CMX Gold & Silver Corp. Announces Financing to Restart Exploration at Historic Clayton Silver Mine in Idaho

CMX Gold & Silver Corp. (CSE: CXC) (OTC: CXXMF) has announced plans for a non-brokered private placement financing to raise up to CAN$2,000,000. The proceeds will be used to fund a geophysical survey and an initial diamond drilling program at the company's flagship Clayton Silver Project in Idaho, U.S.A. This financing positions the exploration-stage company to restart exploration activities at a historic asset with significant remaining potential.

The Clayton Silver Project is a past-producing underground operation located in the Bayhorse Mining District of central Idaho. The property comprises a 1,028-acre land package that includes 29 patented mining claims, 2 patented mill sites, and 20 unpatented claims. The mine operated until 1986 when it ceased production due to declining silver prices, and it was once the most active underground mine in the district, producing silver along with lead, zinc, minor gold, and copper.

CMX's 100%-owned Clayton Silver Property is situated in the mining-friendly state of Idaho and covers approximately 684 acres in Custer County in south-central Idaho. The Clayton Mine was developed on eight levels to a depth of 1,100 feet below surface, comprising approximately 19,690 feet of underground development. Two major ore bodies, the South Ore Body and the North Ore Body, were partially mined during previous operations, leaving substantial exploration potential.

The announcement comes as the company seeks to advance exploration at a property with a long mining history and significant remaining exploration targets. The planned geophysical survey and diamond drilling program represent the first steps in evaluating the property's potential for renewed production. Investors can find the latest news and updates relating to CXXMF in the company's newsroom at https://ibn.fm/CXXMF.

This development is significant because it represents a potential revival of a historically productive mining operation in a region known for its mineral wealth. The Clayton Silver Mine's past production history, combined with modern exploration techniques, could lead to the identification of new mineral resources. The financing announcement indicates growing investor interest in silver exploration projects, particularly those with established infrastructure and historical production data.

The mining industry continues to show interest in silver assets as demand for the precious metal remains strong for both industrial and investment purposes. Successful exploration at the Clayton Silver Project could contribute to domestic silver production in the United States. The project's location in Idaho, a state with a long mining tradition and supportive regulatory environment, adds to its potential viability.