Montreal, Quebec--(Newsfile Corp. - August 13, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or the "Company") is pleased to announce that it has completed the second and final tranche of an oversubscribed non-brokered private placement, previously announced on July 17, 2025 and August 7, 2025, of 1,877,000 common shares of Amex at a price of C$1.60 per share for aggregate gross proceeds of C$3,003,200 (the "Final Tranche"). Together with the first tranche of the offering completed on August 7, 2025 for aggregate gross proceeds of C$34,246,800 (the "First Tranche" and together with the Final Tranche, the "Offering"), the Company raised a total of C$37,250,000 under the Offering. The Offering was oversubscribed and exceeded the maximum size previously announced on July 17, 2025 by $7,280,000.

The Company intends to use the net proceeds of the Offering to fund exploration across the Perron Gold Project, with a focus on new target definition and drilling, and for general working capital.

In connection with the Offering, the Company paid certain eligible third parties dealing at arm's length with the Company cash finder's fees totaling $56,000.

All securities issued in connection with the Offering will be subject to a hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws. The Offering remains subject to the final acceptance of the TSX Venture Exchange (the "TSXV").

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities issued under the Offering in the United States. The securities issued under the Offering have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Amex Exploration Inc.

Amex Exploration Inc. has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS) zones, at its 100%-owned Perron Gold Project, located approximately 110 kilometres north of Rouyn-Noranda, Quebec. The Project comprises 117 contiguous claims (45.18 km²) and hosts both bulk-tonnage and high-grade gold mineralization styles.

When combined with the adjacent Perron West Project, which includes 48 claims (17.37 km²) in Quebec and 35 claims (134.55 km²) in Ontario, the consolidated land package spans a district-scale 197.52 km². This extensive property lies within highly prospective geology favourable for both high-grade gold and VMS mineralization.

The Project benefits from excellent infrastructure: it is accessible by a year-round road, located just 20 minutes from an airport, and approximately 8 km from the Town of Normétal. It is also in close proximity to several process plants owned by major gold producers.

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 use of proceeds, the timing and ability of the Company, if at all, to obtain final acceptance of the Offering from the TSXV, planned exploration programs, the expected positive exploration results, the extension of mineralized zones, the timing of the exploration results, the ability of the Company to continue with exploration programs, 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, delays in obtaining or failures to obtain required regulatory approvals, 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.

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• Post-Tax IRR 70.1% and Post-Tax NPV C$1,085M at US$2,500/oz Au
• Two Stage Production: 4-year toll milling operation followed by the construction of an on-site processing plant
• Cumulative Undiscounted Post-Tax Cash Flow of C$1,768M, including C$1,273M over the first 10 years of production
• Gold production to average 112,000 oz per year over the first 10 years of production

Montreal, Quebec--(Newsfile Corp. - September 4, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or the "Company") is pleased to announce the results of an updated Preliminary Economic Assessment (the "PEA") for its wholly-owned Perron gold project (the "Project"), located near the towns of Normétal and Valcanton in the province of Quebec, Canada. The PEA was prepared in collaboration with independent engineering and geological firms Evomine, Bumigeme, P&E Mining Consultants, Norda Stelo, and Laurentia Exploration.

PEA Technical Presentation details

In connection with this news release, AMEX will hold a conference call and audio webcast on September 4, at 10 am EDT, followed by a question-and-answer session.

To access the call please register here:
https://us02web.zoom.us/webinar/register/WN__sFEtKfiT4mxtyFDhI0IcA

You may also access the conference call on a listen-only basis via webcast at our website www.amexexploration.com. The audio webcast will be archived on www.amexexploration.com.

All dollar ($) amounts in this news release are in Canadian dollar ($) unless otherwise indicated.

Perron updated Preliminary Economic Assessment Highlights:

The Perron PEA has been updated to incorporate the latest Mineral Resource Estimate (MRE - released May 21^st, 2025) and a new project development strategy. The following assumes a gold price of US$2,500/ounce ("oz") and a C$/US$ exchange rate of 1.38:1.

• Staged production strategy derisk the project, simplifies the permitting process, accelerates time to revenue (targeting 2028) and minimizes shareholder dilution, with Phase 2 mine construction financed from free cash flow.
• Phase 1:
  • 4-year 1,000 tpd contract mining, toll-milling operation in the Abitibi region, where numerous processing plants are in operation;
  • Low initial capital cost estimate of $146.1M which is partially offset from pre-production revenues of $68.6M for a net Initial CAPEX of $77.5M;
  • Average annual gold production of 102,000 oz gold ("Au") at an All in Sustaining Cost ("AISC") of US$1,165/oz Au;
  • Average diluted head grade of 10.07 grams per tonne ("gpt") for 0.41 million oz Au
• Phase 2
  • 13-year 2,000 tpd owner operated mine with on-site processing facility;
  • Growth capital of $191.6M;
  • Average annual production of 93,000 oz Au at an AISC of US$1,027/oz Au;
  • Average diluted head grade of 4.32 gpt for 1.25 million oz Au.
• Life of Mine ("LOM") of 17.5 years;
• Average annual production of 95,000 oz Au, or 1.66 million oz Au over LOM, including an average per year of 112,000 oz for the first 10 years.
• LOM Average diluted grade of 5.07 gpt Au;
• LOM AISC of US$1,061/oz Au;
• LOM Sustaining Capex of $386.3M;
• Pre-tax NPV of $1,885M and After-tax NPV of $1,085M;
• Pre-tax IRR of 99.1% and After-tax IRR of 70.1%;
• Cumulative Pre-tax Undiscounted Net Free Cash Flow of $3,010M and Cumulative After-tax Undiscounted Net Free Cash Flow of $1,768M;
• Pre-tax payback period of 1.1 years and After-tax payback period of 1.4.

CEO Commentary:

Victor Cantore, President and Chief Executive Officer of AMEX Exploration commented, "This PEA is based on our latest Mineral Resource Estimate and reflects our new vision for developing the Perron Project. Our staged approach to production and construction is both fiscally and technically prudent, minimizing permitting and technical risk, reducing upfront capital and enabling early cash flow."

Cantore continued, "The economics of this project are incredibly strong and with gold prices at record highs, quick time to production allows us to capitalize on current market conditions. Our cost structure is one of the lowest globally and reflects the benefits of having a project with high grade, easily mined gold ounces that is surrounded by infrastructure and mining expertise."

Table 1: PEA Study Economic Analysis Highlights

Notes:
1 Growth CAPEX is attributed to Phase 2, even if incurred prior to Year 5
2 Initial capital expenditure estimate of $146.1M is partially offset from pre-production revenues of $68.6M for a net initial CAPEX of $77.5M.

Table 2: PEA Physical Highlights

Table 3: PEA Study Financial Highlights

Notes:
3 Initial capital expenditure estimate of $146.1M is partially offset from pre-production revenues of $68.6M for a net initial CAPEX of $77.5M.
- The PEA is preliminary in nature and is based, in part, on Inferred Mineral Resources. Inferred Mineral Resources are considered too geologically speculative to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that the economic forecasts on which the PEA is based will be realized.
- The economic analysis of the project was carried out using a discounted cash flow approach on a pre-tax and after-tax basis with a discount rate of 5%.
- Revenue was based on a long-term gold price of $2,500/oz in USD.

• Underpinned by world class infrastructure, the Perron PEA demonstrates a top-tier high margin gold mining operation in the stable jurisdiction of Quebec, Canada. The Project is located within the Abitibi region, one of the most prolific gold belts in the world.

• The PEA results confirm that Perron has the potential to be a stand-alone and highly profitable operation with an excellent internal rate of return (IRR) and after-tax net present value (NPV) at a range of gold prices.

• The PEA shows that Perron has the potential to be a mine with limited environmental impact, utilizing the mined out open pits to store tailings and therefore avoiding the construction of a tailings management facility.

Mining

The mine will be operated as a mechanized underground operation, which will be complemented by open pit production. The mine will have an overall average production rate of 1,000 tpd of mineralized material during Phase 1 and a capacity of 2,000 tpd of mineralized material during Phase 2. Production is preceded by a 21-month pre-production period.

The selected underground mining method is longitudinal longhole stoping with cemented rockfill. Stope dimensions average 17.5 m in length, 25 m in height, and 4.7 m in width (LOM average) with a minimum mining width of 3.0 m. The different sectors of mine will be accessed via ramps and drifts to allow the efficient circulation of mobile mining equipment and to satisfy ventilation and emergency egress requirements. Pre-production and Phase 1 mining activities will mostly be done by a contractor, while Phase 2 considers a fleet of owner-operated equipment that includes 10 tonne LHDs and 42 tonne haul trucks.

Seven open pits are included in the mine plan and utilize conventional truck and shovel mining that will be executed by a contractor. The pits will begin to be mined at the beginning of Phase 1, with material completely extracted by year 13 as the pits are sequenced such that they can be used to manage all tailings generated by the on-site mill during Phase 2 of the Project.

Figure 1: Mine Design

Table 4: Mine Physicals

Processing

Phase 1 representing a 4-year 1,000 tpd contract mined, toll-milling operation in the Abitibi region, where numerous processing plants are in operation. Mineralized material will be loaded at the project site and transported by truck to the processing destination.

To date, AMEX has not entered into a toll milling arrangement with any third-party owner of a processing facility to treat its material. However, discussions were initiated and there are several parties that own processing facilities within the Abitibi region, with some permitted for toll milling and others that could be permitted upon arrangement, that could potentially treat the Perron mineralized material. Bumigeme inc., a mineral processing consultant based in Montréal (Canada), reviewed the flowsheets of these mills which are similar to the flowsheet developed in the PEA study for treating the Perron mineralized material. Bumigeme is confident that the recoveries anticipated from the toll treatment of ore from the Perron deposit will reach 94-95%, matching the expectations for the on-site processing plant (Phase 2). The Toll milling assumptions used in the PEA consists of an cost of CA$102.00 per tonne, covering for on-site crushing, transport and toll milling cost. A sensitivity analysis has been done on this cost and is presented in the Financial Analysis section.

Phase 2 consists of the construction and commissioning of a 2,000 tpd processing plant on-site at the Perron project. The plant will be in operation from year 5 to the end of the LOM. The flowsheet consists of primary crushing, followed by a grinding circuit consisting of a semi-autogenous grinding mill of 5.5 m diameter x 1.8 m long in an opened circuit and a ball mill of 4.0 m diameter x 6.7 m long in a closed circuit with cyclones - SABC circuit. A gravity circuit followed by leaching will recover coarse gold from the cyclone underflow, while the cyclone overflow, at a P80=74 microns, is treated in a six (6) tank carbon-in-leach circuit, followed by SO2/air cyanide destruction. Gold will be recovered in an adsorption-desorption-recovery circuit and electrowinning cells, with gold room recovery and production of bullion bars. The CIL tailings after the cyanide destruction will be pumped to a high-rate thickener to increase the slurry density to 62-64 % solid and pumped to empty pits.

Tests conducted in 2020 and 2024 on Perron ore achieved gold recoveries exceeding 95% using a gravity/cyanidation process. Based on these results and the treatment processes studied for four potential toll milling plants, an average recovery rate of 95% was considered for both Phase 1 and Phase 2 of the LOM. The process plant building will include a laboratory, mill offices, a dry and an electrical and mechanical shop.

Figure 2: Flowsheet

Table 5: Gold Production by Source (Underground (UG) and Open Pit (OP))

Figure 3: Gold Production per Year

Infrastructure

The Project is approximately 6.5 kilometers from the town of Normétal, Quebec and is accessible via a well-maintained forestry road. The Project will require construction of the supporting infrastructure items, such as:

Phase 1
- Gatehouse and service and haulage roads;
- Temporary buildings to be used by the mining contractor (maintenance shop, warehouses, offices, dry, etc.);
- 6.5 kilometers of 25kV transmission line and an on-site substation;
- Surface water management facilities including final effluent water treatment plant, ditches, pond and pumping stations;
- Underground mine portal, mine ventilation systems (intake and exhaust) and waste dump and overburden storage facilities;
- Mineralized material loading facilities;

Phase 2
- 2,000 tpd process plant complex;
- Required infrastructures to pump the plant tailings to emptied open-pits;
- Maintenance shop;
- Administration building;
- Warehouse
- Additional surface water management facilities;
- Additional service and haulage roads;

These infrastructures and facilities will require different authorizations and permits prior to being built and operated. No camp will be required considering the nearby qualified labor pool.

Figure 4: Suggested Infrastructure Arrangement

Figure 5: General site arrangement

Workforce

During steady state operations, the number of employees (mine, process plant and G&A) is expected to peak at 272 people during Phase 1 of mine operation and at 335 people during Phase 2, including contractors (open pit mining, underground mining, contract services, etc.).

Tailings

During Phase 1, the tailings will be managed off-site at the toll mill facility. During Phase 2, the tailings storage plan will take advantage of open pits that will be mined in the first 13 years of mine operations. Process plant rejects will be thickened and pumped to the mined-out pits sequentially for permanent storage. Tailings will then consolidate over time and excess water will either be used for processing requirements or discharged to the environment once quality conditions are met. This concept aims to limit the environmental impact of the Perron Project, to limit the risks related to traditional Tailings Management Facility (TMF) stability, to simplify short-term and long-term monitoring and to greatly reduce the capital and operating costs related to tailings management.

Figure 6: Visual of in-pit tailings disposal

Capital Expenditure

The total initial construction capital expenditure ("Initial CAPEX"), which is to bring Phase 1 of the Project into operation, is estimated at $146.1M, which will be partially offset from $68.6M in pre-production gold sales credits for an initial net CAPEX of $77.5M. It accounts for site development, the construction of a 25kV powerline connecting to the existing electrical substation in Normétal and the initial development of the underground mine. The Initial CAPEX estimate includes $7.4M of EPCM and indirect costs and a contingency of $9.2M.

The total growth capital expenditure ("Growth CAPEX"), to bring Phase 2 of the Project into operation, is estimated at $191.6M. It includes the costs of building a 2,000 tpd mill on site and acquiring an underground mobile equipment fleet. It also accounts for further site development, including a truck shop, warehouse and an administration facility. Additionally, the Growth CAPEX estimate includes $30.5M of EPCM and indirect costs and a contingency of $22.3M.

The Sustaining CAPEX ("SUSEX") is estimated to be $386.3M, including $11.4M of closure and rehabilitation costs. Underground mining SUSEX is earmarked for mining development, additional equipment, replacement units, and major repairs. Other SUSEX captures in-pit tailings storage, infrastructure and G&A.

Quotations from reputable suppliers were obtained for most of the large and high-cost equipment required for the plant, mine and site infrastructure. For other equipment and supplies, cost estimates were based on comparable projects, historical data or derived through consultants' in-house databases.

Table 6: Capital Expenditures

Notes
1 Consists of mineralized material mined and sold during the pre-production period, ie., before the mined is developed at a point where a constant mining rate of 600 tonnes per day is sustainable (60% of the planned rate of 1,000 tonnes per day).
2 Phase 2 CAPEX represents the investment needed to build a processing plant on site and to increase the mining rate at 2,000 tonnes per day.

• As per the CIM Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines, working capital is reported separately to CAPEX in the economic model.

Operating Costs

LOM total operating cost is estimated at US$891 per ounce of gold produced, as summarized below. The LOM total AISC is estimated to be US$1,061 per ounce of gold produced based on a total gold production of 1,660,000 ounces over the 17.5 years of mine life. This cost structure places the Project in the bottom quartile of the global gold cost curve, which is mostly due to the high-grade nature of the mineralized material and to the simplicity of mining.

Table 8: Operating Costs

Table 8: Unit Operating Costs

Financial Analysis

At base case gold price of US$2,500/oz and exchange rate of 1.38, the Project generates a post-tax Net Present Value ("NPV") of $1,085M using 5% discount rate and a post-tax Internal Rate of Return ("IRR") of 70.1% with a payback period of 1.4 years from the commencement of commercial production. The Project generates cumulative post-tax free cash flow of $1,768M over the 17.5-year production period. Total taxes payable over LOM at the base case gold price is $1,243M.

Figure 7: After-Tax FCF

The PEA financial economic analysis is significantly influenced by gold prices. At spot prices of US$3,400/Au oz and exchange rate of 1.38, the Project generates an after-tax NPV of $1,841M and an after-tax IRR of 107.6% with a payback period of 0.4 years. A sensitivity analysis was performed on the gold price, operating costs, total CAPEX and Phase 1 off-site transport and processing.

Table 9: Sensitivity Analysis

Gold price sensitivity

Operating costs sensitivity

Capital expenditures sensitivity

Phase 1 Transport and Toll Milling cost sensitivity

Permitting and Environment

According to the Regulation respecting the environmental impact assessment and review of certain projects (chapter Q-2, r. 23.1, last updated on April 1 2025), work required for the operation of a new mine is included in the list of projects subject to the environmental impact assessment and review procedure (Schedule 1). In the regulation, a "mine" is defined as all the surface and underground infrastructures forming part of a mineral substance operation, except surface mineral substances within the meaning of the Mining Act (chapter M-13.1). The scope of the environmental impact assessment will be defined by the directive (guideline) issued by the Ministère de l'Environnement, de la Lutte contre les changements climatiques, de la Faune et des Parcs (MELCCFP) subsequent to the filing of the Project Notice by Amex, in accordance with section 31.2 of the Environment Quality Act (EQA).

An environmental and social scoping study is currently underway to identify the key environmental and social risks and issues associated with the project construction and operation and to more accurately define the scope of the environmental baseline studies required. The acquisition of baseline environmental knowledge on the Perron property began several years ago and is still ongoing today. The environmental baseline studies and early public consultations, help characterize the receiving environment and identify areas that are more ecologically or socially rich or sensitive. This information will be used as part of the environmental assessment process and the feasibility studies to further develop and optimize the project with the objective of ensuring the project environmental and social acceptability.

