Amex Drills 30.85 g/t Au over 6.35 m in the High-Grade Zone and Expands Denise at Depth

Rhea-AI Summary

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.

Positive

• High-Grade Zone drill results: PE-21-347W5 with 6.35m of 30.85 g/t Au, including 0.50m of 342.10 g/t Au.
• Denise Zone drill results: PE-20-186W2 with 2.15m of 16.58 g/t Au, including 0.50m of 66.35 g/t Au.
• Denise Zone depth expansion potential, providing significant growth opportunities.

Negative

• None.

Montreal, Quebec--(Newsfile Corp. - July 31, 2024) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or the "Company") is pleased to announce further drill results from the High-Grade Zone ("High-Grade Zone" or "HGZ") and Denise Zone ("Denise"), on the company's flagship Perron Project in the northwestern Abitibi region of Quebec. Today's results further define the High-Grade Zone and have expanded known mineralization of the Denise Zone at depth. See Figure 1 for a plan view of the geology of the Perron Project, Figure 2 for a plan view of the geology of the Eastern Gold Zone, Figure 3 for a longitudinal section of the High-Grade Zone, Figure 4 for a longitudinal of the Denise Zone, Figure 5 for images of gold mineralization and Tables 1-3 for assay results and drillhole coordinates. Today's results will not make it into the Company's resource estimate, highlighting the immense growth potential that exists at the Perron project.

Highlights include:

High-Grade Zone

• PE-21-347W5 returned 6.35 m of 30.85 g/t Au including 0.50 m of 342.10 g/t Au at a vertical depth of ~1100 m

• PE-21-347W4 returned 7.80 m of 7.36 g/t Au including 0.70 m of 70.32 g/t Au at a vertical depth of ~970 m

Denise Zone

• PE-20-186W2 returned 2.15 m of 16.58 g/t Au including 0.50 m of 66.35 g/t Au at a vertical depth of ~900 m

• PE-21-347W5 returned 58.50 m of 0.71 g/t Au including 3.00 m of 8.31 g/t Au at a vertical depth of ~1150 m

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "Today's released drill holes were planned to target the depth extensions of the Denise mineralization on both sides of the central diabase dike. To reach these areas, the holes also traversed the High-Grade Zone, highlighting how proximal the two zones are to each other and providing us with further enhanced information about the HGZ through tighter drill spacing. Importantly, drill hole PE-20-186W2 at Denise West was designed to intercept a predicted mafic-ultramafic intrusion at depth to provide more geological information, but instead intercepted gold mineralization within the rhyolite, meaning the zone has much more room for growth to the west and at depth than originally thought."

Aaron Stone, P.Geo, Vice President Exploration of Amex Exploration continued, "Through the new interpretation of the Denise Mafic Intrusion (see Figure 4), the Amex team continues to see growth potential for resources at depth. This also opens up the possibility of reinterpretation of the same mafic intrusion in the High-Grade Zone, meaning a potential of more area for growth of the Western HGZ. We are also excited to target where the mafic intrusion and diabase dike are modelled to meet one another, to see if this could act as a trap for a pocket of very high-grade gold mineralization. We intend to test this target in the coming months along with other very interesting new targets elsewhere on the property."

Figure 1: Geological map of the Perron Project, showing each of the significant mineralized zones identified to date.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/218362_584327d944517bca_002full.jpg

Figure 2: Geological map of the Eastern Gold Zone, showing each of the significant gold mineralized zones, including the High-Grade Zone and the Denise Zone, and the locations of today's released drill holes. HGZ mineralization is represented by gold bearing quartz-carbonate-sulfide veins with visible gold hosted in the Beaupré aphanitic rhyolite. Denise mineralization is represented by gold bearing quartz-carbonates-sericite-sulfides veins with visible gold hosted in the Beaupré brecciated rhyolite.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/218362_584327d944517bca_003full.jpg

Figure 3: Longitudinal section of the High-Grade Zone looking to the south, showing contoured metal factor (Au g/t * estimated true thickness) and the locations of today's released drill holes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/218362_584327d944517bca_004full.jpg

