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Gold investment related news

 – Extends High Grade Zone at Perron –

 

MONTREAL, Canada – January 23 2019 – Amex Exploration Inc. (“Amex or the Company”) (AMX: TSX-V; FRA: MX0) is very pleased to announce that it has launched its 2019 diamond drill program on the Perron property Eastern Gold Zone (EGZ) and reports 393.33 g/t Au over 1.70 m in hole PE2019-22 (see Table 1) at a vertical depth of 170 m (see Fig. 1, 2 and 3). This hole was planned to test the high-grade vein interval in hole PE2018-17 that returned 269.2 g/t Au over 1.35 m (see PR2018-12-13B) at a vertical distance of 25 m above it, starting from the same collar location. The Perron property is located approximately 110 kilometers North of the town of Rouyn-Noranda in the Abitibi region of Quebec and is accessible year-round by road and is serviced by excellent infrastructure.

Table 1: 2019 Winter Follow-up Drilling results on the EGZ from Hole PE2019-22

Hole From To Length (m) Au (g/t)
PE2019-22 48.00 51.00 3.00 2.62
PE2019-22 incl 48.00 49.00 1.00 6.38
PE2019-22 225.85 227.55 1.70 393.33*
PE2019-22 incl 225.85 226.40 0.55 236.51*
PE2019-22 incl 226.40 226.90 0.50 677.62*
PE2019-22 Incl 226.90 227.55 0.65 307.33*
PE2019-22 298.35 298.85 0.50 18.11*
PE2019-22 369.80 370.30 0.50 2.13*

Interval intersected along the hole, undetermined true thickness.
*VG: Visible Gold or Coarse gold grains

Additionally, the low-grade zone results from hole PE2019-22 are still pending. Results above only report intersections with visible gold or coarse gold grains. Hole PE2019-23 drilled at about 25 meters vertically above hole PE2019-22 (see Fig. 3) intersected the same quartz vein and visible gold grains has been identified. Results are also pending.

Jacques Trottier PhD, Chairman of Amex Exploration commented, “The 2019 drill program is off to an exciting start with the excellent high-grade results from hole PE2019-22 that is at a vertical depth of about 170 metres from surface, which is quite shallow. Our current drilling suggests the EGZ is holding together very well, with high-grade gold mineralization being reported as the zone comes to surface. It looks very consistent in terms of grade and width. I believe 2019 will be a very outstanding year for Amex and its shareholders.”

With the very positive 2018 drill results on the EGZ (see table 2), Amex launched, on January 7, 2019, a program of 12 high priority drill holes totalling ~3,000 meters aimed at testing the lateral and shallow extensions of the high-grade zone (see Fig. 1 and 3). In addition, the program is designed to test the continuity between the mineralized intersections of previous drill holes that intersected the EGZ (i.e. infill drilling). The planned intersection spacing should enable Amex to establish an initial estimate of a potential resource calculation on the Perron EGZ.

Following the 2018 program the EGZ can now be followed from surface (from intersect in hole PE97s-35) down to a minimum vertical depth of 375 meters (from intersect in hole PE2017-03) on a minimum of strike length of at least 300 meters and still open in at depth and to the East.

Trottier continued, “The 2018 drill program added another 100 metres of strike length to the EGZ. The goal of the 2019 program is to basically target the high-grade zone of the EGZ and trace it closer to surface. We will also drill the low-grade zone of the EGZ as a second priority to establish its continuity to surface and East.”

FIGURE 1, 2018-2019 Drilled and proposed target holes locations

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FIGURE 2, Vertical section on holes PE2019-22, PE2018-17 and PE2017-03

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FIGURE 3, Longitudinal on the high-grade zone with drilled holes and proposed targets

hh

2018 Drill Program

As a reminder, the 2018 drill program consisted of 18 diamond drill holes (DDH) totalling 6,171 meters designed primarily to test the lateral and depth extensions of the known EGZ which consist if a wide low-grade zone and a high-grade zone which appears to run parallel to each other.

To conclude this first follow up drilling phase on the EGZ that ended on December 22nd 2018, a total of 7 holes were drilled totaling 2,386 meters (PE2018-15 to PE2018-21). As a point of reference, 4 holes were drilled to the West of hole PE2018-17 (holes PE2018-15 PE2018-16, PE2018-18 and PE2018-21) and 2 to the East of the same hole (PE2018-19 and PE2018-20).

With the exception of hole PE2018-21, located to the Western limit of the EGZ, ALL of the holes intersected the second, wide low-grade zone of the EGZ over now a strike length of at least 300 meters, and still open at depth and to the East. In addition, the high-grade zone of the EGZ has also now being identified in three holes covering a vertical extent length of at least 100 meters. (see Fig. 2)

Table 2: 2018 Winter Follow-up Drilling results on the EGZ from Hole PE2018-15 to PE2018-21.

