TORONTO, ONTARIO--(Marketwired - Sept. 5, 2017) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

(All figures in Canadian dollars unless otherwise stated)

QMX Gold Corporation ("QMX" or the "Company") (TSX VENTURE:QMX) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Mackie Research Capital Corporation (collectively the "Underwriters") pursuant to which Mackie has agreed to complete a private placement financing (the "Offering"), on a "bought deal" basis, to raise gross proceeds of $5,000,000.

The Offering will consist of a combination of (a) 7,693,000 units of the Company ("Units") at a price of $0.26 per Unit and (b) 9,678,000 flow-through shares of the Company ("Flow-Through Shares") at a price of $0.31 per Flow-Through Share.

Each Unit will consist of one Common Share of QMX and one-half of one common share purchase warrant (each whole warrant a "Warrant") of QMX. Each full Warrant will entitle the holder thereof to purchase one Common Share of the Company at a price of $0.35 per Common Share, for a period of 24 months following the Closing Date.

The Company has granted the Underwriter an over-allotment option, on the same terms and conditions as the Offering, to be exercisable at any time prior to the closing of the Offering, to purchase up to an additional 15% of the Units and Flow-Through Shares of the Company.

The Company intends to use the net proceeds from the Offering to fund the Company's current exploration activities on its Val-d'Or Mining Camp located in Québec and for general working capital purposes.

The gross proceeds received by the Company from the sale of the Flow-Through Shares will be used to incur Canadian Exploration Expenses ("CEE") that are "flow-through mining expenditures" (as such term is defined in the Income Tax Act (Canada)) on the Company's properties in Québec, which will be renounced to the subscribers with an effective date no later than December 31, 2017, in the aggregate amount of not less than the total amount of the gross proceeds raised from the issuance of Flow-Through Shares.

The closing of the Offering is expected to occur on or about September 28, 2017 (the "Closing Date") and is subject to the receipt of regulatory approvals, including the approval of the TSX Venture Exchange. The securities issued under this Offering will be subject to a statutory hold period ending four months and one day from the Closing Date.

In connection with the Offering, the Corporation has agreed to pay the Underwriters a cash commission equal to 6.0% of the gross proceeds of the Offering and issue that number of warrants ("Broker Warrants") as is equal to 6.0% of the aggregate number of Units and Flow-Through Shares purchased under the Offering.

About QMX Gold Corporation

QMX Gold Corporation is a Canadian based resource company traded on the TSX-V under the symbol "QMX". The Company was recently restructured and is now systematically exploring its extensive property position in the Val d'Or mining camp in the Abitibi District of Quebec. QMX is currently drilling on the Bonnefond South Plug and is evaluating its recent discoveries on the Southwestern and Beacon Zones in order to set follow up drill targets. In addition to its extensive land package, QMX owns the Aurbel gold mill.

Cautionary Note Regarding Forward-Looking Information:

This press release contains or may be deemed to contain "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding the future plans, operations and activities, proposed use of proceeds, scheduled closing date and receipt of governmental approval. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, its properties and/or its projects to be materially different from those expressed or implied by such forward-looking information, including but not limited to those risks described in the disclosure documents of the Company filed under the Company's profile on SEDAR. Although the Company has attempted to identify important factors that could actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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