Once the environmental assessment and review procedure is completed and the project is approved, the various project components will require specific provincial and federal permits and authorizations. At the provincial level, this will include ministerial authorizations that must be electronically filed with the appropriate forms to comply with the EQA and the Regulation respecting the regulatory scheme applying to activities on the basis of their environmental impact (REAFIE) (Q-2, r. 17.1), the Mining Act (chapter M-13.1), as well as other provincial acts and regulations. At the federal level, some project components and impacts may require specific authorizations according to federal legal and regulatory framework, including authorizations under the Fisheries Act (R.S.C., 1985, c. F-14, the Metal and Diamond Mining Effluent Regulations (SOR/2002-222) and other federal acts and regulations.

Stakeholder Engagement

The aboriginal community affected by Amex's activities is the Abitibiwinni First Nation which is an Algonquin First Nation residing primarily in the community of Pikogan in the Abitibi-Temiscamingue region. The Pikogan community, also called Abitibiwinni, is located three (3) kilometers from the town of Amos on the west bank of the Harricana River. The Perron project is located on a part of the ancestral territory of the Algonquin Anishinabeg Nation. A relationship of trust and respect has been built with the Abitibiwinni First Nation Council over the years through consistent transparency and consultation. With respect to local communities near the project, Normétal, Valcanton and Saint-Lambert are the main municipalities surrounding the Perron project.

Amex has always prioritized engaging stakeholders and implementing communication and consultation plans. Communication plans include a summary of the work completed on the property every six months as well as the company's exploration and development plans for the coming months. Active community participation in the development and implementation of the project is one of Amex's core values and aids in fostering good long-term relationships. Amex will continue consulting, supporting and informing all stakeholders at all stages of the project development. With this in mind, Ames aims to establish various working and consultation committees by the end of 2025.

Exploration Update

With the recent acquisition of the Perron West property (see press release dated March 25, 2025) quadrupling Amex's land holdings along the Normétal-Burntbush greenstone belt, the Company's exploration plans are significantly expanding to cover the vast, new area of prospective geology. Amex's constant evolution of knowledge of the mineralization styles and structures with the Beaupré Block on Perron will provide invaluable insight into guiding exploration on the Company's expanded land package.

Currently, Amex has multiple teams conducting surface exploration work on the 15,192-hectare Perron West project. Teams of technicians are completing large and widespread soil sampling programs to find and/or further define gold-in-soil anomalies, while teams of geologists are completing surface prospecting work, including mapping, grab sampling, structural measurements of outcrops, etc. The work is expected to be completed in the coming weeks, with the results to help further define the existing anomalies on the property and further solidify drill planning for a maiden program on Perron West in 2026.

In addition, structural geology specialists from consultant Norda Stelo are continuing work on a thoroughly detailed 3D lithostructural model on the Perron property. This project is nearing completion and will help guide drill planning for the remainder of the year and into 2026 at Perron. The outcomes from this model will also improve Amex's understand and build upon a larger scaled regional structural framework, that will aid drill planning efforts on the Perron West property.

The Company will update the market with more in-depth details on drill planning for Perron in the near future.

Mineral Resource Estimate

The updated PEA was based on the NI 43-101 compliant Perron Project MRE, with an effective date of May 21, 2025 (please see the linked press release). The mineral resources that have flowed to the mine plan at Perron come from multiple zones, with major contributions from the Champagne, Denise, Team, Grey Cat and Gratien zones.

Table 1: Summary of total Mineral Resources at the Perron Project

Perron Gold project Mineral Estimate notes:

• The Mineral Resource Estimate is compliant with CIM 2019 Best Practices Guidelines for reporting Mineral Resources and Reserves.
• Mineral Resources are presented undiluted and in situ and are considered to have reasonable prospects for eventual economic extraction. The Mineral Resources near surface are constrained by pit optimization surfaces and the underground Mineral Resources are constrained by potentially mineable stope shapes.
• The database is comprised of a total of 1,807 drill holes for 608492.30 metres of drilling (which includes historical drilling completed by previous operators, abandoned and exploration holes) in the extent of the Mineral Resource, of which (359 087.40 metres) 305,523 samples were assayed as of March 31, 2025, grid spacing is variable.
• All NQ core assays reported by Amex were obtained by analytical methods described below under "QA/QC".
• Geological interpretation of the zones was based on lithologies, mineralized zones orientation and cut-off grade considerations. Each zone has its own characteristic of mineral occurrence and amount of recoverable gold.
• Geological wireframe interpretation was initially made from cross-sections at intervals in GEMS^TM, and then completed in Leapfrog^TM where selections of mineralized intervals were combined to generate mineralized wireframes. Wireframes are generally subvertical with various plunges.
• The Mineral Resource Estimate encompasses a total of 115 wireframes, sub-vertical gold-bearing domains, each defined by individual wireframes with a minimum downhole width of 2.0 m.
• Assay Samples were composited within the mineralization envelopes into 1.0 m length composites. A value of 0.001 g/t Au was applied in cases of drill core not assayed.
• High-grade capping was done on composite data and established using a statistical analysis on a per-zone basis for gold. Capping varied from 5 g/t Au to 500 g/t Au and was applied on composites within each specific wireframe.
• Bulk density values were applied on the different mineralized zones varied from 2.7 to 2.8 t/m³ based on site drill core measurements.
• Inverse distance cubed grade interpolation was used.
• Grade estimates are based on a parent block dimension of 5m x 5m x 5m with sub-cells down to 1m x 1m x 1m. Search parameters were determined by variography.
• The Perron Mineral Resource Estimate is classified as Measured, Indicated and Inferred as follows:
  • The Measured Mineral Resource classification is defined by areas where drill hole sample spacing is less than 10 m, blocks are informed by a minimum of three drill holes, and reasonable geological and grade continuity is shown.
  • The Indicated Mineral Resource classification is defined by areas where drill spacing is less than 30 m (except Champagne Zone at 40 m), blocks are informed by a minimum of two drill holes, and reasonable geological and grade continuity is shown.
  • The Inferred Mineral Resource classification is defined by the limits of the constraining wireframes, blocks are informed by a minimum of one drill hole, and reasonable, however, not verified, geological and grade continuity is observed.
• Grade estimates use metric units (metres, tonnes and g/t). Metal contents are presented in troy ounces (metric tonnes x grade / 31.10348).
• The QPs are not aware of any known environmental, permitting, legal, title-related, taxation, socio-political or marketing issues, or any other relevant issues that could materially affect the Mineral Resource Estimate.

Further details regarding the 2025 updated Mineral Resource Estimate, key assumptions, parameters and methods used to estimate the Mineral Resources of the Perron Gold Project are available on SEDAR+ (www.sedarplus.ca) under the Corporation's issuer profile in accordance with NI 43-101.

Qualified Persons

The qualified persons independent of the issuer, responsible for the technical information in this Press Release are Stephen Coates, P.Eng. of Evomine, Alexandre Burelle, P.Eng. of Evomine, Florent Baril, P.Eng. of Bumigeme, Antoine Yassa P.Geo. of P&E, Charles Spath, M.Sc., P.Geo. of P&E, Yungang Wu, M.Sc., P.Geo. of P&E, Eugene Puritch, P.Eng., FEC, CET of P&E, Denys Vermette, P.Geo. of Norda Stelo and Jérôme Augustin, Ph.D., P.Geo. of Laurentia Exploration. They declare that they have read this press release and that the scientific and technical information relating to the resource estimate and preliminary economic assessment presented therein are correct.

Disclosure

Non-GAAP financial measures

The Company has included certain non-GAAP financial measures in this document. These financial measures are not defined under IFRS and should not be considered in isolation. The Company believes that these financial measures, together with financial measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Company. The inclusion of these financial measures is meant to provide additional information and should not be used as a substitute for performance measures prepared in accordance with IFRS. These financial measures are not necessarily standard and therefore may not be comparable to other issuers.

All-in sustaining cost

All in sustaining cost is a non-GAAP financial measure calculated based on guidance published by the World Gold Council ("WGC"). The WGC is a market development organization for the gold industry and is an association whose membership comprises leading gold mining companies. Although the WGC is not a mining industry regulatory organization, it worked closely with its member companies to develop these metrics. Adoption of the all-in sustaining cost metric is voluntary and not necessarily standard, and therefore, this measure presented by the Company may not be comparable to similar measures presented by other issuers. The Company believes that the all-in sustaining cost measure complements existing measures and ratios reported.

All-in sustaining cost includes both operating and capital costs required to sustain gold production on an ongoing basis. Sustaining operating costs represent expenditures expected to be incurred that are considered necessary to maintain production. Sustaining capital represents expected capital expenditures comprising mine development costs, including capitalized waste, and ongoing replacement of mine equipment and other capital facilities, and does not include expected capital expenditures for major growth projects or enhancement capital for significant infrastructure improvements.

About Amex Exploration Inc.

Amex Exploration Inc. has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS) zones, at its 100%-owned Perron Gold Project, located approximately 110 kilometres north of Rouyn-Noranda, Quebec. The Project comprises 117 contiguous claims (45.18 km²) and hosts both bulk-tonnage and high-grade gold mineralization styles.

When combined with the adjacent Perron West Project, which includes 48 claims (17.37 km²) in Quebec and 35 claims (134.55 km²) in Ontario, the consolidated land package spans a district-scale 197.52 km². This extensive property lies within highly prospective geology favourable for both high-grade gold and VMS mineralization.

The Project benefits from excellent infrastructure: it is accessible by a year-round road, located just 20 minutes from an airport, and approximately 8 km from the Town of Normétal. It is also in close proximity to several process plants owned by major gold producers.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/265097

• Post-Tax IRR 70.1% and Post-Tax NPV C$1,085M at US$2,500/oz Au
• Two Stage Production: 4-year toll milling operation followed by the construction of an on-site processing plant
• Cumulative Undiscounted Post-Tax Cash Flow of C$1,768M, including C$1,273M over the first 10 years of production
• Gold production to average 112,000 oz per year over the first 10 years of production

Montreal, Quebec--(Newsfile Corp. - September 4, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or the "Company") is pleased to announce the results of an updated Preliminary Economic Assessment (the "PEA") for its wholly-owned Perron gold project (the "Project"), located near the towns of Normétal and Valcanton in the province of Quebec, Canada. The PEA was prepared in collaboration with independent engineering and geological firms Evomine, Bumigeme, P&E Mining Consultants, Norda Stelo, and Laurentia Exploration.

PEA Technical Presentation details

In connection with this news release, AMEX will hold a conference call and audio webcast on September 4, at 10 am EDT, followed by a question-and-answer session.

To access the call please register here:
https://us02web.zoom.us/webinar/register/WN__sFEtKfiT4mxtyFDhI0IcA

You may also access the conference call on a listen-only basis via webcast at our website www.amexexploration.com. The audio webcast will be archived on www.amexexploration.com.

All dollar ($) amounts in this news release are in Canadian dollar ($) unless otherwise indicated.

Perron updated Preliminary Economic Assessment Highlights:

The Perron PEA has been updated to incorporate the latest Mineral Resource Estimate (MRE - released May 21^st, 2025) and a new project development strategy. The following assumes a gold price of US$2,500/ounce ("oz") and a C$/US$ exchange rate of 1.38:1.

• Staged production strategy derisk the project, simplifies the permitting process, accelerates time to revenue (targeting 2028) and minimizes shareholder dilution, with Phase 2 mine construction financed from free cash flow.
• Phase 1:
  • 4-year 1,000 tpd contract mining, toll-milling operation in the Abitibi region, where numerous processing plants are in operation;
  • Low initial capital cost estimate of $146.1M which is partially offset from pre-production revenues of $68.6M for a net Initial CAPEX of $77.5M;
  • Average annual gold production of 102,000 oz gold ("Au") at an All in Sustaining Cost ("AISC") of US$1,165/oz Au;
  • Average diluted head grade of 10.07 grams per tonne ("gpt") for 0.41 million oz Au
• Phase 2
  • 13-year 2,000 tpd owner operated mine with on-site processing facility;
  • Growth capital of $191.6M;
  • Average annual production of 93,000 oz Au at an AISC of US$1,027/oz Au;
  • Average diluted head grade of 4.32 gpt for 1.25 million oz Au.
• Life of Mine ("LOM") of 17.5 years;
• Average annual production of 95,000 oz Au, or 1.66 million oz Au over LOM, including an average per year of 112,000 oz for the first 10 years.
• LOM Average diluted grade of 5.07 gpt Au;
• LOM AISC of US$1,061/oz Au;
• LOM Sustaining Capex of $386.3M;
• Pre-tax NPV of $1,885M and After-tax NPV of $1,085M;
• Pre-tax IRR of 99.1% and After-tax IRR of 70.1%;
• Cumulative Pre-tax Undiscounted Net Free Cash Flow of $3,010M and Cumulative After-tax Undiscounted Net Free Cash Flow of $1,768M;
• Pre-tax payback period of 1.1 years and After-tax payback period of 1.4.

CEO Commentary:

Victor Cantore, President and Chief Executive Officer of AMEX Exploration commented, "This PEA is based on our latest Mineral Resource Estimate and reflects our new vision for developing the Perron Project. Our staged approach to production and construction is both fiscally and technically prudent, minimizing permitting and technical risk, reducing upfront capital and enabling early cash flow."

Cantore continued, "The economics of this project are incredibly strong and with gold prices at record highs, quick time to production allows us to capitalize on current market conditions. Our cost structure is one of the lowest globally and reflects the benefits of having a project with high grade, easily mined gold ounces that is surrounded by infrastructure and mining expertise."

Table 1: PEA Study Economic Analysis Highlights

Notes:
1 Growth CAPEX is attributed to Phase 2, even if incurred prior to Year 5
2 Initial capital expenditure estimate of $146.1M is partially offset from pre-production revenues of $68.6M for a net initial CAPEX of $77.5M.

Table 2: PEA Physical Highlights

Table 3: PEA Study Financial Highlights

Notes:
3 Initial capital expenditure estimate of $146.1M is partially offset from pre-production revenues of $68.6M for a net initial CAPEX of $77.5M.
- The PEA is preliminary in nature and is based, in part, on Inferred Mineral Resources. Inferred Mineral Resources are considered too geologically speculative to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that the economic forecasts on which the PEA is based will be realized.
- The economic analysis of the project was carried out using a discounted cash flow approach on a pre-tax and after-tax basis with a discount rate of 5%.
- Revenue was based on a long-term gold price of $2,500/oz in USD.

• Underpinned by world class infrastructure, the Perron PEA demonstrates a top-tier high margin gold mining operation in the stable jurisdiction of Quebec, Canada. The Project is located within the Abitibi region, one of the most prolific gold belts in the world.

• The PEA results confirm that Perron has the potential to be a stand-alone and highly profitable operation with an excellent internal rate of return (IRR) and after-tax net present value (NPV) at a range of gold prices.

• The PEA shows that Perron has the potential to be a mine with limited environmental impact, utilizing the mined out open pits to store tailings and therefore avoiding the construction of a tailings management facility.

Mining

The mine will be operated as a mechanized underground operation, which will be complemented by open pit production. The mine will have an overall average production rate of 1,000 tpd of mineralized material during Phase 1 and a capacity of 2,000 tpd of mineralized material during Phase 2. Production is preceded by a 21-month pre-production period.

The selected underground mining method is longitudinal longhole stoping with cemented rockfill. Stope dimensions average 17.5 m in length, 25 m in height, and 4.7 m in width (LOM average) with a minimum mining width of 3.0 m. The different sectors of mine will be accessed via ramps and drifts to allow the efficient circulation of mobile mining equipment and to satisfy ventilation and emergency egress requirements. Pre-production and Phase 1 mining activities will mostly be done by a contractor, while Phase 2 considers a fleet of owner-operated equipment that includes 10 tonne LHDs and 42 tonne haul trucks.

Seven open pits are included in the mine plan and utilize conventional truck and shovel mining that will be executed by a contractor. The pits will begin to be mined at the beginning of Phase 1, with material completely extracted by year 13 as the pits are sequenced such that they can be used to manage all tailings generated by the on-site mill during Phase 2 of the Project.

Figure 1: Mine Design

Table 4: Mine Physicals

Processing

Phase 1 representing a 4-year 1,000 tpd contract mined, toll-milling operation in the Abitibi region, where numerous processing plants are in operation. Mineralized material will be loaded at the project site and transported by truck to the processing destination.

To date, AMEX has not entered into a toll milling arrangement with any third-party owner of a processing facility to treat its material. However, discussions were initiated and there are several parties that own processing facilities within the Abitibi region, with some permitted for toll milling and others that could be permitted upon arrangement, that could potentially treat the Perron mineralized material. Bumigeme inc., a mineral processing consultant based in Montréal (Canada), reviewed the flowsheets of these mills which are similar to the flowsheet developed in the PEA study for treating the Perron mineralized material. Bumigeme is confident that the recoveries anticipated from the toll treatment of ore from the Perron deposit will reach 94-95%, matching the expectations for the on-site processing plant (Phase 2). The Toll milling assumptions used in the PEA consists of an cost of CA$102.00 per tonne, covering for on-site crushing, transport and toll milling cost. A sensitivity analysis has been done on this cost and is presented in the Financial Analysis section.

Phase 2 consists of the construction and commissioning of a 2,000 tpd processing plant on-site at the Perron project. The plant will be in operation from year 5 to the end of the LOM. The flowsheet consists of primary crushing, followed by a grinding circuit consisting of a semi-autogenous grinding mill of 5.5 m diameter x 1.8 m long in an opened circuit and a ball mill of 4.0 m diameter x 6.7 m long in a closed circuit with cyclones - SABC circuit. A gravity circuit followed by leaching will recover coarse gold from the cyclone underflow, while the cyclone overflow, at a P80=74 microns, is treated in a six (6) tank carbon-in-leach circuit, followed by SO2/air cyanide destruction. Gold will be recovered in an adsorption-desorption-recovery circuit and electrowinning cells, with gold room recovery and production of bullion bars. The CIL tailings after the cyanide destruction will be pumped to a high-rate thickener to increase the slurry density to 62-64 % solid and pumped to empty pits.