Hole From To Length (m) Au (g/t)
PE2018-15 370.00 396.20 26.20 1.50
PE2018-15 374.80 379.00 4.20 3.64
PE2018-15 incl 374.80 375.30 0.50 28.66*
PE2018-15 386.00 396.20 10.20 2.07
PE2018-15 incl 387.00 388.00 1.00 12.62
PE2018-15 411.60 415.05 3.45 2.19
PE2018-15 incl 411.60 411.90 0.30 22.40*
PE2018-15 414.75 415.05 0.30 2.50*
PE2018-15 442.50 443.00 0.50 2.17*
PE2018-15 469.85 475.20 5.35 3.41
PE2018-15 incl 469.85 470.40 0.55 30.77*
PE2018-15 incl 469.85 471.80 1.95 9.13
Hole From To Length (m) Au (g/t)
PE2018-16 97.60 101.55 3.95 0.71
PE2018-16 134.00 139.00 5.00 0.75
PE2018-16 incl 134.00 134.30 0.30 4.04*
PE2018-16 162.00 180.50 18.50 0.51
PE2018-16 incl 168.50 174.20 5.70 0.80
PE2018-16 194.00 195.00 1.00 1.42
PE2018-16 205.50 212.30 6.80 0.79
PE2018-16 260.30 267.00 6.70 1.57
PE2018-16 incl 260.30 261.50 1.20 4.95
PE2018-16 incl 263.55 265.00 1.45 2.69
PE2018-16 296.00 297.15 1.15 0.65
PE2018-16 301.60 305.15 3.55 0.38
Hole From To Length (m) Au (g/t)
PE2018-17 241.85 243.2 1.35 269.23*
PE2018-17 307.60 421.00 113.40 0.34
PE2018-17 incl 307.60 318.50 10.90 0.55
PE2018-17 incl 314.00 315.00 1.00 4.02
PE2018-17 incl 376.00 421.00 45.00 0.60
PE2018-17 incl 376.00 387.85 11.85 0.91
PE2018-17 incl 376.00 384.00 8.00 1.29
PE2018-17 incl 382.00 383.00 1.00 6.99
PE2018-17 incl 400.25 400.75 0.50 13.88*
PE2018-17 incl 400.25 421.00 20.75 0.74
PE2018-17 incl 417.70 418.20 0.50 4.47*
PE2018-17 incl 419.20 420.00 0.80 2.37*
Hole From To Length (m) Au (g/t)
PE2018-18 63.80 64.35 0.55 6.79
PE2018-18 88.00 89.50 1.50 2.58
PE2018-18 117.00 161.00 44.00 0.87
PE2018-18 incl 123.00 142.60 19.60 1.45
PE2018-18 incl 123.00 129.70 6.70 2.51
PE2018-18 incl 128.30 129.70 1.40 10.71
PE2018-18 incl 139.60 140.10 0.50 5.84
PE2018-18 incl 160.50 161.00 0.50 3.44*
PE2018-18 183.20 183.70 0.50 2.85*
PE2018-18 189.00 190.50 1.50 5.92
PE2018-18 215.00 219.00 4.00 0.83
PE2018-18 237.50 252.50 15.00 0.42
PE2018-18 incl 250.50 252.50 2.00 1.70
PE2018-18 incl 250.50 251.00 0.50 4.65
Hole From To Length (m) Au (g/t)
PE2018-19 217.50 220.10 2.60 0.83
PE2018-19 incl 219.00 220.10 1.10 1.25
PE2018-19 261.00 268.50 7.50 0.21
Hole From To Length (m) Au (g/t)
PE2018-20 87.20 87.65 0.45 2.16
PE2018-20 106.90 107.90 1.00 2.27
PE2018-20 175.35 177.25 1.90 0.81
PE2018-20 190.00 199.60 9.60 0.32
PE2018-20 incl 195.00 195.60 0.60 2.24
PE2018-20 215.50 216.00 0.50 3.01
PE2018-20 243.25 245.00 1.75 0.60
Hole From To Length (m) Au (g/t)
PE2018-21 49.75 50.75 1.00 1.54*

Interval intersected along the hole, undetermined true thickness.
*VG: Visible Gold or Coarse gold grains

 

Maxime Bouchard M.Sc.A, Geologist of Laurentia Exploration, a Qualified Person as defined by Canadian NI 43-101, reviewed and approved the geological information of the current drilling reported in this news release. The drilling campaign and the quality control program has been planned and supervised by Maxime Bouchard and Amex’s management. The QAQC include insertion of blank or standard every 10 samples on average. The gold values are estimated by Fire Assay with finish by atomic absorption and value over 3 ppm Au are re-analysed by fire Assay with finish by gravimetry by Laboratoire Expert Inc, Rouyn-Noranda. For additional quality assurance and quality control, all samples were crushed to 90% less than 2mm and samples with visible gold were analyse by metallic sieve. Core Logging and sampling was realized by Maxime Bouchard and Alizée Lienard M.Sc.A, Trainee Geologist of Laurentia Exploration.

About Amex

Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to develop and bring into production viable gold and base metals deposits in mining-friendly jurisdictions. Amex has multiple highly prospective projects: the 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 116 adjacent claims covering 4518 hectares; the 100% owned Eastmain River gold properties consisting of 135 claims covering 7,102 hectares and the 100% owned Cameron project located in Lebel-sur-Quévillon, Quebec, comprising 263 claims covering 14,743 hectares. In addition, Amex has an option agreement to acquire a 100% interest in the Gowan Property located near the Kidd Creek Mine.

For further information please contact:

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

Forward-looking statements:

Except for statements of historical facts, all statements in this news release regarding, without limitation, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements.

Neither 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.

MONTREAL, Canada – February 04, 2019 – Amex Exploration Inc. (“Amex or the Company”) (AMX: TSX-V; FRA: MX0) is very pleased to announce that ongoing  drilling of the Eastern Gold Zone (“EGZ”) at the Perron project (“Perron”) has successfully intersected additional high grade gold mineralization which verifies vertical continuity in the near-surface portion of the system. Drill hole PE2019-24 intersected 24.06 g/t over 5.85 m including 214.71 g/t Au over 0.65 metres at a vertical depth of ~235 m and drill hole PE2019-23 intersected 39.58 g/t Au over 0.75 metres at a vertical depth of ~135 m (see figure 1, 2 and 3).

In addition to these results, the Company wishes to report that the first 25 metre step-out hole (X26) testing the lateral extent of the High Grade Zone has intersected visible gold. The Company is actively and aggressively advancing the exploration program on the EGZ and looks forward to the results from the ongoing drilling.

FIGURE 1, 2018-2019 Drilled and proposed target hole locations

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FIGURE 2, Vertical section on holes PE2019-22, PE2019-23 and PE2019-24.

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FIGURE 3, Longitudinal on the high-grade zone with drilled holes and proposed targets

dd

The vertical continuity of the High Grade Zone is now confirmed with hole PE2019-23 and PE2019-24. The zone has been intersected in the same section over a vertical distance of approximately 150 metres pierce point to pierce point with a spacing varying from 25 to 50 metres. The High Grade Zone extends to a depth of approximately 275 metres below surface and remains open at depth and on strike. The Company has begun to test the lateral extent of the system with a 25 metre step-out program. Proposed drill hole X26 has been completed and the Company is now drilling X27 (see figure 3). All drill holes to date testing the High Grade Zone have successfully intersected visible gold mineralization.

