Amex Reports High Grade Gold Near Surface and at Depth at the High Grade Zone (HGZ)

Rhea-AI Summary

Amex Exploration Inc. reported promising drill results from the High Grade Zone (HGZ) at its Perron Gold Project in Quebec. Significant findings included 32.91 g/t Au over 6.40 metres and 27.06 g/t Au over 8.85 metres, indicating high-grade gold continuity. The company is awaiting results from over 22,000 samples aimed at confirming these grades further. Executive Chairman Jacques Trottier expressed optimism, highlighting the presence of visible gold in multiple drill holes. This bodes well for the anticipated resource estimate.

Positive

• High-grade gold drill results: 32.91 g/t Au over 6.40 metres and 27.06 g/t Au over 8.85 metres.
• Strong metal factors exceeding 200 in multiple drill holes.
• Over 22,000 assay samples pending, indicating ongoing exploration potential.

Negative

• None.

• HGZ - near surface
  32.91 g/t Au over 6.40 metres, including 148.82 g/t Au over 1.40 metres, for a metal factor of 210 at a vertical depth of approximately 130.00 metres in hole PE-21-321
  
• HGZ - at depth
  27.06 g/t Au over 8.85 metres, including 317.18 g/t Au over 0.70 metres, for a metal factor of 239 at a vertical depth of approximately 930.00 metres in hole PE-21-301
  
• Numerous assay results are pending including 13 holes with visible gold in the HGZ

MONTREAL, QC / ACCESSWIRE / June 7, 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 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.

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 is available in Table 1 and presented in Figure 2. In addition to the results detailed below, Amex is awaiting results on over 22,000 samples at two labs from holes targeting the HGZ, Denise, and Grey Cat Zone, as well as regional exploration drilling. See Figure 2 for the location of the pending holes as well as those containing visible gold at the HGZ.

Jacques Trottier, PhD Executive Chairman of Amex said, "As we work towards a maiden resource it is important to demonstrate the exceptional high-grade nature and consistency of this High Grade Zone. Today we announced two additional holes with a metal factor of more than 200. Our goal is to demonstrate the continuity and predictability of this exceptional system. All the definition drilling holes that have been drilled inside the projected mineralized envelope to date have displayed a significant amount of visible gold and more important results are still to come. I am especially excited to see results from holes PE-21-338, PE-21-329, PE-21-307W1, PE-20-165W2 and PE-21-301W1. We have worked with our labs to shorten the assay turn around time for results and I am seeing a marked improvement. I look forward to reporting results on a more regular basis."

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 and visible gold in gold.

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

HGZ Results
Hole ID	From (m)	To (m)	Length (m)	Au (g/t)	Vertical depth (m)
PE-21-301	1054.40	1063.25	8.85	27.06	~930
Including	1054.40	1054.90	0.50	9.89
Including	1060.60	1061.30	0.70	317.18
PE-21-321	149.60	156.00	6.40	32.91	~130
Including	153.70	155.10	1.40	148.82
Including	153.70	154.55	0.85	159.80
Including	154.55	155.10	0.55	131.86

*Note that drill results are presented uncapped and lengths represent core lengths. True width is estimated to be ~65-80% in HGZ and Denise.

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. 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 116 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: 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 reported by Amex Exploration (AMXEF)?

Amex Exploration reported drill results of 32.91 g/t Au over 6.40 metres and 27.06 g/t Au over 8.85 metres from the High Grade Zone.

How many assay results are pending for Amex Exploration's Perron Gold Project?

Amex Exploration is awaiting results from over 22,000 samples at the Perron Gold Project.

What is the significance of the metal factors reported in Amex Exploration's latest results?

The reported metal factors exceeding 200 indicate high-grade gold continuity and potential for a significant resource estimate.

When can we expect more results from Amex Exploration (AMXEF)?

Amex Exploration has worked with labs to improve assay turnaround time and plans to report results on a more regular basis.