Dr. Jacques Trottier reports

AMEX REPORTS 47.70 M OF 16.97 G/T AU FROM HIGH GRADE ZONE DOWN STRIKE FROM DRILL HOLE PE-23-710 AT PERRON

Amex Exploration Inc. has drilled a significant intercept of 47.70 metres at 16.97 grams per tonne gold from hole PE-23-710, identified during resource-focused drilling of the High Grade zone (HGZ), part of the Eastern gold zone (EGZ) of the Perron project.

As part of Amex's resource-focused drilling, it was recommended that the company drill east-west to define the margins of a late crosscutting Proteozoic diabase dike, in order to precisely quantify its shape and volume for resource modelling. During this exercise, Amex drilled partially along the strike of the HGZ and identified spectacular visible gold over a significant width in an area previously thought to be weakly mineralized. These results showcase the along-strike continuity as well as the consistent high-grade nature of the HGZ. Amex is currently completing five additional drill holes in this orientation to define the dike from near surface to depth.

Today's highlight results (in core length) include:

• PE-23-710: 16.97 g/t Au over 47.70 m at a vertical depth between 140 m and 180 m;
  • Including 53.11 g/t Au over 13.20 m and 614.74 g/t Au over 0.50 m.

Dr. Jacques Trottier, PhD, executive chairman of Amex Exploration, commented: "Today's results clearly demonstrate the continuity of the High Grade zone along strike in the near-surface portion of the system. Equally significant is the discovery of ultrahigh-grade gold mineralization where we previously thought there was little to no gold and therefore should have a net positive impact on the resource calculation of this HGZ."

Qualified person

Dr. Jerome Augustin, PGeo, PhD (OGQ 2134), an independent qualified person as defined by Canadian 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 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 or ALS Canada Ltd. 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 finish by gravimetry by Laboratoire Expert, 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 per cent less than two millimetres prior to pulverization, in order to homogenize samples which may contain coarse gold.

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 4,560 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 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 volcanogenic massive sulphide zones.

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