Mr. Victor Cantore reports

AMEX INTERSECTS 29.00 G/T AU OVER 3.50 M IN NEW WESTERN EXTENSION OF GRATIEN GOLD ZONE, REPORTS ON DEFINITION AND EXPANSION OF TEAM AND E3 GOLD ZONES

Amex Exploration Inc. has released high-grade gold results from a new western extension of the Gratien gold zone that was previously undrilled on the Perron project in the Abitibi region of Quebec. In addition, a number of drill holes focused on expansion and definition drilling of the Team Zone ("Team") and E3 Gold Zone ("E3") are reported here within. See Figure 1 for a plan view of the geology of the Perron Project, Figure 2 for a plan view of the Gratien Gold Zone, Figure 3 for a longitudinal of Gratien, Figure 4 for a cross section displaying the Gratien mineralization, Figure 5 for images of gold mineralization in Gratien, Figure 6 for a plan view of the Team and E3 Gold Zones, Figure 7 for images of gold mineralization in Team and E3 Gold Zones, Tables 1-3 for assay results, and Table 4 for drillhole coordinates.

Highlights include:

Western Extension Gratien Zone

• PEG-24-728 returned 3.50 m of 29.00 g/t Au, including 0.50 m of 185.08 g/t Au at a vertical depth of ~120 m in the Gratien Gold Zone;
• PEG-24-730 returned 3.00 m of 18.66 g/t Au, including 0.60 m of 76.53 g/t Au at a vertical depth of ~60 m in the Gratien Gold Zone;

E3 ZonePE-23-660 returned 3.00 m of 17.52 g/t Au at a vertical depth of ~55 m in the E3 Gold Zone;

Team ZonePE-23-668 returned 21.10 m of 1.03 g/t Au including 2.70 m of 2.56 g/t Au and 2.20 m of 3.62 g/t Au at a vertical depth of ~405 m in the Team Zone; andPE-23-674 returned 22.20 m of 0.92 g/t Au including 0.50 m of 8.45 g/t Au and 1.30 m of 6.99 g/t Au at a vertical depth of ~255 m in the Team Zone.

Results from PEG-24-728 and PEG-24-730 are the highest-grade intercepts seen to date on the western portion of Gratien and opens up an entirely new area for continued expansion. By referring to the longitudinal of Gratien in Figure 3, it can be observed that these heavily mineralized centimetric quartz-carbonate veins were found in a previously untested portion of Gratien West and appear to be a at-depth extension of the existing zone. Gold mineralization is hosted in quartz-carbonate veins parallel to iron formations and straddling mafic intrusions within the Normetal South Block. Additional drill holes have been planned to further define this new high-grade extension.

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "The Amex team is extremely encouraged by these new high-grade results from a new western extension of Gratien. We were truly impressed by the quantity of visible gold mineralization observed in these veins. A significant amount of drilling is planned around these intercepts to test their western extension and continuation at depth. Due to the cut-off date for the drilling database, the new western extension Gratien drilling will not be included in the resource estimate which is expected to be delivered in Q1 2024 and this area represents blue sky potential for the Perron property."

Drill results from the Team and E3 Gold Zones are focused on further definition and expansion of these zones. As can be observed in Figure 6, the two zones are found straddling the northern contact of the rhyolitic Beaupre Block, which is separated from the Normetal Volcanic Complex to the north by the Normetal Fault. The Team Zone remains open and the potential exists to join the Team Zone to the E3 Gold Zone with further exploratory drilling.

Mr. Trottier continued, "Also of significant importance, today's results continue to enhance and further define the Team Zone in addition to expanding upon the existing footprint of the E3 Gold Zone. By looking at the plan map, it can be clearly observed that there is a gap in the drilling between these two zones, with infill drilling, the potential exists to create one, large mineralized system. As we continue to prepare the mineral resource estimate, these results add important information to our database to better define our 3D modelling."

Qualified Person and QA&QC

Jerome Augustin P.Geo. Ph.D., (OGQ 2134), an Independent Qualified Person as defined by Canadian NI 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 Jerome 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 3 ppm 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% less than 2 mm prior to pulverization, in order to homogenize samples which 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 regards 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

Amex Exploration Inc. has made significant gold discoveries on its 100% owned high-grade Perron Gold Project located ~110 kilometres north of Rouyn-Noranda, Quebec, 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 (~8 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 VMS zones.

We seek Safe Harbor.