Axo Metals Secures Major Environmental Permit Approval; Clears Path for Production at the San Antonio Gold Project

Axo Metals Corp. announced on July 27, 2026, that the Mexican Federal Environmental Department (SEMARNAT) issued a positive decision approving the Environmental Impact Statement (MIA) for the San Antonio gold project in Sonora, Mexico. This approval represents the primary authorization required for mine construction and operation. The decision covers all existing infrastructure and current resources across the Sapuchi, Golfo de Oro, and California deposits.

Core facilities, including the past-producing Luz del Cobre open pit, stockpiles, processing plant, and camp, are now fully permitted, with no further soil-use authorizations required for these assets. The company is currently finalizing a Change of Use of Soils (CUS) application, which is expected to be approved before year-end.

The release reiterates project resources of 576 koz Au Indicated and 544 koz Au Inferred, and notes the La Huerta copper discovery. CEO Jonathan Egilo described the MIA as “the definitive green light from SEMARNAT.”

Axo Metals Corp. (AXO) has secured final environmental approval for its San Antonio project, a development that removes a significant regulatory hurdle and establishes a clear path toward restarting production. The company already possesses permitted infrastructure, a resource base exceeding 1 million ounces of gold, and a 2021 heap-leach trial that successfully produced gold. With the Minera e Industrial Authorization (MIA) now in hand, Axo can move forward with engineering, feasibility studies, and construction decisions, subject only to the routine CUS step.

This approval represents a fundamental milestone for the pre-production developer, distinct from the company’s last material event, which involved drill results in May. The stock price had declined from a peak of C$1.05 to the C$0.70–0.75 range amid low sentiment prior to this announcement.

Axo Metals Corp. (TSX‑V: AXO) is a Canadian junior mining company focused on advanced-stage gold and exploration-stage copper assets in Mexico. Its flagship asset is the San Antonio gold project in Sonora, which the company acquired from Osisko Development in January 2026. San Antonio is a past‑producing oxide–transition–sulphide deposit featuring existing infrastructure, including an open pit, heap leach pads, a carbon‑in‑column plant, a camp, and power facilities. The project hosts 576 koz Au Indicated and 544 koz Au Inferred resources (1.12 moz total) with silver credits. A 2021 heap‑leach trial produced 13.9 koz Au at 74% recovery. The project is currently at the development stage, with the company aiming for a near‑term production restart.

Axo Metals also owns the La Huerta copper discovery in Jalisco. Drilling at La Huerta has returned high‑grade intercepts, including 5.24% CuEq over 6.4m. The company does not yet have a resource estimate for the property.