AMEX EXPLORATION INC ORD - AMXEF STOCK NEWS

Amex Exploration announces positive PEA results for its wholly-owned Perron gold project in Quebec. The project demonstrates strong economics with a pre-tax IRR of 59.5% and NPV of C$948 million at US$2,000/oz gold. The mine plan envisions a 10-year operation producing an average of 101,000 oz Au annually, with higher production of 124,000 oz Au in the first 5 years. Initial capital expenditure is estimated at C$229 million with all-in sustaining costs of US$807/oz Au. The project will utilize underground mining supplemented by open pit operations, processing 1,750 tonnes per day with a 95% gold recovery rate. Environmental impact is minimized by using mined-out pits for tailings storage.

Amex Exploration (AMXEF) announced expansion of its Central Polymetallic Zone (CPZ) with high-grade drill results, including 134.36 g/t Au over 1.8 m at ~435m depth. The new intercept could extend CPZ by 100m beyond its current area. Additional drilling at High Grade and Team Zones intercepted mineralization outside the Perron Project's disclosed resource, with notable results including 5.06 g/t Au over 9.60 m at the High Grade Zone and 62.50 g/t Au over 0.60 m at the Team Zone. The company also expanded the JT Zone to approximately 450m of strike with 60m thickness. The zone remains open to the east at depth.

Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) has successfully closed a non-brokered private placement, raising C$6,594,100 through the issuance of 5,734,000 units at C$1.15 per unit. Each unit consists of one common share and half a warrant, exercisable at C$1.40 for 24 months. The offering was conducted under the Listed Issuer Financing Exemption, with no hold period on the units. Proceeds will fund the company's Preliminary Economic Study on its Perron Gold Project and working capital.

Additionally, Amex has filed a NI 43-101 Mineral Resource Estimate technical report for the Perron gold project, effective September 05, 2024. The report, prepared by GoldMinds Geoservices Inc. and Laurentia Exploration Inc., is available on the company's website and SEDAR+.

Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) has announced an upsize to its non-brokered private placement. The company now plans to offer up to 4,710,000 units at a price of C$1.15 per unit, aiming to raise aggregate proceeds of C$5,416,500. Each unit consists of one common share and half a warrant, with each whole warrant exercisable at C$1.40 for 24 months. The offering is expected to close around October 15, 2024.

The funds will be used to advance the company's Preliminary Economic Study on its Perron Gold Project and for general working capital. The offering is being conducted under the Listed Issuer Financing Exemption, meaning the units will not be subject to a hold period under Canadian securities laws. An amended offering document is available on SEDAR+ and the company's website.

Amex Exploration Inc. (TSXV: AMX) (OTCQX: AMXEF) has announced a non-brokered private placement of up to 3,400,000 units at C$1.15 per unit, aiming to raise C$3,910,000. Each unit consists of one common share and half a warrant, with each whole warrant exercisable at C$1.40 for 24 months. The offering is supported by key strategic investors Eric Sprott and Eldorado Gold .

The proceeds will fund the advancement of the company's Preliminary Economic Study on the Perron Gold Project and general working capital. The offering is expected to close around October 15, 2024, subject to regulatory approvals. Units will be offered under the Listed Issuer Financing Exemption, making them free from hold periods under Canadian securities laws.

Amex Exploration has announced a Mineral Resource Estimate (MRE) for its flagship Perron Project in Quebec. The estimate includes 594,100 measured and indicated ounces at 4.28 g/t Au and 1,049,650 inferred ounces at 3.80 g/t Au. Most resources come from the High-Grade Zone (HGZ), which alone hosts 336,170 measured and indicated ounces at 12.05 g/t Au and 415,470 inferred ounces at 10.49 g/t Au.

Drilling is ongoing and fully funded until the end of 2025. Metallurgical tests achieved up to 99% gold recovery in HGZ and up to 95% in other zones. The project also has potential for further resource expansion, including additional metals like copper-zinc, which were not included in this MRE.

Amex plans to release a Preliminary Economic Assessment (PEA) in Q4 2024. The Perron project benefits from nearby infrastructure like housing, roads, and electricity, which is expected to positively impact its economics.

Amex Exploration Inc. (TSXV: AMX) (OTCQX: AMXEF) has announced successful drill results expanding the near-surface mineralization of the High-Grade Zone (HGZ) at its Perron Project in Quebec. Key highlights include:

- Drill hole PE-24-788 returned 34.75 m of 2.22 g/t Au including 1.00 m of 53.16 g/t Au at ~145 m vertical depth

- PE-24-791 returned 10.15 m of 1.47 g/t Au including 0.75 m of 10.49 g/t Au at ~260 m vertical depth

These results, not included in the upcoming Q3 resource estimate, demonstrate growth potential across the Perron project. The drilling targeted an area near the central diabase dike, previously thought to contain only lower-grade mineralization. The company plans to continue drilling in this area to explore a potential secondary plunge of higher-grade mineralization.

Amex Exploration (OTCQX: AMXEF) has announced new drill results from the High-Grade Zone (HGZ) and Denise Zone at its Perron Project in Quebec. Significant highlights include:

• HGZ: PE-21-347W5 returned 6.35m of 30.85 g/t Au, including 0.50m of 342.10 g/t Au at ~1100m depth; PE-21-347W4 returned 7.80m of 7.36 g/t Au, including 0.70m of 70.32 g/t Au at ~970m depth.
• Denise Zone: PE-20-186W2 returned 2.15m of 16.58 g/t Au, including 0.50m of 66.35 g/t Au at ~900m depth; PE-21-347W5 returned 58.50m of 0.71 g/t Au, including 3.00m of 8.31 g/t Au at ~1150m depth.

The results suggest growth potential, especially in the Denise Zone, with new interpretations indicating more room for expansion. These findings will not be included in the current resource estimate, emphasizing the project's growth potential.

Amex Exploration announced new gold mineralization findings in the deepest drilling to date in the western area of the Gratien Gold Zone at the Perron Project in Quebec. The discovery indicates a new lens of mineralization within the Upper Gratien Gold Zone, expanding the potential for further exploration and growth. Significant drill results include PEG-24-764 with 7.40m at 5.15 g/t Au, and PEG-24-767 with 1.20m at 20.28 g/t Au. The company plans 80,000 meters of diamond drilling in 2024 and aims to update its NI 43-101 resource estimate by the end of Q3, incorporating these new findings. The new lens appears on strike with the Grey Cat Zone, enhancing the structural potential of the project.