news-2024

Montreal, Quebec--(Newsfile Corp. - March 20, 2024) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce assay results from a metallurgical hole drilled down dip in the QF Zone that reported 3.43% Copper, 34.00 g/t Silver, 1.80% Zinc and 0.30 g/t Gold over 20.80 m. (see Table 1 for full results). A secondary mineralized lens also returned 1.19% Copper, 7.44 g/t Silver, 0.15% Zinc and 0.11 g/t Gold over 15.70 m. The QF Zone sits approximately 200 m to the northeast of the Team Gold Zone and is a volcanic massive sulfide (VMS) body, which lies approximately 5 km from the past producing Normétal Mine that produced over 10.1 Mt of 2.24% Cu, 5.41% Zn, 0.53 g/t Au and 44.45 g/t Ag as shown in Figure 1. The QF Zone is one of Amex's most recent discoveries and was found within the same geological unit that hosted the Normétal Mine. The Perron project is situated approximately 120 km by paved highway from the Glencore Horne Smelter in Rouyn Noranda. See Figures 2 & 3 for a plan map and long section of the drill intercepts and Figure 4 for photos of the polymetallic sulphide mineralization. See Table 1 for a complete list of results and Table 2 for drill hole coordinates.

Jacques Trottier, Chairman of the Board of Amex Exploration, commented, "While we do not plan to include the QF Zone in our upcoming resource, the metallurgy is still very important to us as this zone represents additional upside to the project. We have only just begun to define this target which is looking very similar to the past-producing Normétal Mine. The main important difference between our deposit and the historical mine, is that our system is more copper-rich rather than more zinc-rich."

Assays results for this metallurgical hole were obtained from ALS Laboratories in Val d'Or. Metallurgical test work on these composites will now begin, with results expected in the coming months.

Figure 1: Geological map of the Normétal Volcanic Complex, with the location of the Perron Property and the QF Zone. Modified from Lafrance et al., 2000.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/202326_d01e33328479ebea_002full.jpg

Figure 2: Geological map displaying the location the QF Zone along the Normétal Mine Sequence at Perron with the collar location of today's drillhole.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/202326_d01e33328479ebea_003full.jpg

Figure 3: Long section of QF Zone with today's released hole labelled in green. A selection of previously announced results are labelled in black. Assay results are presented in core length (m).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/202326_d01e33328479ebea_004full.jpg

Figure 4: Highlight photos of the massive to disseminated sulphide Cu-rich lens intersected in drillhole PEX-23-189W1.
Abbreviations: Cp - Chalcopyrite, Sp - Sphalerite, Po - Pyrrhotite

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/202326_d01e33328479ebea_005full.jpg

Table 1: Assay results of today's released metallurgy hole from the QF Zone at Perron

Trou	De (m)	À (m)	Longueur Carotte (m)	Cu (%)	Zn (%)	Au (g/t)	Ag (g/t)	Profondeur Verticale (m)
PEX-23-189W1	585,20	606,00	20,80	3,43	1,80	0,30	34,00	~575
Incluant	585,20	588,55	3,35	3,57	8,06	0,30	45,78
Incluant	591,00	595,15	4,15	3,45	0,52	0,20	30,72
Incluant	597,85	599,30	1,45	4,82	0,52	0,55	56,26
Incluant	601,00	603,75	2,75	6,92	0,42	0,60	62,77
Et	625,40	641,10	15,70	1,19	0,15	0,11	7,44	~610
Incluant	627,60	640,20	12,60	1,27	0,16	0,12	7,93
Incluant	631,90	638,15	6,25	1,76	0,23	0,15	10,25
Incluant	633,45	638,15	4,70	0,89	0,18	0,10	5,15
Incluant	639,00	640,20	1,20	0,14	0,08	0,02	1,00

Table 2: Collar details of today's released hole from the QF Zone at Perron

Trou	Azimut (°)	Inclinaison (°)	De (m)	À (m)	Longueur (m)	Estant (m)	Nordant (m)	Élévation (m)
PEX-23-189W1	325	-80	401	705	304	615682	5430884	354

Qualified Person and QAQC

Jerôme Augustin P.Geo. Ph.D., (OGQ 2134), an independent "qualified person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects (the "Qualified Person"), has reviewed and approved the geological information reported in this news release. The drilling campaign and the quality control program have been planned and supervised by Jérôme Augustin. Core logging and sampling were completed by Laurentia Exploration.

The quality assurance and quality control protocol include insertion of one blank, one standard and one duplicate every 10 samples, in addition to the regular insertion of blank, duplicate, and standard samples accredited by ALS Canada Ltd. during the analytical process. Additionally, sample weight is taken prior shipment to validate sample identity. Gold values are estimated by fire assay with finish by atomic absorption. Zinc, Copper and Silver values are estimated by four acid digestion multi elements Inductively Coupled Plasma - Atomic Emission Spectroscopy (ICP-AES), ME-ICP61. Zinc values over 1%, copper values over 1% and silver values over 100 g/t are estimated by four acid digestion ICP-AES, OG62.

The Qualified Person has not completed sufficient work to verify the historical information on the Property or neighbouring projects, particularly in regards to historical drill results. However, the Qualified Person believes that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.

About Amex

Amex Exploration Inc. has made significant gold discoveries on its 100% owned high-grade Perron Gold Project located ~110 kilometres north of Rouyn-Noranda, Quebec, consisting of 117 contiguous claims covering 4,518 hectares. The project is well-serviced by existing infrastructure, on a year-round road, 10 minutes from an airport and just outside the town of Normétal (~8 km). In addition, the project is in close proximity to a number of major gold producers' milling operations. The project host both bulk tonnage and a high-grade gold style mineralization. Since January 2019, Amex has intersected significant gold mineralization in multiple gold zones and discovered copper-rich VMS zones.

For further information please contact:

Victor Cantore
President and Chief Executive Officer
Amex Exploration: +1-514-866-8209

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking statements

This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the planned exploration program on the HGZ and Denise Zone, the expected positive exploration results, the extension of the mineralized zones, the timing of the exploration results, the ability of the Company to continue with the exploration program, the availability of the required funds to continue with the exploration and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "to earn", "to have', "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/202316

Montreal, Quebec--(Newsfile Corp. - March 28, 2024) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is very pleased to announce that it has intersected the highest-grade gold composite to date on the Gratien Zone ("Gratien"), on the Perron Project in the Abitibi region of Quebec. The near-surface intercept of 76.69 g/t Au over 3.50 m was found in the western extension of the Gratien orebodies, in follow up drilling to the previously announced results in the February 20, 2024 press release.

With a metal factor of 268.42, this intercept represents Amex's highest-grade composite outside of the High-Grade Zone. The Gratien Gold Zone has become a current focus for Amex Exploration to add significant value to the project. See Figure 1 for a plan view of the geology of the Perron Project, Figure 2 for a plan view of the Gratien Gold Zone, Figure 3 for a longitudinal of Gratien, Figure 4 for images of gold mineralization in Gratien, Table 1 for assay results, and Table 2 for drillhole coordinates.

