Auxico Reports on new Gold Discovery at Aguamas Cuts 3m of 13.07 g/t Gold and 28.4 g/t Silver in a Channel Sample

Auxico Reports on new Gold Discovery at Aguamas Cuts 3m of 13.07 g/t Gold and
28.4 g/t Silver in a Channel Sample

MONTREAL, Oct. 24, 2017 (GLOBE NEWSWIRE) -- Auxico Resources Canada Inc.
(CSE:AUAG.CN) is pleased to provide initial sampling results of a single
trench that yielded a 50m wide mineralized section grading 0.85 g/t Au
including 3m of 13.07 g/t Au at the Aguamas property. This trench is located
about 100 metres southeast of the Aguamas 2 historical mine, which returned
samples of 14.87 g/t Au and 192.22 g/t Ag, and 25 metres northwest of the
Aguamas 1 historical mine, where recent sampling returned 34.05 g/t Au and
97.78 g/t Ag. Examination of these past workings and exposed rock outcroppings
indicated a series of quartz veins at multiple angles within a silicified
volcanic breccia. The Aguamas property is located within the Company’s
silver/gold property which contains 25 historic producers and occurrences.
These gold and silver occurrences outline two regional trends that transect
the property, anchored by past producers and field observations by Auxico’s
geologists. 

Currently, a backhoe is onsite to open  a series of four new trenches  between 
the Aguamas  1 &  2 historic  mines. The  trenches are  being cleaned  up  and 
prepared for channel sampling. Preliminary observations show the main  Aguamas 
vein in  the new  trenches as  well as  flat veins  that were  not  previously 
observed. The quartz veins appear to be well mineralized and look identical to
the samples taken from the first trench that returned high-grade gold  values. 
A diamond drill program is also being  planned over the Aguamas area, as  well 
as other  priority target  areas on  the  Property. All  of the  sampling  and 
exploration has been  under the  supervision of Mr.  Joel Scodnick,  Qualified 
Person. Auxico intends  to begin  exploration and  bulk sampling  work on  the 
Property, with the  aim of  getting a better  understanding of  the grades  of 
silver and gold, as  well as the  size of the mineralized  area along the  two 
structural trends at Zamora. 

In addition, the  Company announces  the grant,  pursuant to  its 10%  Rolling 
Stock Options Plan, of options to consultants to purchase a total of 1,100,000
common shares, exercisable in whole or in part, on or before October 22,  2022 
at an exercise price of $0.40 per share.

Additional information  on  Auxico  can  be found  on  the  Company’s  website 
(www.auxicoresources.com) or on SEDAR (www.sedar.com) under “Auxico  Resources 
Canada Inc.”

Technical information on  the Zamora Property  can be found  in the  Company’s 
Technical Report,  dated  August  16,  2017  (amended)  and  written  by  Joel 
Scodnick, P.Geo, an independent consultant to the Company.

Qualified Person

This news  release was  reviewed and  approved by  Joel Scodnick,  P.Geo.,  an 
independent consultant to Auxico,  in his capacity as  a Qualified Person,  as 
defined by National Instrument 43-101.

ON BEHALF OF THE BOARD OF DIRECTORS

« signed »

Mark Billings
President, Auxico Resources Canada Inc.
mb@auxicoresources.com
Cell: +1 514 296 1641

About Auxico Resources Canada Inc.

Auxico Resources Canada Inc. (“Auxico”) in a Canadian company that was founded
in 2014  and  based  in  Montreal.  Auxico  is  engaged  in  the  acquisition, 
exploration and development of mineral properties in Mexico. The Company has a
100% interest in the  Zamora Silver-Gold Property  in Sinaloa, Mexico.  Auxico 
will  continue  to  identify  and  potentially  acquire  additional   property 
interests and conduct exploration and evaluation of these properties to assess
their potential.

The Canadian Securities Exchange  (CSE) has not reviewed  and does not  accept 
responsibility for  the adequacy  or  the accuracy  of  the contents  of  this 
release.
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