Mr. Jacques Trottier reports

AMEX CLOSES $419,600 PRIVATE PLACEMENT

Amex Exploration Inc. has closed a non-brokered private placement of an aggregate amount of $419,600, through the sale of 3.9 million flow-through units (FT units) and 370,000 regular units, respectively priced at 10 cents and eight cents each.

The FT units are composed of one flow-through common share and one-half of one common share purchase warrant, and the regular units consist of one common share and one full warrant. The warrants can be exercised at the price of 13 cents for a period of 24 months following the closing date.

In connection with the private placement, Amex paid a finder's fee to Secutor Capital Management Corp. in the amount of $29,372 and issued 298,900 finder's warrants. Each finder's warrant entitles the holder to purchase one common share, at a price of nine cents, for a period of 24 months following the closing date.

The gross proceeds from the sale of the flow-through shares will be used to finance the corporation's exploration program on its properties located in the province of Quebec, and the net proceeds from the sale of the common shares will be used by the corporation for general working capital purposes.

All securities issued pursuant to the private placement are subject to a four-month-and-one-day hold period. The private placement is subject to the receipt of all necessary regulatory approvals, including the final approval of the TSX Venture Exchange.