MX Gold Corp (MXLGF)

[Mel7]

Marketwired - Jan 23, 2017) - MX Gold Corp. (TSX VENTURE:MXL)(FRANKFURT:ODV)(OTCQX:MXLGF) (the "Company" or "MX Gold") is pleased to announce that, further to its news release dated December 7, 2016, it has paid all remaining installments and has earned a 50% participating ownership interest and 45% net profit participating interest in the Magistral, Del Oro tailings project located in Mexico (the "Project").

The Project includes a fully permitted, 500 tonne-per-day dynamic cyanide countercurrent system plant constructed in 2013 at a cost of approximately $4.5 million, which appears to be in excellent condition. The plant is unencumbered and it is estimated that the plant can be fully operational within four to six months. Additionally, the Project includes the exclusive rights to process the mineralized mill tailings.

"After conducting weeks of due diligence on site in Durango, Mexico, I am confident and excited with the value the Magistral Project is going to bring to MX Gold. The company and its shareholders can look forward to us reporting on our progress from Durango in the weeks to come." - Bert McPherson, President.