Figure 4: Longitudinal section of the Denise Zone looking to the south, showing contoured metal factor (Au g/t * estimated true thickness) and the locations of today's released drill holes. Note drillhole PE-20-186W2 and the new interpretation of the Denise Mafic Intrusion, giving Western Denise a significantly larger area for growth potential at depth.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/218362_584327d944517bca_005full.jpg

Figure 5. Photos of visible gold from todays released drill holes, including PE-21-347W4, PE-24-347W5 for the High-Grade Zone and PE-20-186W2 and PE-22-524W5 for the Denise Zone. HGZ mineralization is represented by gold bearing quartz-carbonate-sulfide veins with visible gold hosted in the Beaupré aphanitic rhyolite. Denise mineralization is represented by gold bearing quartz-carbonates-sericite-sulfides veins with visible gold hosted in the Beaupré brecciated rhyolite. Abbreviation: VG - Visible Gold.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/218362_584327d944517bca_006full.jpg

Table 1. Assay results from current drilling of the High-Grade Zone and Denise Zone at the Perron Project.

Hole ID	From (m)	To (m)	Core length (m)	True thickness (m)	Au (g/t)	Ag (g/t)	Metal Factor* (MF)	Vertical Depth (m)	Zone
PE-20-186W2	943.30	943.80	0.50	0.26	0.97	0.30	0.25	~875m	Western DZ
And	949.70	950.50	0.80	0.41	0.92	0.10	0.38	~880m
And	969.20	971.35	2.15	1.12	16.58	1.57	18.56	~900m
including	969.70	970.20	0.50	0.26	1.57	0.40	0.41
including	970.85	971.35	0.50	0.26	66.35	5.50	17.25
PE-20-197W2	1136.80	1163.00	26.20	20.17	0.98	0.47	19.79	~1015m	Eastern DZ
including	1136.80	1147.55	10.75	8.23	1.74	0.80	14.36
PE-21-288W2	923.30	923.80	0.50	0.37	1.68	3.00	0.62	~815m	Western DZ
And	955.00	956.25	1.25	0.93	0.65	0.10	0.60	~840m
And	986.50	996.60	10.10	1.14	0.52	0.17	0.59	~865m
including	986.50	988.00	1.50	7.68	2.28	0.10	17.54
including	990.50	991.50	1.00	0.76	0.61	0.10	0.46
including	996.00	996.60	0.60	0.46	0.64	0.30	0.30
PE-21-347W4	1039.70	1047.50	7.80	4.52	7.36	1.59	33.28	~970m	Eastern HGZ
including	1039.70	1040.40	0.70	0.40	70.32	15.80	28.13
including	1045.70	1047.50	1.80	1.05	2.26	0.40	2.38
And	1050.30	1090.00	39.70	27.59	0.47	1.53	13.02	~995m	Eastern DZ
including	1073.00	1090.00	17.00	11.93	0.83	2.90	9.93
And	1132.10	1134.00	1.90	1.39	0.80	0.18	1.11	~1040m
PE-24-347W5	1156.15	1162.50	6.35	2.50	30.85	2.26	77.14	~1100m	Eastern HGZ
including	1157.65	1158.30	0.65	0.26	12.65	2.60	3.29
including	1159.80	1160.30	0.50	0.20	342.10	20.80	68.42
including	1160.30	1161.00	0.70	0.28	17.68	0.90	4.95
And	1182.00	1240.50	58.50	29.78	0.71	0.71	21.02	~1150m	Eastern DZ
including	1182.00	1183.00	1.00	0.50	2.47	0.10	1.23
including	1197.00	1197.50	0.50	0.25	2.85	0.10	0.71
including	1237.50	1240.50	3.00	1.54	8.31	10.35	12.80
And	1249.00	1250.00	1.00	0.52	1.72	0.20	0.89	~1190m
And	1267.50	1270.50	3.00	1.56	1.22	0.50	1.90	~1210m
And	1288.00	1293.00	5.00	2.62	0.65	0.91	1.70	~1225m
PE-22-524	1451.60	1455.20	3.60	2.43	3.40	0.17	8.27	~1325m	Eastern DZ
including	1451.60	1452.60	1.00	0.67	10.46	0.35	7.01
And	1461.50	1465.00	3.50	2.37	1.59	0.13	3.76	~1335m
And	1479.00	1484.00	5.00	3.42	0.53	0.16	1.80	~1350m
And	1528.50	1529.40	0.90	0.63	32.74	5.90	20.63	~1390m

 

*Metal factor is defined as gold grade multiplied by true thickness

Table 2. Assay results from previous drilling in the Denise Zone at the Perron Project.

