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Amex Exploration Inc (2)
Symbol AMX
Shares Issued 103,243,001
Close 2023-01-20 C$ 1.90
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Amex drills 4.85 m of 75.81 g/t Au at Perron

2023-01-23 10:23 ET - News Release

Mr. Jacques Trottier reports


Amex Exploration Inc. has released updated results on continued expansion and definition drilling of the High Grade zone (HGZ) on the Perron project in the Abitibi region of Quebec. Today's results include intercepts from both the eastern and western portions of the system and are focused on defining less understood areas as well as testing the strike and depth extensions of the zone. See Figure 1 for a map of the Eastern Gold Zone area of Perron, Figure 2 for a longitudinal section of the HGZ including the location of today's holes, Table 1 for a list of all results, and Table 2 for location information of the drill holes.

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

PE-22-535: 75.81 g/t Au over 4.85 m at a vertical depth of ~750 m Including: 193.79 g/t Au over 1.00 m And including: 235.87 g/t Au over 0.50 m And including: 77.12 g/t Au over 0.50 m

PE-22-524W5: 7.40 g/t Au over 14.80 m at a vertical depth of ~1200 m Including: 152.22 g/t Au over 0.50 m

PE-22-524W6: 24.34 g/t Au over 3.85 m at a vertical depth of ~1210 m Including: 76.38 g/t Au over 1.20 m

PE-22-524W7: 45.66 g/t Au over 1.80 m at a vertical depth of ~1190 m

Jacques Trottier, Executive Chairman of Amex, commented: "Today's results are focused on definition and growth of the High Grade Zone. We continue to intercept fantastic multi-ounce intervals both within the main body that we are working to define as well as at the margins as we work to grow the zone along strike and at depth. In the longitudinal, we can see that the HGZ appears to shift slightly to the East at depth. As is shown on the figures and tables, we have been effectively using both wedges and directional drilling to cost-effectively explore the deeper area of the HGZ. We look forward to continued exploration as we seek to identify the plunge and orientation of the system at depth." Figure 1: Geological map of the Eastern Gold Zone area (EGZ), showing the locations of all identified zones To view an enhanced version of Figure 2, please visit:https://images.newsfilecorp.com/files/2667/152101_f6b366e0445ed863_002full.jpg Figure 2: Longitudinal section of the High Grade Zone, showing contoured metal factor (Au g/t * estimated true thickness) and the locations of todays released drill holes To view an enhanced version of Figure 2, please visit:https://images.newsfilecorp.com/files/2667/152101_f6b366e0445ed863_003full.jpg Figure 3: Photos of visible gold from todays released drill holes. VG = Visible Gold, Py = Pyrite, Sp = Sphalerite To view an enhanced version of Figure 3, please visit:https://images.newsfilecorp.com/files/2667/152101_f6b366e0445ed863_004full.jpg

Qualified Persons

Maxime Bouchard P.Geo. M.Sc.A., (OGQ 1752) and Jerome Augustin P.Geo. Ph.D., (OGQ 2134), Independent Qualified Persons as defined by Canadian NI 43-101 standards, have reviewed and approved the geological information reported. The drilling campaign and the quality control program have been planned and supervised by Maxime Bouchard and Jerome Augustin.

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 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.

For analyses targeting VMS mineralization, zinc, copper and silver values are estimated by four acid digestion multi-elements Inductively Coupled Plasma - Atomic Emission Spectroscopy (ICP-AES), ME-ICP61 at ALS Canada Ltd. Zinc values over 1%, copper values over 1%, and silver values over 100 g/t are estimated by four acid digestion ICP-AES, OG62. Gold values are estimated by fire assay with atomic absorption finish.

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 hosts both disseminated and high-grade vein-hosted gold style mineralization. Since January 2019, Amex has intersected significant gold mineralization in multiple gold zones and discovered copper-rich VMS zones.

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