Dr. Jacques Trottier reports

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 Inc. has released the results of 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.

Highlights include:

• PE-21-318W3 returned 4.30 metres of 23.81 grams per tonne gold, including two m of 50.35 g/t Au at a vertical depth of approximately 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 approximately 1,150 m.
• 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 approximately 1,000 m.

Dr. 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."

Corporate update

Further to the news release issued Oct. 23, 2023, and the engagement of ITG (Independent Trading Group) to provide market-making services, and at the request of the TSX Venture Exchange, the company adds that ITG is a Toronto-based Canadian Investment Regulatory Organization dealer-member that specializes in market-making, liquidity provision, agency execution, ultralow-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 Oct. 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 quality assurance/quality control

Dr. Jerome Augustin, PGeo, PhD (OGQ 2134), an independent qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, 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 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 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 per cent less than two millimetres 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 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 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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