Hole ID	Previous Press Release	From (m)	To (m)	Core length (m)	True thickness (m)	Au (g/t)	Ag (g/t)	Metal Factor* (MF)	Vertical Depth (m)	Zone
PE-20-163W1	PR High-Grade Zone 2021-06-28	788.20	803.00	14.80	9.20	0.39	0.16	3.58	~725m	Eastern DZ
PE-20-165W1	Not previously released	816.75	848.05	31.30	19.39	0.39	0.55	7.60	~755m	Eastern DZ
including		826.50	834.50	8.00	4.95	0.41	0.86	2.01
PE-20-185	PR High-Grade Zone 2020-08-18	1137.65	1145.10	7.45	4.74	0.89	0.15	4.22	~1065m	Eastern DZ
including		1143.50	1144.10	0.60	0.38	6.21	0.10	2.36
PE-20-185W1	PR High-Grade Zone 2020-10-07	1092.80	1109.40	16.60	10.72	0.45	0.15	4.77	~1015m	Eastern DZ
PE-20-186	PR Upper High-Grade Zone 2022-01-10	874.00	880.00	6.00	3.73	0.52	0.38	1.93	~810m	Western DZ
And		922.00	957.50	35.50	22.72	0.52	0.53	11.81	~860m
including		922.00	922.90	0.90	0.57	7.20	0.70	4.10
PE-20-187W1	PR High-Grade Zone 2020-10-07	1200.00	1203.25	3.25	2.40	1.13	0.31	2.70	~1085m	Eastern DZ
And		1221.00	1237.00	16.00	12.00	0.85	0.17	10.15	~1110m
including		1230.90	1231.40	0.50	0.38	8.63	0.40	3.28
PE-20-190W1	PR Upper High-Grade Zone 2022-01-10	1044.00	1047.95	3.95	2.63	0.60	0.33	1.59	~965m	Eastern DZ
And		1062.00	1074.20	12.20	8.21	0.41	0.29	3.40	~985m
PE-20-197	PR High-Grade Zone 2020-12-03	1150.00	1155.50	5.50	3.71	0.66	0.33	2.43	~1045m	Eastern DZ
And		1216.80	1227.00	10.20	7.25	0.72	0.25	5.25	~1100m
PE-20-197W1	PR High-Grade Zone 2021-02-17	1106.65	1184.00	77.35	62.27	0.16	0.20	9.70	~995m to ~1045m	Eastern DZ
including		1106.65	1108.55	1.90	1.48	0.89	0.19	1.32
including		1182.50	1184.00	1.50	1.24	1.48	0.30	1.83
PE-20-207	Not previously released	1081.00	1111.90	30.90	19.49	0.56	0.63	10.86	~1015m	Eastern DZ
PE-20-207W1	PR High-Grade Zone 2021-02-17	988.00	992.10	4.10	2.68	0.47	0.27	1.27	~910m	Eastern DZ
And		1046.50	1071.25	24.75	16.95	0.30	0.28	5.01	~965m
PE-20-210	PR 210 Gold Zone + High-Grade Zone 2021-02-17	1378.00	1385.50	7.50	4.89	0.62	0.18	3.05	~1280m	Eastern DZ
And		1403.50	1426.55	23.05	15.43	0.30	0.28	4.62	~1305m
And		1450.00	1460.15	10.15	6.98	0.38	0.10	2.67	~1340m
PE-20-210W1	PR High-Grade Zone 2021-04-26	1339.50	1369.50	30.00	19.60	0.42	0.24	8.31	~1250m	Eastern DZ
including		1339.50	1361.20	21.70	14.16	0.50	0.25	7.04
And		1430.10	1450.50	20.40	13.90	0.37	0.18	5.09	~1320