Tests conducted in 2020 and 2024 on Perron ore achieved gold recoveries exceeding 95% using a gravity/cyanidation process. Based on these results and the treatment processes studied for four potential toll milling plants, an average recovery rate of 95% was considered for both Phase 1 and Phase 2 of the LOM. The process plant building will include a laboratory, mill offices, a dry and an electrical and mechanical shop.

Figure 2: Flowsheet

Table 5: Gold Production by Source (Underground (UG) and Open Pit (OP))

Figure 3: Gold Production per Year

Infrastructure

The Project is approximately 6.5 kilometers from the town of Normétal, Quebec and is accessible via a well-maintained forestry road. The Project will require construction of the supporting infrastructure items, such as:

Phase 1

• Gatehouse and service and haulage roads;
• Temporary buildings to be used by the mining contractor (maintenance shop, warehouses, offices, dry, etc.);
• 6.5 kilometers of 25kV transmission line and an on-site substation;
• Surface water management facilities including final effluent water treatment plant, ditches, pond and pumping stations;
• Underground mine portal, mine ventilation systems (intake and exhaust) and waste dump and overburden storage facilities;
• Mineralized material loading facilities;

Phase 2

• 2,000 tpd process plant complex;
• Required infrastructures to pump the plant tailings to emptied open-pits;
• Maintenance shop;
• Administration building;
• Warehouse
• Additional surface water management facilities;
• Additional service and haulage roads;

These infrastructures and facilities will require different authorizations and permits prior to being built and operated. No camp will be required considering the nearby qualified labor pool.

Figure 4: Suggested Infrastructure Arrangement

Figure 5: General site arrangement

Workforce

During steady state operations, the number of employees (mine, process plant and G&A) is expected to peak at 272 people during Phase 1 of mine operation and at 335 people during Phase 2, including contractors (open pit mining, underground mining, contract services, etc.).

Tailings

During Phase 1, the tailings will be managed off-site at the toll mill facility. During Phase 2, the tailings storage plan will take advantage of open pits that will be mined in the first 13 years of mine operations. Process plant rejects will be thickened and pumped to the mined-out pits sequentially for permanent storage. Tailings will then consolidate over time and excess water will either be used for processing requirements or discharged to the environment once quality conditions are met. This concept aims to limit the environmental impact of the Perron Project, to limit the risks related to traditional Tailings Management Facility (TMF) stability, to simplify short-term and long-term monitoring and to greatly reduce the capital and operating costs related to tailings management.

Figure 6: Visual of in-pit tailings disposal

Capital Expenditure

The total initial construction capital expenditure ("Initial CAPEX"), which is to bring Phase 1 of the Project into operation, is estimated at $146.1M, which will be partially offset from $68.6M in pre-production gold sales credits for an initial net CAPEX of $77.5M. It accounts for site development, the construction of a 25kV powerline connecting to the existing electrical substation in Normétal and the initial development of the underground mine. The Initial CAPEX estimate includes $7.4M of EPCM and indirect costs and a contingency of $9.2M.

The total growth capital expenditure ("Growth CAPEX"), to bring Phase 2 of the Project into operation, is estimated at $191.6M. It includes the costs of building a 2,000 tpd mill on site and acquiring an underground mobile equipment fleet. It also accounts for further site development, including a truck shop, warehouse and an administration facility. Additionally, the Growth CAPEX estimate includes $30.5M of EPCM and indirect costs and a contingency of $22.3M.

The Sustaining CAPEX ("SUSEX") is estimated to be $386.3M, including $11.4M of closure and rehabilitation costs. Underground mining SUSEX is earmarked for mining development, additional equipment, replacement units, and major repairs. Other SUSEX captures in-pit tailings storage, infrastructure and G&A.

Quotations from reputable suppliers were obtained for most of the large and high-cost equipment required for the plant, mine and site infrastructure. For other equipment and supplies, cost estimates were based on comparable projects, historical data or derived through consultants' in-house databases.

Table 6: Capital Expenditures

Notes
1 Consists of mineralized material mined and sold during the pre-production period, ie., before the mined is developed at a point where a constant mining rate of 600 tonnes per day is sustainable (60% of the planned rate of 1,000 tonnes per day).
2 Phase 2 CAPEX represents the investment needed to build a processing plant on site and to increase the mining rate at 2,000 tonnes per day.

• As per the CIM Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines, working capital is reported separately to CAPEX in the economic model.

Operating Costs

LOM total operating cost is estimated at US$891 per ounce of gold produced, as summarized below. The LOM total AISC is estimated to be US$1,061 per ounce of gold produced based on a total gold production of 1,660,000 ounces over the 17.5 years of mine life. This cost structure places the Project in the bottom quartile of the global gold cost curve, which is mostly due to the high-grade nature of the mineralized material and to the simplicity of mining.

Table 8: Operating Costs

Table 8: Unit Operating Costs

Financial Analysis

At base case gold price of US$2,500/oz and exchange rate of 1.38, the Project generates a post-tax Net Present Value ("NPV") of $1,085M using 5% discount rate and a post-tax Internal Rate of Return ("IRR") of 70.1% with a payback period of 1.4 years from the commencement of commercial production. The Project generates cumulative post-tax free cash flow of $1,768M over the 17.5-year production period. Total taxes payable over LOM at the base case gold price is $1,243M.

Figure 7: After-Tax FCF

The PEA financial economic analysis is significantly influenced by gold prices. At spot prices of US$3,400/Au oz and exchange rate of 1.38, the Project generates an after-tax NPV of $1,841M and an after-tax IRR of 107.6% with a payback period of 0.4 years. A sensitivity analysis was performed on the gold price, operating costs, total CAPEX and Phase 1 off-site transport and processing.

Table 9: Sensitivity Analysis

Gold price sensitivity

Operating costs sensitivity

Capital expenditures sensitivity

Phase 1 Transport and Toll Milling cost sensitivity

Permitting and Environment

According to the Regulation respecting the environmental impact assessment and review of certain projects (chapter Q-2, r. 23.1, last updated on April 1 2025), work required for the operation of a new mine is included in the list of projects subject to the environmental impact assessment and review procedure (Schedule 1). In the regulation, a "mine" is defined as all the surface and underground infrastructures forming part of a mineral substance operation, except surface mineral substances within the meaning of the Mining Act (chapter M-13.1). The scope of the environmental impact assessment will be defined by the directive (guideline) issued by the Ministère de l'Environnement, de la Lutte contre les changements climatiques, de la Faune et des Parcs (MELCCFP) subsequent to the filing of the Project Notice by Amex, in accordance with section 31.2 of the Environment Quality Act (EQA).

An environmental and social scoping study is currently underway to identify the key environmental and social risks and issues associated with the project construction and operation and to more accurately define the scope of the environmental baseline studies required. The acquisition of baseline environmental knowledge on the Perron property began several years ago and is still ongoing today. The environmental baseline studies and early public consultations, help characterize the receiving environment and identify areas that are more ecologically or socially rich or sensitive. This information will be used as part of the environmental assessment process and the feasibility studies to further develop and optimize the project with the objective of ensuring the project environmental and social acceptability.

Once the environmental assessment and review procedure is completed and the project is approved, the various project components will require specific provincial and federal permits and authorizations. At the provincial level, this will include ministerial authorizations that must be electronically filed with the appropriate forms to comply with the EQA and the Regulation respecting the regulatory scheme applying to activities on the basis of their environmental impact (REAFIE) (Q-2, r. 17.1), the Mining Act (chapter M-13.1), as well as other provincial acts and regulations. At the federal level, some project components and impacts may require specific authorizations according to federal legal and regulatory framework, including authorizations under the Fisheries Act (R.S.C., 1985, c. F-14, the Metal and Diamond Mining Effluent Regulations (SOR/2002-222) and other federal acts and regulations.

Stakeholder Engagement

The aboriginal community affected by Amex's activities is the Abitibiwinni First Nation which is an Algonquin First Nation residing primarily in the community of Pikogan in the Abitibi-Temiscamingue region. The Pikogan community, also called Abitibiwinni, is located three (3) kilometers from the town of Amos on the west bank of the Harricana River. The Perron project is located on a part of the ancestral territory of the Algonquin Anishinabeg Nation. A relationship of trust and respect has been built with the Abitibiwinni First Nation Council over the years through consistent transparency and consultation. With respect to local communities near the project, Normétal, Valcanton and Saint-Lambert are the main municipalities surrounding the Perron project.

Amex has always prioritized engaging stakeholders and implementing communication and consultation plans. Communication plans include a summary of the work completed on the property every six months as well as the company's exploration and development plans for the coming months. Active community participation in the development and implementation of the project is one of Amex's core values and aids in fostering good long-term relationships. Amex will continue consulting, supporting and informing all stakeholders at all stages of the project development. With this in mind, Ames aims to establish various working and consultation committees by the end of 2025.

Exploration Update

With the recent acquisition of the Perron West property (see press release dated March 25, 2025) quadrupling Amex's land holdings along the Normétal-Burntbush greenstone belt, the Company's exploration plans are significantly expanding to cover the vast, new area of prospective geology. Amex's constant evolution of knowledge of the mineralization styles and structures with the Beaupré Block on Perron will provide invaluable insight into guiding exploration on the Company's expanded land package.

Currently, Amex has multiple teams conducting surface exploration work on the 15,192-hectare Perron West project. Teams of technicians are completing large and widespread soil sampling programs to find and/or further define gold-in-soil anomalies, while teams of geologists are completing surface prospecting work, including mapping, grab sampling, structural measurements of outcrops, etc. The work is expected to be completed in the coming weeks, with the results to help further define the existing anomalies on the property and further solidify drill planning for a maiden program on Perron West in 2026.

In addition, structural geology specialists from consultant Norda Stelo are continuing work on a thoroughly detailed 3D lithostructural model on the Perron property. This project is nearing completion and will help guide drill planning for the remainder of the year and into 2026 at Perron. The outcomes from this model will also improve Amex's understand and build upon a larger scaled regional structural framework, that will aid drill planning efforts on the Perron West property.

The Company will update the market with more in-depth details on drill planning for Perron in the near future.

Mineral Resource Estimate

The updated PEA was based on the NI 43-101 compliant Perron Project MRE, with an effective date of May 21, 2025 (please see the linked press release). The mineral resources that have flowed to the mine plan at Perron come from multiple zones, with major contributions from the Champagne, Denise, Team, Grey Cat and Gratien zones.

Table 1: Summary of total Mineral Resources at the Perron Project

Perron Gold project Mineral Estimate notes:

• The Mineral Resource Estimate is compliant with CIM 2019 Best Practices Guidelines for reporting Mineral Resources and Reserves.
• Mineral Resources are presented undiluted and in situ and are considered to have reasonable prospects for eventual economic extraction. The Mineral Resources near surface are constrained by pit optimization surfaces and the underground Mineral Resources are constrained by potentially mineable stope shapes.
• The database is comprised of a total of 1,807 drill holes for 608492.30 metres of drilling (which includes historical drilling completed by previous operators, abandoned and exploration holes) in the extent of the Mineral Resource, of which (359 087.40 metres) 305,523 samples were assayed as of March 31, 2025, grid spacing is variable.
• All NQ core assays reported by Amex were obtained by analytical methods described below under "QA/QC".
• Geological interpretation of the zones was based on lithologies, mineralized zones orientation and cut-off grade considerations. Each zone has its own characteristic of mineral occurrence and amount of recoverable gold.
• Geological wireframe interpretation was initially made from cross-sections at intervals in GEMS^TM, and then completed in Leapfrog^TM where selections of mineralized intervals were combined to generate mineralized wireframes. Wireframes are generally subvertical with various plunges.
• The Mineral Resource Estimate encompasses a total of 115 wireframes, sub-vertical gold-bearing domains, each defined by individual wireframes with a minimum downhole width of 2.0 m.
• Assay Samples were composited within the mineralization envelopes into 1.0 m length composites. A value of 0.001 g/t Au was applied in cases of drill core not assayed.
• High-grade capping was done on composite data and established using a statistical analysis on a per-zone basis for gold. Capping varied from 5 g/t Au to 500 g/t Au and was applied on composites within each specific wireframe.
• Bulk density values were applied on the different mineralized zones varied from 2.7 to 2.8 t/m³ based on site drill core measurements.
• Inverse distance cubed grade interpolation was used.
• Grade estimates are based on a parent block dimension of 5m x 5m x 5m with sub-cells down to 1m x 1m x 1m. Search parameters were determined by variography.
• The Perron Mineral Resource Estimate is classified as Measured, Indicated and Inferred as follows:
  • The Measured Mineral Resource classification is defined by areas where drill hole sample spacing is less than 10 m, blocks are informed by a minimum of three drill holes, and reasonable geological and grade continuity is shown.
  • The Indicated Mineral Resource classification is defined by areas where drill spacing is less than 30 m (except Champagne Zone at 40 m), blocks are informed by a minimum of two drill holes, and reasonable geological and grade continuity is shown.
  • The Inferred Mineral Resource classification is defined by the limits of the constraining wireframes, blocks are informed by a minimum of one drill hole, and reasonable, however, not verified, geological and grade continuity is observed.
• Grade estimates use metric units (metres, tonnes and g/t). Metal contents are presented in troy ounces (metric tonnes x grade / 31.10348).
• The QPs are not aware of any known environmental, permitting, legal, title-related, taxation, socio-political or marketing issues, or any other relevant issues that could materially affect the Mineral Resource Estimate.

Further details regarding the 2025 updated Mineral Resource Estimate, key assumptions, parameters and methods used to estimate the Mineral Resources of the Perron Gold Project are available on SEDAR+ (www.sedarplus.ca) under the Corporation's issuer profile in accordance with NI 43-101.

Qualified Persons

The qualified persons independent of the issuer, responsible for the technical information in this Press Release are Stephen Coates, P.Eng. of Evomine, Alexandre Burelle, P.Eng. of Evomine, Florent Baril, P.Eng. of Bumigeme, Antoine Yassa P.Geo. of P&E, Charles Spath, M.Sc., P.Geo. of P&E, Yungang Wu, M.Sc., P.Geo. of P&E, Eugene Puritch, P.Eng., FEC, CET of P&E, Denys Vermette, P.Geo. of Norda Stelo and Jérôme Augustin, Ph.D., P.Geo. of Laurentia Exploration. They declare that they have read this press release and that the scientific and technical information relating to the resource estimate and preliminary economic assessment presented therein are correct.

Disclosure

Non-GAAP financial measures

The Company has included certain non-GAAP financial measures in this document. These financial measures are not defined under IFRS and should not be considered in isolation. The Company believes that these financial measures, together with financial measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Company. The inclusion of these financial measures is meant to provide additional information and should not be used as a substitute for performance measures prepared in accordance with IFRS. These financial measures are not necessarily standard and therefore may not be comparable to other issuers.

All-in sustaining cost

All in sustaining cost is a non-GAAP financial measure calculated based on guidance published by the World Gold Council ("WGC"). The WGC is a market development organization for the gold industry and is an association whose membership comprises leading gold mining companies. Although the WGC is not a mining industry regulatory organization, it worked closely with its member companies to develop these metrics. Adoption of the all-in sustaining cost metric is voluntary and not necessarily standard, and therefore, this measure presented by the Company may not be comparable to similar measures presented by other issuers. The Company believes that the all-in sustaining cost measure complements existing measures and ratios reported.

All-in sustaining cost includes both operating and capital costs required to sustain gold production on an ongoing basis. Sustaining operating costs represent expenditures expected to be incurred that are considered necessary to maintain production. Sustaining capital represents expected capital expenditures comprising mine development costs, including capitalized waste, and ongoing replacement of mine equipment and other capital facilities, and does not include expected capital expenditures for major growth projects or enhancement capital for significant infrastructure improvements.

About Amex Exploration Inc.

Amex Exploration Inc. has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS) zones, at its 100%-owned Perron Gold Project, located approximately 110 kilometres north of Rouyn-Noranda, Quebec. The Project comprises 117 contiguous claims (45.18 km²) and hosts both bulk-tonnage and high-grade gold mineralization styles.

When combined with the adjacent Perron West Project, which includes 48 claims (17.37 km²) in Quebec and 35 claims (134.55 km²) in Ontario, the consolidated land package spans a district-scale 197.52 km². This extensive property lies within highly prospective geology favourable for both high-grade gold and VMS mineralization.

The Project benefits from excellent infrastructure: it is accessible by a year-round road, located just 20 minutes from an airport, and approximately 8 km from the Town of Normétal. It is also in close proximity to several process plants owned by major gold producers.

Montreal, Quebec--(Newsfile Corp. - September 18, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or the "Company") is pleased to announce that the company has submitted a ministerial authorization request under Section 22, paragraph 1 (2 to 5) of Quebec's Environment Quality Act (EQA) for the execution of an underground bulk sampling program at its Perron gold project, located near Normétal in the Abitibi-Témiscamingue region. To meet regulatory requirements, AMEX has retained Norda Stelo, a recognized engineering firm, to conduct the environmental studies and prepare the application package.

The underground bulk sample will be collected at a vertical depth of approximately 230 meters and will focus on the Champagne and the Denise zones, two of the main orebodies on the Perron property. The bulk sample will aim to enhance the geological comprehension of the ore zones, validate parameters used in the resource estimate, confirm mining concepts and obtain mineralized material for large mineral processing and testing purposes. This program will de-risk the development of the Perron project, from a geological, technical and financial perspective.

The application package was submitted to the Ministry of the Environment, the Fight Against Climate Change, Wildlife and Parks (MELCCFP) and to Ministry of Natural Resources and Forests (MRNF).

Subject to approval and receipt of the requisite permits from Quebec government agencies, AMEX expects to commence work in Q1 2026. Approximately 15 months of mine preparation and development will be required before accessing the mineralized material for bulk sampling. The mineralized material will then be mined and sent to a processing plant, using haul trucks.

About Amex

Amex Exploration Inc. has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS) zones, at its 100%-owned Perron Gold Project, located approximately 110 kilometres north of Rouyn-Noranda, Quebec. The project comprises 117 contiguous claims (45.18 km²) and hosts both bulk-tonnage and high-grade gold mineralization styles.