Victor Cantore President and Chief Executive Officer of Amex Exploration commented: “Drilling at the Eastern Gold Zone has continually exceeded the Company’s expectations. With these results we have confirmed the vertical continuity of what appears to be a robust high-grade gold system. We are very much looking forward to the ongoing step-out drilling which will test the lateral continuity and grade of the High Grade Zone of the EGZ.”

In addition, the Company is pleased to report the results of the balance of hole PE2019-22 which intersected a second Low Grade Zone (LG2) with 40 m of 0.50 g/t Au and the original Low Grade Zone (LG1) target with 11.45 m at 0.92 g/t Au. Visible gold was identified within this Low Grade Zone.

Table 1: 2019 Winter Follow-up Drilling results on the EGZ from Hole PE2019-22, PE2019-23 and PE2019-24

Hole From To Length (m) Au (g/t)
PE2019-22 225.85 227.55 1.70 393.33*
PE2019-22 incl 225.85 226.40 0.55 236.51*
PE2019-22 incl 226.40 226.90 0.50 677.62*
PE2019-22 incl 226.90 227.55 0.65 307.33*
PE2019-22 273.00 313.00 40.00 0.50
PE2019-22 incl 286.00 301.85 15.85 1.01
PE2019-22 incl 298.35 298.85 0.50 18.11*
PE2019-22 369.80 370.30 0.50 2.13*
PE2019-22 384.55 396.00 11.45 0.92
PE2019-22 incl 391.50 394.9 3.40 2.69
PE2019-22 incl 394.40 394.9 0.50 4.39*
Hole From To Length (m) Au (g/t)
PE2019-23 198.20 200.45 2.25 13.29
PE2019-23 incl 198.20 198.95 0.75 39.58*
Hole From To Length (m) Au (g/t)
PE2019-24 272.00 277.85 5.85 24.06
PE2019-24 incl 277.20 277.85 0.65 214.71*

Interval intersected along the hole, undetermined true thickness.

*VG: Visible Gold or Coarse gold grains

About the Eastern Gold Zone

The EGZ was discovered in December of 2017 during a regional exploration drilling campaign. The discovery hole, PE-17-03, identified two zones of near-surface mineralization, called the High Grade Zone and the Low Grade Zone, which returned values including 12.22 g/t Au over 4.66 metres and 0.81 g/t Au over 76.5 metres, respectively. Follow-up drilling in 2018 in drill hole PE2018-17 intersected values including 269.23 g/t Au over 1.35 metres and 0.74 g/t Au over 20.75 in the High Grade Zone and Low Grade Zone, respectively. Following this, an aggressive exploration program totalling approximately 2,100 metres targeting the High Grade Zone has begun, from which assays have returned grades including 393.33 g/t over 1.7 metres in PE2019-22, 39.58 g/t Au over 0.75 metres in PE2019-23, and 214.71 g/t Au over 0.65 metres in PE2019-24.

 

Qualified Person

Maxime Bouchard M.Sc.A, Geologist of Laurentia Exploration, a Qualified Person as defined by Canadian NI 43-101, reviewed and approved the geological information of the current drilling reported in this news release. The drilling campaign and the quality control program has been planned and supervised by Maxime Bouchard and Amex’s management. The QAQC include insertion of blank or standard every 10 samples on average. The gold values are estimated by Fire Assay with finish by atomic absorption and value over 3 ppm Au are re-analysed by fire Assay with finish by gravimetry by Laboratoire Expert Inc, Rouyn-Noranda. For additional quality assurance and quality control, all samples were crushed to 90% less than 2mm and samples with visible gold were analyse by metallic sieve. Core Logging and sampling was realized by Maxime Bouchard and Alizée Lienard M.Sc.A, Geologist in training of Laurentia Exploration.

 

About Amex

Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to develop and bring into production viable gold and base metals deposits in mining-friendly jurisdictions. Amex has multiple highly prospective projects: the 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 116 adjacent claims covering 4518 hectares; the 100% owned Eastmain River gold properties consisting of 135 claims covering 7,102 hectares and the 100% owned Cameron project located in Lebel-sur-Quévillon, Quebec, comprising 263 claims covering 14,743 hectares. In addition, Amex has an option agreement to acquire a 100% interest in the Gowan Property located near the Kidd Creek Mine.

For further information please contact:

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

Forward-looking statements:

 

Except for statements of historical facts, all statements in this news release regarding, without limitation, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements.

Neither 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.

MONTREAL, Canada – February 13, 2019 – Amex Exploration Inc. (“Amex” or the “Company”) (AMX: TSX-V; FRA: MX0) announces that it has undertaken to complete a non-brokered private placement in the maximum amount of $5,025,000, through the offering of up to 6,700,000 units priced at $0.75 each.  Each unit will consist of one common share and one half of a common share purchase warrant (the “Warrant”) having an exercise price of $1.25 and a term of 18 months. The Warrants are subject to an accelerated expiry if the volume weighted average price of the common shares is greater than or equal to $1.50 for any 20 consecutive trading days and, if the Company has given notice.  The Warrants will expire 30 days following the date of such notice. Funds will be used for exploration work on the on-going drilling program on the Perron property and for general working capital purposes.

Certain directors and insiders of Amex are expected to participate in the private placement for a maximum aggregate amount of $375,000.  Pursuant to Policy 5.9 of the TSXV and Regulation 61-101 Respecting protection of minority security holders in special transactions (“Rule 61-101”), each of these transactions will constitute a “related party transaction” and as such, minority shareholder approval and a formal valuation may be required.  However, the board expects that such transactions will meet the exemptions set out in Rule 61-101.

All securities issued pursuant to the private placement will be subject to a 4-month and one day hold period and the transaction remains subject to the receipt of all necessary regulatory approvals, including the final approval of the TSX Venture Exchange.

In connection with the private placement, Amex may enter into finder’s fee agreements with qualified persons and may pay a commission.

