Mr. Victor Cantore reports

AMEX MORE THAN DOUBLES LAND POSITION TO CONTROL 500 KM2 IN THE ABITIBI REGION

Amex Exploration Inc. has entered into an asset purchase agreement with an arm's-length vendor to acquire two projects immediately adjacent to the existing Amex land package, individually named the Abbotsford project and the Hepburn project. In addition to these acquisitions, the company has acquired, through claim staking, the continuation of these greenstone belts, and now controls approximately 70 kilometres of strike length of the prolific Abitibi greenstone belt. When combined with the existing landholdings of Perron and Perron West, the company will increase its footprint from 19,972 hectares (199.72 square kilometres) to 50,108 hectares (501.08 square kilometres).

Amex has extended its holdings to the northwest along the Normetal-Burntbush greenstone belt, which hosts Perron's 2.3-million-ounce resource (see press release dated May 21, 2025).

Details of the acquisitions and claim staking are as follows:

• The Abbotsford project consists of 242 claims for a total of 6,253.47 hectares.
• The Hepburn project consists of 82 claims for a total of 2,139.45 hectares.
• Eight hundred ninety claims were acquired though staking for the continuation of the Abbotsford project for a total of 18,753.17 hectares.
• One hundred forty-one claims were acquired through claim staking for the continuation of the Hepburn project, for a total of 2,990.16 hectares.

Victor Cantore, president and chief executive officer of Amex Exploration, commented: "Based on our extensive exploration of the Perron property, we see the Normetal-Burntbush greenstone belt, which adjoins the Casa Berardi deformation zone to the northwest, as being extremely prospective for future gold and VMS discoveries. With these acquisitions, we have constructed a truly district-scale land package, which is controlled by one company, rarely seen in the Abitibi region. The Normetal-Burntbush greenstone belt remains heavily underexplored for gold while holding several historical showings that never had substantial follow-up work. It is also exciting to now hold land adjoining the Casa Berardi break, which also contains important fertile structures that warrant further work."

The Amex land package neighbours Agnico Eagle's Abitibi properties along the Casa Berardi break in Ontario. Agnico's project holds several gold showings along a northeast-southwest strike, of which any potential continuation of mineralization would be trending toward the new Amex claims. The company looks forward to designing an initial exploration program on this underexplored package.

In addition to the continuation of the Normetal-Burntbush greenstone belt, the company also acquired the Hepburn project and staked claims farther to the west. The Hepburn project contains mafic to intermediate metavolcanic rocks that hold numerous gold and copper showings, which warrant further exploration work.

Amex envisages that any future discoveries made on the new land package would have synergies with the proposed mine infrastructure on the Perron project in Quebec (see updated preliminary economic assessment press release dated Sept. 4, 2025, for more information).

Transaction details

The company, as purchaser, entered into the APA with an arm's-length vendor to acquire the Abbotsford project and the Hepburn project. Pursuant to the APA, the company will:

1. Pay to the vendor aggregate cash consideration of $150,000;
2. Issue to the vendor a total of 600,000 common shares in capital of the company, subject to certain contractual resale restrictions providing for a staggered release of the shares from escrow over a 36-month period;
3. Grant to the vendor a 0.5-per-cent gross overriding royalty in respect of the Abbotsford project and the Hepburn project pursuant to the terms and conditions of a gross overriding royalty agreement to be entered into between the company and the vendor on closing; and
4. Make the following additional milestone payments to the vendor:
   1. A further $1-million, to be satisfied in cash, payable upon the company disclosing a mineral resource and/or mineral reserve (of any category or any combination of categories) in respect of the properties delineating at least one million ounces of gold and/or gold equivalent; and
   2. A further $500,000, to be satisfied in cash, payable upon the company disclosing a preliminary economic assessment, prefeasibility study or a feasibility study in respect of the properties, as those terms are defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

The properties are currently subject to an existing 1.5-per-cent net smelter return royalty in favour of Gravel Ridge Resources Ltd. and 1544230 Ontario Inc., which will be assumed by Amex on closing. Accordingly, upon closing, the properties will be subject, in aggregate, to a 1.5-per-cent NSR and an additional 0.5-per-cent gross overriding royalty.

The transaction remains subject to a number of closing conditions and postclosing obligations, including, the execution of the royalty agreement and certain deeds and instruments of conveyance, the approval of the TSX Venture Exchange, and standard closing conditions for transactions of this nature.

Qualified persons and quality assurance/quality control

The technical information in this news release has been reviewed and approved by Aaron Stone, PGeo (OGQ 2170 and PGO 3708), for the properties in Ontario, and Jerome Augustin, PGeo, PhD (OGQ 2134), for the Perron project in Quebec.

The potential grades of exploration targets discussed in this news release are conceptual in nature. The qualified persons have not completed sufficient work to verify historical information on the properties, and it is uncertain if further exploration will result in any targets being delineated as a mineral resource. The company has not independently verified and cannot guarantee the accuracy or completeness of any third party data discussed in this news release, and investors should use caution in placing reliance on such information. The information provides an indication of the exploration potential of the properties but may not be representative of expected results.

About Amex Exploration Inc.

Amex has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide zones, at its 100-per-cent-owned Perron gold project, located approximately 110 kilometres north of Rouyn-Noranda, Que. The Perron project in Quebec consists of 183 contiguous claims for a surface area of 65.75 square kilometres. The project hosts both bulk-tonnage and high-grade gold mineralization styles.

When combined with the adjacent and contiguous Perron West project in Ontario, which includes 35 claims (33 multicell and two single-cell claims) for 134.55 square kilometres, the consolidated land package spans a district-scale 200.30 square kilometres. This extensive property lies within highly prospective geology favourable for both high-grade gold and volcanogenic massive sulphide mineralization.

The project benefits from excellent infrastructure: It is accessible by a year-round road, located just 30 minutes from an airport, and approximately 6.5 kilometres from the town of Normetal. It is also in close proximity to several process plants owned by major gold producers.

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