Callinex Intersects 9 Meters of 10% Zinc and Continues to Expand the Near-Surface Nash Creek Deposit

VANCOUVER, Jan. 18, 2018

• Drill hole NC17-257 returned exceptional near-surface results with a 15.0m intersection grading 7.2% Zn Eq. including 9.0m of 11.1% Zn Eq. from a starting depth of 113.0m;
• Hole NC17-255 intersected 21.0m of 2.8% Zn Eq. including 9.0m of 5.5% Zn Eq. at a starting depth of 118.0m; and
• The Nash Creek Deposit has been expanded 600m north of the mineral resource and the deposit remains open for expansion.

VANCOUVER, Jan. 18, 2018 /PRNewswire/ - Callinex Mines Inc. (the "Company" or "Callinex") (TSX-V: CNX; OTCQX: CLLXF)  is pleased to announce assay results from four drill holes as part of the recently completed 35 drill hole campaign at the Company's 100% owned Nash Creek Deposit located within the Bathurst Mining District of New Brunswick (See Figures 1, 2 and 3). Drill hole NC17-257 returned exceptional near-surface results with a 15.0m intersection grading 7.2% zinc equivalent ("Zn Eq.") mineralization including 9.0m of 11.1% Zn Eq. from a starting depth of 113.0m (See Table 1). These four holes have expanded the Nash Creek Deposit an additional 180m to the north of the initial 2017 summer drilling campaign, and 600m north of the mineral resource (See Figure 4). The deposit remains open for expansion to the north and south.

Highlights from these four drill holes include:

• Hole NC17-248 intersected 13.0m of 2.5% Zn Eq. including 4.6m of 4.5% Zn Eq. at a starting depth of 82.0m;
• Hole NC17-255 intersected 21.0m of 2.8% Zn Eq. including 9.0m of 5.5% Zn Eq. at a starting depth of 118.0m;
• Hole NC17-257 intersected 15.0m of 7.2% Zn Eq. including 9.0m of 11.1% Zn Eq. at a starting depth of 113.0m; and
• Hole NC17-269 intersected 7.0m of 3.2% Zn Eq. including 3.0m of 6.6% Zn Eq. at a starting depth of 108.5m.

Max Porterfield, President and CEO, stated, "Our success in expanding the strike length of the deposit by nearly 50% over the last six months of exploration speaks to the exciting potential of the project. While we continue to focus on exploration advances in 2018, we are eager to publish an updated resource and maiden Preliminary Economic Assessment for the Nash Creek Deposit in the coming months. We are targeting the PEA to have a base-case scenario of a standalone open pit operation with potential to process between 15 to 20 million tonnes of material.

Callinex plans to delineate the extent of the Nash Creek Deposit along strike in both directions along a 3 km long zinc-lead soil anomaly, of which only the southern 2 km has been drilled and is coincident with the Nash Creek Deposit. The Company also plans to test satellite zones that are open for expansion and commence a district-scale exploration program along the 20 km long land package.

The Nash Creek Deposit hosts a near surface indicated resource totaling 712 million pounds Zn. Eq. and inferred resource totaling 88 million pounds of Zn Eq. (See Table 2). The Company's Superjack hosts an additional near-surface inferred resource totaling 328 million pounds of Zn Eq. in the Bathurst Mining District (See Table 2).

The Project benefits from tremendous infrastructure within close proximity. The Nash Creek Deposit is located approximately 1 km from Provincial Highway 11, high-voltage transmission lines and only 25 km by road to Glencore's Brunswick Smelter, deep water port, railway and power plant near the town of Belledune (See Figures 1 and 2). Callinex is currently working towards publishing an updated resource estimate and maiden Preliminary Economic Assessment ("PEA").