Highlights include:

Western Extension Gratien Zone

PEG-24-742 returned 3.50 m of 76.69 g/t Au, including 0.60 m of 431.72 g/t Au at a vertical depth of ~130 m in the Gratien Gold Zone;
PEG-24-738 returned 7.30 m of 8.16 g/t Au, including 0.50 m of 98.17 g/t Au at a vertical depth of ~160 m in the Gratien Gold Zone;

Results from PEG-24-742 represent the highest-grade intercept seen to date in the entirety of the Gratien Zone and is also now the highest metal factor composite outside of the High-Grade Zone. This newly discovered western extension of the Gratien Zone is rapidly expanding with the current drill program. By referring to the longitudinal of Gratien in Figure 3, it can be observed that these heavily mineralized centimetric quartz-carbonate veins were found in a previously untested portion of Gratien West and appear to be an at-depth extension of the existing zone. Gold mineralization is hosted in quartz-carbonate veins parallel to iron formations and straddling mafic intrusions within the Normétal South Block. Multiple mineralized lenses exist in the Gratien Zone (see Figure 2). The Upper Gratien is found within the rhyolite of the Beaupré Block, while several other kilometric mineralized lenses of the main Gratien are found within the andesite of the Normétal South Block. To date, this is the highest-grade mineralization that Amex has found situated outside of the Beaupré Block and opens up the entire Normétal South Block for additional discoveries (see Figure 1). Many additional drill holes have been planned to further define this new high-grade extension.

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "The Gratien Zone is open in all directions and is kilometric in strike. This previously untested western extension of the Gratien Zone is providing some of the best mineralization we have encountered across the Perron property. The results have opened up a large new area for rapid expansion and we have deployed three drills to this target. The amount of visible gold mineralization observed in hole PEG-24-742 is similar to what we typically see in the High-Grade Zone (HGZ)."

The Company also wishes to provide an update on the upcoming NI 43-101 resource estimate which it is now targeting to release in early to mid Q2 2024.

Figure 1: Geological map of the Perron Project, showing each of the significant mineralized zones identified to date, including the Gratien Gold Zone.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/203332_34611adf24bd6994_002full.jpg

Figure 2: Geological map of the Gratien Gold Zone, showing gold mineralization greater than 0.50 g/t Au. Three main gold zones occur at Gratien, hosted in an autoclastic rhyolite of the Beaupré Block and in the mafic to intermediate volcanic rocks of the Normétal South Block.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/203332_34611adf24bd6994_003full.jpg

Figure 3: Longitudinal section of the Gratien Gold Zone looking to the south. Showing contoured metal factor (Au g/t*core length) and the location of today's released drill holes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/203332_34611adf24bd6994_004full.jpg

Figure 4: Highlight photos of the Gratien Gold Zone in drillholes PEG-24-738, PEG-24-742 and PEG-24-745. Gold mineralization is associated with centimetric quartz-carbonate-sulfide veins and contains visible gold. Abbreviation: VG - Visible Gold.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/203332_34611adf24bd6994_005full.jpg

Table 1: Assay results from the Gratien Zone at Perron.

Hole ID	From (m)	To (m)	Core length (m)	Au (g/t)	Ag (g/t)	Vertical depth (m)	*Metal Factor (g/t Aum)*	Gold Zone
PEG-24-729	194.55	195.30	0.75	3.09	1.30	~140	2.32	Upper Gratien (Rhyolite)
And	216.50	217.00	0.50	1.27	0.70	~155	0.64	Upper Gratien (Rhyolite)
PEG-24-731	197.50	199.00	1.50	0.57	0.40	~165	0.85	Upper Gratien (Rhyolite)
And	259.80	260.40	0.60	0.64	1.00	~215	0.38
And	350.40	351.00	0.60	0.83	1.20	~285	0.50
PEG-24-734	156.00	159.50	3.50	1.057	1.00	~135	3.70	Gratien (Andesite)
PEG-24-736	72.80	73.80	1.00	1.93	1.20	~55	1.93	Gratien (Andesite)
And	131.50	135.20	3.70	0.90	0.30	~100	3.34	Gratien (Andesite)
PEG-24-737	180.50	181.00	0.50	6.10	0.70	~151	3.05	Gratien (Andesite)
PEG-24-738	15.50	17.00	1.50	11.28	1.00	~15	16.92	Upper Gratien (Rhyolite)
And	178.50	180.00	1.50	1.68	0.10	~150	2.52	Gratien (Andesite)
And	193.20	200.50	7.30	8.16	0.96	~160	59.56
Including	193.20	193.70	0.50	18.86	1.80		9.43
Including	200.00	200.50	0.50	98.17	8.00		49.09
PEG-24-739	224.30	225.10	0.80	3.26	5.50	~205	2.61	Upper Gratien (Rhyolite)
And	296.50	301.70	5.20	1.96	3.46	~270	10.18
And	376.00	383.50	7.50	0.51	0.63	~340	3.82
PEG-24-740	157.00	158.50	1.50	2.17	1.00	~105	3.25	Gratien (Andesite)
And	177.70	188.80	11.10	1.07	0.42	~125	11.84
Including	185.50	186.50	1.00	4.05	0.50	~125	4.05
PEG-24-741	270.00	270.50	0.50	2.18	2.50	~220	1.09	Gratien (Andesite)
PEG-24-742	131.00	134.50	3.50	76.69	5.88	~130	268.42	Gratien (Andesite)
Including	131.00	131.60	0.60	431.72	33.80		259.03
Including	131.60	132.50	0.90	8.54	0.10		7.69
PEG-24-743	14.20	15.00	0.80	0.85	1.30	~10	0.68	Upper Gratien (Rhyolite)
And	69.60	70.70	1.10	0.50	1.45	~60	0.55	Gratien (Andesite)
And	153.60	154.40	0.80	0.58	0.60	~135	0.46	Gratien (Andesite)
PEG-24-744	211.50	214.80	3.30	0.55	0.74	~200	1.82	Gratien (Andesite)
PEG-24-745	63.90	67.90	4.00	6.98	0.60	~65	27.90	Gratien (Andesite)
Including	65.90	66.40	0.50	23.86	2.80	~65	11.93	Gratien (Andesite)
PEG-24-746	85.00	86.20	1.20	5.71	0.20	~70	6.85	Gratien (Andesite)
And	195.50	199.00	3.50	0.59	0.73	~165	2.08	Gratien (Andesite)

*Metal Factor is defined as gold grade multiplied by core length.

Table 2: Drillhole coordinates for today's results.

Hole ID	Azimuth (°)	Dip (°)	Start (m)	End (m)	Length (m)	Easting (m)	Northing (m)	Elevation (m)
PEG-24-729	156	-48	0	400	400	613238	5430983	326
PEG-24-731	146	-57	0	451	451	613238	5430983	325
PEG-24-734	196	-60	0	231	231	612574	5431041	326
PEG-24-736	227	-51	0	231	231	612573	5431040	326
PEG-24-737	184	-58	0	252	252	612780	5431011	327
PEG-24-738	184	-58	0	285	285	612665	5431038	327
PEG-24-739	150	-66	0	475	475	613188	5430993	325
PEG-24-740	150	-45	0	250	250	612477	5431066	328
PEG-24-741	200	-58	0	400	400	612585	5431198	328
PEG-24-742	180	-75	0	279	279	612480	5431065	328
PEG-24-743	170	-65	0	250	250	612480	5431065	328
PEG-24-744	157	-74	0	253	253	612480	5431066	329
PEG-24-745	201	-72	0	208	208	612480	5431066	329
PEG-24-746	133	-58	0	253	253	612480	5431065	328

Qualified Person and QA&QC

Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), an Independent Qualified Person as defined by Canadian NI 43-101 standards, has reviewed and approved the geological information reported in this news release. The drilling campaign and the quality control program have been planned and supervised by Jérôme Augustin. Core logging and sampling were completed by Laurentia Exploration. The quality assurance and quality control protocols include insertion of blank or standard samples every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard samples accredited by Laboratoire Expert during the analytical process. For all analyses targeting gold mineralization, gold values are estimated by fire assay with finish by atomic absorption. Values over 3 ppm Au are reanalyzed by fire assay with finish by gravimetry by Laboratoire Expert Inc, Rouyn-Noranda. Samples containing visible gold mineralization are analyzed by metallic sieve. For additional quality assurance and quality control, all samples were crushed to 90% less than 2 mm prior to pulverization, in order to homogenize samples which may contain coarse gold. The Qualified Person has not completed sufficient work to verify the historical information on the Property or neighbouring projects, particularly in regards to historical drill results. However, the Qualified Person believes that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.

