VANCOUVER, BC / TheNewswire / June 22, 2017 - Goldex Resources Corporation (TSX VENTURE: GDX; Frankfurt: WKN-A2AEDT, Ticker: G6T2) ("Goldex" or the "Company") is pleased to report initial gold assay results for the samples taken from the Mingeo Property located in northeastern Sonora, Mexico.
Gold mineralization is confined to low angle quartz "mantos" (0.10 to 3.0m wide), which contain drag folds, evidence of shearing and are transected by steep faults associated with mineralized quartz veins A chip channel sample 0.93m wide returned 22.2 g/t gold. Where observed, the quartz mantos are generally oriented with a WNW-ENE strike and moderate dip to the north and are believed to be of orogenic origin.
The samples reported herein are concentrated at the highest priority target area referenced as manto 1, containing four historic adits. Although several other layered quartz mantos were observed outcropping on surface, initial field work was designed to confirm previously reported results which were focused on the manto 1 area. Upcoming work programs will cover the broader property encompassing additional mantos, crosscutting veins and disseminated type mineralization.
Outcropping quartz mantos were observed over a strike length of approximately 600 m on the property and sampling covered approximately 350 m in the manto 1 area. All 39 samples collected at the Manto 1 area yielded gold assays greater than 0.4 g/t gold (Au), with nineteen samples assaying greater than 3 g/t Au. A footwall rock sample (995048) taken across 0.87m in sandstone returned 1.13 g/t gold.
All samples were submitted to ALS CHEMEX in Hermosillo, Mexico. The sampled quartz manto widths correspond to the true width of the manto where possible, however in several areas the footwall contact was not exposed making the true width of the manto inaccessible.
Highlights of the assay results are as follows:
| Sample No. | Sample Type | Quartz Manto location | Manto width (m) | Gold g/t |
| 995008 | Chip Channel | Underground Manto-1 Adit 4 | 1.10 | 6.86 |
| 995018 | Chip Channel | Underground Manto-1 Adit 3 | 0.43 | 5.15 |
| 995025 | Chip Channel | Underground Manto-1 Adit 2 | 0.75 | 7.1 |
| 995032 | Chip Channel | Surface outcrop Manto-1 | 0.62 | 10.05 |
| 995034 | Chip Channel | Surface outcrop Manto-1 | 0.60 | 5.11 |
| 995035 | Chip Channel | Underground Manto-1 Adit 1 | 0.55 | 4.61 |
| 995038 | Chip Channel | Underground Manto-1 Adit 1 | 0.81 | 4.64 |
| 995040 | Chip Channel | Underground Manto-1 Adit 1 | 0.30 | 16.7 |
| 995041 | Chip Channel | Underground Manto-1 Adit 1 | 0.70 | 7.36 |
| 995042 | Chip Channel | Underground Manto-1 Adit 1 | 0.93 | 22.2 |
| 995044 | Chip Channel | Underground Manto-1 Adit 1 | 0.80 | 12.25 |
| 995051 | Chip Channel | Underground Manto-1 Adit 1 | 1.80 | 8.15 |
| 995052 | Chip Channel | Underground Manto-1 Adit 1 | 1.05 | 18.9 |
| 995070 | Chip Channel | Surface outcrop Manto 1 | 1.03 | 4.46 |
* Additional assays are pending.
The above results are highly encouraging for additional field work at the Property. A quality assurance and quality control (QA/QC) program was in place during the field program.
Victor A. Jaramillo, M.Sc.A., P.Geo. and Q.P. supervised the recent field program and has read and approved the technical section of this news release.
About Goldex Resources
Goldex Resources Corporation is a TSX-listed (GDX) junior resource company exploring for gold in the Americas. Led by experienced resource professionals and a world class geological team Goldex's operations include prestigious, strategically focused projects in Guatemala and Mexico. For more information please visit: www.goldex.ca