PE-20-210W2	PR High-Grade Zone 2021-04-26	1334.50	1356.50	22.00	14.71	0.56	0.24	8.29	~1235m	Eastern DZ
And		1384.50	1394.70	10.20	7.00	0.41	0.29	2.89	~1275m
And		1414.90	1433.00	18.10	12.53	0.51	0.32	6.38	~1300m
PE-20-210W3	PR High-Grade Zone 2021-04-26	1311.00	1314.00	3.00	1.91	0.62	0.10	1.18	~1205m	Eastern DZ
PE-20-224	Not previously released	951.50	952.50	1.00	0.64	1.14	0.30	0.73	~870m	Eastern DZ
And		998.00	1008.00	10.00	6.50	0.54	0.17	3.51	~915m
And		1020.00	1034.40	14.40	9.42	0.48	0.30	4.52	~935m
PE-20-224W1	PR High-Grade Zone 2021-03-11	979.50	1019.55	40.05	26.42	0.48	0.25	12.71	~890m to ~925m	Eastern DZ
including		1002.55	1019.55	17.00	11.30	0.84	0.29	9.44
PE-20-224W2	PR High-Grade Zone 2021-03-11	965.30	991.00	25.70	17.10	1.08	1.19	18.47	~880m	Eastern DZ
PE-20-229	PR 210 Gold Zone 2022-01-10	1374.00	1376.00	2.00	1.34	2.92	0.29	3.91	~1270m	Eastern DZ
And		1459.50	1464.90	5.40	3.74	5.77	1.91	21.60	~1345m
PE-20-229W1	Not previously released	1325.50	1344.00	18.50	12.32	0.91	0.28	11.19	~1225m	Eastern DZ
And		1387.50	1391.30	3.80	2.57	0.68	0.47	1.75	~1275m
And		1442.00	1445.60	3.60	2.56	1.49	0.36	3.83	~1315m
PE-20-229W2	PR High-Grade Zone 2021-09-07	1312.00	1323.00	11.00	7.58	0.76	0.29	5.77	~1195m	Eastern DZ
including		1312.00	1321.05	9.05	6.23	0.86	0.30	5.38
PE-20-230	PR High-Grade Zone 2021-03-11	779.50	801.30	21.80	13.75	0.71	3.66	9.81	~715m	Eastern DZ
PE-21-163EXT	Not previously released	831.80	862.50	30.70	18.94	0.61	0.32	11.50	~780m	Eastern DZ
including		858.70	862.50	3.80	2.36	3.17	0.53	7.48
PE-21-165EXT	Not previously released	793.00	873.00	80.00	48.32	0.32	0.27	15.29	~770m	Eastern DZ
including		844.65	873.00	28.35	17.49	0.58	0.48	10.13
PE-21-248W1	PR High-Grade Zone 2021-05-26	908.10	938.00	29.90	21.21	0.91	0.47	19.26	~810m	Eastern DZ
including		908.10	920.80	12.70	8.96	1.28	0.61	11.51
PE-21-268W1	PR High-Grade Zone 2021-04-26	888.00	889.50	1.50	1.00	1.72	0.10	1.72	~790m	Eastern DZ
And		922.50	926.90	4.40	2.99	0.42	0.19	1.25	~820m
PE-21-268W2	PR High-Grade Zone 2021-06-28	912.60	917.15	4.55	3.37	2.42	0.56	8.15	~800m	Eastern DZ
PE-21-286	PR High-Grade Zone 2021-09-07	876.20	943.00	66.80	51.33	0.12	0.12	6.29	~760m to ~815m	Eastern DZ
including		876.20	900.50	24.30	18.47	0.17	0.11	3.11