About Amex

Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to develop and bring into production viable gold and base metals deposits in mining-friendly jurisdictions. Amex has multiple highly prospective projects: the 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 116 adjacent claims covering 4518 hectares; the 100% owned Eastmain River gold properties consisting of 135 claims covering 7,102 hectares and the 100% owned Cameron project located in Lebel-sur-Quévillon, Quebec, comprising 263 claims covering 14,743 hectares. In addition, Amex has an option agreement to acquire a 100% interest in the Gowan Property located near the Kidd Creek Mine.

For further information please contact:

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

The securities to be issued pursuant to the offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “1933 Act”), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.

 

Neither 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:

Except for statements of historical fact, this news release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” occur. Although Amex believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct or that it will complete the private placement, as contemplated herein, as such forward-looking statements are subject to risks and uncertainties that may cause actual results, or developments to differ materially from those contained in the statements.

MONTREAL, Canada – February 11, 2019 – Amex Exploration Inc. (“Amex or the Company”) (AMX: TSX-V; FRA: MX0) is pleased to announce the appointment of Kelly Malcolm, P.Geo, as Vice President, Exploration of the Company. Mr. Malcolm previously acted as a technical advisor and Qualified Person to Amex since December of 2017.

Mr. Malcolm is a Professional Geologist with extensive exploration experience focused on precious metal exploration. He specializes in the integration and interpretation of geological, geochemical, and geophysical data to guide exploration and development activities. He was recently involved in the discovery and delineation of Detour Gold’s high grade 58N gold deposit, and has acted as director, advisor, or management for several public and private mineral exploration companies. He holds a Bachelor of Science Honours in geology and a Bachelor of Arts in economics, both from Laurentian University.

“We are very pleased to have a seasoned exploration professional of Kelly’s calibre join the Amex management team.  Kelly’s skills and experience, especially in the Abitibi Greenstone Belt, will be a significant benefit in unlocking the potential of Perron and advancing our growth objectives at Amex,” said Jacques Trottier, Executive Chairman of Amex.

“I am thrilled to be joining Amex at such an exciting time for the Company. The Eastern Gold Zone at Perron continues to impress with high grade gold mineralization. I look forward to helping Amex continue to explore and develop its highly prospective asset portfolio,” said Kelly Malcolm.

Update on Drilling at the Eastern Gold Zone

The Company is also pleased to announce that ongoing drilling of the High Grade Zone of the Eastern Gold Zone continues to intersect visible course gold mineralization while testing the lateral extents and orientation of the High Grade Zone. The Company will announce assay results once they have been received and reviewed.

The High Grade Zone is hosted within a quartz vein that occurs at the contact of a regionally extensive rhyolite package and a narrow mafic intrusion. The quartz vein can occur at the upper and/or lower contact of the intrusion. Coarse gold mineralization occurs most often in association with sphalerite but also as free gold within quartz or at the margins of pyrite grains. As of the Company’s most recent press release on February 4th 2019, the zone has been intersected in the same section over a vertical distance of approximately 150 metres pierce point to pierce point with a spacing varying from 25 to 50 metres. The High Grade Zone extends to a depth of approximately 275 metres below surface and remains open at depth and on strike.

The current drilling program consists of approximately 3,000 metres testing the orientation, lateral extent, depth extent, and continuity of the High Grade Zone of the Eastern Gold Zone. An updated presentation discussing the Eastern Gold Zone is available on the Amex website.

 

The technical content of this news release has been reviewed and approved by Kelly Malcolm, P.Geo., Vice President, Exploration for the company, and qualified person as defined by National Instrument 43-101.

 

About Amex

Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to develop and bring into production viable gold and base metals deposits in mining-friendly jurisdictions. Amex has multiple highly prospective projects: the 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 116 adjacent claims covering 4518 hectares; the 100% owned Eastmain River gold properties consisting of 135 claims covering 7,102 hectares and the 100% owned Cameron project located in Lebel-sur-Quévillon, Quebec, comprising 263 claims covering 14,743 hectares. In addition, Amex has an option agreement to acquire a 100% interest in the Gowan Property located near the Kidd Creek Mine.

For further information please contact:

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

Forward-looking statements:

Except for statements of historical facts, all statements in this news release regarding, without limitation, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements.

Neither 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

MONTREAL, Canada – February 21, 2019 – Amex Exploration Inc. (“Amex” or the “Company”) (AMX: TSX-V; FRA: MX0) announces the completion of the previously announced non-brokered private placement, in the amount of $5,442,875.

In connection with the offering (the “Offering”) 7,256,000 units, each priced at $0.75 (the “Units”) were issued, with each Unit consisting of one common share and one half (½) of one common share purchase warrant (the “Warrant”) having an exercise price of $1.25 and a term of 18 months provided that, the Company may issue a notice of acceleration to the Warrant holders if the volume weighted average price of the common shares is greater or equal to, $1.50 for 20 consecutive trading days in which case the Warrants will expire 30 days later.

Victor Cantore, President and CEO of Amex Exploration commented, ‘With this financing we are very pleased to welcome Mr. Eric Sprott as a new strategic investor. Mr. Sprott is a renowned precious metals investor with an excellent understanding of gold projects.” Cantore continued, “Our drill program is continuing at a very good pace and this hard dollar financing provides us with the financial resources to fully explore the potential of our gold property.”

Mr. Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, acquired 4,000,000 Units under the Offering for a total consideration of $3,000,000.  Following the completion of the private placement, Mr Sprott’s holdings represent 7.40% of the issued and outstanding common shares of the Company, on a non-diluted basis, and 10.71% on a partially diluted basis, assuming the exercise of the Warrants acquired hereunder and forming part of the Units. Mr. Sprott did not beneficially own any securities in the Company prior to this investment. The Units were acquired by Mr. Sprott for investment purposes and with a long-term view of the investment. Mr. Sprott may acquire additional securities of the Company either on the open market or through private acquisitions or sell securities of the Company either on the open market or through private dispositions in the future, depending on market conditions, reformulation of plans and/or other relevant factors. A copy of 2176423 Ontario Ltd.’s early warning report will appear on the Company’s profile on SEDAR and may also be obtained by calling (416) 362-7172 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J2).

