Callinex Mines Inc. announced that it has acquired the Bay 1 mining claim (the ‘Claim') located at the south end of its 100% owned Pine Bay Project and approximately 400m along trend from Hudbay's past-producing Centennial Mine. The company acquired the claim based on a review of historic drilling within the vicinity of the Project that identified significant intersections approximately 300m from the Centennial Mine shaft and approximately 100m from the newly acquired Claim boundary. These intersections were reported in drill logs where visual estimates outlined: Hole SAL 9 with 14.1m of massive sulphides ranging up to 35% chalcopyrite and 10-20% sphalerite; Hole SAL 11 with 8.7m of massive sulphides ranging up to 10% chalcopyrite and 30-40% sphalerite; and Hole SAL 12 with 11.1m of massive sulphides ranging up to 10-15% chalcopyrite and 10 20% sphalerite.

The mineral chalcopyrite consists of approximately 35% copper, 35% sulfur and 30% iron while the mineral sphalerite consists of approximately 64% zinc, 33% sulfur and 3% iron. The Company has not verified the above information and it is not necessarily indicative of mineralization on the Bay 1 mining claim. In addition to the close proximity to historic high-grade mineralization, the claim area is interpreted to cover the Centennial-Sourdough geological trend, an extension of the stratigraphy that hosts the Centennial Mine and Callinex's Sourdough Bay deposit.

A significant section of this prospective extension has not been subjected to modern geophysical exploration. The Centennial-Sourdough stratigraphy is believed to extend for multiple kilometers onto the Pine Bay Project area and is one of several stratigraphic horizons on the property known to host VMS mineralization. The Company acquired the Claim from the vendor for an immaterial cash payment.