PE-21-287W1	PR High-Grade Zone 2021-05-26	1266.00	1291.50	25.50	17.60	0.47	0.12	8.21	~1130m	Eastern DZ
PE-21-288	PR High-Grade Zone 2022-06-16	1000.00	1000.50	0.50	0.30	11.54	1.60	3.46	~920m	Eastern DZ
And		1055.30	1057.20	1.90	1.16	2.98	0.75	3.46	~965m
And		1089.00	1095.75	6.75	4.17	2.35	0.41	9.79	~1000m
PE-21-294	PR High-Grade Zone 2021-09-07	952.25	980.60	28.35	22.26	0.77	0.15	17.10	~845m	Eastern DZ
PE-21-318W5	Not previously released	1405.50	1418.50	13.00	7.66	1.43	0.52	10.98	~1320m	Eastern DZ
including		1409.50	1411.00	1.50	0.88	2.82	1.60	2.48
including		1411.00	1412.50	1.50	0.88	5.25	1.60	4.62
including		1415.50	1417.00	1.50	0.89	1.92	0.10	1.71
PE-20-434	PR High-Grade Zone 2022-02-03	1193.50	1244.50	51.00	34.53	0.39	0.29	13.43	~1095m to 1135m	Eastern DZ
including		1193.50	1211.60	18.10	12.11	0.84	0.47	10.15
PE-22-524W2	PR High-Grade Zone 2023-01-23	1426.50	1428.60	2.10	1.48	1.13	0.18	1.68	~1290m	Eastern DZ
And		1447.50	1450.50	3.00	2.14	0.56	0.10	1.19	~1310m
And		1464.60	1473.50	8.90	6.38	0.60	0.10	3.80	~1325m
PE-22-524W3	Not previously released	1547.50	1609.20	61.70	36.51	0.31	0.22	11.36	~1415m to ~1470m	Eastern DZ
including		1552.50	1554.00	1.50	0.88	3.22	0.10	2.83
including		1608.00	1609.20	1.20	0.71	2.41	4.28	1.71
PE-22-524W5	PR High-Grade Zone 2023-01-23	1381.50	1384.50	3.00	2.24	0.99	0.25	2.22	~1220m	Eastern DZ
And		1405.50	1422.60	17.10	12.83	0.57	0.20	7.35	~1245m
And		1449.00	1457.70	8.70	6.49	0.50	0.19	3.24	~1275m
PE-22-524W6	PR High-Grade Zone 2023-01-23	1398.70	1403.25	4.55	3.45	1.46	0.28	5.03	~1225m	Eastern DZ
And		1419.70	1420.25	0.55	0.42	1.88	0.50	0.79	~1240m
And		1432.00	1433.50	1.50	1.15	1.32	0.60	1.52	~1250m
PE-22-524W7	PR High-Grade Zone 2023-01-23	1380.00	1390.90	10.90	8.45	0.20	0.21	1.71	~1225m	Eastern DZ
And		1422.00	1432.50	10.50	8.33	0.21	0.34	1.78	~1255m
PE-22-532W1	PR Team Zone 2024-04-24	1717.00	1781.70	64.70	39.19	0.25	0.11	9.70	~1580 to ~1635m	Eastern DZ
including		1717.00	1743.00	26.00	15.65	0.39	0.10	6.07
And		1824.60	1825.10	0.50	0.31	19.29	3.40	5.98	~1675m
PE-22-532W3	PR High-Grade Zone 2023-01-23	1544.50	1555.00	10.50	8.49	0.29	0.14	2.45	~1370m	Eastern DZ
including		1544.50	1548.00	3.50	2.82	0.48	0.10	1.34
PE-22-544	Not previously released	1020.00	1028.00	8.00	4.93	1.13	0.21	5.56	~940m	Western DZ