Three directors of Amex, Victor Cantore, Pierre Carrier and André Shareck, have participated in the private placement for the aggregate amount of $210,000.  Pursuant to Policy 5.9 of the TSXV and Regulation 61-101 Respecting protection of minority security holders in special transactions (“Regulation 61-101”), each of these transactions constitute a “related party transaction” and as such, minority shareholder approval and a formal valuation may be required.  However, such transactions meet the exemptions set out in Regulation 61-101 as the fair market value of the consideration for the transactions, as they involve related parties, does not exceed 25% of Amex’s market capitalization, as per Sections 5.5(a) and 5.7(a) of Regulation 61-101. A material change report in respect of this transaction will be filed however, the Corporation could not do so 21 days prior to the anticipated closing as their intent to participate was not determined at such time.

In connection with the private placement, Amex paid finder’s fee to several eligible intermediaries, including Generic Capital Corporation and Stephen Avenue Securities, in the aggregate amount of:  $19,125 paid in cash; 307,440 Units in lieu of cash; and 332,000 non transferable broker warrants, having the terms and conditions of the Warrants issued under the Offering.  All securities issued pursuant to the private placement are subject to a 4-month and one day hold period and the transaction remains subject to the receipt of all necessary regulatory approvals, including the final approval of the TSX Venture Exchange.

About Amex

Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to develop and bring into production viable gold and base metals deposits in mining-friendly jurisdictions. Amex has multiple highly prospective projects: the 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 116 adjacent claims covering 4518 hectares; the 100% owned Eastmain River gold properties consisting of 135 claims covering 7,102 hectares and the 100% owned Cameron project located in Lebel-sur-Quévillon, Quebec, comprising 263 claims covering 14,743 hectares. In addition, Amex has an option agreement to acquire a 100% interest in the Gowan Property located near the Kidd Creek Mine.

Neither 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

For further information please contact:

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

The securities to be issued pursuant to the offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “1933 Act”), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.

 

Forward-looking statements:

Except for statements of historical fact, this news release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” occur. Although Amex believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct or that it will complete the private placement, as contemplated herein, as such forward-looking statements are subject to risks and uncertainties that may cause actual results, or developments to differ materially from those contained in the statements.

MONTREAL, Canada – February 22, 2019 – Amex Exploration Inc. (“Amex” or the “Company”) (AMX: TSX-V; FRA: MX0) announces that its Board of Directors has approved the granting of a total of 2,250,000 incentive stock options to certain directors, officers and consultants.  The options which vest immediately can be exercised at the price of $1.24 for a period of 5 years.

About Amex

Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to develop and bring into production viable gold and base metals deposits in mining-friendly jurisdictions. Amex has multiple highly prospective projects: the 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 116 adjacent claims covering 4518 hectares; the 100% owned Eastmain River gold properties consisting of 135 claims covering 7,102 hectares and the 100% owned Cameron project located in Lebel-sur-Quévillon, Quebec, comprising 263 claims covering 14,743 hectares. In addition, Amex has an option agreement to acquire a 100% interest in the Gowan Property located near the Kidd Creek Mine.

Neither 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

For further information please contact:

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

The securities to be issued pursuant to the offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “1933 Act”), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.

 

Forward-looking statements:

Except for statements of historical fact, this news release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” occur. Although Amex believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct or that it will complete the private placement, as contemplated herein, as such forward-looking statements are subject to risks and uncertainties that may cause actual results, or developments to differ materially from those contained in the statements.

MONTREAL, Canada – February 27, 2019 – Amex Exploration Inc. (“Amex or the Company”) (AMX: TSX-V; FRA: MX0) is very pleased to announce that ongoing drilling of the Eastern Gold Zone (“EGZ”) at the Perron project (“Perron”) has successfully intersected additional high grade gold mineralization in the first lateral step-out program on the High Grade Zone (“HGZ”) of the EGZ.

Drill hole PE-19-27 intersected 56.75 g/t Au over 8.50 m including 581.59 g/t Au over 0.80 m (see Table 1) at a vertical depth of ~225 m and a lateral distance of ~25 m to the East from the previously defined vertical section of the High Grade Zone (see fig. 1 and 2). The intersected mineralization consists of two quartz veins located on either side of a foliated and fine grained mafic intrusive crosscutting a large unit of silicified rhyolite. The upper quartz vein returned a value of 17.33 g/t Au over 1.0 m and the lower quartz vein returned 581.59 g/t Au over 0.80 m. Each of these two quartz veins contains pyrite, sphalerite, and numerous visible gold as coarse grains, flakes, or points.

An additional step out drill hole, PE-19-26, intersected the two quartz veins on both sides of the mafic intrusive with values of 5.73 g/t Au over 0.95 m and 9.33 g/t Au over 0.50 m (see Table 1) at a vertical depth of ~160 m, but this time at a lateral distance of ~25 m to the West of the previously defined vertical section of the High Grade Zone (see fig 2).

A minimum lateral width of 50 metres has now been confirmed with the results from PE-19-26 and PE-19-27 as well as from visual indicators from additional unreleased holes (assays pending). The zone has now been intersected over a vertical distance of approximately 150 metres and a lateral distance of 50 metres pierce point to pierce point with a spacing varying from 25 to 50 metres. The High Grade Zone extends to a depth of approximately 275 metres below surface and remains open towards surface, to depth, and along strike.

In addition to these results, the Company wishes to report that continued step out drilling has so far successfully intersected visible gold mineralization in each hole targeting the High Grade Zone. The Company is actively and aggressively advancing the exploration program on the EGZ and looks forward to results from the ongoing drilling. The results of this ongoing near-surface drilling will enable the Company to understand the geometry and nature of the EGZ which will help to prepare an expanded drill program to target the system at depth.

FIGURE 1, Plan Map of Drilled Hole Locations

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“I am very happy that we have successfully expanded the HGZ laterally on both sides of previously identified mineralization. The increase in strike length rapidly increases the number of theoretical ounces in the system, especially at such a high grade gold content ” commented Jacques Trottier, PhD, Executive Chairman of Amex Exploration. “Of the 8 holes that we have drilled targeting the High Grade Zone for which we have received analytical results to date, three have returned values over 250 grams per ton of gold over widths varying from 0.80 metres to 1.70 metres and all contain significant amounts of visible coarse grained gold. We are very excited about the developments of the EGZ as we continue to gain a better understanding of the geometry and nature of this very high grade gold system.”