About Amex

For further information please contact:

Victor Cantore
President and Chief Executive Officer
Amex Exploration: +1-514-866-8209

Forward-Looking Statements

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/203332

Montreal, Quebec--(Newsfile Corp. - April 24, 2024) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce that after continuing to advance its geological understanding on the Perron Project, further drilling identified similarities between the Team Zone, 210 and E3 gold zones, therefore making it logical to combine the three. The consolidated gold zones will retain the name Team Zone, which creates one larger mineralized corridor straddling the Normétal fault on the northeastern side of the Beaupré Block (See Figure 1). The decision is geologically driven as all three zones display remarkable similarity in their lithologies, structures and mineralization style (Figure 5).

The Company is also pleased to announce further drill results from these zones (See Figure 4 and Tables 1 and 2). With up to 14 known zones across the Perron property, this decision will improve simplicity and will save time in the ongoing modelling process and drill data compilation.

Drill Highlights Include:

210 Gold Zone (which from now will form part of Team Zone)

PE-22-586 returned 11.50 m of 4.57 g/t Au, including 3.00 m of 10.72 g/t Au at a vertical depth of ~115 m in the 210 Gold Zone;
PE-23-639 returned 19.10 m of 3.23 g/t Au, including 1.40 m of 29.76 g/t Au at a vertical depth of ~190 m in the 210 Gold Zone;

Team Zone

PE-23-680 returned 7.30 m of 4.97 g/t Au, including 0.50 m of 54.12 g/t Au at a vertical depth of ~35 m in the Team Gold Zone;
PE-23-702 returned 2.10 m of 23.10 g/t Au, including 0.55 m of 83.98 g/t Au at a vertical depth of ~270 m in the Team Gold Zone;

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "The combination of these three gold zones is an important milestone on the Perron Project. As we've continued to add more drilling into this area and as our modelling work has advanced, it became clear that the three zone were geologically, structurally and spatially related. The larger consolidated Team Zone now covers a strike length of approximately 1.4 km and remains open to the northwest, southeast and at depth. Amex plans to add significant meterage to the Team Zone as we believe we have only just begun to unlock its value."

Figure 1: Geological map of the Perron Project, showing each of the significant mineralized zones identified to date, including the newly consolidated Team Gold Zone.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/206644_5c1c0eee843358cb_002full.jpg

Figure 2: Geological map of the Team Gold Zone, showing gold mineralization greater than 0.50 g/t Au. The outline of the zone identified on the map represents the surface expression of mineralization at depth.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/206644_5c1c0eee843358cb_003full.jpg

Figure 3: Image showing the modelled wireframes of the 210 Zone, the Team Zone and the E3 Zone, displaying the similarities of mineralization orientations.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/206644_5c1c0eee843358cb_004full.jpg

Figure 4: Highlight photos of the Team Zone in drillholes PE-23-639, PE-23-680, PE-23-702 and PE-23-717. Gold mineralization is associated with tension style quartz-sulphide veins and contains visible gold. Abbreviation: VG - Visible Gold.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/206644_5c1c0eee843358cb_005full.jpg

Figure 5: Gold bearing quartz-sulfide veins from the 210 Gold Zone, Team Zone and E3 Gold Zone. All gold zones share similar mineralization-style.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/206644_5c1c0eee843358cb_006full.jpg

Table 1: Assay results from the Team Zone at Perron.

Hole ID	From (m)	To (m)	Length (m)	Au (g/t)	Ag (g/t)	Vertical depth (m)	*Metal Factor (g/t Au m)*	Zone
PE-22-524	659.75	661.75	2.00	7.43	0.80	~625	14.86	210
PE-22-532W1	518.30	523.50	5.20	5.01	0.58	~490	26.07	210
Including	518.30	519.00	0.70	33.39	3.00	~490	23.37	210
PE-22-581	198.50	214.00	15.50	1.22	0.49	~140	18.94	210
Including	212.50	214.00	1.50	7.68	2.70	~140	11.52	210
PE-22-586	127.50	129.90	2.40	2.14	0.10	~90	5.13	210
And	158.50	170.00	11.50	4.57	0.64	~115	52.54
Including	163.00	166.00	3.00	10.72	1.31	~115	32.17
And	308.70	319.00	10.30	2.95	0.30	~215	30.39
Including	308.70	311.50	2.80	9.42	0.85	~215	26.38
PE-23-639	148.00	167.10	19.10	3.23	0.28	~190	61.71	210
Including	156.60	158.00	1.40	29.76	1.60	~190	41.66	210
PE-23-658	66.15	79.80	13.65	2.37	0.85	~60	32.40	210
Including	73.00	74.00	1.00	5.90	0.60		5.90
Including	75.00	75.75	0.75	6.14	1.10		4.61
Including	79.00	79.80	0.80	7.78	6.30		6.22
PE-23-667	76.50	90.70	14.20	0.60	1.81	~70	8.48	210
And	102.00	109.50	7.50	5.60	0.31	~85	41.96
Including	106.50	108.00	1.50	22.39	1.00	~85	33.59
And	161.60	163.50	1.90	2.79	0.32	~135	5.29
And	287.50	294.00	6.50	5.22	0.11	~240	33.96
Including	288.00	289.50	1.50	18.31	0.10	~240	27.47
PE-23-676	19.00	25.00	6.00	1.78	0.10	~15	10.70	210
PE-23-679	97.00	110.50	13.50	0.76	0.23	~85	10.28	210
Including	98.40	99.15	0.75	8.43	2.20	~85	6.32	210
PE-23-689	525.70	526.20	0.50	18.67	1.60	~435	9.34	210
PE-23-690	127.50	141.00	13.50	1.20	0.21	~115	16.16	210
Including	134.75	135.25	0.50	9.91	0.90	~115	4.96	210
PE-23-680	45.20	52.50	7.30	4.97	0.73	~35	36.25	Team Zone
Including	45.20	45.70	0.50	54.12	1.40	~35	27.06	Team Zone
PE-23-683	79.30	83.00	3.70	2.25	0.67	~65	8.33	Team Zone
And	185.30	186.00	0.70	7.75	0.30	~160	5.43
And	410.00	411.50	1.50	1.55	0.90	~350	2.33
PE-23-702	321.50	323.60	2.10	23.10	0.81	~270	48.50	Team Zone
Including	322.35	322.90	0.55	83.98	2.70	~270	46.19	Team Zone
PE-23-717	163.00	164.00	1.00	3.22	0.30	~135	3.22	Team Zone
And	478.00	481.00	3.00	6.12	1.80	~390	18.37
Including	478.00	478.50	0.50	33.36	5.60	~390	16.68
And	574.20	575.25	1.05	28.28	14.53	~465	29.70

*Metal Factor is defined as gold grade multiplied by core length.

Table 2: Drillhole coordinates for today's results.

