CANEX Metals Awaits Formal Offer from Mayfair Acquisition

CANEX Metals Inc. has been notified of an unsolicited takeover proposal from Mayfair Acquisition Corp. The proposed all-share transaction aims to consolidate CANEX's and Gold Basin Resources' Arizona gold assets under a new entity sponsored by the Discovery Group. However, no formal offer has yet been submitted.

CANEX's Board of Directors is prepared to thoroughly review any formal proposals upon receipt. The Board plans to evaluate the offer's terms before making a public statement. Currently, there are no comments from CANEX on the offer, and no projected course of action has been disclosed.

The TSX Venture Exchange has not approved or disapproved this press release's content. Investors are advised that future developments could significantly diverge from the current statements.