When combined with the adjacent Perron West Project-which includes 48 claims (17.37 km²) in Quebec and 35 claims (134.55 km²) in Ontario-the consolidated land package spans a district-scale 197.52 km². This extensive property lies within highly prospective geology favourable for both high-grade gold and VMS mineralization.

The project benefits from excellent infrastructure: it is accessible by a year-round road, located just 20 minutes from an airport, and approximately 8 km from the town of Normétal. It is also in close proximity to several milling operations owned by major gold producers.

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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, planned exploration programs, the expected positive exploration results, the extension of mineralized zones, the timing of the exploration results, the ability of the Company to continue with exploration programs, 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/266961

Montreal, Quebec--(Newsfile Corp. - September 30, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or the "Company") is pleased to announce that the company has commenced work on the Feasibility Study ("FS") for the first phase of its envisaged operation as outlined in the recently released updated Preliminary Economic Study ("PEA") (please see press release dated September 04, 2025) on the Perron gold project (the "Project"), located near the towns of Normétal and Valcanton in the province of Quebec, Canada.

The Feasibility Study, expected to be completed by Q1 2026, will cover Phase 1 of the Project and envisage the following mining scenario as presented in the above referenced PEA:

• A four- to five-year 1,000 tonnes per day (t/d) contract mining, toll-milling operation located in the Abitibi region, leveraging the area's existing infrastructure and multiple operating processing plants;

• A low initial capital cost estimate of $146.1M, which is partially offset from pre-production revenues of $68.6M for a net Initial CAPEX of $77.5M;

• Average annual gold production exceeding 100,000 oz gold (Au) with an All in Sustaining Cost (AISC) of US$1,165/oz Au;

• An average diluted head grade of 10.07 grams per tonne (g/t).

Victor Cantore, President and CEO of Amex Exploration commented, "Following the robust economics outlined in our recent PEA, we have made the strategic decision to advance directly to a full Feasibility Study for the Perron Asset. Focusing only on Phase 1 of the project will accelerate the project development, positioning AMEX as a near term producer."

Cantore continued, "Given the strong technical and economic parameters demonstrated in the PEA, we are confident that the Feasibility Study will position us to move swiftly into the permitting phase, as well as secure project financing and advance toward development."

Amex will be collaborating with various Quebec based consulting firms to construct the Feasibility Study on the Perron Project, including Evomine Consulting Inc., Norda Stelo, Soutex Inc., A2GC and Hydro Ressources.

A second Feasibility Study for Phase 2 production will commence at a later date. The staged production strategy derisks the project, simplifies the permitting process, accelerates time to revenue (targeting 2028) and minimizes shareholder dilution, with Phase 2 mine construction financed from free cash flow generated during Phase 1 production.

Qualified Persons

The technical information in this news release has been reviewed and approved by Aaron Stone, P. Geo. (OGQ 2170 and PGO 3708) for the Perron West Project in Ontario and Jérôme Augustin P.Geo. Ph.D., (OGQ 2134) for the Perron Project in Quebec (collectively, the "Qualified Persons").

About Amex

Amex Exploration Inc. has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS) zones, at its 100%-owned Perron Gold Project, located approximately 110 kilometres north of Rouyn-Noranda, Quebec. The project comprises 117 contiguous claims (45.18 km²) and hosts both bulk-tonnage and high-grade gold mineralization styles.

When combined with the adjacent Perron West Project-which includes 48 claims (17.37 km²) in Quebec and 35 claims (134.55 km²) in Ontario-the consolidated land package spans a district-scale 197.52 km². This extensive property lies within highly prospective geology favourable for both high-grade gold and VMS mineralization.

The project benefits from excellent infrastructure: it is accessible by a year-round road, located just 20 minutes from an airport, and approximately 8 km from the town of Normétal. It is also in close proximity to several milling operations owned by major gold producers.

Keep up-to-date with Amex Exploration developments and join our online communities on X, Facebook, LinkedIn, Instagram and YouTube.

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, planned exploration programs, the expected positive exploration results, the extension of mineralized zones, the timing of the exploration results, the ability of the Company to continue with exploration programs, 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/268497

Montreal, Quebec--(Newsfile Corp. - October 20, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or the "Company") is pleased to announce that the Corporation has filed the NI 43-101 compliant Updated Preliminary Economic Assessment ("PEA") technical report for AMEX's 100% owned Perron gold project in Québec, Canada, with an effective date of September 4, 2025 (the "Report"). Report results were previously announced in AMEX's news release dated September 4, 2025.

The Qualified Persons ("QP") for this Technical Report are the following:

• Antoine Yassa, P. Geo. P&E Mining Consultants Inc.
• Jérôme Augustin, P. Geo., Ph.D. Laurentia Exploration Inc.
• Stephen Coates, P. Eng. Evomine Consulting Inc.
• Alexandre Burelle, P. Eng. Evomine Consulting Inc.
• Florent Baril, P. Eng. Bumigeme Inc.
• Denys Vermette, P. Geo. Norda Stelo

Perron updated Preliminary Economic Assessment Highlights:

The Perron PEA was updated to incorporate the latest Mineral Resource Estimate (MRE - released May 21^st, 2025) and a new project development strategy. The following assumed a gold price of US$2,500/ounce ("oz") and a C$/US$ exchange rate of 1.38:1.

• Staged production strategy derisks the project, simplifies the permitting process, accelerates time to revenue (targeting 2028) and minimizes shareholder dilution, with Phase 2 mine construction financed from free cash flow.

• Phase 1:

  • 4-year 1,000 tpd contract mining, toll-milling operation in the Abitibi region, where numerous processing plants are in operation;

  • Low initial capital cost estimate of $146.1M which is partially offset from pre-production revenues of $68.6M for a net Initial CAPEX of $77.5M;

  • Average annual gold production of 102,000 oz gold ("Au") at an All in Sustaining Cost ("AISC") of US$1,165/oz Au;

  • Average diluted head grade of 10.07 grams per tonne ("gpt") for 0.41 million oz Au

• Phase 2

  • 13-year 2,000 tpd owner operated mine with on-site processing facility;

  • Growth capital of $191.6M;

  • Average annual production of 93,000 oz Au at an AISC of US$1,027/oz Au;

  • Average diluted head grade of 4.32 gpt for 1.25 million oz Au.

• Life of Mine ("LOM") of 17.5 years;

• Average annual production of 95,000 oz Au, or 1.66 million oz Au over LOM, including an average per year of 112,000 oz for the first 10 years.

• LOM Average diluted grade of 5.07 gpt Au;

• LOM AISC of US$1,061/oz Au;

• LOM Sustaining Capex of $386.3M;

• Pre-tax NPV of $1,885M and After-tax NPV of $1,085M;

• Pre-tax IRR of 99.1% and After-tax IRR of 70.1%;

• Cumulative Pre-tax Undiscounted Net Free Cash Flow of $3,010M and Cumulative After-tax Undiscounted Net Free Cash Flow of $1,768M;

• Pre-tax payback period of 1.1 years and After-tax payback period of 1.4.

The full Report entitled "NI 43-101 Technical Report, Preliminary Economic Assessment, Perron Project, Quebec, Canada" can be found on the Company's website (www.amexexploration.com) and on SEDAR+ (www.sedarplus.ca).

The PEA is preliminary in nature and includes inferred mineral resources. Inferred mineral resources are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves and there is no certainty that the PEA will be realized. Mineral resources that are not mineral reserves have not demonstrated economic viability. Additional drilling will be required to convert inferred mineral resources to indicated or measured mineral resources. There is no certainty that the resources development, production, and economic forecasts on which this PEA is based will be realized.

Scientific and technical information presented in this news release was reviewed and approved by Stephen Coates, P. Eng., an independent "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects (the "Qualified Person").

Non-IFRS Financial Measures

The Company has included certain non-IFRS financial measures in this news release, such as initial capital cost, sustaining capex, and AISC, which are not measures recognized under IFRS and do not have a standardized meaning prescribed by IFRS. As a result, these measures may not be comparable to similar measures reported by other corporations. Each of these measures used are intended to provide additional information to the user and should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS. Non-IFRS financial measures used in this news release and common to the gold mining industry are defined below.

AISC and AISC per Ounce

AISC is reflective of all of the expenditures that are required to produce an ounce of gold from operations. AISC reported in the PEA includes total cash costs, sustaining capital, closure costs and salvage, but excludes corporate general and administrative costs. AISC per ounce is calculated as AISC divided by payable gold ounces.

About Amex

Amex Exploration Inc. has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS) zones, at its 100%-owned Perron Gold Project, located approximately 110 kilometres north of Rouyn-Noranda, Quebec. The Project comprises 117 contiguous claims (45.18 km²) and hosts both bulk-tonnage and high-grade gold mineralization styles.

When combined with the adjacent Perron West Project, which includes 48 claims (17.37 km²) in Quebec and 35 claims (134.55 km²) in Ontario, the consolidated land package spans a district-scale 197.52 km². This extensive property lies within highly prospective geology favourable for both high-grade gold and VMS mineralization.

The Project benefits from excellent infrastructure: it is accessible by a year-round road, located just 20 minutes from an airport, and approximately 8 km from the Town of Normétal. It is also in close proximity to several process plants owned by major gold producers.

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 statements of historical fact, contained in this news release including, but not limited to those describing the impact of the foregoing on the Perron Gold Project economics, PEA results (as such results are commented in the text of this news release), including CAPEX, OPEX, NPV and IRR, the estimated value of the Perron Gold Project, operations development scenarios for the Perron Gold Project, commercial and technical parameters, the attractive economics for the Perron Gold Project, LOM plans, the Company's intended marketing strategy, market trends, future gold prices, the impact of the Perron Gold Project on the local communities, including job creation, the projected annual production of the Company's operations, the timelines and costs related to the various initiatives, deliverables and milestones described in this news release and their expected results, the Company's expected financial and operational performance, the nature of relationships with stakeholders such as the local community including the Abitibiwinni First Nation, Mineral Resource estimates (including assumptions and estimates used in preparing the Mineral Resource estimates), the general business and operational outlook of the Company, the Company's future growth and business prospects, and those statements which are discussed under the "About Amex" paragraph and elsewhere in the news release which essentially describe the Company's outlook and objectives, constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws, and are based on expectations, estimates and projections as of the time of this news release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Moreover, these forward-looking statements were based upon various underlying factors and assumptions, including the business relationship between the Company and its stakeholders, the ability to operate in a safe and effective manner, the timely delivery and installation at estimated prices of the equipment supporting the production, assumed sale prices for gold, the accuracy of any Mineral Resource estimates, future currency exchange rates and interest rates, political and regulatory stability, prices of commodity and production costs, the receipt of governmental, regulatory and third party approvals, licenses and permits on favourable terms, sustained labour stability, stability in financial and capital markets, availability of equipment and critical supplies, spare parts and consumables, various tax assumptions, CAPEX and OPEX estimates, the Perron Gold Project permits' status, all economic and operational projections relating to the project, local infrastructures, the Company's business prospects and opportunities and estimates of the operational performance of the equipment, and are not guarantees of future performance.

Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, delays in the scheduled delivery times of equipment, the ability of the Company to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability of financing or financing on favorable terms for the Company, the dependence on commodity prices, the impact of inflation on costs, the risks of obtaining the necessary permits, the operating performance of the Company's assets and businesses, competitive factors in the gold mining and production industry, changes in laws and regulations affecting the Company's businesses, political and social acceptability risk, environmental regulation risk, currency and exchange rate risk, technological developments, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. A further description of risks and uncertainties can be found in the Company's annual Management's Discussion and Analysis, including in the section thereof captioned "Risk Factors", which is available on SEDAR+ at www.sedarplus.ca. Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.

Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/271065

Montréal, Québec--(Newsfile Corp. - October 21, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or "the Company") is pleased to announce assay results from a geomechanical drill program conducted on the Champagne Zone as part of its ongoing Phase 1 Feasibility Study on the Perron Project, located in northwestern Abitibi, Quebec. The three-hole drill program was designed to conduct rock mass characterization of the main lithological units within the immediate area of the Champagne Zone. Hole PEGT-25-001 returned 213.11 g/t Au over 3.75 m, which included 1106.50 g/t Au over 0.50 m, the latter of which represents Amex's highest ever grade assay to date on the property. While the main purpose of the program was focused on rock mechanics in the areas envisaged for toll mining of the Champagne Zone (see PEA press release dated September 4, 2025 for mine plan details), the Company is encouraged to see the robustness and continuity of high-grade mineralization that the zone continues to display.

Champagne Zone Geomechanical Drill Result Highlights:

• 25.19 g/t Au over 32.80 m including 213.11 g/t Au over 3.75 m in PEGT-25-001 at vertical depth of ~200 m
• 3.59 g/t Au over 11.70 m including 58.28 g/t Au over 0.70 m in PEGT-25-003 at a vertical depth of ~420 m

See Figure 1 for location of the geomechanical drill holes, Figure 2 for a longitudinal of the Champagne Zone, Figure 3 for images of visible gold and Figure 4 for details of the geomechanical program design. Table 1 contains assays results and Table 2 displays drill hole coordinates.

Aaron Stone, P.Geo, Vice President Exploration of Amex Exploration commented, "The geomechanical program was designed with the primary goal of gathering information on all aspects of the rock mechanics surrounding the high-grade Champagne Zone, which is envisaged for toll-milling as described by our latest PEA study. These holes were designed to best intercept the important structures within and surrounding the Champagne Zone and not necessarily placed in important zones of mineralization, so the fact that PEGT-25-001 has produced the highest-grade assay to date on the property, is exceptional. It is also important to note that, as we had ample analytical data in the areas surrounding the geomechanical drilling, the decision was made to send the whole core for analysis. A whole core analysis provides a truer representation of the mineralization, so it is extremely encouraging to observe the robustness of high-grade that the zone continues to display."

Victor Cantore, CEO and President of Amex Exploration added, "The Feasibility Study for Phase 1 of operations at Perron is advancing well with the completion of the geomechanical drilling program. Initial results from the program show good rock mass quality in the rhyolite that hosts the Champagne Zone, ideal for underground mining. The critical data collected will guide stope dimensions for Phase 1 operations, which will in turn decide the mining rate achievable for the project. Additional important studies surrounding hydrogeology, geochemical analysis of ore and waste material and environmental studies, among others, are also progressing well. Today's high-grade assay results further confirm our confidence in the project and the exceptional continuity of mineralization within the Champagne Zone."

Figure 1: Geological map of the Champagne Zone displaying the drill holes completed for the geomechanical program.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/271286_49d6d2cb1422fa05_002full.jpg

Figure 2: Longitudinal of the Champagne Zone looking to the south displaying the pierce points of the geomechanical holes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/271286_49d6d2cb1422fa05_003full.jpg

Figure 3: Photos of visible gold in the Champagne Zone from drill holes PEGT-25-001, 002 and 003. Mineralization is represented by gold bearing quartz-carbonate-sulfide veins with visible gold hosted in the aphanitic Beaupré rhyolite. Abbreviation: VG - Visible Gold.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/271286_49d6d2cb1422fa05_004full.jpg

Description of the Geomechanical Program

The main objectives of the geomechanical program were to gather as much information as possible surrounding all aspects of rock mechanics of the Champagne Zone. This includes all characteristics of important joint sets and fractures in the area across the multiple lithologies encountered as well as their mechanical strength.

PEGT-25-001 was designed to intercept the western portion of the planned stoping area, drilling to the north-east. The hole transected the S1 fault.

PEGT-25-002 was designed to intercept the central portion of the planned stoping area, drilling to the north. The hole was drilled through the gabbro of the Champagne Zone, in the planned development area, and also reached the S2 Fault.

PEGT-25-003 was designed to intercept the eastern portion of the planned stoping area, drilling to the south-east. The hole started in the shallow portions of the planned development area and crosses the I3B (diabase) intrusion as well as the intersection of the Main and S1 Faults.

The orientation of the 2025 geomechanical drillholes was varied to capture data in all portions of the stereonet, as best as possible.

Figure 4: Location of drillholes from the 2025 geomechanical program. Champagne Zone stoping area is displayed as green.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/271286_49d6d2cb1422fa05_005full.jpg

Discussion of Geomechanical Results

Rock mass classification of the rhyolite was established. Preliminary analyses suggest a mode Q' value of 11. There are occasional highly fractured intervals at the contact (northern/southern) of the gabbro (I3A) and the rhyolite (V1B). This is not systematic; in most cases the thickness of these fractured intervals appears to be under 1 m. The Main Fault appears to be associated with highly fractured ground over a thickness of a few meters.

The strength testing results suggest that the rock mass is competent and rigid. The average UCS in the rhyolite is 116 MPa and the average Young's modulus is 71 GPa. There is a strong contrast between the rhyolite and the intrusives. The average UCS in the I3B (diabase) dyke crossing the stoping area is 334 MPa and the average Young's modulus is 100 GPa. Mitigation measures will be integrated to the mining sequence to minimize excessive stress concentration in the most rigid units.

Televiewer surveying was also conducted in the three geomechanical drillholes but also in 17 other holes drilled in 2019, 2020 and 2021. A dominant north-south trending sub-vertical joint set was identified, as well as a north-west - south-east steeply dipping set. A sub-vertical north-east - south-west joint set was also identified. A horizontal joint set is visible at shallow depths (less than 200 meters).

Results from the rock mass characterization will be used as inputs for rock mechanic assessments in support of the mine design. They will also feed a numerical stress model from which geomechanical risk profiles of the mining sequence will be established.

Table 1: Assay results from the geomechanical drill program conducted on the Champagne Zone.

Note: The geomechanical holes were not drilled perpendicular to the zone and were planned to best intercept and gather information on important structures. Estimated true thicknesses are displayed alongside core length for reference. MF = metal factor. MF1 = core length metal factor. MF2 = true length metal factor.

Table 2: Drillhole coordinates for today's results.