Hole ID	Azimuth (°)	Dip (°)	From (m)	To (m)	Length (m)	Easting (m)	Northing (m)	Elevation (m)
PE-22-524	143	-73	0	1645	1645	614886	5431358	349
PE-22-532W1	137	-76	0	1878	1878	614964	5431427	355
PE-22-581	135	-45	0	601	601	614887	5431358	349
PE-22-586	135	-45	0	505	505	614860	5431281	347
PE-23-639	130	-60	0	351	351	614847	5431123	344
PE-23-658	40	-60	0	351	351	614846	5431271	346
PE-23-667	130	-60	0	335	335	614884	5431316	348
PE-23-676	40	-60	0	321	321	614997	5431139	348
PE-23-679	130	-60	0	352	352	614918	5431205	347
PE-23-680	310	-60	0	520	520	615260	5430927	349
PE-23-683	120	-60	0	532	532	615263	5430925	349
PE-23-689	310	-60	0	550	550	615217	5430947	348
PE-23-690	130	-60	0	343	343	614914	5431272	348
PE-23-702	130	-60	0	411	411	615353	5430871	349
PE-23-717	300	-60	0	597	597	615531	5430732	348

Qualified Person and QA&QC

About Amex

For further information please contact:

Victor Cantore
President and Chief Executive Officer
Amex Exploration: +1-514-866-8209

Forward-looking statements

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/206644

Montreal, Quebec--(Newsfile Corp. - February 2, 2024) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or the "Company") is pleased to announce that further to its January 16, 2024 press release, it has successfully completed a non-brokered charity flow-through private placement through the issuance of 11,344,130 charity flow-through shares (each, a "CFT Share") at a price of C$2.35 per CFT Share to raise aggregate gross proceeds of C$26.65 million (the "Offering").

In connection with the Offering, Eldorado Gold Corporation (TSX: ELD) (NYSE: EGO) ("Eldorado") made a strategic investment in the Company through the purchase of 11,344,130 common shares of the Company (the "Strategic Investment"). The Strategic Investment represents approximately a 9.9% ownership interest in the Company's issued and outstanding common shares on a non-diluted basis. In connection with the Strategic Investment, the Company has granted Eldorado a customary anti-dilution right to maintain its equity ownership interest.

Each CFT Share will qualify as a "flow-through share" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Québec)). The gross proceeds from the Offering will be used to advance the Company's Perron project in Quebec, which will qualify as "Canadian Exploration Expenses" and "flow-through mining expenditures", as those terms are defined in the Income Tax Act (Canada), which will be renounced to the initial purchasers of the CFT Shares with an effective date no later than December 31, 2024. In addition, with respect to Quebec resident CFT Share subscribers who are eligible individuals under the Taxation Act (Quebec), the Canadian exploration expenses will also qualify for inclusion in the "exploration base relating to certain Quebec exploration expenses" within the meaning of Section 726.4.10 of the Taxation Act (Quebec) and for inclusion in the "exploration base relating to certain Quebec surface mining expenses or oil and gas exploration expenses" within the meaning of Section 726.4.17.2 of the Taxation Act (Quebec).

In connection with the Offering, PI Financial Corp. acted as financial advisor to the Company and received an advisory fee of $790,000 (exclusive of all applicable taxes).

Prior to the completion of the Offering, the Company had 103,243,001 issued and outstanding common shares. Upon completion of the Offering, the Company currently has 114,587,131 issued and outstanding common shares.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities issued under the Offering in the United States. The securities issued under the Offering have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Amex

Amex Exploration Inc. is an exploration company with projects in Quebec.

For further information please contact:

Victor Cantore
President and Chief Executive Officer
Amex Exploration: +1-514-866-8209

Forward-looking statements

NOT FOR DISTRIBUTION IN THE UNITED STATES OF AMERICA

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/196649

Montreal, Quebec--(Newsfile Corp. - February 20, 2024) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce high-grade gold results from a new western extension of the Gratien Gold Zone ("Gratien") that was previously undrilled, on the Perron Project in the Abitibi region of Quebec. In addition, a number of drill holes focused on expansion and definition drilling of the Team Zone ("Team") and E3 Gold Zone ("E3") are reported here within. See Figure 1 for a plan view of the geology of the Perron Project, Figure 2 for a plan view of the Gratien Gold Zone, Figure 3 for a longitudinal of Gratien, Figure 4 for a cross section displaying the Gratien mineralization, Figure 5 for images of gold mineralization in Gratien, Figure 6 for a plan view of the Team and E3 Gold Zones, Figure 7 for images of gold mineralization in Team and E3 Gold Zones, Tables 1-3 for assay results, and Table 4 for drillhole coordinates.

Highlights include:

Western Extension Gratien Zone

PEG-24-728 returned 3.50 m of 29.00 g/t Au, including 0.50 m of 185.08 g/t Au at a vertical depth of ~120 m in the Gratien Gold Zone;
PEG-24-730 returned 3.00 m of 18.66 g/t Au, including 0.60 m of 76.53 g/t Au at a vertical depth of ~60 m in the Gratien Gold Zone;

E3 Zone

PE-23-660 returned 3.00 m of 17.52 g/t Au at a vertical depth of ~55 m in the E3 Gold Zone;

Team Zone

PE-23-668 returned 21.10 m of 1.03 g/t Au including 2.70 m of 2.56 g/t Au and 2.20 m of 3.62 g/t Au at a vertical depth of ~405 m in the Team Zone; and
PE-23-674 returned 22.20 m of 0.92 g/t Au including 0.50 m of 8.45 g/t Au and 1.30 m of 6.99 g/t Au at a vertical depth of ~255 m in the Team Zone.

Results from PEG-24-728 and PEG-24-730 are the highest-grade intercepts seen to date on the western portion of Gratien and opens up an entirely new area for continued expansion. By referring to the longitudinal of Gratien in Figure 3, it can be observed that these heavily mineralized centimetric quartz-carbonate veins were found in a previously untested portion of Gratien West and appear to be a at-depth extension of the existing zone. Gold mineralization is hosted in quartz-carbonate veins parallel to iron formations and straddling mafic intrusions within the Normétal South Block. Additional drill holes have been planned to further define this new high-grade extension.

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "The Amex team is extremely encouraged by these new high-grade results from a new western extension of Gratien. We were truly impressed by the quantity of visible gold mineralization observed in these veins. A significant amount of drilling is planned around these intercepts to test their western extension and continuation at depth. Due to the cut-off date for the drilling database, the new western extension Gratien drilling will not be included in the resource estimate which is expected to be delivered in Q1 2024 and this area represents blue sky potential for the Perron property."

Drill results from the Team and E3 Gold Zones are focused on further definition and expansion of these zones. As can be observed in Figure 6, the two zones are found straddling the northern contact of the rhyolitic Beaupré Block, which is separated from the Normétal Volcanic Complex to the north by the Normétal Fault. The Team Zone remains open and the potential exists to join the Team Zone to the E3 Gold Zone with further exploratory drilling.

Mr. Trottier continued, "Also of significant importance, today's results continue to enhance and further define the Team Zone in addition to expanding upon the existing footprint of the E3 Gold Zone. By looking at the plan map, it can be clearly observed that there is a gap in the drilling between these two zones, with infill drilling, the potential exists to create one, large mineralized system. As we continue to prepare the mineral resource estimate, these results add important information to our database to better define our 3D modelling."