In addition, the Company is pleased to report the results from the lower portion of PE-19-26 which intersected a portion of the Low Grade Zone 2 (“LG2”) with 0.5 g/t Au over 9 m including 5.58 g/t Au over 0.45 m and an additional LG2 intercept in PE-19-25 of 3.57 g/t Au over 0.6 m.

 

FIGURE 2, Longitudinal of the High Grade Zone

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Table 1: 2019 Winter Follow-up Drilling results on the EGZ from Hole PE-19-25, PE-19-26 and PE-19-27

Hole From To Length (m) Au (g/t) Zone
PE-19-25 216.00 216.60 0.60 3.57* LG2
           
PE-19-26 199.45 199.8 0.35 11.51*  
PE-19-26 211.40 215.00 3.60 2.86 HGZ
Inc. 211.40 212.35 0.95 5.73 HGZ
Inc. 214.50 215.00 0.50 9.33 HGZ
PE-19-26 260.80 269.80 9.00 0.50 LG2
Inc. 268.35 268.80 0.45 5.58 LG2
           
PE-19-27 270.70 279.20 8.50 56.75 HGZ
Inc. 270.65 271.65 1.00 17.33* HGZ
Inc. 278.35 279.15 0.8 581.59* HGZ

Intervals reported are along the hole; true thickness is not yet determined.

*VG: visible gold identified.

 

 

About the Eastern Gold Zone

The EGZ was discovered in December of 2017 during a regional exploration drilling campaign. The discovery hole, PE-17-03, identified two zones of near-surface mineralization, called the High Grade Zone and the Low Grade Zone, which returned values including 12.22 g/t Au over 4.66 metres and 0.81 g/t Au over 76.5 metres, respectively. Follow-up drilling in 2018 in drill hole PE2018-17 intersected values including 269.23 g/t Au over 1.35 metres and 0.74 g/t Au over 20.75 in the High Grade Zone and Low Grade Zone, respectively. Following this, an aggressive exploration program totalling approximately 3,000 metres targeting the High Grade Zone has begun, from which assays have returned grades including 393.33 g/t over 1.7 metres in PE-19-22, 39.58 g/t Au over 0.75 metres in PE-19-23, 214.71 g/t Au over 0.65 metres in PE-19-24, and 56.75 g/t Au over 8.5 metres in PE-19-27.

 

Qualified Person

Maxime Bouchard M.Sc.A, P.Geo and V-P of Laurentia Exploration, 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 Maxime Bouchard and Amex’s management. The quality assurance and quality control protocol includes insertion of blank or standard every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard samples accredited by Laboratoire Expert during the analytical process. Gold values are estimated by fire assay with finish by atomic absorption and values over 3 ppm Au are re-analysed 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 2mm prior to pulverization, in order to homogenize samples which may contain coarse gold. Core logging and sampling was completed by Laurentia Exploration (Maxime Bouchard, P.Geo and Alizée Lienard GIT, both M.Sc.A).

 

About Amex

Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold and base metal projects in the mining-friendly jurisdictions on Quebec and Ontario. Amex has multiple highly prospective projects: the 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 116 adjacent claims covering 4,518 hectares; the 100% owned Eastmain River gold properties consisting of 135 claims covering 7,102 hectares and the 100% owned Cameron project located in Lebel-sur-Quévillon, Quebec, comprising 263 claims covering 14,743 hectares. In addition, Amex has an option agreement to acquire a 100% interest in the Gowan Property located near the Kidd Creek Mine.

For further information please contact:

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

Forward-looking statements:

Except for statements of historical facts, all statements in this news release regarding, without limitation, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements.

Neither 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.

MONTREAL, Canada – March 13, 2019 – Amex Exploration Inc. (“Amex or the Company”) (AMX: TSX-V; FRA: MX0) is very pleased to announce that ongoing drilling of the Eastern Gold Zone (“EGZ”) at the Perron project (“Perron”) has successfully intersected additional high grade gold mineralization.

Drill hole PE-19-31 intersected 89.59 g/t Au over 1.15 m including 156.83 g/t Au over 0.65 m at a shallow vertical depth of only 85 m. Drill hole PE-19-33 intersected 32.11 g/t Au over 7.20 m including 52.19 g/t Au over 0.5 m in the upper vein and 248.05 g/t Au over 0.8 m in the lower vein at a vertical depth of 245 m. The intersected mineralization, which is characteristic of the EGZ High Grade Zone (HGZ), consists of two gold-bearing quartz veins located on either side of a narrow weakly mineralized mafic intrusive crosscutting a large unit of silicified rhyolite. These two quartz veins typically contain sphalerite, pyrite, and visible gold as coarse grains, flakes, or specs. Additional gold-bearing intersections are detailed in Table 1.

In addition to these results, the Company wishes to report that it has identified additional visible gold in recently completed drill holes for which assays are pending.

With the high grade results from PE-19-31 and the visual geological indicators from PE-19-32 it appears that the HGZ extends close to surface, and with the results from PE-19-28, PE-19-33, and earlier holes it appears that the HGZ is robust and high-grade laterally and to depth. The zone has now been intersected over a vertical distance of 225 metres with a lateral distance of 25 meters to 50 metres pierce point to pierce point with a spacing varying from 25 to 50 metres. The High Grade Zone extends to a depth of approximately 280 metres below surface and remains open towards surface, to depth, and along strike.

“These new results further confirm the high-grade nature of the EGZ,” commented Jacques Trottier, Ph.D., Executive Chairman of Amex Exploration. “We continue to expand the dimensions of the zone, especially with the near surface intersections contained in this release. We are very excited about the potential of the system at depth and our next holes are targeting deeper gold mineralization.”

Figure 1: Plan Map of Drilled Hole Locations.

Table 1: Drill results on the EGZ from holes PE-19-28, PE-19-29, PE-19-30, PE-19-31, PE-19-32, and PE-19-33.