Qualified Person and QA&QC

Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), an Independent Qualified Person as defined by Canadian NI 43-101 standards, 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 and 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.

The Qualified Person has not completed sufficient work to verify the historical information on the Property or neighbouring projects, particularly in regards to historical drill results. However, the Qualified Person believes that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.

About Amex

Amex Exploration Inc. has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS) zones, at its 100%-owned Perron Gold Project, located approximately 110 kilometres north of Rouyn-Noranda, Quebec. On June 25, 2025, the MRNF converted the Perron claims from 117 to 135 contiguous claims, maintaining the same surface area of 45.18 km². The project hosts both bulk-tonnage and high-grade gold mineralization styles.

When combined with the adjacent Perron West Project, which includes 48 claims (17.37 km²) in Quebec and 35 claims (134.55 km²) in Ontario, the consolidated land package spans a district-scale 197.52 km². This extensive property lies within highly prospective geology favourable for both high-grade gold and VMS mineralization.

The Project benefits from excellent infrastructure: it is accessible by a year-round road, located just 20 minutes from an airport, and approximately 8 km from the Town of Normétal. It is also in close proximity to several process plants owned by major gold producers.

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 statements of historical fact, contained in this news release including, but not limited to those describing the impact of the foregoing on the Perron Gold Project economics, PEA results (as such results are commented in the text of this news release), including CAPEX, OPEX, NPV and IRR, the estimated value of the Perron Gold Project, operations development scenarios for the Perron Gold Project, commercial and technical parameters, the attractive economics for the Perron Gold Project, LOM plans, the Company's intended marketing strategy, market trends, future gold prices, the impact of the Perron Gold Project on the local communities, including job creation, the projected annual production of the Company's operations, the timelines and costs related to the various initiatives, deliverables and milestones described in this news release and their expected results, the Company's expected financial and operational performance, the nature of relationships with stakeholders such as the local community including the Abitibiwinni First Nation, Mineral Resource estimates (including assumptions and estimates used in preparing the Mineral Resource estimates), the general business and operational outlook of the Company, the Company's future growth and business prospects, and those statements which are discussed under the "About Amex" paragraph and elsewhere in the news release which essentially describe the Company's outlook and objectives, constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws, and are based on expectations, estimates and projections as of the time of this news release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Moreover, these forward-looking statements were based upon various underlying factors and assumptions, including the business relationship between the Company and its stakeholders, the ability to operate in a safe and effective manner, the timely delivery and installation at estimated prices of the equipment supporting the production, assumed sale prices for gold, the accuracy of any Mineral Resource estimates, future currency exchange rates and interest rates, political and regulatory stability, prices of commodity and production costs, the receipt of governmental, regulatory and third party approvals, licenses and permits on favourable terms, sustained labour stability, stability in financial and capital markets, availability of equipment and critical supplies, spare parts and consumables, various tax assumptions, CAPEX and OPEX estimates, the Perron Gold Project permits' status, all economic and operational projections relating to the project, local infrastructures, the Company's business prospects and opportunities and estimates of the operational performance of the equipment, and are not guarantees of future performance.

Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, delays in the scheduled delivery times of equipment, the ability of the Company to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability of financing or financing on favorable terms for the Company, the dependence on commodity prices, the impact of inflation on costs, the risks of obtaining the necessary permits, the operating performance of the Company's assets and businesses, competitive factors in the gold mining and production industry, changes in laws and regulations affecting the Company's businesses, political and social acceptability risk, environmental regulation risk, currency and exchange rate risk, technological developments, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. A further description of risks and uncertainties can be found in the Company's annual Management's Discussion and Analysis, including in the section thereof captioned "Risk Factors", which is available on SEDAR+ at www.sedarplus.ca. Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.

Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/271286

Montreal, Quebec--(Newsfile Corp. - October 31, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or the "Company") is pleased to announce that it has been awarded the Discovery of the Year by the Quebec Mineral Exploration Association (QMEA) for its outstanding contribution to mineral exploration through the company's exceptional discovery on its Perron Gold Property, located in the Abitibi Greenstone Belt of northwestern Quebec.

This prestigious award recognizes a discovery that has generated a significant ripple effect in exploration activity, not only on the property itself but also across the surrounding region. The Discovery of the Year highlights projects that demonstrate strong continuity, geological significance, and compelling economic potential-criteria that the Perron Gold Project has decisively met.

"We are deeply honoured to receive this recognition from the QMEA," said Victor Cantore, President and CEO of Amex Exploration. "This award is a testament to the hard work, technical excellence, and vision of our entire exploration team. The Perron discovery continues to inspire renewed exploration interest throughout the Abitibi region, underscoring Quebec's world-class position as a premier mining jurisdiction."

The Perron Gold Property discovery has unveiled multiple high-grade gold zones, including the Champagne Zone which boast some of the highest-grade gold intercepts reported in Canada in recent years. These results have drawn attention from across the exploration community and have contributed to a surge in regional staking and investment.

Amex Exploration's ongoing drilling and exploration success at Perron continue to reveal a robust mineralized gold system with continuity and scalability. The project's economic potential and exploration upside have positioned it as one of Quebec's most promising gold discoveries in recent years.

The recent Preliminary Economic Assessment published by Amex Exploration highlights the project's economic potential with a Gold Mineral Resource Estimate (May 2025) of:

• 1.615 million ounces of Measured & Indicated @ 6.14 g/t Au in 8.18 MT
• 698,000 ounces of Inferred @ 4.31 g/t Au in 5.04 MT

The updated Preliminary Economic Assessment (PEA) (at US$3,400/oz gold, all number are Pre-tax) (September2025):

• IRR of 148.7%
• NPV (5%) of C$3.2 billion
• Cash flow of C$5.1 billion
• Payback period of only 0.2 years

"This award reflects the power of perseverance in exploration," added Cantore. "We are proud to contribute to the growth and vitality of Quebec's mining industry and look forward to advancing this exciting discovery towards production."

The Quebec Mineral Exploration Association (QMEA) annually presents the Discovery of the Year award to recognize excellence in exploration and the identification of new mineral resources that strengthen Quebec's mining future.

Qualified Person and QA&QC

Scientific and technical information presented in this news release was reviewed and approved by Stephen Coates, P. Eng. of Evomine Consulting Inc., an independent "Qualified Person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects (the "Qualified Person").

About Amex

Amex Exploration Inc. has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS) zones, at its 100%-owned Perron Gold Project, located approximately 110 kilometres north of Rouyn-Noranda, Quebec. On June 25, 2025, the MRNF converted the Perron claims from 117 to 135 contiguous claims, maintaining the same surface area of 45.18 km². The project hosts both bulk-tonnage and high-grade gold mineralization styles.

When combined with the adjacent Perron West Project, which includes 48 claims (17.37 km²) in Quebec and 35 claims (134.55 km²) in Ontario, the consolidated land package spans a district-scale 197.52 km². This extensive property lies within highly prospective geology favourable for both high-grade gold and VMS mineralization.

The Project benefits from excellent infrastructure: it is accessible by a year-round road, located just 20 minutes from an airport, and approximately 8 km from the Town of Normétal. It is also in close proximity to several process plants owned by major gold producers.

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 statements of historical fact, contained in this news release including, but not limited to those describing the impact of the foregoing on the Perron Gold Project economics, PEA results (as such results are commented in the text of this news release), including CAPEX, OPEX, NPV and IRR, the estimated value of the Perron Gold Project, operations development scenarios for the Perron Gold Project, commercial and technical parameters, the attractive economics for the Perron Gold Project, LOM plans, the Company's intended marketing strategy, market trends, future gold prices, the impact of the Perron Gold Project on the local communities, including job creation, the projected annual production of the Company's operations, the timelines and costs related to the various initiatives, deliverables and milestones described in this news release and their expected results, the Company's expected financial and operational performance, the nature of relationships with stakeholders such as the local community including the Abitibiwinni First Nation, Mineral Resource estimates (including assumptions and estimates used in preparing the Mineral Resource estimates), the general business and operational outlook of the Company, the Company's future growth and business prospects, and those statements which are discussed under the "About Amex" paragraph and elsewhere in the news release which essentially describe the Company's outlook and objectives, constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws, and are based on expectations, estimates and projections as of the time of this news release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Moreover, these forward-looking statements were based upon various underlying factors and assumptions, including the business relationship between the Company and its stakeholders, the ability to operate in a safe and effective manner, the timely delivery and installation at estimated prices of the equipment supporting the production, assumed sale prices for gold, the accuracy of any Mineral Resource estimates, future currency exchange rates and interest rates, political and regulatory stability, prices of commodity and production costs, the receipt of governmental, regulatory and third party approvals, licenses and permits on favourable terms, sustained labour stability, stability in financial and capital markets, availability of equipment and critical supplies, spare parts and consumables, various tax assumptions, CAPEX and OPEX estimates, the Perron Gold Project permits' status, all economic and operational projections relating to the project, local infrastructures, the Company's business prospects and opportunities and estimates of the operational performance of the equipment, and are not guarantees of future performance.

Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, delays in the scheduled delivery times of equipment, the ability of the Company to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability of financing or financing on favorable terms for the Company, the dependence on commodity prices, the impact of inflation on costs, the risks of obtaining the necessary permits, the operating performance of the Company's assets and businesses, competitive factors in the gold mining and production industry, changes in laws and regulations affecting the Company's businesses, political and social acceptability risk, environmental regulation risk, currency and exchange rate risk, technological developments, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. A further description of risks and uncertainties can be found in the Company's annual Management's Discussion and Analysis, including in the section thereof captioned "Risk Factors", which is available on SEDAR+ at www.sedarplus.ca. Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.

Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/272712

Montreal, Quebec--(Newsfile Corp. - November 3, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or "the Company") is pleased to provide details on the remainder of its 2025 drilling activities in addition to announcing initial plans for an extensive, fully budgeted 2026 exploration program that will see up to 100,000m of drilling across the flagship Perron Project, located in northwestern Abitibi, Quebec and the Perron West Project in Ontario (see Figure 1 below). The 2026 program will see Amex conduct one of the most aggressive drill programs for a junior developer across Canada.

Aaron Stone, P.Geo, VP Exploration of Amex Exploration commented, "I have an enviable exploration budget for the coming year to build on the existing high value ounces at Perron as well as make new discoveries on our vastly expanded land package. We truly believe that we are still at the beginning in terms of the ounces to be discovered on the Normétal-Burntbush greenstone belt which has historically been very underexplored for gold. My geological team and I have identified several highly prospective new targets and have exciting new geological theories waiting to be tested. For the remainder of 2025 our focus will be on the immediate area of the Eastern Gold Zone (EGZ), which is host to the bulk of our current resource. All zones on the property remain open for expansion, providing an excellent opportunity to add ounces at Perron. Details of the 2026 drill program will be forthcoming once finalized."

Figure 1: Geological map of the Normétal-Burntbush greenstone belt, showing the Perron Project in Quebec and Perron West Project in Ontario. The projects are contiguous and when combined, consists of 218 claims covering 20,030 hectares across the two provinces.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/272936_20f3477724620b46_002full.jpg

Remainder of 2025 Program:

Drilling has recently recommenced at Perron with a 10,000m program to be completed before year end. The program is comprised of testing several targets within the EGZ (Eastern Gold Zone), which comprises the Champagne, Denise, Team, E2, JT and Alizée zones. All zones remain open for expansion, providing an opportunity to add ounces to the existing resource base. Goals of the program are as follows (see Figure 2 below):

• Test the northeastern extension of the Champagne Zone.
  • Through an extensive review of existing drilling data, a potential extension of the gabbro unit hosting the Champagne Zone has been identified. Historical exploration targeting of the eastern extension of the zone focused on what was interpreted as a linear ENE (080°) structural trend. However, current interpretations suggest that the gabbro hosting the Champagne Zone may exhibit a flexure toward the northeast. As a result, previous drilling may have been oriented suboptimally relative to the true geometry of the mineralized body. A new drilling program has been designed to test this expansion potential.
• Team Zone extension.
  • To date, no significant deeper drilling has been conducted in the area below current modelled Team Zone (open at depth). Two deep drill holes have been planned to intersect multiple deeper targets in the Team, E2 and Denise East Zones (see Figure 3). Drill hole P-EGZ-25-013 will in fact be the first time in Perron's history that a hole is collared into the Normétal Volcanic Complex to the north, transects the entire rhyolitic dome of the Beaupré Block and finish in the mafic volcanics of the Normétal South Block.
• Central Polymetallic Zone extensions.
  • Drilling has also been planned to test the extensions of the Central Polymetallic Zone (CPZ) in multiple directions. As a reminder, the CPZ is gold-rich VMS system that was discovered in 2013 with hole PE2013-03, that returned 3.84 g/t Au, 23 g/t Ag, 1.4% Zn, 0.10% Cu over 15.20 m. The CPZ has also been seen to host very high-grade gold (see press release dated November 6, 2024 for drill hole PE-24-801 returned 1.80 m of 134.36 g/t Au, including 0.50 m of 480.73 g/t Au)
• Alizée Zone expansion / condemnation drilling.
  • The Alizée Zone, outlined in purple in Figure 2 below, is expected to host the proposed infrastructure for the Perron bulk sample, the permit for which has been recently submitted to the required Quebec government agencies (see press release dated September 18, 2025). The portal for the mine is to be located in the Alizée outcrop. The current PEA mine plan envisages the Alizée zone being mined in an underground scenario with mineralization starting at vertical depth of 230m. Condemnation drilling is planned for this area to ensure no gold mineralization extends to surface that could potentially be captured in an open pit scenario. If significant mineralization is found in this drilling, the necessary changes will be made to the current PEA mine plan.

Figure 2: Surface map displaying planned drilling for the remainder of 2025.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/272936_20f3477724620b46_003full.jpg

Figure 3: Cross section displaying planned drilling in the Team Zone area. Each drill hole will test multiple targets from different zones.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/272936_20f3477724620b46_004full.jpg

Further details of the 2026 drill program will be announced in the coming months. Drilling will consist of continued resource expansion at Perron and testing regional targets on the Company's vastly expanded land holdings (see press release dated March 25, 2025). Resource conversion drilling for the Phase 2 Feasibility Study, is envisaged to start in 2027.

Moving forward, the provincial border between Quebec and Ontario will be used to distinguish between the Perron and Perron West Projects. The Quebec claims acquired under the Perron West property acquisition (see press release dated April 10, 2025 for the closing of the transaction) will now be included with the Perron Project.

Qualified Persons and QAQC

The technical information in this news release has been reviewed and approved by Aaron Stone, P. Geo. (OGQ 2170 and PGO 3708) for the Perron West Project in Ontario and Jérôme Augustin P.Geo. Ph.D., (OGQ 2134) for the Perron Project in Quebec (collectively, the "Qualified Persons").

The potential grades of exploration targets disclosed in this news release are conceptual in nature. The Qualified Persons have not completed sufficient work to verify the historical information on the Perron West Project, particularly in regards to historical drill results and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The Company has not independently verified and cannot guarantee the accuracy or completeness of the third-party data contained in this news release and investors should use caution in placing reliance on such information; however, the Qualified Persons believe that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Perron West Project but may not be representative of expected results.

About Amex

Amex Exploration Inc. has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS) zones, at its 100%-owned Perron Gold Project, located approximately 110 kilometres north of Rouyn-Noranda, Quebec. The Perron Project in Quebec consists of 183 contiguous claims for a surface area of 65.75 km². The project hosts both bulk-tonnage and high-grade gold mineralization styles.

When combined with the adjacent and contiguous Perron West Project in Ontario, which includes 35 claims (33 multi-cell and 2 single cell claims) for 134.55 km², the consolidated land package spans a district-scale 200.30 km². This extensive property lies within highly prospective geology favourable for both high-grade gold and VMS mineralization.

The Project benefits from excellent infrastructure: it is accessible by a year-round road, located just 20 minutes from an airport, and approximately 8 km from the Town of Normétal. It is also in close proximity to several process plants owned by major gold producers.

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 statements of historical fact, contained in this news release including, but not limited to those describing the impact of the foregoing on the Perron Gold Project economics, PEA results (as such results are commented in the text of this news release), including CAPEX, OPEX, NPV and IRR, the estimated value of the Perron Gold Project, operations development scenarios for the Perron Gold Project, commercial and technical parameters, the attractive economics for the Perron Gold Project, LOM plans, the Company's intended marketing strategy, market trends, future gold prices, the impact of the Perron Gold Project on the local communities, including job creation, the projected annual production of the Company's operations, the timelines and costs related to the various initiatives, deliverables and milestones described in this news release and their expected results, the Company's expected financial and operational performance, the nature of relationships with stakeholders such as the local community including the Abitibiwinni First Nation, Mineral Resource estimates (including assumptions and estimates used in preparing the Mineral Resource estimates), the general business and operational outlook of the Company, the Company's future growth and business prospects, and those statements which are discussed under the "About Amex" paragraph and elsewhere in the news release which essentially describe the Company's outlook and objectives, constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws, and are based on expectations, estimates and projections as of the time of this news release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Moreover, these forward-looking statements were based upon various underlying factors and assumptions, including the business relationship between the Company and its stakeholders, the ability to operate in a safe and effective manner, the timely delivery and installation at estimated prices of the equipment supporting the production, assumed sale prices for gold, the accuracy of any Mineral Resource estimates, future currency exchange rates and interest rates, political and regulatory stability, prices of commodity and production costs, the receipt of governmental, regulatory and third party approvals, licenses and permits on favourable terms, sustained labour stability, stability in financial and capital markets, availability of equipment and critical supplies, spare parts and consumables, various tax assumptions, CAPEX and OPEX estimates, the Perron Gold Project permits' status, all economic and operational projections relating to the project, local infrastructures, the Company's business prospects and opportunities and estimates of the operational performance of the equipment, and are not guarantees of future performance.

Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, delays in the scheduled delivery times of equipment, the ability of the Company to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability of financing or financing on favorable terms for the Company, the dependence on commodity prices, the impact of inflation on costs, the risks of obtaining the necessary permits, the operating performance of the Company's assets and businesses, competitive factors in the gold mining and production industry, changes in laws and regulations affecting the Company's businesses, political and social acceptability risk, environmental regulation risk, currency and exchange rate risk, technological developments, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. A further description of risks and uncertainties can be found in the Company's annual Management's Discussion and Analysis, including in the section thereof captioned "Risk Factors", which is available on SEDAR+ at www.sedarplus.ca. Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.

Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/272936

Montreal, Quebec--(Newsfile Corp. - November 21, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or the "Company") announces a grant of 3,250,000 incentive stock options (the "Options") and 2,026,000 restricted share units (the "RSUs") to certain directors, officers, employees, and consultants to the Company.

Each Option is exercisable to acquire one common share of the Company (a "Share") at a price of $2.85 per Share, for a period of five years from the date of grant. The RSUs shall vest in three equal tranches, with one-third vesting on each of the first, second, and third anniversaries of the date of grant. Upon vesting, each RSU shall entitle the holder to receive one Share. All grants of Options and RSUs are subject to the Company's omnibus equity incentive plan (the "Equity Incentive Plan"), which was approved by shareholders at the Company's annual general and special meeting of shareholders held on June 30, 2025 (the "Meeting"). A copy of the Equity Incentive Plan is included in the Company's management information circular in respect of the Meeting dated May 12, 2025 available via the Company's profile on SEDAR+ at www.sedarplus.ca.

All of the Options and RSUs (and any Shares issuable upon exercise or settlement thereof) will be subject to a four month and one day hold period from the date of grant pursuant to the policies of the TSX Venture Exchange).

About Amex

Amex Exploration Inc. has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS) zones, at its 100%-owned Perron Gold Project, located approximately 110 kilometres north of Rouyn-Noranda, Quebec. The Project comprises 117 contiguous claims (45.18 km²) and hosts both bulk-tonnage and high-grade gold mineralization styles.

When combined with the adjacent Perron West Project, which includes 48 claims (17.37 km²) in Quebec and 35 claims (134.55 km²) in Ontario, the consolidated land package spans a district-scale 197.52 km². This extensive property lies within highly prospective geology favourable for both high-grade gold and VMS mineralization.

The Project benefits from excellent infrastructure: it is accessible by a year-round road, located just 20 minutes from an airport, and approximately 8 km from the Town of Normétal. It is also in close proximity to several process plants owned by major gold producers.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/275565

Becomes one of the largest land holders in the Abitibi region - holds 70 km along strike of Normétal-Burntbush greenstone belt

Montreal, Quebec--(Newsfile Corp. - December 1, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or "the Company") is pleased to announce that it has entered into an asset purchase agreement (the "APA") with an arm's length vendor to acquire two projects immediately adjacent to the existing Amex land package, individually named the Abbotsford Project and the Hepburn Project (the "Transaction"). In addition to these acquisitions, the Company has acquired, through claim staking, the continuation of these greenstone belts, and now controls approximately 70 km of strike length of the prolific Abitibi greenstone belt (see Figure 1). When combined with the existing land holdings of Perron and Perron West, the Company will increase its footprint from 19,972 hectares (199.72 km²) to 50,108 hectares (501.08 km²).

Amex has extended its holdings to the northwest along the Normétal-Burntbush greenstone belt, which hosts Perron's 2.3 million ounce resource (see press release dated May 21, 2025).

Details of the acquisitions and claim staking are as follows:

• The Abbotsford Project consists of 242 claims for a total of 6,253.47 hectares;
• The Hepburn Project consists of 82 claims for a total of 2,139.45 hectares;
• 890 claims acquired though staking for the continuation of the Abbotsford project for a total of 18,753.17 hectares; and
• 141 claims acquired through claim staking for the continuation of the Hepburn project, for a total of 2,990.16 hectares.

Victor Cantore, President & CEO of Amex Exploration commented, "Based on our extensive exploration of the Perron property, we see the Normétal-Burntbush greenstone belt, which adjoins the Casa Berardi deformation zone to the northwest, as being extremely prospective for future gold and VMS discoveries. With these acquisitions, we have constructed a truly district scale land package which is controlled by one company, rarely seen in the Abitibi region. The Normétal-Burntbush greenstone belt remains heavily underexplored for gold, while holding several historical showings that never had substantial follow-up work. It is also exciting to now hold land adjoining the Casa Berardi break, which also contains important fertile structures that warrant further work."

The Amex land package now neighbours Agnico Eagle's Abitibi properties along the Casa Berardi break in Ontario. As can be seen in Figure 1, Agnico's project holds several gold showings along a NE-SW strike, of which any potential continuation of mineralization would be trending towards the new Amex claims. The Company looks forward to designing an initial exploration program on this underexplored package.

In addition to the continuation of the Normétal-Burntbush greenstone belt, the Company also acquired the Hepburn Project, and staked claims further to the west. The Hepburn Project contains mafic to intermediate metavolcanic rocks that hold numerous gold and copper showings which warrant further exploration work (See Figure 1).

Amex envisages that any future discoveries made on the new land package would have synergies with the proposed mine infrastructure on the Perron Project in Quebec (see updated PEA press release dated September 4, 2025 for more information).

Figure 1: Geological map of the Normétal-Burntbush greenstone belt adjoining the Casa Berardi deformation zone, showing the Perron and Perron West Projects as well as Amex's newly acquired and staked ground.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/276418_c998576cf43ee822_002full.jpg

Transaction Details

The Company, as purchaser, entered into the APA with an arm's length vendor to acquire the Abbotsford Project and the Hepburn Project (collectively, the "Properties"). Pursuant to the APA, the Company will:

(i) pay to the vendor aggregate cash consideration of $150,000;

(ii) issue to the vendor a total of 600,000 common shares (each, a "Share") in capital of the Company, subject to certain contractual resale restrictions providing for a staggered release of the Shares from escrow over a 36-month period;

(iii) grant to the vendor a 0.5% gross overriding royalty in respect of the Abbotsford Project and the Hepburn Project pursuant to the terms and conditions of a gross overriding royalty agreement to be entered into between the Company and the vendor on closing; and

(iv) make the following additional milestone payments to the vendor:

(a) a further $1,000,000, to be satisfied in cash, payable upon the Company disclosing a mineral resource and/or mineral reserve (of any category or any combination of categories) in respect of the Properties delineating at least one million ounces of gold and/or gold equivalent; and

(b) a further $500,000, to be satisfied in cash, payable upon the Company disclosing a preliminary economic assessment, pre-feasibility study or a feasibility study in respect of the Properties, as those terms are defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

The Properties are currently subject to an existing 1.5% net smelter returns royalty in favour of Gravel Ridge Resources Ltd. and 1544230 Ontario Inc., which will be assumed by Amex on closing. Accordingly, upon closing, the Properties will be subject, in aggregate, to a 1.5% NSR and an additional 0.5% gross overriding royalty.

The Transaction remains subject to a number of closing conditions and post-closing obligations, including, the execution of the Royalty Agreement and certain deeds and instruments of conveyance, the approval of the TSX Venture Exchange, and standard closing conditions for transactions of this nature.

Qualified Persons and QAQC

The technical information in this news release has been reviewed and approved by Aaron Stone, P. Geo. (OGQ 2170 and PGO 3708) for the properties in Ontario and Jérôme Augustin P.Geo. Ph.D., (OGQ 2134) for the Perron Project in Quebec (collectively, the "Qualified Persons").

The potential grades of exploration targets discussed in this news release are conceptual in nature. The Qualified Persons have not completed sufficient work to verify historical information on the Properties and it is uncertain if further exploration will result in any targets being delineated as a mineral resource. The Company has not independently verified and cannot guarantee the accuracy or completeness of any third-party data discussed in this news release and investors should use caution in placing reliance on such information. The information provides an indication of the exploration potential of the Properties but may not be representative of expected results.

About Amex

Amex Exploration Inc. has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS) zones, at its 100%-owned Perron Gold Project, located approximately 110 kilometres north of Rouyn-Noranda, Quebec. The Perron Project in Quebec consists of 183 contiguous claims for a surface area of 65.75 km². The project hosts both bulk-tonnage and high-grade gold mineralization styles.

When combined with the adjacent and contiguous Perron West Project in Ontario, which includes 35 claims (33 multi-cell and 2 single cell claims) for 134.55 km², the consolidated land package spans a district-scale 200.30 km². This extensive property lies within highly prospective geology favourable for both high-grade gold and VMS mineralization.

The Project benefits from excellent infrastructure: it is accessible by a year-round road, located just 30 minutes from an airport, and approximately 6.5 km from the Town of Normétal. It is also in close proximity to several process plants owned by major gold producers.

For further information please contact:

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, planned exploration programs, the expected positive exploration results, the extension of mineralized zones, the ability of the Company to continue with exploration programs, the availability of the required funds to continue with the exploration, the Company's plans for further drilling and exploration, the Company's ability to obtain all required approvals to complete the Transaction, and 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, the historical estimates may turn out to be inaccurate; additional drilling and exploration may lead to a determination that there is no potentially viable mine plan for the Property; general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals, 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/276418

Montréal, Québec--(Newsfile Corp. - December 4, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or the "Company") is pleased to announce that the company recently presented the Perron Project to two key partner communities: the Locality of Valcanton and the City of Normétal.

These meetings offered an important opportunity to review Amex's ongoing activities and outline the development plan for the Perron gold project in the historical Normétal Mining Camp. The company welcomed the opportunity to strengthen relationships with these local communities and respond directly to questions from community members and leaders.

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"Our commitment to open, honest, and ongoing dialogue with the local citizens is at the heart of how we operate," said Victor Cantore, President and CEO of Amex Exploration. "We value the trust Valcanton and Normétal place in us, and we will continue working closely with them as the Perron Project advances."

Valcanton locality President, Mrs. Guylaine Bouchard stated: "We are very pleased with the public meeting organized by Amex. I am confident that, together, through transparent discussions, we will develop the Perron project, which will generate significant benefits for Valcanton, in a responsible and respectful manner for the residents of our locality. We look forward to future collaborations with the AMEX team."

Normétal Mayor, Mrs. Sarah Boughanmi, stated: "The strong participation of Normétal residents in the public meetings confirms how engaged and attentive our community is to the projects that will shape Normétal's future. We welcome AMEX's presence and their openness to engaging directly with the community. We move forward with confidence: every development opportunity will be rigorously and transparently evaluated, with full respect for our community's priorities and values."

As Amex progresses through the development phase of the Perron Project, similar presentations and touchpoints will occur more frequently to ensure transparent communication.

To further enhance its outreach efforts, Amex has expanded its community relations team. In addition to its existing Community Relations Coordinator, the company recently hired a Community Relations Advisor to support ongoing engagement with local partners and residents.

Amex is also opening two community offices, one in Valcanton and one in Normétal, providing welcoming spaces where citizens can meet with company representatives, ask questions, and receive up-to-date information about the project. The two people responsible for community relations are Marilyn Gagnon (Community Relations Coordinator) and Roxane Paquin (Community Relations Advisor). They can be reached by email at This email address is being protected from spambots. You need JavaScript enabled to view it. or by phone at (819) 301-2990.

Finally, as part of its commitment to transparent communication, Amex is proud to announce the launch of its dedicated community website: www.projetperron.ca, where residents can access project details, news, and resources.

About Amex

Amex Exploration Inc. has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS) zones, at its 100%-owned Perron Gold Project, located approximately 110 kilometres north of Rouyn-Noranda, Quebec. The Perron Project in Quebec consists of 183 contiguous claims for a surface area of 65.75 km². The project hosts both bulk-tonnage and high-grade gold mineralization styles.

When combined with the adjacent and contiguous Perron West Project in Ontario, which includes 35 claims (33 multi-cell and 2 single cell claims) for 134.55 km², the consolidated land package spans a district-scale 200.30 km². This extensive property lies within highly prospective geology favourable for both high-grade gold and VMS mineralization.

The Project benefits from excellent infrastructure: it is accessible by a year-round road, located just 30 minutes from an airport, and approximately 6.5 km from the Town of Normétal. It is also in close proximity to several process plants owned by major gold producers.

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 statements of historical fact, contained in this news release including, but not limited to those describing the impact of the foregoing on the Perron Gold Project economics, PEA results (as such results are commented in the text of this news release), including CAPEX, OPEX, NPV and IRR, the estimated value of the Perron Gold Project, operations development scenarios for the Perron Gold Project, commercial and technical parameters, the attractive economics for the Perron Gold Project, LOM plans, the Company's intended marketing strategy, market trends, future gold prices, the impact of the Perron Gold Project on the local communities, including job creation, the projected annual production of the Company's operations, the timelines and costs related to the various initiatives, deliverables and milestones described in this news release and their expected results, the Company's expected financial and operational performance, the nature of relationships with stakeholders such as the local community including the Abitibiwinni First Nation, Mineral Resource estimates (including assumptions and estimates used in preparing the Mineral Resource estimates), the general business and operational outlook of the Company, the Company's future growth and business prospects, and those statements which are discussed under the "About Amex" paragraph and elsewhere in the news release which essentially describe the Company's outlook and objectives, constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws, and are based on expectations, estimates and projections as of the time of this news release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Moreover, these forward-looking statements were based upon various underlying factors and assumptions, including the business relationship between the Company and its stakeholders, the ability to operate in a safe and effective manner, the timely delivery and installation at estimated prices of the equipment supporting the production, assumed sale prices for gold, the accuracy of any Mineral Resource estimates, future currency exchange rates and interest rates, political and regulatory stability, prices of commodity and production costs, the receipt of governmental, regulatory and third party approvals, licenses and permits on favourable terms, sustained labour stability, stability in financial and capital markets, availability of equipment and critical supplies, spare parts and consumables, various tax assumptions, CAPEX and OPEX estimates, the Perron Gold Project permits' status, all economic and operational projections relating to the project, local infrastructures, the Company's business prospects and opportunities and estimates of the operational performance of the equipment, and are not guarantees of future performance.

Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, delays in the scheduled delivery times of equipment, the ability of the Company to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability of financing or financing on favorable terms for the Company, the dependence on commodity prices, the impact of inflation on costs, the risks of obtaining the necessary permits, the operating performance of the Company's assets and businesses, competitive factors in the gold mining and production industry, changes in laws and regulations affecting the Company's businesses, political and social acceptability risk, environmental regulation risk, currency and exchange rate risk, technological developments, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. A further description of risks and uncertainties can be found in the Company's annual Management's Discussion and Analysis, including in the section thereof captioned "Risk Factors", which is available on SEDAR+ at www.sedarplus.ca. Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.

Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276913

Montreal, Quebec--(Newsfile Corp. - December 16, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or "the Company") is pleased to announce the closing of its acquisition (the "Transaction") of a 100% undivided interest in the 324 non-contiguous mining claims comprising 8,392.92 hectares in the Abbotsford and Hepburn Townships in the province of Ontario. The Transaction was completed pursuant to the terms and conditions of the definitive asset purchase agreement entered into between the Company and an arm's length vendor, previously announced on December 1, 2025.

About Amex Exploration Inc.

Amex Exploration Inc. has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS) zones, at its 100%-owned Perron Gold Project, located approximately 110 kilometres north of Rouyn-Noranda, Quebec. The Perron Project in Quebec consists of 183 contiguous claims for a surface area of 65.75 km². The project hosts both bulk-tonnage and high-grade gold mineralization styles.

When combined with the adjacent and contiguous Perron West Project and Abbotsford and Hepburn Projects (including additional claims acquired through staking) in Ontario, the consolidated land package spans a district-scale 501.08 km². This extensive property lies within highly prospective geology favourable for both high-grade gold and VMS mineralization.

The Project benefits from excellent infrastructure: it is accessible by a year-round road, located just 30 minutes from an airport, and approximately 6.5 km from the Town of Normétal. It is also in close proximity to several process plants owned by major gold producers.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/278249

Key Highlights:

• Mineral Resource Estimate: All constrained Zones contain 1.615 Moz Measured & Indicated Resources at 6.14 g/t Au in 8.183 Mt and an Inferred Resource of 698 koz at 4.31 g/t Au in 5.044 Mt.
• Champagne Zone (formerly the High Grade Zone) contains resources of 831 koz of Measured and Indicated Mineral Resources at a grade of 16.20 g/t Au in 1.594 Mt and 128 koz of Inferred at a grade of 9.83 g/t Au in 406 kt.
• 172% increase in Measured & Indicated Resources over the 2024 Mineral Resource Estimate, with a 43% increase in grade realized.
• Estimates based on high-grade, selective narrow vein mining operation approach.
• Additional Mineral Resource potential: to expand the deposits in all directions for future Mineral Resource estimation. With a land package increase from 45.6 to 197.5 square kilometers ("km²") providing additional new targets to be explored. See press release dated March 25, 2025.
• Infrastructure: The excellent nearby infrastructure continues to play a vital role at the Perron Project. The Company plans to complete an updated Preliminary Economic Assessment (PEA) utilizing the 2025 Mineral Resource Estimate, expected later this year.

Victor Cantore, President and CEO, Director of Amex Exploration commented, "We are thrilled to announce an updated Mineral Resource Estimate which shows an increase in contained ounces as well as grade. The high-grade, continuous nature of the Champagne Zone in particular, puts Amex in a unique position with exceptional flexibility for the development of the Project, which will be analyzed in detail for an updated PEA. This Mineral Resource Estimate demonstrates the team's ability to identify and grow the Perron Project into a world class gold asset."

Cantore continued, "Given the quality of the project, we are pursuing a dual pathway of development and continued exploration at Perron. In today's gold price environment, these ounces are extremely lucrative, however, are also highly resilient to fluctuations in gold prices and I expect our upcoming PEA to reflect very positive economics. I look forward to updating all stakeholders in the coming weeks."

Jacques Trottier, PhD, Executive Chairman of Amex Exploration added, "I believe the 2025 Mineral Resource Estimate clearly illustrates that the Perron Project is a tier one asset, when one takes into consideration the grade and continuity of gold mineralization along with the location and supporting infrastructure. We have yet to fully explore the Perron Project and with the addition of the Perron West, we have a district scale property for exploration and blue-sky upside. I would like to thank everyone involved in updating this Mineral Resource Estimate."