Figure 1: Geological map of the Perron Project, showing each of the significant mineralized zones identified to date, including the Team Zone, E3 Gold Zone and Gratien Gold Zone.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/198533_d21ede8004ad880d_002full.jpg

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/198533_d21ede8004ad880d_003full.jpg

Figure 3: Longitudinal section of the Gratien Gold Zone looking to the south. Showing contoured metal factor (Au g/t*core length) and the location of today's released drill holes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/198533_d21ede8004ad880d_004full.jpg

Figure 4: Cross section of the Gratien Gold Zone and the locations of today's released drillholes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/198533_d21ede8004ad880d_005full.jpg

Figure 5: Highlight photos of the Gratien Gold Zone in drillhole PEG-24-728. Gold mineralization is associated with centimetric quartz-carbonate veins and contains visible gold. Abbreviation: VG - Visible Gold.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/198533_d21ede8004ad880d_006full.jpg

Figure 6: Geological map of 210 Gold Zone, Team Zone and E3 Gold Zone of the Perron property, showing gold mineralization greater than 0.50 g/t Au. The outline of the zone identified on the map represents the surface expression of mineralization at depth.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/198533_d21ede8004ad880d_007full.jpg

Figure 7: Highlight photos of the Team Zone in drillholes PE-23-674, PE-23-656 and the E3 Gold Zone in drillhole PE-23-660. Gold mineralization is associated with tension style quartz-sulfide veins and contains visible gold. Abbreviation: VG - Visible Gold.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/198533_d21ede8004ad880d_008full.jpg

Table 1: Assay results from the Gratien Zone at Perron.

Hole ID	From (m)	To (m)	Core length (m)	Au (g/t)	Ag (g/t)	Vertical depth (m)	*Metal Factor (g/t Aum)*
PEG-24-728	142.50	146.00	3.50	29.00	4.06	~120	101.51
Including	142.50	143.00	0.50	9.30	1.50	~45	4.65
Including	145.00	145.50	0.50	185.08	21.50	~45	92.54
And	158.20	159.60	1.40	3.02	0.60	~135	4.23
And	176.20	176.80	0.60	1.07	0.10	~150	0.64
PEG-24-730	68.00	71.00	3.00	18.66	0.83	~60	55.99
Including	68.00	68.60	0.60	76.53	2.00		45.92
Including	69.10	70.15	1.05	9.15	1.10		9.61
And	182.20	183.00	0.80	1.12	0.30	~170	0.89

*Metal factor is defined as gold grade multiplied by core length.

Table 2: Assay results from the Team Zone at Perron.

Hole ID	From (m)	To (m)	Core length (m)	Au (g/t)	Ag (g/t)	Vertical depth (m)	*Metal Factor (g/t Aum)*
PE-23-622	166.50	170.50	4.00	0.30	0.10	~ 115	1.21
PE-23-624	129.00	136.00	7.00	1.15	0.13	~110	8.02
Including	130.50	131.10	0.60	8.50	0.50	~110	5.10
PE-23-629	34.70	35.20	0.50	6.39	0.20	~25	3.20
And	129.00	135.00	6.00	0.54	0.21	~110	3.21
PE-23-652	64.65	67.30	2.65	1.27	0.25	~50	3.35
PE-23-654	225.20	226.00	0.80	1.26	0.40	~190	1.01
And	332.20	334.00	1.80	0.85	0.10	~290	1.52
PE-23-656	89.50	90.50	1.00	2.15	0.10	~ 80	2.15
And	198.70	217.00	18.30	0.60	0.23	~ 180	10.98
Including	200.20	200.80	0.60	6.69	1.60	~ 180	4.01
And	290.50	292.00	1.50	1.52	0.10	~ 250	2.28
And	381.00	382.00	1.00	1.07	0.10	~ 325	1.07
And	408.00	408.50	0.50	14.37	2.60	~ 350	7.19
And	439.45	440.50	1.05	8.26	0.60	~ 375	8.67
PE-23-657	260.50	262.60	2.10	0.74	0.10	~ 220	1.55
PE-23-659	99.10	100.20	1.10	2.24	0.10	~85	2.47
PE-23-665	337.70	340.60	2.90	0.54	0.12	~ 290	1.56
And	506.85	507.80	0.95	10.94	2.20	~ 425	10.39
PE-23-668	219.20	220.70	1.50	1.97	0.10	~ 185	2.96
And	286.00	287.30	1.30	4.94	0.20	~ 240	6.42
And	429.10	440.50	11.40	0.50	0.11	~ 355	5.71
Including	429.10	430.50	1.40	1.94	0.10	~ 355	2.71
And	481.90	503.00	21.10	1.03	0.38	~ 405	21.78
Including	481.90	484.60	2.70	2.56	0.45		6.91
Including	500.80	503.00	2.20	3.62	0.83		7.96
PE-23-674	53.10	56.60	3.50	1.52	0.15	~ 45	5.32
Including	56.00	56.60	0.60	6.34	0.40	~ 45	3.80
And	216.30	217.40	1.10	3.74	0.95	~ 185	4.11
And	227.00	227.80	0.80	2.23	0.80	~ 195	1.78
And	290.80	313.00	22.20	0.92	0.41	~ 255	20.42
Including	301.00	301.50	0.50	8.45	2.30		4.23
Including	311.70	313.00	1.30	6.99	3.60		9.09
PE-23-677	101.00	101.50	0.50	3.74	0.20	~ 85	1.87
And	176.30	176.80	0.50	7.10	1.10	~ 150	3.55
And	200.50	204.50	4.00	0.62	0.10	~ 170	2.47
And	211.50	215.90	4.40	1.31	0.09	~ 175	5.76
And	422.50	424.00	1.50	1.48	0.20	~ 350	2.22

*Metal factor is defined as gold grade multiplied by core length.

Table 3: Assay results from the E3 Gold Zone at Perron.

Hole ID	From (m)	To (m)	Core length (m)	Au (g/t)	Ag (g/t)	Vertical depth (m)	*Metal Factor (g/t Aum)*
PE-23-653	275.00	275.90	0.90	4.11	0.50	~ 240	3.70
PE-23-660	11.50	16.10	4.60	0.56	0.15	~ 10	2.56
And	20.50	22.00	1.50	0.72	0.10	~ 20	1.08
And	62.50	65.50	3.00	17.52	0.10	~ 55	52.57
And	187.50	194.00	6.50	0.55	0.24	~ 165	3.55
And	251.50	253.00	1.50	0.88	0.30	~ 215	1.31
And	403.00	403.80	0.80	1.61	0.20	~ 340	1.28
PE-23-671	130.20	131.70	1.50	0.67	0.10	~ 115	1.01

*Metal factor is defined as gold grade multiplied by core length.

Table 4: Drillhole coordinates for today's results.

Hole Id	Azimuth (°)	Dip (°)	Start (m)	End (m)	Length (m)	Easting (m)	Northing (m)	Elevation (m)
PE-23-622	150	-45	0	349	349	615457	5430944	352
PE-23-624	310	-60	0	523	523	615444	5430937	352
PE-23-629	310	-60	0	493	493	615284	5430965	351
PE-23-652	310	-60	0	520	520	615136	5431015	348
PE-23-653	130	-60	0	414	414	615525	5430769	349
PE-23-654	310	-60	0	520	520	615239	5430870	347
PE-23-656	310	-60	0	520	520	615553	5430820	350
PE-23-657	310	-60	0	511	511	615117	5430968	347
PE-23-659	310	-60	0	526	526	615213	5430837	345
PE-23-660	130	-60	0	412	412	615554	5430817	350
PE-23-665	310	-60	0	523	523	615507	5430841	351
PE-23-668	310	-60	0	523	523	615532	5430889	351
PE-23-671	120	-60	0	400	400	615535	5430887	351
PE-23-674	310	-60	0	523	523	615465	5430863	351
PE-23-677	310	-60	0	518	518	615483	5430912	351
PEG-24-728	185	-59	0	258	258	612538	5431044	328
PEG-24-730	202	-72	0	300	300	612538	5431045	328

Qualified Person and QA&QC

About Amex

For further information please contact:

Victor Cantore
President and Chief Executive Officer
Amex Exploration: +1-514-866-8209

Forward-Looking statements

This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the planned exploration program on the HGZ and Denise Zone, the expected positive exploration results, the extension of the mineralized zones, the timing of the exploration results, the ability of the Company to continue with the exploration program, the availability of the required funds to continue with the exploration and the potential mineralization or potential mineral resources are forward-looking statements. Forward-Looking statements are generally identifiable by use of the words "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "to earn", "to have', "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-Looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/198533

Montreal, Quebec--(Newsfile Corp. - March 18, 2024) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or the "Company") is pleased to report the metallurgical test work from the Denise, Gratien, Grey Cat and Team gold zones (Figure 1). The overall gold recoveries achieved (gravity + flotation + leaching) tests showed excellent recovery > 95% in all samples and > 98% on high-grade samples (Table 1). For a full list of the metallurgical test results, please see Tables 1-6 below.

