18:47:53 EDT Sat 21 May 2022
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Amex Exploration Inc (2)
Symbol AMX
Shares Issued 101,922,846
Close 2022-05-06 C$ 2.77
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Amex Exploration drills 30.9m of 11.57 g/t Au at Perron

2022-05-09 09:46 ET - News Release

Mr. Victor Cantore reports


Amex Exploration Inc. has drilled a total of nine drill holes focused on near-surface and on-strike expansion as well as definition drilling at the Denise zone, part of the Eastern gold zone (EGZ), on the Perron project. In addition, the company has drilled 11 drill holes at the newly discovered E2 gold zone. In addition, Amex would like to remind shareholders of its annual general meeting, which is scheduled for Tuesday, May 10, 2022, at 10 a.m. ET and will be made available via webcast in consideration of current COVID-19 government guidelines.

Today's drill results demonstrate that tenure and grade of the eastern area of Denise are starting to replicate the western Denise zone, which has been well defined with diamond drilling. These results indicate the potential for higher-grade shoots forming within the eastern Denise zone, similar to what has been defined in the western Denise zone. A complete list of results is available in an attached table.

The E2 gold zone has been expanded down to a vertical depth of 370 metres and along strike for 325 m. A complete list of results is available in an attached table.

Dr. Jacques Trottier, PhD, executive chairman of Amex Exploration, commented: "Hole PE-22-510 recorded one of the best intersections that we have reported to date in the Denise zone. We are now seeing very-high-grade individual samples within the broader panel of mineralized rhyolite that comprises Denise. We are continuing to drill and define this important target, as we believe it has the potential to add significant ounces at Perron. In addition, we are beginning to understand the geometry and plunge of the E2 gold zone, which roughly parallels the high-grade zone. The proximity of the E2 and HGZ, approximately 250 metres apart, should be very positive in a potential underground mining scenario, as the ounce-per-vertical-metre count would increase significantly.

"Amex management is very excited about these results and very much looks forward to the continuation of the current drilling phase and the start of the summer fieldwork season, which will begin in the coming days. In addition to the ongoing drilling campaign, fieldwork this summer will consist of detailed geological mapping and stripping of exposed surfaces (outcrops) on a regional scale covering various areas of the property, as well as regional studies of rock geochemistry and bio-geochemistry."

Qualified persons

Maxime Bouchard, PGeo, MScA (OGQ 1752), and Dr. Jerome Augustin, PGeo, PhD (OGQ 2134), both of whom are independent qualified persons as defined by National Instrument 43-101 standards, have reviewed and approved the geological information reported in this news release. The drilling campaign and the quality assurance/quality control program have been planned and supervised by Mr. Bouchard and Dr. Augustin. The quality assurance/quality control protocol included the insertion of a blank or standard every 10 samples on average, in addition to the regular insertion of blank, duplicate and standard samples accredited by Laboratoire Expert Inc. during the analytical process. Gold values are estimated by fire assay with an atomic absorption finish, and values over three parts per million gold are reanalyzed by fire assay with a gravimetric finish by Laboratoire Expert in 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. Core logging and sampling were completed by Laurentia Exploration.

About Amex Exploration Inc.

Amex Exploration is a junior mining exploration company, the primary objective of which is to acquire, explore and develop viable gold projects in the mining-friendly jurisdiction of Quebec. Amex is focused on its 100-per-cent-owned Perron gold project, located 110 kilometres north of Rouyn-Noranda, Que., consisting of 117 contiguous claims covering 4,518 hectares. A number of significant gold discoveries have been made at Perron, including the Eastern gold zone, the Gratien gold zone, the Grey Cat zone and the Central polymetallic zone. High-grade gold has been identified in each of the zones. A significant portion of the project remains underexplored. In addition to the Perron project, the company holds a portfolio of three other properties focused on gold and base metals in the Abitibi region of Quebec and elsewhere in the province.

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