Montreal, Quebec--(Newsfile Corp. - May 21, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or the "Company") is pleased to announce that it has completed an updated Mineral Resource Estimate ("MRE") prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") on the company's flagship Perron Project in the northwestern Abitibi region of Quebec. The Company engaged P&E Mining Consultants Inc. ("P&E"), established in 2004 and having produced more than over 450 NI 43-101 Technical Reports, to construct a 2025 MRE using 46,355 m of new drilling data as well as 562,137 m of previous drill data and a renewed focus on grade with tighter wireframe modelling (see below for further details). Consistent with the 2024 Mineral Resource Estimate, the majority of gold ounces come from the Company's newly renamed Champagne Zone ("Champagne Zone") (previously named the High Grade Zone), with important contributions from the Denise ("Denise"), Gratien ("Gratien"), Grey Cat ("Grey Cat") and Team Zones ("Team"). Geologic reinterpretation of some zones has allowed for more realistic high-grade, narrow vein potentially mineable stope shapes that are expected to have a positive impact on an updated PEA to be released later this year. All zones on the Property remain open for further expansion. With the Company's recent land acquisition (see Press Release dated March 25, 2025), Amex is positioned to make further discoveries and transform Perron to a potential district sized mining camp.

Amex will be hosting a webinar Thursday, May 22, 2025 with Victor Cantore, CEO and Aaron Stone, VP Exploration at 10:00 am EDT to discuss the updated MRE in more detail. Please register here:

https://us02web.zoom.us/webinar/register/WN_wqObmM3NRCqvKxZKSBO_Ag

2025 MRE Highlights:

• Open pit and underground stope constrained Mineral Resources of 1.615 Moz Measured and Indicated at 6.14 g/t in 8.183 Mt Au and 698 koz Inferred at 4.31 g/t Au in 5.044 Mt.
  • Underground stope constrained Mineral Resources of 1.357 Moz of Measured and Indicated at a grade of 7.52 g/t Au in 5.614 Mt and 631 koz of Inferred at a grade of 4.90 g/t Au in 4.000 Mt.
  • Open pit constrained Mineral Resource s of 258 koz of Measured and Indicated at a grade of 3.12 g/t Au in 2.569 Mt and 68 koz of Inferred at 2.02 g/t Au in 1.044 Mt.
• Excellent continuity throughout the Project with exceptional high grade throughout, specifically in the Champagne Zone which alone hosts 831 koz Measured and Indicated Mineral Resources at 16.20 g/t Au in 1.594 Mt and 128 koz Inferred at 9.83 g/t Au in 406 kt.
  • Grade increases with added confidence in the Champagne Zone, as drill spacing is tightened to upgrade Mineral Resources from Inferred to Measured and Indicated which speaks to the exceptional continuity of the Champagne Zone. See Table 2
• The 2025 MRE better reflects the high-grade nature of mineralization at Perron. By constraining the sample grade assays to selective narrow veins and structures, improved confident and higher-grade ounces have been realized in multiple zones, significantly reducing MRE modelling dilution.
• All zones remain open at Perron, providing excellent future Mineral Resource expansion potential.
• Metallurgical test work by SGS Canada achieved an overall gold recovery of up to 99% in the Champagne Zone and better than 95% in the Denise, Team, Gratien and Grey Cat Zones.
• The excellent nearby infrastructure including housing, roads, electricity and labour continues to play a vital role at the Perron Project. The Company plans to complete an updated Preliminary Economic Assessment (PEA) utilizing the 2025 MRE, expected later this year.
• The Perron Project also hosts VMS (copper-zinc) mineralization that has not been included in the updated MRE nor has any of the silver credits that exist in some zones of the Property. These remain an added upside value at the Project that the Company can decide to include and expand on at any time.

See Figure 1 for the location of the Perron Project, Figure 2 for a plan view of modelled wireframes in the 2025 Mineral Resources on the Property, Figure 3 for a longitudinal projection view of 2025 Mineral Resources constrained within open pits and underground stopes, and Table 1 for a summary of total Mineral Resources, Table 2 for summary of total Mineral Resources by zone and Table 3 for parameters used to constrain the 2025 Mineral Resources at Perron.

Further Details of 2025 MRE

Perron's 2025 Mineral Resource increase in overall grade, tonnage and therefore ounces has been realized due to multiple factors including:

• Data Analysis
  • An additional 46,355 m of drilling containing 30,114 assay results since the completion of the 2024 MRE were included, providing further levels of geologic detail on the Property.
  • Revision of the capping threshold for certain zones where statistically viable and coefficient of variation confirms.
• Geologic Interpretation
  • Revised modelling interpretations resulting in a high-grade, narrow vein/structure approach versus large, massive mineralized zones formerly for Denise and Team Zones. This method takes away tonnage in certain areas of the project (see Figure 4 for an example in the Champagne Zone), however, focuses on quality grade and is therefore expected to have a positive impact on an updated PEA. Amex and P&E consider that this is a more accurate representation of the mineralization at Perron, where the majority of a future mining operation would be focused on high-grade, narrow vein material.
  • Mineralized wireframes have been refined and filled in along strike and extended down dip, thus explaining the increase in overall tonnage.
• Geologic Modelling
  • Reinterpretation has resulted in improved continuity restricting data and modelling to narrow veins and structures.
  • Optimization of search ellipses in accordance to vein and structure orientations has resulted in more realistic grade propagation within block models which has had an overall positive impact on grade and ounces (see Figure 5).

The 2025 MRE has also realized a significant increase in the amount of Measured and Indicated ("M&I") Mineral Resource ounces on the Project, due to factors including:

• Additional Data
  • A further 46,355 m of drilling across multiple zones containing 30,114 samples has provided significantly more geological information therefore improving the confidence and quality of the MRE.
• Geological Interpretation
  • The additional data and improved geologic understanding of the zones has allowed for improved continuity within veins and their structures therefore increasing the confidence and quality of grade estimates.
• Geological Modelling
  • Using variable orientation to guide search ellipses has resulted in more potentially mineable stope shapes.
  • Systematic review of classification resulted in manually smoothing classification solids after performing algorithmic classification (see Figure 6).

Aaron Stone, P.Geo, Vice President Exploration of Amex Exploration continued, "This updated Mineral Resource proves that as we improve our geological understanding of the mineralization at Perron and the structures in which they are hosted, we can continue to unlock significant value in the Project. A renewed focus on grade has removed unnecessary modelling dilution in many areas of the Project, which in turn has increased the grades of many zones, highlighted by the exceptional Champagne Zone. With the additional data received since the 2024 Mineral Resource and an increased level of geological confidence, the mineralized wireframes in many areas have been better filled and expanded, resulting in overall increases in total tonnage and ounces. With the recent addition of the Perron West Project to our portfolio, I am excited by the prospect of making further discoveries along the Normétal-Burntbush Greenstone Belt, which remains highly unexplored in comparison to other greenstone belts in the Abitibi region."

Figure 1: Location of the Perron Project, central Abitibi, 4km to the east of the Quebec-Ontario border. Perron is marked by a gold circle and is adjacent to the historical producing Normétal VMS mine.

Figure 2: Plan view of the mineralized wireframes for each zone of the 2025 Mineral Resource at Perron.

Figure 3: Longitudinal projection view looking to the north of the 2025 constrained Mineral Resources delineated at Perron. Open pits are shown in blue and underground stopes are displayed in red.

Table 1: Summary of total Mineral Resources at the Perron Project

Note: A vast increase in the amount of M&I Mineral Resources has been realized in the updated MRE due to multiple factors including manually smoothing classification solids after algorithmic classification and increased geological understanding and continuity.

Table 2: Summary of Mineral Resources at the Perron Project by zone

*Mineralized wireframes and optimized stopes were created at a cut-off grade of 1.4 g/t Au.

Cautionary statement: These Mineral Resources are not Mineral Reserves as they have not demonstrated economic viability. An Inferred Mineral Resource has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. Totals may not sum due to rounding of numbers.

Figure 4: Example from the Champagne Zone displaying the renewed focus on grade, removing internal modelling dilution with the vision of a rich, narrow vein mining operation.

Figure 5: Another example of the renewed focus on grade vs volume. Additionally, two important changes for the Denise Zone were 1) increased tonnage of high-grade blocks by using variable orientation instead of search ellipses against the grain of domain and 2) based on geological understanding, wireframes we made sub-vertical which will allow for more cost-effective long hole stoping.

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Figure 6: Image to display the classification process for the Champagne Zone. Industry standard for Mineral Resource classification that was developed by Newmont for use in Leapfrog Edge.

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Mineral Resource Estimation Methodology and Parameters

As part of the Mineral Resource estimation process, the Company and P&E compiled, verified and modelled all technical information available from the Project.

Parameters used in the definition of cut-off grades, modifying factors to enable reasonable prospect of eventual economic extraction, pit constrained and underground potentially mineable stope shapes as per CIM 2019 Best Practices Guidelines.

Table 3: Parameters used for constraining Mineral Resources at Perron

Perron Gold project Mineral Estimate notes:

• The Mineral Resource Estimate is compliant with CIM 2019 Best Practices Guidelines for reporting Mineral Resources and Reserves.
• Mineral Resources are presented undiluted and in situ and are considered to have reasonable prospects for eventual economic extraction. The Mineral Resources near surface are constrained by pit optimization surfaces and the underground Mineral Resources are constrained by potentially mineable stope shapes.
• The database is comprised of a total of 1,807 drill holes for 608492.30 metres of drilling (which includes historical drilling completed by previous operators, abandoned and exploration holes) in the extent of the Mineral Resource, of which (359 087.40 metres) 305,523 samples were assayed as of March 31, 2025, grid spacing is variable.
• All NQ core assays reported by Amex were obtained by analytical methods described below under "QA/QC".
• Geological interpretation of the zones was based on lithologies, mineralized zones orientation and cut-off grade considerations. Each zone has its own characteristic of mineral occurrence and amount of recoverable gold.
• Geological wireframe interpretation was initially made from cross-sections at intervals in GEMS^TM, and then completed in Leapfrog^TM where selections of mineralized intervals were combined to generate mineralized wireframes. Wireframes are generally subvertical with various plunges.
• The Mineral Resource Estimate encompasses a total of 115 wireframes, sub-vertical gold-bearing domains each defined by individual wireframes with a minimum downhole width of 2.0 m.
• Assay Samples were composited within the mineralization envelopes into 1.0 m length composites. A value of 0.001 g/t Au was applied in cases of drill core not assayed.
• High grade capping was done on composite data and established using a statistical analysis on a per-zone basis for gold. Capping varied from 5 g/t Au to 500 g/t Au and was applied on composites within each specific wireframe.
• Bulk density values were applied on the different mineralized zones varied from 2.7 to 2.8 t/m³ based on site drill core measurements.
• Inverse distance cubed grade interpolation was used.
• Grade estimates are based on a parent block dimension of 5m x 5m x 5m with sub-cells down to 1 x 1 m x 1 m. Search parameters were determined by variography.
• The Perron Mineral Resource Estimate is classified as Measured, Indicated and Inferred as follows:
  • The Measured Mineral Resource classification is defined by areas where drill hole sample spacing is less than 10 m, blocks are informed by a minimum of three drill holes, and reasonable geological and grade continuity is shown.
  • The Indicated Mineral Resource classification is defined by areas where drill spacing is less than 30 m (except Champagne Zone at 40 m), blocks are informed by a minimum of two drill holes, and reasonable geological and grade continuity is shown.
  • The Inferred Mineral Resource classification is defined by the limits of the constraining wireframes, blocks are informed by a minimum of one drill hole, and reasonable, however, not verified, geological and grade continuity is observed.
• Grade estimates use metric units (metres, tonnes and g/t). Metal contents are presented in troy ounces (metric tonnes x grade / 31.10348).
• The QPs are not aware of any known environmental, permitting, legal, title-related, taxation, socio-political or marketing issues, or any other relevant issues that could materially affect the Mineral Resource Estimate.

Further details regarding the 2025 updated Mineral Resource Estimate, key assumptions, parameters and methods used to estimate the Mineral Resources of the Perron Gold Project will be available on SEDAR+ (www.sedarplus.ca) under the Corporation's issuer profile within 45 days of this news release in accordance with NI 43-101. This updated Mineral Resource Estimate will be the basis for an updated PEA.

Independent Qualified Persons

The Mineral Resource Estimate was prepared for Amex Exploration Inc. under the supervision of P&E Mining Consultants Inc. ("P&E"). The Qualified Persons ("QP's") have reviewed and approved the content of this news release. Independent QP's from P&E who have prepared and supervised the preparation of the technical information relating to this Mineral Resource Estimate are:

• Antoine Yassa, P.Geo.
• Charles Spath, M.Sc., P.Geo.
• Yungang Wu, M.Sc., P.Geo.
• Eugene Puritch, P.Eng., FEC, CET

Perron Project 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. Drill core logging and sampling were completed by Laurentia Exploration. The quality assurance and quality control protocols include insertion of blank or certified reference materials every 10 samples on average, in addition to the regular insertion of internal blank, duplicate, and certified reference materials provided 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 greater than 3 ppm Au are reanalyzed by fire assay with gravimetric finish 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.

Furthermore, gold mineralization associated with base metals were sent to ALS Canada Ltd., Rouyn-Noranda with the same quality assurance and quality control protocol to LabExpert. Gold values are estimated by fire assay with finish by atomic absorption. Zinc, copper and silver values are estimated by four acid digestion multi elements Inductively Coupled Plasma - Atomic Emission Spectroscopy (ICP-AES), ME-ICP61. Zinc values over 1%, copper values over 1% and silver values over 100 g/t are estimated by four acid digestion ICP-AES, OG62.

About P&E Mining Consultants Inc.

P&E Mining Consultants Inc., established in 2004, provides geological and mine engineering consulting reports, Mineral Resource Estimate technical reports, Preliminary Economic Assessments and Pre-Feasibility Studies. In addition, we are affiliated with major consulting firms for the purposes of joint venturing on Feasibility Studies. Our experience covers over 450 technical reports on diamonds, most metallic deposits including gold, silver, base metals, PGM and iron for both open pit and underground deposits. Software packages utilized include Gemcom, Leapfrog, Whittle, NPV Scheduler, Vulcan, Ventsim, AutoCad and Deswik. P&E's 22 associates have experience in geological interpretation, 3D geologic modeling, technical report writing, Mineral Resource and Mineral Reserve Estimates, property evaluations, mine design, production scheduling, operating and capital cost estimates and metallurgical engineering.

About Amex

Amex Exploration Inc. has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS) zones, at its 100%-owned Perron Gold Project, located approximately 110 kilometres north of Rouyn-Noranda, Quebec. The Project comprises 117 contiguous claims (45.18 km²) and hosts both bulk-tonnage and high-grade gold mineralization styles.

When combined with the adjacent Perron West Project, which includes 48 claims (17.37 km²) in Quebec and 35 claims (134.55 km²) in Ontario, the consolidated land package spans a district-scale 197.52 km². This extensive property lies within highly prospective geology favourable for both high-grade gold and VMS mineralization.

The Project benefits from excellent infrastructure: it is accessible by a year-round road, located just 20 minutes from an airport, and approximately 8 km from the Town of Normétal. It is also in close proximity to several process plants owned by major gold producers.

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 CZ 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/252854

Montreal, Quebec--(Newsfile Corp. - July 3, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or the "Company") is pleased to announce that at the annual general and special meeting of the Company's shareholders held on June 30, 2025 (the "Meeting") shareholders voted in favour of, and approved, all items of business.

The Company's shareholders elected all director nominees, including incumbent directors Victor Cantore, Pierre Carrier, André Shareck, Yvon Gélinas, and Luisa Moreno and new directors Phillip S. Brumit Sr. and Peter Damouni. Jacques Trottier, a director of the Company since 2002 and its longstanding Executive Chairman, retired from the Company and did not stand for re-election at the Meeting.

Victor Cantore, President and CEO of Amex, said, "I along with the entire management team and board of directors, would like to thank Jacques for his leadership and invaluable contributions to the Company over the years. I have thoroughly enjoyed collaborating with Jacques during my tenure at Amex and I wish him well in his retirement."

Shareholders also re-appointed Raymond Chabot Grant Thornton LLP, Chartered Professional Accountants, as auditor of the Company and adopted an ordinary resolution to ratify and confirm the Company's new omnibus equity incentive plan (the "Omnibus Plan") to replace its current incentive stock option plan (the "Option Plan").

The Omnibus Plan is a "rolling up to 10%" Security Based Compensation Plan, as defined in Policy 4.4 - Security Based Compensation of the TSX Venture Exchange (the "TSXV"), pursuant to which the number of common shares in the capital of the Company (the "Shares") that are issuable upon the exercise of equity awards granted under the Omnibus Plan (collectively, the "Awards") shall not exceed 10% of the issued and outstanding shares of the Company as at the date of any Award grant, subject to adjustment as provided in the Omnibus Plan.

The Omnibus Plan was conditionally approved by the TSXV on May 6, 2025. It remains subject to the final acceptance of the TSXV and must be re-approved by shareholders on an annual basis at the Company's annual meeting of shareholders in accordance with the policies of the TSXV. It replaces the Company's previous Option Plan, originally adopted on May 4, 2022, as approved by shareholders on an annual basis and amended from time to time.

The Company's Compensation Committee determined that it would be desirable to have a wider range of incentive awards, including stock options, restricted share units, performance share units, deferred share units, and other share-based Awards to attract, retain and motivate employees, directors, executive officers and consultants of the Company. Subject to compliance with the policies of the TSXV, all outstanding incentive stock options granted under the Option Plan shall continue to be outstanding and remain in force in accordance with their existing terms.

The terms and conditions of grants of Awards, including the quantity, type of award, grant date, vesting conditions, vesting periods, settlement date, the impact of certain events upon the rights of holders of these types of Awards (including termination for cause, resignation, retirement, termination other than for cause and death or long-term disability), and other terms and conditions with respect to these Awards, will be set out in a participant's Award agreement.

