Auxico to Explore La Camichina and Los Olotes

Auxico to Explore La Camichina and Los Olotes

MONTREAL, Nov.  08, 2017  (GLOBE  NEWSWIRE) --  Auxico Resources  Canada  Inc. 
(CSE:AUAG) is  pleased  to  provide  its  shareholders  and  stakeholders  the 
following update on activity at its 100% owned Zamora Silver-Gold Property  in 
Mexico.

The Company intends to explore Los Olotes by means of a diamond drill  program 
and rehabilitate the La Camichina shaft,  which could allow access to the  Los 
Olotes Mine.  It is believed that the shaft goes down to about 110 metres.  It 
is not known to what depth the orebodies were mined out to in these two mines,
but having access the underground workings will allow the Company to  reassess 
what is actually there.  The Company considers that  both of these mines  have 
undeveloped resources at depth and are open along strike.

Both Los Olotes and  La Camichina are characterized  by high-grade silver  and 
gold. As  outlined  in  the  Technical Report,  the  following  are  the  best 
historical samples at each of these mines:

                               
Mine                          Best Historic Sample
Los Olotes (17-metre level)   3.15 kg/t silver; 13.4 g/t gold
Los Olotes (23-metre level)   6.57 kg/t silver; 44 g/t gold
La Camichina (17-metre level) 5.1 kg/t silver; 23.5 g/t gold
                               

During the exploration and restoration process at La Camichina, a total of  27 
channel samples, totalling 23.9  metres, were collected  and averaged 3.1  g/t 
gold and 609.2 g/t silver.

The zone at Los Olotes was sampled consistently on three levels (17m, 23m  and 
30m). Level 17  at Los Olotes  is host  to 96 channel  samples (89.5  metres), 
averaging 2.13 g/t gold and 316.6 g/t  silver. Level 23 at Los Olotes is  host 
to 24 channel samples, totalling 22.9  metres and averaging 6.14 g/t gold  and 
797.55 g/t silver. At Level 30, a total of 64 channel samples, totalling  82.3 
metres, and averaging 0.24 g/t gold and 27.5 g/t silver, were collected during
the exploration and restoration process. These levels were subsequently  mined 
out after 1982 when the government rehabilitated the mine, but the information
gathered from  the  rehabilitation  work  shows  compelling  evidence  of  the 
high-grade nature of  the mineralized  quartz vein system  and the  structural 
control of the orebody.

The Los Olotes and La Camichina deposits occur along the north-east south-west
fault that  contains  six  known  historical mines  over  a  distance  of  1.5 
kilometres: Rosa Maria, Trinicon,  La India, El Arroyito,  El Tecomate and  La 
Campeona, where one sample returned 10.1 g/t of gold and 941.7 g/t of  silver. 
For reference, please see the report “Consejo de Recursos Mineral” from  April 
1982 done by Antonio B. Flores Martinez,  Ing. The report can be found on  the 
Company’s website (www.auxicoresources.com).

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”) is 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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