Perron West

The Perron West Project consists of 48 contiguous claims comprising 17.37 km² adjoining the Perron Project to the west and the south in the Abitibi-Témiscamingue region of the province of Quebec and 33 multi-cell and 2 single-cell contiguous mining claims comprising 134.55 km² in the Abbotsford, Adair and Hepburn Townships in the province of Ontario, representing a total area of 151.92 km².  When combined with the flagship Perron Project the combined land package forms a district scale property totalling 197.52 km² of highly prospective geology favourable to host high grade gold as well as Volcanic Massive Sulfide (VMS) mineralization. 

The Perron West Project importantly holds the continuation of the Normétal-Burntbush greenstone belt, that crosses over into Ontario. Perron West bears a number of geological similarities to the existing Perron Project, including a potential mirror image of the prolific Beaupré Block rhyolite, which hosts all the gold discoveries found by Amex to date, including the ultra-rich Champagne Zone.

Geological map of the Normétal-Burntbush greenstone belt, showing the Perron Project and Amex’s newly acquired Perron West Project. The Perron West Project consists of 48 CDC claims in Quebec for 17.37 km² and 33 multi-cell and 2 single-cell claims in Ontario for 134.55 km², for a total of 151.92 km².

After analysing the regional geological framework of the Normétal-Burntbush greenstone belt, the Company identified the exceptional potential of the Perron West Property for further, high-grade gold discoveries. As can be seen on the map, regional deformation of the belt is determined as dextral movement, with pulses of mineralization interpreted to have been emplaced during D2 deformation events. As such, Amex sees two large potential areas for gold mineralization on the project being:

1. A “mirror” of the Beaupré Block. As seen on the map, rhyolites with similarities to that at Beaupré have been observed on the property. In addition, these rhyolites are already host to multiple gold showings, as discussed in next section.

2. The major Normétal Fault and its interaction with the Patten Pluton. As previously reported in last weeks 2025 regional drill plan (see February 20, 2025 Press Release), a major regional focus has been placed on the contacts of the Patten Pluton with the surrounding volcanics. Multiple gold-in-soil anomalies are scheduled to be tested at Perron on the eastern edges of the pluton, while the western edges host additional gold-in-soil anomalies at Perron West.

The Company envisages that, given the geological similarities of the Perron West Project to the Perron Project, that any significant discoveries made would be able to share the same infrastructure in Amex’s existing Preliminary Economic Assessment (PEA) (see November 13, 2024 Press Release).

Simplified regional geology showing the outline of Perron (in red) and the newly acquired Perron West (in black). Highlighted in red is the Beaupré rhyolite of Perron and one of the rhyolites at Perron West that displays similarities. Model of regional deformation shows dextral movement with stress directions shown with blue arrows.

Previous work completed on the claim package includes VTEM, M-PASS and LiDAR airborne geophysical surveys, obtaining orthophotos and a soil sampling program.

Anomalous gold results from the 2023 soil sampling program, in close proximity to the existing Goldhill showing, returned 1.75 g/t Au (1746 ppb Au) from a sonic drill hole to test the overburden and is yet to be followed up on.

Anomalous gold results from soil sampling program completed in 2023 showing a northwest trend, which aligns well with a major structural lineament on the property

An additional example of highly anomalous results for gold in historical overburden drilling. High grade base metal results from historical diamond drilling also display the projects significant VMS potential.

GEOPHYSICAL COMPILATION AND ANALYSIS WORK

In addition, compilation and analysis work was completed on the geophysical data package and the soil sampling by ALS Goldspot to provide targets, which are yet to be tested.

Geophysical compilation and analysis work completed by ALS Goldspot that defined targets for a future field program. Geophysical targets are outlined in green, some of which match with existing gold anomalies and showings.