CMX Gold & Silver Corp. has commenced an inaugural geophysical program across its 100%-owned Clayton Silver Project in central Idaho, deploying detailed 3D Induced Polarization and Magnetotelluric surveys over the property's patented and unpatented mining claims.

DIAS Geophysical is conducting the technical surveys to map subsurface structures at the flagship asset, with survey results anticipated by mid to late October 2026. The program is designed to delineate known vein structures, evaluate deeper sources of mineralization, and identify extensions of partially mined ore bodies. CMX plans to follow up the geophysical interpretation with diamond drilling to test priority targets.

The 1,028-acre property package is anchored by the historic Clayton Silver Mine, which operated from 1935 to 1986 and produced approximately 7 million ounces of silver alongside lead, zinc, copper, and minor gold from an estimated 2.15 million tonnes of ore.

“This is a significant step to advance the potential of the historic Clayton Silver Mine. During the mine’s 50-year operating life, there was no geophysical work or systematic exploration drilling to expand the potential beyond the single known vein. Mining stopped in 1986 because of low silver prices. We expect that the geophysics will identify quality drill targets on newly identified veins within the mineralized system and extend the existing vein that is open to depth and to the north.”

— Jan Alston, CEO of CMX

Financing for the ongoing exploration work is supported by a non-brokered private placement offering priced at $0.25 per unit. CMX closed an initial $910,000 first tranche on July 9, 2026, and expects to close a second tranche in September 2026, subject to regulatory approvals and clearance from the Canadian Securities Exchange.

Read the full announcement: CMX'S Clayton Geophysical Program Started, Private Placement Offering