Callinex Mines Inc. announced a high-grade copper maiden mineral resource estimate for its 100% owned Pine Bay Project in Manitoba. The Project hosts the high grade copper, zinc, gold and silver Rainbow deposit which is open for expansion in addition to the Pine Bay deposit that sits in close proximity. The deposits at the Pine Bay Project are Volcanogenic Massive Sulphide ("VMS") which contain significant copper, zinc, gold and silver that the Flin Flon Mining District is well known for.

The resource estimate was prepared by Kirkham Geosystems Ltd. for the Company. The mineral resource estimate, contained within the mineral lease, consists of the Rainbow deposit with an Indicated Mineral Resource of 3.44 Mt at 3.59% copper equivalent ("CuEq") containing 272.4 Mlb CuEq (comprised of 238.3 Mlb Cu, 56.9 Mlb Zn, 37.6 koz Au, 692.8 koz Ag, 2.3 Mlb Pb), an Inferred Mineral Resource of 1.28 Mt at 2.95% CuEq containing 83.4 Mlb CuEq (comprised of 72.1 Mlb Cu, 19.5 Mlb Zn, 11.1 koz Au, 222.2 koz Ag, 0.8 Mlb Pb) and the Pine Bay deposit with an Inferred Mineral Resource of 1.0 Mt at 2.62% Cu containing 58.1 Mlb Cu (Pine Bay Project Block Models Projected to Surface). Highlights: Rainbow deposit Indicated Mineral Resource of 3.44 Mt at 3.59% CuEq and Inferred Mineral Resource of 1.28 Mt at 2.95% CuEq; Pine Bay deposit Inferred Mineral Resource of 1.0 Mt at 2.62% Cu; Fully funded 20,000m drilling is ongoing to explore in depth and to further define parallel deposit targets at the Project.