Amex Drills Highest Grade Assay at Perron - Reports 79.22 g/t Gold over 6.15 Metres Including 929.24 g/t Gold over 0.50 Metres at the High Grade Zone of Perron

Rhea-AI Summary

Amex Exploration Inc. has announced significant drill results from its Perron Gold Project in Quebec, revealing a record assay grade of 929.24 g/t Au over 0.50 metres in hole PE-21-344. Additionally, hole PE-21-286W2 returned 15.04 g/t Au over 4.10 metres. These results indicate a potential expansion of the High Grade Zone (HGZ), with ongoing exploration as the company approaches a maiden resource estimate. Amex's strategy continues to focus on gold project development in Quebec.

Positive

• Highest individual assay grade of 929.24 g/t Au over 0.50 metres reported in hole PE-21-344.
• Significant gold grades observed in multiple drill holes, indicating potential for resource expansion in the High Grade Zone.

Negative

• None.

HGZ Highlights - Near Surface

• 79.22 g/t Au over 6.15 metres , including 929.24 g/t Au over 0.50 metres, for a metal factor of 487 at a vertical depth of approximately 290 metres in hole PE-21-344

HGZ Highlights - At Depth

• 15.04 g/t Au over 4.10 metres , including 70.27 g/t Au over 0.50 metres and 42.58 g/t Au over 0.50 metres, for a metal factor of 62 at a vertical depth of approximately 720 metres in hole PE-21-286W2

MONTREAL, QC / ACCESSWIRE / June 28, 2021 / Amex Exploration Inc. ("Amex or the Company") (TSX-V:AMX)(FRA:MX0)(OTCQX:AMXEF) is pleased to report additional drill results focused on definition and expansion drilling of the High Grade Zone ("HGZ") of the Eastern Gold Zone ("EGZ") on the Perron Gold Project, Quebec. See Figure 1 for a plan view of the geology of the EGZ and the mineralized zones .

Jacques Trottier, PhD Executive Chairman of Amex said, "Today's results are exciting for two specific reasons. Firstly, this is the highest individual assay grade ever reported on the property, 929.24 g/t Au over 0.50 metres, which was reported in hole PE-21-344. Secondly, hole PE-21-344 expands on the >100 gram-meter Metal Factor contour in the upper portion of the HGZ as shown in Figure 1 . This indicates that there is potentially much more of the ultra high grade mineralization in the HGZ, even in areas that appeared to be lower grade based on earlier drill holes."

Today's results are focused on definition drilling of the High Grade Zone as the Company works towards its maiden resource on the Perron Project. A complete list of results are available in Table 1 and presented in Figure 2 . See Figure 2 for the location of the pending holes as well as those containing visible gold at the HGZ.

Figure 1: Plan Map of the Eastern Gold Zone that encompasses Denise and HGZ.

Figure 2: Longitudinal section of the High Grade Zone looking South, with today's results labelled in green.

Figure 3: Visible gold in reported hole PE-21-344

Table 1: Assay Results from the High Grade Zone at Perron

Hole ID	From (m)	To (m)	Length (m)	Au (g/t)	Zone	Vertical Depth (m)
PE-20-163W1	659.85	662.45	2.60	3.28	HGZ	~610 m
Including	660.60	661.25	0.65	7.74
PE-21-286W2	816.40	820.50	4.10	15.04	HGZ	~720 m
Including	818.90	819.40	0.50	42.58
Including	819.40	819.90	0.50	70.27
PE-21-344	320.80	326.95	6.15	79.22	HGZ	~290 m
Including	320.80	321.50	0.70	26.94
Including	325.65	326.15	0.50	929.24

*Note that drill results are presented uncapped and lengths represent core lengths. True width is estimated to be ~70-80% in HGZ.

Qualified Person

Maxime Bouchard P.Geo. M.Sc.A., (OGQ 1752) and Jérôme 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 in this news release. The drilling campaign and the quality control program have been planned and supervised by Maxime Bouchard and Jérôme Augustin. Core logging and sampling were completed by Laurentia Exploration. The quality assurance and quality control protocol include insertion of blank or standard 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. Gold values are estimated by fire assay with finish by atomic absorption and 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. Core logging and sampling were completed by Laurentia Exploration.

About Amex

Amex Exploration Inc. 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% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, 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.

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.

SOURCE: Amex Exploration, Inc.

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FAQ

What are the latest drill results for Amex Exploration's Perron Gold Project?

Amex Exploration reported drill results showing 79.22 g/t Au over 6.15 metres and a record high of 929.24 g/t Au over 0.50 metres in hole PE-21-344.

What does the highest assay grade of 929.24 g/t Au indicate for AMXEF?

The assay grade of 929.24 g/t Au suggests high-quality mineralization and potential for resource expansion in the High Grade Zone of the Perron Gold Project.

How does Amex Exploration plan to utilize recent drill findings?

The company will use the recent drill findings to inform its maiden resource estimate and continue exploration efforts in the High Grade Zone.

What key holes showed high gold grades in the recent report?

Key holes include PE-21-344 with 929.24 g/t Au over 0.50 metres and PE-21-286W2 with 15.04 g/t Au over 4.10 metres.

What is the significance of the results from the High Grade Zone for investors in AMXEF?

The results indicate a strong potential for resource growth, which could positively impact the stock value and investor confidence in AMXEF.