Hole From To Length (m) Au (g/t) Zone
PE-19-28 320.5 327.05 6.55 3.74 HGZ
Including 320.5 322 1.5 11.65 HGZ
and Including 326.55 327.05 0.5 13.82 HGZ
PE-19-29 261.75 262.65 0.9 4.66 HGZ
PE-19-30 89.2 90.55 1.35 8.61  
and 218.8 225.65 6.85 2.78 HGZ
Including 223.9 224.65 0.75 17.7 HGZ
PE-19-31 129.9 137 7.1 14.56 HGZ
Including 135.85 137 0.65 156.83 HGZ
PE-19-32 115.3 115.8 0.5 2.52 HGZ
PE-19-33 290.6 297.8 7.2 32.11 HGZ
Including 290.6 291.6 1 32.65 HGZ
which Includes 290.6 291.1 0.5 52.19 HGZ
and Including 297 297.8 0.8 248.05 HGZ

Intervals reported are along the hole; true thickness is not yet determined.

*VG: visible gold identified.

Figure 2: Longitudinal of the High Grade Zone.

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About the Eastern Gold Zone

The EGZ was discovered in December of 2017 during a regional exploration drilling campaign. The discovery hole, PE-17-03, identified two zones of near-surface mineralization, called the High Grade Zone and the Low Grade Zone, which returned values including 12.22 g/t Au over 4.66 metres and 0.81 g/t Au over 76.5 metres, respectively. Follow-up drilling in 2018 in drill hole PE2018-17 intersected values including 269.23 g/t Au over 1.35 metres and 0.74 g/t Au over 20.75 in the High Grade Zone and Low Grade Zone, respectively. Following this, an aggressive exploration program totalling approximately 3,000 metres targeting the High Grade Zone was completed, from which assays have returned grades including 393.33 g/t over 1.7 metres in PE-19-22, 39.58 g/t Au over 0.75 metres in PE-19-23, 214.71 g/t Au over 0.65 metres in PE-19-24, 56.75 g/t Au over 8.5 metres in PE-19-27, 89.59 g/t over 1.15 metres in PE-19-31 and 32.11 g/t Au over 7.20 metres in PE-19-33. Following the completion of the 3,000 metre campaign, the Company has recently begun a 10,000 metre program to begin testing the system to depth. Amex provides all announced drilling data from the EGZ on its website at http://www.amexexploration.com/perron/drill-data-room/.

 

Qualified Person

Maxime Bouchard M.Sc.A, P.Geo and Jérôme Augustin Ph.D., P.Geo, Independent Qualified Persons as defined by Canadian NI 43-101 standards, have reviewed and approved the geological information reported in this news release. The drilling campaign and the quality control program have been planned and supervised by Maxime Bouchard and Amex’s management. The quality assurance and quality control protocol includes insertion of blank or standard every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard samples accredited by Laboratoire Expert during the analytical process. Gold values are estimated by fire assay with finish by atomic absorption and values over 3 ppm Au are re-analysed 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 2mm prior to pulverization, in order to homogenize samples which may contain coarse gold. Core logging and sampling was completed by Laurentia Exploration (Maxime Bouchard M.Sc.A, P.Geo, Jérôme Augustin Ph.D., P.Geo and Alizée Lienard M.Sc.A, GIT).

 

About Amex

Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold and base metal projects in the mining-friendly jurisdictions on Quebec and Ontario. Amex has multiple highly prospective projects: the 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 116 adjacent claims covering 4,518 hectares; the 100% owned Eastmain River gold properties consisting of 135 claims covering 7,102 hectares and the 100% owned Cameron project located in Lebel-sur-Quévillon, Quebec, comprising 263 claims covering 14,743 hectares. In addition, Amex has an option agreement to acquire a 100% interest in the Gowan Property located near the Kidd Creek Mine.

For further information please contact:

Victor Cantore

President and Chief Executive Officer

Amex Exploration: 514-866-8209

Forward-looking statements:

Except for statements of historical facts, all statements in this news release regarding, without limitation, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements.

Neither 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

MONTREAL, Canada – March 26, 2019 – Amex Exploration Inc. (“Amex or the Company”) (AMX: TSX-V; FRA: MX0) is very pleased to announce that ongoing drilling of the Eastern Gold Zone (“EGZ”) at the Perron project (“Perron”) continues to intersect high grade gold mineralization in additional step out drillholes.

Drill hole PE-19-36 intersected 11.05 g/t Au over 10.3 m including 99.2 g/t Au over 0.5 m, 18.3 g/t Au over 0.5 m, and 77.61 g/t Au over 0.6 m on the Company’s furthest east 25 metre step-out hole testing the High Grade Zone (“HGZ”). The intersected mineralization, which is characteristic of the HGZ, consists of two gold-bearing quartz veins located on either side of a narrow weakly mineralized mafic intrusive crosscutting a large unit of silicified rhyolite. These two quartz veins typically contain sphalerite, pyrite, and visible gold as coarse grains, flakes, or specs. Additional gold-bearing intersections are detailed in Table 1 and shown in Figures 1 and 2.

In addition to these results, the Company wishes to report that it has identified additional visible gold in recently completed drill holes for which assays are pending.

With the high grade results from PE-19-36 and additional mineralization encountered in PE-19-35, the Company has now confirmed an additional 25 metres of strike of the HGZ mineralized system. The zone has now been intersected over a vertical distance of 300 metres with a lateral distance of over 50 metres pierce point to pierce point with a spacing varying from 25 to 50 metres. The High Grade Zone remains open along strike, towards surface and to depth.

“These new results extend the strike of the High Grade Zone which now rapidly enables the Company to build up tonnage and confirms our interpretation of a sheet-like geometry of this very high grade gold system,” commented Jacques Trottier, Ph.D., Executive Chairman of Amex Exploration.

