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Montreal,¬†Quebec--(Newsfile Corp. - December 5, 2022) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce that it was awarded the Exploration Company of the Year Award on Thursday, December 1, 2022, in front of an international audience of its peers at the Mines and Money Annual Gala Dinner. The Exploration Company of the Year Award is a competitive category that recognizes success in arguably the most important area of the mining sector. The 2022 Explorer of the Year acknowledges a company and its leadership team for a significant new discovery made, or advanced to a meaningful status, in the period between 1 October 2021 and 30 September 2022.

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By the end of 2022, Amex Exploration will have completed close to 375,000 m of drilling on its 100% owned Perron Project in Quebec, Canada. Amex's drilling campaign is one of the largest and most ambitious in Canada with the objective of discovering and defining the gold and VMS potential of the Perron property. By analysing and interpreting data compiled from geophysics, structural data, and geochemistry the Amex team and its partners have replicated their success in the original Eastern Gold Zone discovery and made numerous other discoveries on the project. In total Amex has outlined an area of gold and VMS mineralization that stretches over 4 km laterally on the Perron property. In the past year alone, Amex has discovered four new gold zones and two copper-rich VMS zones, while expanding and defining the High-Grade Gold Zone (HGZ) (underground mining target) and the adjacent Denise Zone (near surface bulk-tonnage target).

In addition to exploration success, Amex also recently qualified for ECOLOGO certification through a framework for environmental, social and corporate governance to adapt to the current environment of sustainable investing. Finding new mines through sustainable mineral exploration is at the heart of the Amex Exploration team's values.

Amex also completed its largest financing of ~$49.6 million in February at a price of $4.82 per flow-through share, which provides complete funding for the company's aggressive exploration program through to the end of 2023.

Victor Cantore, President and CEO of Amex Exploration, commented, "I am very proud of the dedicated team and the quality of work we have produced. Exploration is at the core of Amex culture and we continue to stay focused on delivering results for our shareholders and stakeholders. The Perron project is located in a greenstone belt of Quebec that was previously overlooked for gold. Our success has proven that perseverance leads to discoveries which will benefit the people of the area and the province of Quebec."

Cantore continued, "I would also like to take this opportunity to congratulate the Province of Quebec for winning the Most Improved Mining Jurisdiction Award recognizing its implementation of the Québec Plan for the Development of Critical and Strategic Minerals 2020-2025."

About Amex

Amex Exploration Inc. has made significant gold discoveries on its 100% owned high-grade Perron Gold Project located ~110 kilometres north of Rouyn-Noranda, Quebec, consisting of 117 contiguous claims covering 4,518 hectares. The project is well-serviced by existing infrastructure, on a year-round road, 10 minutes from an airport and just outside the town of Normétal (~8 km). In addition, the project is in close proximity to a number of major gold producers' milling operations. The project host both bulk tonnage and a high-grade gold style mineralization. Since January 2019, Amex has intersected significant gold mineralization in multiple gold zones and discovered copper-rich VMS zones.

For further information please contact:
Victor Cantore
President and Chief Executive Officer
Amex Exploration: +1-514-866-8209

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

Forward-looking statements

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

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