned 25.7 g/t Au over 6.9m and 2.0 g/t Au over 12.5m including 4.4 g/t Au over 4.5m.

Tonalitic Plug:

• Drill hole 17315-18-39 returned 1.8 g/t Au over 96.8m, including 5.9 g/t Au over 5.6m and 7.7 g/t Au over 4.0m.

Shear Zone in the Footwall Volcanics:

• Drill Hole 17315-18-38 returned 4.9 g/t Au over 5.1m, including 6.4 g/t Au over 3.1m and 3.0 g/t Au over 9.0m including 5.3 g/t Au over 4.0m.
• Drill Hole 17315-18-39 returned 3.3 g/t Au over 8.2m, including 7.7 g/t Au over 3.0m.

Interpretation and evaluation is ongoing as these new results are integrated with the Phase I drilling.

Brad Humphrey, President and CEO, commented, “We are very encouraged with the initial results confirming the Bonnefond South target extends to the east. These results support our view that this gold system continues to the east towards the New Louvre, North Shear and Bevcon targets – covering roughly a 6km strike. Further assays will be received in the coming weeks.”

2018 Summer Drilling Program

Following on the strong results from our winter drilling campaigns, a summer drilling program of 13,000m is underway with three drill rigs currently turning (see QMX Press Release, May 10 and 24, 2018). The summer program consists of 5,000m of infill drilling on Bonnefond South; 4,000m targeting New Louvre; and 4,000m on the North Shear and Bevcon targets – covering a trend extending approximately 6km.

To view Figure 1: QMX’s Val d’Or East Zone – Bonnefond South Plug Target, visit http://www.globenewswire.com/NewsRoom/AttachmentNg/48713955-11ab-4ebc-8770-76e6d9ae42fb

Initial Results From The Winter Drilling Program – Bonnefond South

Highlights from the initial holes completed during the Phase II winter drilling program are presented in Table 1 and Figure 2 (complete results are shown in Table 2). Drill holes 17315-18-34, -35 and -37 were design to test the eastern extension of the Bonnefond Gold System and the area of the historical AUR Resources hole which returned 12.2 g/t Au over 12m (Hole 315-36B, GM 55978, MERN-SIGEOM). Drill hole 17315-18-36 tested the southeast area and holes 17315-18-38 and -39 were drilled to evaluate the Bonnefond South Plug and south shear zones down to 300m.

The geological context for the Bonnefond Plug and south shear zones intercepted by drill holes 17315-18-38 and -39 is similar to Phase I (see QMX Press Release, January 29, 2018). A preliminary geological interpretation suggests the presence of shear zones dipping south and intersecting the Bonnefond plug creating zones with high values. The gold assays over 0.5 g/t Au seem well and uniformly distributed inside the Bonnefond plug.

For the eastern extension of the Bonnefond Gold System, drill holes 17315-18-34, -35 and -37 cut strong shear zones highly anomalous in gold, similar to those intersected south of the Bonnefond plug. A zone of felsic to intermediate intrusives composed of Quartz-Feldspar porphyry, Feldspar porphyry and porphyric Diorite was intersected and could represents the eastern extension of the dyke system.

Table 1: Highlights from Initial Results - Winter Drilling Program on Bonnefond South

A complete interpretation integrating the data from the Phase I and II exploration programs will be completed to evaluate the effect of hole orientation on grade and confirm the different shear zone continuities and orientations. All drill holes are surveyed at the end of the campaign using the Optical and Acoustic Imaging tools to determine the direction and dip of the different structures. Following the integration and evaluation, a Phase III drilling program will be designed.

During the 2018 Phase II winter drilling program on the Bonnefond South target, a total of 17 drill holes for 9,636m were completed. Using new drill hole orientations, seven infill drill holes (3,130m) tested the continuity of veining and structures within the gold zone while assessing the effect of hole orientation on the gold grade inside the plug. An additional 10 drill holes (6,500m) tested the eastern extension of the Bonnefond gold-bearing system (Figure 2). Currently 5,000m of drilling is underway to complete the Phase II program of infill drilling on 50m-spacings in the Bonnefond Plug and south shear zones.

To view Figure 2: Bonnefond South Target – Initial Results From The Winter Drilling Program, visit http://www.globenewswire.com/NewsRoom/AttachmentNg/1566f089-725b-4719-abbf-0eebb2a9e1c3

To view Figure 3: QMX’s Val d’Or Properties, visit http://www.globenewswire.com/NewsRoom/AttachmentNg/83b02133-9e27-4a00-8ace-0adbcbc95e9c

Qualified Persons

The scientific and technical content of this press release has been reviewed, prepared and approved by Mr. Jules Riopel, P.Geo, M.Sc, MBA, Director of Exploration for QMX Gold, and "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").

About QMX Gold Corporation

QMX Gold Corp. is a Canadian based resource company traded on the TSX-V under the symbol “QMX”. The Company has a strong balance sheet and 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 camp portion of its land package focused on the Bonnefond South Plug and in and around the Bevcon Intrusive. In addition to its extensive land package, QMX owns the Aurbel gold mill.

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, 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: Initial Results From Winter Drilling Program – Bonnefond South Target