As a reminder, on November 11, 2020, Amex reported metallurgy results from High Grade Zone (HGZ), where all three composites returned better than 99% gold recovery using a simple flowsheet. Both low and high-grade composites were tested for all zones. Metallurgical work was completed by SGS Canada Inc., a leader in metallurgical and analytical studies.

Jacques Trottier, PhD, Executive Chairman of the Board of Amex Exploration commented, "This metallurgical work is important data for the upcoming Preliminary Economic Assessment study that we plan to release in the coming months. I am pleased to see such incredibly high gold recoveries from each of our major gold zones defined to date. Better than 95% gold recovery means our ore is easily processable at virtually every mill in the Abitibi, providing us with additional production optionality as we consider various economic scenarios for mining at Perron."

The following sections are extracts from the test work obtained from SGS Laboratories, which have been verified by authorized metallurgists.

Figure 1. Geological map of the Perron Project, showing each of the significant mineralized zones identified to date.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/202075_4af20bf764c5793b_002full.jpg

Table 1: Final results (gravity + flotation + leaching) from the metallurgical test work completed from multiple gold zones across the Perron property.

	Recovery
	Gravity	Gravity + Flot	Gravity +	Gravity	Gravity + Flot	Gravity +
	Gravity	Gravity + Flot	Flot + CN	Gravity	Gravity + Flot	Flot + CN
Test #	Au	Au	Au	Ag	Ag	Ag
	%	%	%	%	%	%
GC-HG	41.7	84.1	97.4	45.6	51.5	60.8
GC-MHG	57.2	90.2	97.9	7.2	22	37.2
G-LG	72.1	94.9	98.9	14.2	28.7	42.6
GA-HG	66.8	92.8	99.8	40.2	80.1	85.1
GR-HG	34.3	95.5	99.7	17.9	77.2	81.6
WD-HG	69.9	93.5	98.8	21.3	36.8	49.1
WD-MG	66.3	93.3	98.9	66.2	80.9	87.1
WD-LG	14.0	74.3	94.6	3.0	14.8	31.3
TZ-LG	57.3	92.4	99.1	20.6	39.9	51.5
TZ-HG	44.8	87.4	98.4	17.5	32.3	45.5
TZ-MG	57.1	90.2	99.2	20.6	39.9	51.6
Legend GC-HG = Grey Cat - High Grade* GC-MHG = Grey Cat - Medium High Grade G-LG = Gratien (Andesite) - Low Grade GA-HG = Gratien Andesite - High Grade GR-HG = Gratien Rhyolite - High Grade WD-HG = Western Denise - High Grade WD-MG = Western Denise - Medium Grade WD-LG = Western Denise - Low Grade TZ-LG = Team Zone - Low Grade TZ-HG = Team Zone - High Grade TZ-MG = Team Zone - Medium Grade

Sample Preparation

Thirteen composites' samples of half core were delivered. Three of the first samples (Grey Cat Zone) were combined to have more material for the test program, then reducing the composites samples for tests to eleven (Table 1). Each sample was stage crushed with a combination of jaw, cone and roll crusher to 100% passing 6 mesh. The sample was homogenized, and a 10 kg sub-sample was rotary split for bond ball mill work index testing (BWI) and the remainder was crushed to 100% passing 10 mesh. The sample was homogenized, and rotary split into 10 kg test charges and a 1 kg head assay charge.

Head Characterization

Gold Analysis by Screened Metallics

The 1 kg charges from each sample were submitted for gold analysis using the screened metallics protocol. This method is recommended when the ore is suspected to contain coarse, gravity recoverable gold. The method involves several stages of pulverizing and screening the pulverized sample at 150 mesh (106 µm) until approximately 20-30 g of material remains in the screen oversize. The screen oversize and duplicate samples of the final combined screen undersize are submitted for chemical analysis and the head assay of the sample calculated from the relative distribution of the screened fractions. The results shown in Table 2 below indicate gold grades ranging from 0.46 g/t to 11.7 g/t, and high gravity recoverable gold, greater than 15% (favorable for gravimetric circuit) for all samples except one sample.

Table 2: Head Assays.

Sample	Head Au (g/t)	+150mesh		-150mesh			% Distribution
Sample	Head Au (g/t)	Wt. %	g/t	Wt. %	g/t Au A	g/t Au B	+150mesh	-150mesh
GC-HG	3.98	2.63	18.7	97.4	3.76	3.41	12.3	87.7
GC-MHG	0.52	2.56	3.97	97.4	0.67	0.36	3.49	96.5
G-LG	1.27	3.63	7.70	96.4	1.21	1.00	16.1	83.9
GA-HG	11.7	2.62	226	97.4	5.78	6.16	50.3	49.7
GR-HG	5.15	1.78	44.8	98.2	4.33	4.54	15.4	84.6
WD-HG	2.50	1.62	87.9	98.4	1.88	0.88	45.7	54.3
WD-MG	8.11	3.38	138	96.6	3.67	3.45	57.6	42.4
WD-LG	0.46	3.38	0.44	96.6	0.43	0.49	3.38	96.6
TZ-LG	0.91	4.12	8.70	95.9	0.63	0.52	39.4	60.6
TZ-HG	1.36	3.15	6.46	96.9	1.26	1.12	15.3	84.7
TZ-MG	2.49	3.27	34.4	96.7	1.42	1.39	45.4	54.6

Comminution Test Work

Bond Ball Mill Grindability Test

The bond ball mill grindability test was completed on each of the eleven samples. A summary of the test results is presented in Table 3. With bond work index (BWI) values ranging from 14.1 to 20.0 kWh/t, the samples were found to be moderately hard to hard compared to the SGS database.

Table 3: Bond Ball Mill Grindability Test Results.

Sample ID	Mesh of Grind	F80 (µm)	P80 (µm)	Gram per Revolution	Work Index (kWh/t)	Hardness Percentile	Category
GA-HG	100	2319	117	1.66	14.3	50	Medium
GC-HG	100	2454	115	1.08	20	93	Very Hard
GC-MHG	100	2476	114	1.22	17.9	84	Hard
G-LG	100	2389	114	1.34	16.6	76	Hard
GR-HG	100	2517	114	1.28	17.2	80	Hard
TZ-HG	100	2502	114	1.37	16.2	73	Moderately Hard
TZ-LG	100	2441	112	1.40	15.8	68	Moderately Hard
TZ-MG	100	2317	112	1.49	15.1	60	Moderately Hard
WD-HG	100	2471	111	1.55	14.5	52	Medium
WD-LG	100	2547	113	1.40	15.8	68	Moderately Hard
WD-MG	100	2471	109	1.57	14.1	48	Medium

Metallurgical Test Work

Gravity Separation

A single gravity separation test was completed on each composite, evaluating the potential for gravity recoverable gold and silver at a coarse primary grind size (P₈₀ ranging from 184-416 µm) using a Knelson MD-3 concentrator. The Knelson concentrate was submitted for chemical analysis with the tailings subsampled for chemical analysis and flotation testing. The gravity test results are summarized in Table 4.