For more information, please see the management information circular in respect of the Meeting dated May 12, 2025, which includes a summary of the Omnibus Plan and a copy thereof as Schedule E, available via the Company's profile on SEDAR+ at www.sedarplus.ca.

Perron West Project

Further to the Company's news releases dated March 25, 2025 and April 10, 2025 in respect of the acquisition of the Perron West Project (the "Transaction"), the Company wishes to correct the disclosure and clarify that there is no option under the asset purchase agreement in respect of the Transaction to pay the Milestone Payments (as defined in the news releases) in common shares in the capital Company.

About Amex Exploration Inc.

Amex Exploration Inc. has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS) zones, at its 100%-owned Perron Gold Project, located approximately 110 km north of Rouyn-Noranda, Quebec. The Project comprises 117 contiguous claims (45.18 km²) and hosts both bulk-tonnage and high-grade gold mineralization styles.

When combined with the adjacent Perron West Project, which includes 48 claims (17.37 km²) in Quebec and 35 claims (134.55 km²) in Ontario, the consolidated land package spans a district-scale 197.52 km². This extensive property lies within highly prospective geology favourable for both high-grade gold and VMS mineralization.

The Project benefits from excellent infrastructure: it is accessible by a year-round road, located just 20 minutes from an airport, and approximately 8 km from the Town of Normétal. It is also in close proximity to several process plants owned by major gold producers.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/257655

Montreal, Quebec--(Newsfile Corp. - July 7, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or "the Company") is pleased to announce that it has filed a National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") Updated Mineral Resource Estimate ("MRE") Technical Report for AMEX's 100% owned Perron Gold Project in Quebec, Canada, with an effective date of May 21, 2025 (the "Report"). Report results were previously announced in AMEX's news release dated May 21, 2025.

P&E Mining Consultants Inc. are responsible for the overall Report which was prepared in collaboration with Laurentia Exploration Inc. The Qualified Persons ("QPs"), as defined under NI 43-101, are Antoine Yassa, P.Geo., Charles Spath, M.Sc., P.Geo., Yungang Wu, M.Sc., P.Geo., Eugene Puritch, P.Eng., FEC, CET, and Jérôme Augustin P.Geo. Ph.D.

The Report is available on Company's website (www.amexexploration.com) and on SEDAR+ (www.sedarplus.ca).

Key Highlights of the Updated MRE were:

• Mineral Resource Estimate: All constrained Zones contain 1.615 Moz Measured & Indicated Resources at 6.14 g/t Au in 8.183 Mt and an Inferred Resource of 698 koz at 4.31 g/t Au in 5.044 Mt
• Champagne Zone (formerly the High Grade Zone) contains resources of 831 koz of Measured and Indicated Mineral Resources at a grade of 16.20 g/t Au in 1.594 Mt and 128 koz of Inferred at a grade of 9.83 g/t Au in 406 kt.
• 172% increase in Measured & Indicated Resources over the 2024 Mineral Resource Estimate, with a 43% increase in grade realized.
• Estimates based on high-grade, selective narrow vein mining operation approach
• Additional Mineral Resource potential: to expand the deposits in all directions for future Mineral Resource estimation. With a land package increase from 45.6 to 197.5 square kilometers ("km²") providing additional new targets to be explored. See press release dated March 25, 2025.

Table 1: Summary of total Mineral Resources at the Perron Project

Note: A vast increase in the amount of M&I Mineral Resources has been realized in the updated MRE due to multiple factors including manually smoothing classification solids after algorithmic classification and increased geological understanding and continuity.

About Amex

Amex Exploration Inc. has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS) zones, at its 100%-owned Perron Gold Project, located approximately 110 kilometres north of Rouyn-Noranda, Quebec. The project comprises 117 contiguous claims (45.18 km²) and hosts both bulk-tonnage and high-grade gold mineralization styles.

When combined with the adjacent Perron West Project—which includes 48 claims (17.37 km²) in Quebec and 35 claims (134.55 km²) in Ontario—the consolidated land package spans a district-scale 197.52 km². This extensive property lies within highly prospective geology favourable for both high-grade gold and VMS mineralization.

The project benefits from excellent infrastructure: it is accessible by a year-round road, located just 20 minutes from an airport, and approximately 8 km from the Town of Normétal. It is also in close proximity to several milling operations owned by major gold producers.

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, planned exploration programs, the expected positive exploration results, the extension of mineralized zones, the timing of the exploration results, the ability of the Company to continue with exploration programs, 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/257917

Montreal, Quebec--(Newsfile Corp. - July 9, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or the "Company") announces the appointment of Phil Brumit and Peter Damouni to its Board of Directors, following the Company's Annual General and Special Meeting held on June 30, 2025. These additions reflect a strategic shift toward advancing the Perron Gold Project into production while continuing active exploration for new gold discoveries. In addition, Mr. Brumit will lead the newly formed Project Development Technical Team working alongside Jonathan Gagné, Project Development and Aaron Stone, Exploration.

Mr. Brumit brings over 45 years of experience in engineering, development, project management, operations start-up and mining operations across leading companies in the natural resources sector. Currently, he is a non-executive director for Luca Mining and Empire Metals. He has held senior leadership roles at Lundin Mining, Freeport-McMoRan, and Newmont Corporation, where he drove operational success and delivered major projects globally. His career includes positions such as Executive VP Projects & Operations at Josemaria Resources, President and Managing Director of Minera Candelaria (Lundin Mining) in Chile, and President of Freeport-McMoRan's African Division focused on the Tenke-Fungurume copper-cobalt mine.

Mr. Damouni has over 20 years of experience in corporate and investment banking. He serves as an officer and director of public companies listed on the Toronto Stock Exchange, TSX Venture Exchange and London Stock Exchange. Mr. Damouni has successfully led strategic financings and developed and executed corporate strategies that have driven significant re-ratings of public companies. He has also played a key role in mergers and acquisitions that have created substantial value for shareholders.

Victor Cantore, President and CEO of Amex commented, "The Perron project offers tremendous exploration upside, and we will continue to explore for new gold discoveries on our combined properties. With a sizeable gold resource at Perron and a strong PEA supporting its economic development, we are also transitioning into a new phase of growth. Phil Brumit's mine-building expertise and Peter Damouni's capital markets acumen will be critical as we drive the project forward. With decades of experience working for best practice mining companies, Phil brings discipline and rigour to our board and technical team. As we advance the Perron project I look forward to his invaluable contributions. I have also collaborated on other transactions with Peter and we have developed an excellent working relationship."

Phil Brumit, Director of Amex said, "After reviewing the Perron project, the decision to join this board and technical team was an obvious one for me. Throughout my career, I have evaluated a number of projects and Perron stands out as a tier one asset. This project ticks a number of boxes, including high grade, access to major infrastructure (power, roads, skilled labour, housing) and a safe jurisdiction. I am delighted to join the team and look forward to contributing to the Company's continued success."

About Amex Exploration Inc.

Amex Exploration Inc. has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS) zones, at its 100%-owned Perron Gold Project, located approximately 110 km north of Rouyn-Noranda, Quebec. The Project comprises 117 contiguous claims (45.18 km²) and hosts both bulk-tonnage and high-grade gold mineralization styles.

When combined with the adjacent Perron West Project, which includes 48 claims (17.37 km²) in Quebec and 35 claims (134.55 km²) in Ontario, the consolidated land package spans a district-scale 197.52 km². This extensive property lies within highly prospective geology favourable for both high-grade gold and VMS mineralization.

The Project benefits from excellent infrastructure: it is accessible by a year-round road, located just 20 minutes from an airport, and approximately 8 km from the Town of Normétal. It is also in close proximity to several process plants owned by major gold producers.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/258241

Montreal, Quebec--(Newsfile Corp. - July 17, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or the "Company") is pleased to announce a non-brokered private placement of 11,000,000 charity flow-through common shares (the "CFT Shares") at a price of C$2.27 per CFT Share, for gross proceeds of up to C$24,970,000 (the "Offering").

The Company may also issue up to an additional 3,125,000 hard dollar common shares (the "HD Shares") at a price of C$1.60 per HD Share, for gross proceeds of up to C$5,000,000.

As part of the Offering, Eldorado Gold Corporation ("Eldorado") intends to make a strategic investment in the Company through the purchase of 11,000,000 common shares of the Company at a price of C$1.60 per common share, for gross proceeds of C$17,600,000. Upon closing of the Offering, Eldorado will own approximately [17]% of Amex's issued and outstanding shares (on an undiluted basis).

Victor Cantore, President and CEO of Amex, states, "Eldorado's strategic investment significantly strengthens our exploration budget and reaffirms the high-quality potential of the Perron project and the recently acquired Perron West project. With a strong resource estimate already defined, we see substantial untapped upside across the broader property. This funding will enable us to aggressively pursue new targets and further demonstrate the scale and opportunity in the broader district scale camp."

The Company intends to use the net proceeds of the Offering to fund exploration across the Perron Gold Project with a focus on new target definition and drilling.

Each CFT Share will qualify as a "flow-through share" within the meaning of subsection 66(15) of the Income Tax Act (Canada). The gross proceeds from the Offering will be used by the Company to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) (the "Qualifying Expenditures") related to the Company's Perron Gold Project, on or before December 31, 2026. All Qualifying Expenditures will be renounced in favour of the subscriber for the CFT Shares with an effective date on or before December 31, 2025, in accordance with the requirements of the Income Tax Act (Canada).

The closing of the Offering is expected to occur on or before August 7, 2025, and is subject to the satisfaction of certain conditions, including receipt of acceptance of the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a hold period of four months and one day from the date of closing, in accordance with applicable Canadian securities laws.

Mills Dunlop Capital Partners Ltd. is acting as financial advisor to the Company in connection with the strategic investment.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities issued under the Offering in the United States. The securities issued under the Offering have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Amex Exploration Inc.

Amex Exploration Inc. has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS) zones, at its 100%-owned Perron Gold Project, located approximately 110 km north of Rouyn-Noranda, Quebec. The Project comprises 117 contiguous claims (45.18 km²) and hosts both bulk-tonnage and high-grade gold mineralization styles.

When combined with the adjacent Perron West Project, which includes 48 claims (17.37 km²) in Quebec and 35 claims (134.55 km²) in Ontario, the consolidated land package spans a district-scale 197.52 km². This extensive property lies within highly prospective geology favourable for both high-grade gold and VMS mineralization.

The Project benefits from excellent infrastructure: it is accessible by a year-round road, located just 20 minutes from an airport, and approximately 8 km from the Town of Normétal. It is also in close proximity to several process plants owned by major gold producers.

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, planned exploration programs, the expected positive exploration results, the extension of mineralized zones, the timing of the exploration results, the ability of the Company to continue with exploration programs, 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.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE 
UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/259123

Montreal, Quebec--(Newsfile Corp. - April 16, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or "the Company") is pleased to announce that the company has mandated Norda Stelo to begin the environmental baseline studies on the Perron project.

The baseline study aims to assess the environmental conditions of the impacted area prior to the construction of a proposed project and will document the existing environmental conditions of the area including air, water, soil and biotic resources. This information will allow for future planning and development of the Perron Project while minimizing impacts and will support the submission of an environmental and social impact study. The 2025 work plan will also aim to obtain various information related to surface and groundwater, as well as the characterization of aquatic, humid and natural environments.

Victor Cantore, President and CEO of Amex Exploration commented, "This is a significant step in advancing the Perron project on the pathway to production. We are pleased to have commissioned a firm like Norda Stelo and are excited to begin the work. Following the preparation of our PEA study, starting the environmental baseline is the logical next step in the development of the Perron Project."

Cantore continued, "We remain committed to finding additional gold ounces through our on-going fully funded exploration program which provides our shareholders with blue sky. Amex is clearly pursuing a dual path of development and exploration."

Norda Stelo has built a solid reputation as a leader in the mining industry, both in Canada and abroad. They specialize in the development of mining projects in Quebec, such as basic environmental studies, environmental and social impact studies, technical studies, restoration plans and environmental permits. They have been involved in over 120 projects related to the environmental and social management of various infrastructure projects. Norda Stelo has successfully contributed to the development and environmental optimization of numerous operating mines in Quebec.

About Amex

Amex Exploration Inc. has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS) zones, at its 100%-owned Perron Gold Project, located approximately 110 kilometres north of Rouyn-Noranda, Quebec. The project comprises 117 contiguous claims (45.18 km²) and hosts both bulk-tonnage and high-grade gold mineralization styles.

When combined with the adjacent Perron West Project-which includes 48 claims (17.37 km²) in Quebec and 35 claims (134.55 km²) in Ontario-the consolidated land package spans a district-scale 197.52 km². This extensive property lies within highly prospective geology favourable for both high-grade gold and VMS mineralization.

The project benefits from excellent infrastructure: it is accessible by a year-round road, located just 20 minutes from an airport, and approximately 8 km from the town of Normétal. It is also in close proximity to several milling operations owned by major gold producers.

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, planned exploration programs, the expected positive exploration results, the extension of mineralized zones, the timing of the exploration results, the ability of the Company to continue with exploration programs, 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/248710

Montreal, Quebec--(Newsfile Corp. - January 9, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or "the Company") is pleased to announce that recent drilling has continued to expand the footprint of multiple zones at its flagship Perron Project, located in northwestern Abitibi, Quebec. As seen in today's results, the Company continues to find high-grade gold across multiple gold zones, successfully expanding them either along strike or at depth (see Figures 1-8). For a full list of today's drill results and collar locations, please see Tables 1-4 below.

Since obtaining the economic stopes and open pits from the mine plan detailed in the Perron Preliminary Economic Assessment (PEA) (see November 13, 2024 press release), drill hole planning has been further optimized by adding the criteria of adding economically viable ounces to existing zones.

Drill Highlights Include:

Denise Zone:

• 35.82 g/t Au over 1.20 m, including 60.82 g/t Au over 0.70 m at a vertical depth of ~280 m - hole PE-24-818

Upper High Grade Zone:

• 69.03 g/t Au over 0.50 m at a vertical depth of ~730 m - hole PE-21-386W2

E2 Zone:

• 5.75 g/t Au over 2.40 m, including 22.63 g/t Au over 0.50 m at a vertical depth of ~105 m - hole PE-24-819

• 6.02 g/t Au over 3.00 m, including 10.83 g/t Au over 1.50 m at a vertical depth of ~45 m - hole PE-24-817

Grey Cat Zone:

• 49.75 g/t Au over 0.60 m at a vertical depth of ~50 m - hole PEG-24-834

Gratien Zone:

• 5.71 g/t Au over 3.80 m, including 18.15 g/t Au over 0.50 m at a vertical depth of ~230 m - hole PEG-24-826

• 7.44 g/t Au over 2.00 m, including 12.21 g/t Au over 1.00 m at a vertical depth of ~195 m - hole PEG-24-828

JT Zone

• 0.61 g/t Au over 162.00 m, including 1.74 g/t Au over 21.00 m at a vertical depth of ~500 m - hole PEX-24-266

• 0.72 g/t Au over 123.00 m, including 27.12 g/t Au over 1.50 m at a vertical depth of ~20 m - hole PEX-24-265

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "Since receiving the block model from the Mineral Resource Estimate (MRE) and subsequently the mine plan from the PEA, our geological team has been able to significantly refine the drill planning process with the goal of increasing economic ounces on the project within the known gold zones. Today's results, as illustrated in Figures 8 and 9, indicate a strong potential for these intercepts to contribute additional ounces to the mine plan."

Jonathan Gagné, Vice President of Project Development added, "In the recently released PEA, a minimum diluted mining width of 3.7 m was applied along with a cut-off grade of 1.50 g/t representing a metal factor of 5.55 (g/t Au * m). With the exception of the JT Zone where a bulk mining scenario could be envisioned, these high-grade intercepts, have all shown metal factors significantly above this PEA threshold."

Aaron Stone, P.Geo, Vice President Exploration of Amex Exploration added, "The discovery of visible gold in regional drill hole PEX-24-197 is especially exciting. This is the first time we have found visible gold mineralization outside of the Beaupré Block to the west in the basalts. This further demonstrates that gold mineralization at Perron extends beyond the Beaupré Block, highlighting the entire Perron property as having fertile targets for hosting gold mineralization. We look forward to following up on this new regional discovery with our 2025 drill program."

Figure 1: Geological map of the Perron Project, showing each of the significant mineralized zones identified to date, with the areas of today's drill results outlined.

Figure 2: Geological map of the JT Zone, highlighting today's released holes.

Figure 3: Geological map of the Eastern Gold Zone (which includes the High Grade, Denise, E2, and Team Zones), highlighting today's released holes.

Figure 4: Geological map of the Gratien, Grey Cat, Alizée and Central Polymetallic Zones, highlighting today's released holes.

Figure 5: Geological map of Western Perron exploration, highlighting today's released hole. Gold result is hosted in the Beaupré basalt.

Figure 6: Longitudinal section of the JT Zone, highlighting today's released holes. PEX-24-265 and PEX-24-266 are the highest metal factor holes drilled in the zone to date.

Figure 7: Photos of visible gold (VG) from various drill holes in today's press release. High-grade mineralization is represented by a quartz-carbonate-sulfide veins with visible gold.

Figure 8: Photos of visible gold (VG) from drill hole PEX-24-197 from the regional exploration program in western Perron. Mineralization style shares similar features with other gold mineralization at Perron.

Figure 9: Screenshot from Leapfrog modelling software to illustrate the proximity of recent drill intercepts in the Gratien Gold Zone to existing planned underground stopes from the PEA.

Figure 10: Screenshot from Leapfrog modelling software to illustrate the proximity of recent drill intercepts in the Denise Gold Zone to existing planned underground stopes from the PEA.

Table 1: Assay results from Eastern Gold Zone at Perron displaying both core length and estimated true thickness.

Table 2: Assay results from Grey Cat, Gratien and N110 gold zones at Perron.