Dr. Jacques Trottier reports

AMEX REPORTS 87.14 G/T AU OVER 2.30 M INCLUDING 394.41 G/T AU OVER 0.50 M FROM TEAM ZONE AS WELL AS INITIAL DRILL RESULTS FROM N110 GOLD CORRIDOR

Amex Exploration Inc. has released assay results from follow-up and expansion drill holes on the Team zone on the Perron project in the Abitibi region of Quebec. The Team zone occurs approximately 600 metres to the northeast of the high-grade zone (HGZ). The Team zone is currently outlined over 400 m by 200 m laterally and from surface to a depth of approximately 400 m. Also reported are intercepts from the spatially associated 210 gold zone, which seems to follow a structural trend along the Normetal fault zone and may be genetically related to the Team zone. See an attached table for a list of the today's drilling results.

In addition, Amex has released assay results from the newly discovered N110 gold corridor, which is located north of the Gratien gold zone, and the eastern extents of the property along the projected extension of the Beaupre rhyolite, which is the host to the majority of the gold identified on the Perron project to date (see an attached table for a list of drill results). The N110 gold corridor was identified through a structural interpretation of the company's magnetic data set and scattered historical gold intercepts.

Dr. Jacques Trottier, PhD, executive chairman of Amex Exploration, commented: "I am pleased to see continued high-grade mineralization from the Team zone. Our drilling is focused on defining and expanding this important newly discovered zone. The mineralization starts at surface and may be suitable for open-pit extraction.

"We are also pleased to announced results from the N110 gold corridor, which is a new mineralized area to the west of the Beaupre block that can be followed over one kilometre of strike length. We are interested in this target for its potential to host additional possible high-grade ore shoots given the amount of VG [visible gold] in the system. We will continue our exploration drilling on this area later in the year to determine if new gold zones can be identified."

Much of the Perron property is being logged as part of the government of Quebec's forest management protocols, following the Normetal-area wildfire. As a result, numerous roads are being constructed on the property, providing Amex with unprecedented access to the Perron project.

"The logging work should be completed by the end of the fall along with the construction of tens of kilometres of logging roads, providing us with year-round access to areas of the Perron property which were only previously accessible by helicopter. This access will significantly reduce our exploration costs in these areas and provide us with access to numerous untested targets, many of which are geologically very exciting," said Dr. Trottier.

The Team zone sits within the Beaupre rhyolite, host to all significant gold occurrences at Perron, at the contact of the Normetal fault and approximately 600 m northeast of the high-grade zone. Gold mineralization occurs within a relatively massive and silicified rhyolite host rock, within quartz-carbonate veins/veinlets containing sphalerite, pyrite, minor chalcopyrite, molybdenite and visible gold. Gold mineralization is also disseminated within the rhyolite host rock, in contrast with several other zones identified on the project to date. Amex is currently conducting 50 m spaced (three dimensionally) definition drilling of this system from surface to a depth of approximately 450 m vertically. Today's results are a part of the continuing definition drilling program. The associated 210 gold zone results presented occur within the same drill holes that targeted the Team zone. This is quite encouraging, as the two closely located zones have the potential to be a part of the same gold system or mineralizing event. Note that the 210 gold zone intercept true widths and vein orientations are unknown, and further drilling optimization is required in order to define and understand this part of the system.

The N110 gold corridor was identified through a structural interpretation of the company's magnetic data set and scattered gold intercepts, including 3.18 g/t Au over 4.50 m in hole PEX-21-054 and 2.56 g/t Au over 3.30 m in hole PEX-21-065. The N110 mineralization is characterized by numerous veins and veinlets that occur within massive silicified Beaupre rhyolite. The majority of the holes targeting this corridor have intercepted visible gold mineralization, which is encouraging as it indicates a very fertile mineralizing fluid. The company is conducting a review of the data and drill core, with an aim to test for high-grade-zone-type ore shoots within this widespread area of visible gold mineralization.

Qualified person and quality assurance/quality control

Dr. Jerome Augustin, PGeo, PhD (OGQ 2134), an independent qualified person as defined by National Instrument 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 Dr. Augustin. Core logging and sampling were completed by Laurentia Exploration. The quality assurance/quality control protocols include the 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 three parts per million Au are reanalyzed by fire assay with a gravimetric finish by Laboratoire Expert, Rouyn-Noranda. Samples containing visible gold mineralization are analyzed by metallic sieve. For additional quality assurance/quality control, all samples were crushed to 90 per cent passing fewer than two millimetres prior to pulverization, in order to homogenize samples that 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 regard 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 Exploration Inc.

Amex Exploration has made significant gold discoveries on its 100-per-cent-owned, high-grade Perron gold project, located approximately 110 kilometres north of Rouyn-Noranda, Que., 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 Normetal (approximately eight kilometres). In addition, the project is in close proximity to a number of major gold producers' milling operations. The project hosts both bulk-tonnage and high-grade-gold-style mineralization. Since January, 2019, Amex has intersected significant gold mineralization in multiple gold zones and discovered copper-rich volcanogenic massive sulphide zones.

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