The Knelson concentrate represents the achievable gravity recovery and was able to recover 34 % to 72 % at gold concentrations of 381 g/t Au and 4711 g/t Au, showing that all samples were very amenable to the gravity separation process; except one sample with lowest grade showed 14% recovery and 39 g/t Au.

Table 4: Gravity Test Results.

Sample	Product	Weight	wt.	Assays, g/t		% Distribution
Sample	Product	g	%	Au	Ag	Au	Ag
GC-HG	Gravity Concentrate	5.9	0.1	2092	407	42	46
	Gravity Tail	5720	99.9	3.02	< 0.5	58	54
	Calculated Head	5726	100	5.17	0.92	100	100
	Direct Head	-	100	2.71	0.9
GC-MHG	Gravity Concentrate	7.5	0.08	381	50	57	7
	Gravity Tail	9689	99.9	0.22	< 0.5	43	93
	Calculated Head	9696	100	0.51	0.54	100	100
	Direct Head	-	100	1.76	0.8
G-LG	Gravity Concentrate	14.2	0.15	499	57	72	14
	Gravity Tail	9770	99.9	0.28	< 0.5	28	86
	Calculated Head	9784	100	1	0.58	100	100
	Direct Head	-	100	2.24	0.8
GA-HG	Gravity Concentrate	9.2	0.09	4711	718	67	40
	Gravity Tail	9835	99.9	2.19	1	33	60
	Calculated Head	9844	100	6.59	1.67	100	100
	Direct Head	-	100	4.22	0.9
GR-HG	Gravity Concentrate	5.6	0.11	1168	453	34	18
	Gravity Tail	5071	99.9	2.47	2.3	66	82
	Calculated Head	5077	100	3.76	2.8	100	100
	Direct Head	-	100	2.77	0.9
WD-HG	Gravity Concentrate	7.9	0.08	1169	166	70	21
	Gravity Tail	9696	99.9	0.41	< 0.5	30	79
	Calculated Head	9704	100	1.36	0.64	100	100
	Direct Head	-	100	5.83	1.6
WD-MG	Gravity Concentrate	10.6	0.11	3083	906	66	66
	Gravity Tail	9831	99.9	1.69	< 0.5	34	34
	Calculated Head	9841	100	5.01	1.48	100	100
	Direct Head	-	100	4.07	2.5
WD-LG	Gravity Concentrate	11.4	0.12	39	13	14	3
	Gravity Tail	9802	99.9	0.28	< 0.5	86	97
	Calculated Head	9813	100	0.33	0.51	100	100
	Direct Head	-	100	3.01	1
TZ-LG	Gravity Concentrate	7.1	0.08	1757	168	57	21
	Gravity Tail	9193	99.9	1.01	0.5	43	79
	Calculated Head	9200	100	2.37	0.63	100	100
	Direct Head	-	100	4.25	1.1
TZ-HG	Gravity Concentrate	8.3	0.14	540	75	45	17
	Gravity Tail	5878	99.9	0.94	< 0.5	55	83
	Calculated Head	5887	100	1.7	0.61	100	100
	Direct Head	-	100	4.57	1.2
TZ-MG	Gravity Concentrate	5.7	0.06	1628	217	57	21
	Gravity Tail	9549	99.9	0.73	< 0.5	43	79
	Calculated Head	9555	100	1.7	0.63	100	100
	Direct Head	-	100	2.57	2.9

Flotation

A single flotation test was completed on a 2 kg subsample of each of the gravity tailings to evaluate the potential for additional gold recovery. A simple reagent scheme of 40 g/t potassium amyl xanthate (PAX) as collector and 20 g/t methyl isobutyl carbinol (MIBC) as frother was used at natural pH. The total flotation time was 10 minutes. Subsamples of the rougher concentrate and rougher tailings were submitted for chemical analysis and half of the rougher tails were forwarded to cyanide leaching. The flotation test results are summarized in Table 5.

Table 5: Flotation Test Results

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/202075_4af20bf764c5793b_003full.jpg

The flotation conditions used recovered 70.1% to 93.1% of the gold, which represents 15.9% to 96.0% of the sulphur. Although the recoveries are quite good, it is likely that the gold and silver recovered to the flotation concentrate would be recoverable through direct cyanidation of the gravity tails. The overall gold recoveries achieved (gravity + flotation) tests showed excellent recovery in all the samples, ranging from 74.3% to 95.5%.

Cyanide Leaching

A single cyanide leach test was completed on a sub-sample of each flotation tailing reground to a P80 of ~90 µm to evaluate the recovery of the remaining gold in the sample by bottle roll cyanide leaching. Each sample was leached at a density of 50% solids, with 0.5 g/L cyanide and maintained for 48 hours at pH 10.5 to 11.0. The cyanidation test results are summarized in Table 6.

Table 6: Cyanidation Test Results

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/202075_4af20bf764c5793b_004full.jpg

The cyanidation test conditions used gave excellent results, recovering 79.0 % to 96.7 % of the gold contained in the flotation tailings to the pregnant leach solution after 48 hours.

The overall gold recoveries achieved (gravity + flotation + leaching) tests showed excellent recovery > 95% in all samples and > 98% on high-grade samples.

*Caution - results are preliminary in nature, with the final report expected in the following weeks. Results are not expected to change.

Qualified Person and QA&QC

Metallurgical test work was completed by SGS Canada Inc. at its Quebec City testing centers. SGS is the world's leading inspection, verification, testing and certification company. SGS is recognized as the global benchmark for quality and integrity. With more than 99,600 employees, SGS operates a network of over 2,600 offices and laboratories around the world.

About Amex

For further information please contact:

Victor Cantore
President and Chief Executive Officer
Amex Exploration: +1-514-866-8209

Forward-looking statements

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/202075

Montreal, Quebec--(Newsfile Corp. - January 3, 2024) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or the "Company") is pleased to announce a number of drill holes focused on definition drilling of the Eastern High Grade Zone ("Eastern HGZ"), of the Perron Project in the Abitibi region of Quebec. Today's drill results are focused on further definition of the Eastern HGZ at depth. See Figure 1 for a plan view of the geology of the Perron Project, Figure 2 for a plan view of the geology of the Eastern Gold Zone, Figure 3 for a longitudinal section of the High Grade Zone, Figure 4 for images of gold mineralization, Table 1 for assay results, and Table 2 for drillhole coordinates.

Highlights include:

PE-21-318W3 returned 4.30 m of 23.81 g/t Au including 2.00 m of 50.35 g/t Au at a vertical depth of ~1,100 m;

PE-21-318W4 returned 6.55 m of 9.57 g/t Au including 1.25 m of 45.34 g/t Au at a vertical depth of ~1,150 m; and

PE-21-347W3 returned 3.50 m of 5.10 g/t Au including 0.50 m of 24.19 g/t Au at a vertical depth of ~1,000 m.

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "Today's results are focused on the definition drilling of the Eastern High Grade Zone at depth. As the Amex team continues to work towards releasing a resource estimate in 2024, tighter drill spacing is required to be able to properly classify both indicated and inferred resources. Even at a vertical depth of well over a kilometre now, the High Grade Zone continues to show remarkable continuity, which bodes well for the potential extraction of the orebody."

Figure 1. Geological map of the Perron Project, showing each of the significant mineralized zones identified to date.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/193046_1d031bf42484e9c7_002full.jpg

Figure 2. Plan view of the geology of the Eastern Gold Zone showing each of the significant gold mineralized zones, including the HGZ and Denise Zone.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/193046_1d031bf42484e9c7_003full.jpg

Figure 3: Longitudinal section of the High Grade Zone looking to the south, showing contoured metal factor (Au g/t * estimated true thickness) and the locations of today's released drill holes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/193046_1d031bf42484e9c7_004full.jpg

Figure 4. Photos of visible gold from today's released drill holes, including PE-21-318W3 and PE-21-318W4. VG = Visible Gold.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/193046_1d031bf42484e9c7_005full.jpg

Table 1. Assay results from the Eastern High Grade Zone at Perron.