 

*Metal factor is defined as gold grade multiplied by true thickness

Table 3. Drill hole coordinates for today's results.

Hole ID	Azimuth (°)	Dip (°)	From (m)	To (m)	Length (m)	Easting (m)	Northing (m)	Elevation (m)
PE-20-163W1	162	-72	348	864	516	614802	5431007	344
PE-20-165W1	168	-75	346	867	521	614802	5431009	344
PE-20-185	155	-75	0	1150	1150	614780	5431158	346
PE-20-185W1	155	-75	642	1120	478	614780	5431158	346
PE-20-186	167	-73	0	973	973	614615	5431022	344
PE-20-186W2	167	-73	520	1018	498	614615	5431022	344
PE-20-187W1	153	-72	837	1308	471	614802	5431247	347
PE-20-190W1	157	-75	413	1152	739	614750	5431105	345
PE-20-197	163	-71	0	1258	1258	614878	5431225	348
PE-20-197W1	163	-71	777	1216	439	614878	5431225	346
PE-20-197W2	163	-71	477	1186	709	614878	5431225	346
PE-20-207	164	-73	0	1133	1133	614871	5431110	346
PE-20-207W1	164	-73	642	1087	445	614871	5431110	346
PE-20-210	152	-75	0	1507	1507	614857	5431283	349
PE-20-210W1	152	-75	1040	1482	442	614857	5431283	349
PE-20-210W2	152	-75	768	1479	711	614857	5431283	349
PE-20-210W3	152	-75	369	1339	970	614857	5431283	349
PE-20-224	167	-73	0	1062	1062	614847	5431099	345
PE-20-224W1	167	-73	563	1035	472	614847	5431099	345
PE-20-224W2	167	-73	246	1036	790	614847	5431099	345
PE-20-229	145	-75	0	1500	1500	614916	5431284	350
PE-20-229W1	145	-75	876	1455	579	614916	5431284	350
PE-20-229W2	145	-75	483	1327	844	614916	5431284	350
PE-20-230	163	-69	0	931	931	614746	5431009	344
PE-21-163EXT	162	-72	745	888	143	614802	5431007	344
PE-21-165EXT	168	-75	749	889	140	614802	5431009	344
PE-21-248W1	170	-72	487	958	471	614847	5431098	345
PE-21-268W1	159	-70	309	951	642	614801	5431103	346
PE-21-268W2	159	-70	447	930	483	614801	5431103	346
PE-21-286	160	-68	0	949	949	614810	5431137	346
PE-21-287W1	152	-72	810	1326	516	614857	5431259	348
PE-21-288	163	-74	0	1113	1113	614746	5431103	345
PE-21-288W2	163	-74	501	1027	526	614746	5431103	345
PE-21-294	157	-71	0	994	994	614806	5431137	346
PE-21-318W5	162	-74	725	1435	710	614876	5431227	348
PE-21-347W4	158	-77	747	1185	438	614835	5431119	345
PE-21-347W5	158	-77	774	1317	543	614835	5431119	345
PE-21-434	165	-73	0	1291	1291	614876	5431228	348
PE-22-524	143	-73	0	1645	1645	614886	5431358	351
PE-22-524W2	143	-73	1131	1564	433	614886	5431358	351
PE-22-524W3	143	-73	900	1641	741	614886	5431358	351
PE-22-524W5	143	-73	802	1497	695	614886	5431358	351
PE-22-524W6	143	-73	790	1435	645	614886	5431358	351
PE-22-524W7	143	-73	463	1467	1004	614886	5431358	351
PE-22-532W3	137	-76	1199	1605	406	614964	5431427	357
PE-22-544	144	-73	0	1047	1047	614598	5431064	345

 

Qualified Person and QA&QC

Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), an independent "qualified person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects (the "Qualified Person"), 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 Jérôme 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.

Exploration results that include drill results on wide spacings may not be indicative of the occurrence of a mineral deposit, as such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics and economic potential to be classed as a category of mineral resource. The potential quantities and grades of drilling targets disclosed in this news release are conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the targets being delineated as mineral resources.

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 Normétal (~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.

For further information please contact:

Victor Cantore
President and Chief Executive Officer
Amex Exploration: +1-514-866-8209

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking statements

This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the planned exploration program on the HGZ and Denise Zone, the expected positive exploration results, the extension of the mineralized zones, the timing of the exploration results, the ability of the Company to continue with the exploration program, the availability of the required funds to continue with the exploration and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "to earn", "to have', "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218362

FAQ

What are the new drill results from Amex Exploration's Perron Project?

Amex Exploration (OTCQX: AMXEF) reported significant drill results including 6.35m of 30.85 g/t Au in the High-Grade Zone and 2.15m of 16.58 g/t Au in the Denise Zone.

How deep were the new gold findings at Amex Exploration's Perron Project?

Significant findings include gold at ~1100m depth in the High-Grade Zone and ~900m depth in the Denise Zone.

What is the growth potential identified in the new drill results for the Denise Zone?

New interpretations suggest the Denise Zone has significant room for growth to the west and at depth, indicating more expansion potential.

Will the new drill results be included in Amex Exploration's current resource estimate?

No, the newly reported drill results will not be included in the current resource estimate, highlighting the potential for future growth.