MX Gold Corp. — Capital/Financing Update 2021

May 7, 2021

FOR IMMEDIATE RELEASE

May 6, 2021

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1300 Redonda Street Winnipeg, MB, R2C 3T7

MX Gold Closes Max Mine and Mill Project NPI Sale

Vancouver, B.C. – MX Gold Corp. (NEX: MXL.H) (FSE: ODV) (OTCQX: MXLGF) (the “ Company ” or “ MX Gold ”) is pleased to announce that, further to the Company’s news release dated May 3, 2021, the Company has completed the sale of its 50% net profit interest (“ NPI ”) on gross cash income from the MAX Mine and Mill Project to Metallica Metals Corp. (“ Metallica ”) pursuant to the terms of an agreement dated May 3, 2021 (the “ Agreement ”). The Company was previously granted the NPI by Metallica (formerly Cameo Industries Corp.) pursuant to a share purchase agreement dated January 11, 2019, as amended (the “ Share Purchase Agreement ”).

As consideration for the purchase of the NPI, Metallica, Metallica: (a) paid the Company a cash payment of $425,000; and (b) issued an aggregate of 1,000,000 common shares in the capital of Metallica (collectively, the “ Metallica Shares ”). The Metallica Shares are subject to a four month hold period in accordance with applicable securities laws.

For more information on the NPI and the Share Purchase Agreement, please see the Company’s news releases dated May 3, 2021 and January 14, 2019 filed under the Company’s profile on SEDAR.

On behalf of the Board of Directors,

“Dan Omeniuk”

For further information, please contact

Dan Omeniuk, CEO

Email: dano@mxgoldcorp.com Phone: 204-697-7640 Or at: info@mxgoldcorp.com

Neither the NEX nor its Regulation Services Provider (as that term is defined in policies of the NEX) accepts responsibility for the adequacy or accuracy of this release.