Hole ID	From (m)	To (m)	Core length (m)	True thickness (m)	Au (g/t)	Metal Factor*	Vertical depth (m)
PE-21-318W3	1,198.70	1,203.00	4.30	2.05	23.81	48.81	~1,100
Including	1,198.70	1,200.70	2.00	0.95	50.35	47.83
Including	1,198.70	1,199.20	0.50	0.24	178.79	42.91
PE-21-318W4	1,234.85	1,241.40	6.55	2.23	9.57	21.34	~1,150
Including	1,234.85	1,236.10	1.25	0.42	45.34	19.04	~1,150
PE-21-347W3	1,063.00	1,066.50	3.50	1.83	5.10	9.33	~1,000
Including	1,065.50	1,066.00	0.50	0.26	24.19	6.29	~1,000

*Metal factor is defined as gold grade multiplied by true thickness

Table 2. Drillhole coordinates for today's results.

Hole ID	Azimuth (°)	Dip (°)	Start (m)	End (m)	Length (m)	Easting (m)	Northing (m)	Elevation (m)
PE-21-318W3	162	-74	695	1,230	535	614875	5431227	348
PE-21-318W4	162	-74	1046	1,256	210	614875	5431227	348
PE-21-347W3	158	-77	681	1,104	423	614834	5431120	345

Corporate Update

Further to the news release issued October 23, 2023 and the engagement of ITG (Independent Trading Group) to provide market making services, and at the request of the TSXV, the Company adds that ITG is a Toronto based CIRO dealer-member that specializes in market making, liquidity provision, agency execution, ultra-low latency connectivity, and bespoke algorithmic trading solutions. Established in 1992, with a focus on market structure, execution and trading, ITG has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors. The services commenced on October 23, 2023 and shall continue on a month-to-month basis until terminated by either party upon 30 days prior written notice.

Qualified Person and QA&QC

Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), an independent "qualified person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects (the "Qualified Person"), has reviewed and approved the geological information reported in this news release. The drilling campaign and the quality control program have been planned and supervised by Jérôme Augustin. Core logging and sampling were completed by Laurentia Exploration. The quality assurance and quality control protocols include insertion of blank or standard samples every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard samples accredited by Laboratoire Expert during the analytical process.

For all analyses targeting gold mineralization, gold values are estimated by fire assay with finish by atomic absorption. Values over 3 ppm Au are reanalyzed by fire assay with finish by gravimetry by Laboratoire Expert Inc, Rouyn-Noranda. Samples containing visible gold mineralization are analyzed by metallic sieve. For additional quality assurance and quality control, all samples were crushed to 90% less than 2 mm prior to pulverization, in order to homogenize samples which may contain coarse gold.

Exploration results that include drill results on wide spacings may not be indicative of the occurrence of a mineral deposit, as such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics and economic potential to be classed as a category of mineral resource. The potential quantities and grades of drilling targets disclosed in this news release are conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the targets being delineated as mineral resources.

About Amex

For further information please contact:

Victor Cantore
President and Chief Executive Officer
Amex Exploration: +1-514-866-8209

Forward-looking statements

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/193046

Montreal, Quebec--(Newsfile Corp. - January 16, 2024) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or the "Company") is pleased to announce a non-brokered charity flow-through private placement of 11,344,130 charity flow-through shares (each, a "CFT Share") at a price of C$2.35 per CFT Share to raise aggregate gross proceeds of C$26.65 million (the "Offering").

Following completion of the Offering, Eldorado Gold Corporation (TSX: ELD) (NYSE: EGO) ("Eldorado") has agreed to make a strategic investment in the Company through the purchase of 11,344,130 common shares of the Company (the "Strategic Investment") issued pursuant to the Offering, for a purchase price of C$15 million. Upon closing, the Strategic Investment represents approximately a 9.9% ownership interest in the Company's issued and outstanding common shares on a non-diluted basis. In connection with the Strategic Investment, the Company has granted Eldorado a customary anti-dilution right to maintain its equity ownership interest.

Victor Cantore, President and CEO of Amex commented, "We are very pleased to welcome Eldorado as a strategic shareholder and look forward to leveraging their considerable mining expertise as a high-grade, low-cost gold producer in the Abitibi. This investment represents a strong endorsement of the work conducted at the Perron project to date, and leaves us well capitalized to pursue a dual strategy of advancing known zones of gold mineralization while continuing to unlock significant exploration potential through targeting new discoveries. We feel we have only scratched the surface of the gold potential at Perron. In addition, the Company is well funded to produce a resource estimate and follow on Preliminary Economic Assessment of the Perron project."

Each CFT Share will qualify as a "flow-through share" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Québec)). The gross proceeds from the Offering will be used to advance the Company's Perron project in Quebec, which will qualify as "Canadian Exploration Expenses" and "flow-through mining expenditures," as those terms are defined in the Income Tax Act (Canada), which will be renounced to the initial purchasers of the CFT Shares with an effective date no later than December 31, 2024. In addition, with respect to Quebec resident CFT Share subscribers who are eligible individuals under the Taxation Act (Quebec), the Canadian exploration expenses will also qualify for inclusion in the "exploration base relating to certain Quebec exploration expenses" within the meaning of Section 726.4.10 of the Taxation Act (Quebec) and for inclusion in the "exploration base relating to certain Quebec surface mining expenses or oil and gas exploration expenses" within the meaning of Section 726.4.17.2 of the Taxation Act (Quebec).

The closing of the Offering is expected to occur on or before February 2, 2024 and is subject to the satisfaction of certain conditions, including receipt of acceptance of the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a hold period of four months and one day from the date of closing, in accordance with applicable Canadian securities laws.

PI Financial Corp. is acting as financial advisor to the Company in connection with the Strategic Investment. Irwin Lowy LLP is serving as legal counsel to the Company.

About Amex

Amex Exploration Inc. is an exploration company with projects in Quebec.

For further information please contact:

Victor Cantore
President and Chief Executive Officer
Amex Exploration: +1-514-866-8209

Forward-Looking Statements

NOT FOR DISTRIBUTION IN THE UNITED STATES OF AMERICA

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/194396

TSXV: AMX

OTC: AMXEF

Amex Reports 3.43% Cu, 34.00 g/t Ag, 1.80% Zn and 0.30 g/t Au over 20.80 m From QF Zone

Amex Expands Gratien Zone with the Best Intersect to Date of 76.69 g/t Au over 3.50 m

Amex to Consolidate Team Zone with 210 and E3 Gold Zones to Form a 1.4 km Mineralized Corridor and Announces Further Drill Results

Amex Exploration Announces Closing of C$26 Million Private Placement, Including a Strategic Investment by Eldorado Gold

Amex Intersects 29.00 g/t Au over 3.50 m in New Western Extension of Gratien Gold Zone, Reports on Definition and Expansion of Team and E3 Gold Zones

Amex Exploration Announces Metallurgical Results with Greater Than 95% Gold Recovery from Major Gold Zones at Perron

Amex Further Defines High Grade Zone at Depth with Results up to 23.81 g/t Au over 4.30 m and Provides Corporate Update

Amex Exploration Announces C$26 Million Private Placement, Including a Strategic Investment by Eldorado Gold

Market Price:	$1.71
Change Percent:	-2.29%

Market Price:	$1.26
Change Percent:	-2.09%