FIGURE 1: Plan Map of Drilled Hole Locations

 

Table 1: Drill results on the EGZ from holes PE-19-34, PE-19-35, and PE-19-36

 

Hole From To Length (m) Au (g/t) Zone
PE-19-34 226.35 227 0.65 1.44* HGZ
And 232.4 234.1 1.7 11.34* HGZ
Including 232.4 232.9 0.5 5.78* HGZ
And including 232.9 233.4 0.5 20.38* HGZ
And including 233.4 234.1 0.7 8.87* HGZ
 
PE-19-35 268.65 269.3 0.65 9.68 HGZ
 
PE-19-36 302.7 313 10.3 11.05* HGZ
Including 302.7 303.2 0.5 99.22* HGZ
And including 303.2 303.7 0.5 18.3* HGZ
And including 312.4 313 0.6 77.61* HGZ

Intervals reported are along the hole; true thickness is not yet determined.

*VG: visible gold identified

 

About the Eastern Gold Zone

The EGZ was discovered in December of 2017 during a regional exploration drilling campaign. The discovery hole, PE-17-03, identified two zones of near-surface mineralization, called the High Grade Zone and the Low Grade Zone, which returned values including 12.22 g/t Au over 4.66 metres and 0.81 g/t Au over 76.5 metres, respectively. Follow-up drilling in 2018 in drill hole PE-18-17 intersected values including 269.23 g/t Au over 1.35 metres and 0.74 g/t Au over 20.75 in the High Grade Zone and Low Grade Zone, respectively. Following this, an aggressive exploration program totalling approximately 3,000 metres targeting the High Grade Zone was completed, from which assays have returned grades including 393.33 g/t over 1.7 metres in PE-19-22, 39.58 g/t Au over 0.75 metres in PE-19-23, 214.71 g/t Au over 0.65 metres in PE-19-24, 56.75 g/t Au over 8.5 metres in PE-19-27, 89.59 g/t over 1.15 metres in PE-19-31 and 32.11 g/t Au over 7.20 metres in PE-19-33. Following the completion of the 3,000 metre campaign, the Company has recently begun a 10,000 metre program to begin testing the system to depth. Amex provides all announced drilling data from the EGZ on its website at http://www.amexexploration.com/perron/drill-data-room/.

 

FIGURE 2: Longitudinal of the High Grade Zone

Qualified Person
Maxime Bouchard M.Sc.A., P.Geo and Jérôme Augustin Ph.D., P.Geo, Independent Qualified Persons as defined by Canadian NI 43-101 standards, have reviewed and approved the geological information reported in this news release. The drilling campaign and the quality control program have been planned and supervised by Maxime Bouchard and Amex’s management. The quality assurance and quality control protocol includes insertion of blank or standard every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard samples accredited by Laboratoire Expert during the analytical process. Gold values are estimated by fire assay with finish by atomic absorption and values over 3 ppm Au are re-analysed 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 2mm prior to pulverization, in order to homogenize samples which may contain coarse gold. Core logging and sampling was completed by Laurentia Exploration (Maxime Bouchard M.Sc.A, P.Geo, Jérôme Augustin Ph.D., P.Geo and Alizée Lienard M.Sc.A., GIT).

 

About Amex
Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold and base metal projects in the mining-friendly jurisdictions on Quebec and Ontario. Amex has multiple highly prospective projects: the 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 116 adjacent claims covering 4,518 hectares; the 100% owned Eastmain River gold properties consisting of 135 claims covering 7,102 hectares and the 100% owned Cameron project located in Lebel-sur-Quévillon, Quebec, comprising 263 claims covering 14,743 hectares. In addition, Amex has an option agreement to acquire a 100% interest in the Gowan Property located near the Kidd Creek Mine.

 

For further information please contact:

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

 

Forward-looking statements:

Except for statements of historical facts, all statements in this news release regarding, without limitation, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements.

Neither 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

MONTREAL, Canada – APRIL 30, 2019 – Amex Exploration Inc. (“Amex or the Company”) (AMX: TSX-V; FRA: MX0) is very pleased to announce that ongoing drilling of the Eastern Gold Zone (“EGZ”) at the Perron project (“Perron”) continues to intersect high grade gold mineralization in additional step out drillholes.

The current results include several high grade intersects, including 42.81 g/t Au over 0.50 m and 32.13 g/t Au over 0.60 m in PE-19-37 and 45.57 g/t Au over 0.50 m in PE-19-42. These holes are some of the deepest that the Company has drilled to date on High Grade Zone (“HGZ”) of the EGZ. The intersected mineralization, which is characteristic of the HGZ, consists of two gold-bearing quartz veins located on either side of a narrow weakly mineralized mafic intrusive crosscutting a large unit of silicified rhyolite. These two quartz veins typically contain sphalerite, pyrite, and visible gold as coarse grains, flakes, or specs. Additional gold-bearing intersections are detailed in Table 1 and shown in Figure  1 and 2.

“Amex continues to intersect excellent gold grades in the Eastern Gold Zone. To date, more than 11 holes have interested the HGZ with values greater than one ounce per tonne of gold, over the entire width of one or both gold-bearing quartz veins, over a vertical depth of 425 metres. Each drill hole targeting the zone has intersected the two veins, which is especially encouraging as we test the system to depth. Further, the system is showing good continuity and very little indication of post-mineralization deformation, which is highly beneficial for exploration targeting and potential future development,” commented Jacques Trottier, Ph.D., Executive Chairman of Amex Exploration.

About the Eastern Gold Zone

The EGZ was discovered in December of 2017 during a regional exploration drilling campaign. The discovery hole, PE-17-03, identified two zones of near-surface mineralization, called the High Grade Zone and the Low Grade Zone, which returned values including 12.22 g/t Au over 4.66 metres and 0.81 g/t Au over 76.50 metres, respectively. Follow-up drilling in 2018 in drill hole PE-18-17 intersected values including 269.23 g/t Au over 1.35 metres and 0.74 g/t Au over 20.75 in the High Grade Zone and Low Grade Zone, respectively. Following this, an aggressive exploration program totalling approximately 3,000 metres targeting the High Grade Zone was completed, from which assays have returned grades including 393.33 g/t Au over 1.70 metres in PE-19-22, 39.58 g/t Au over 0.75 metres in PE-19-23, 214.71 g/t Au over 0.65 metres in PE-19-24, 56.75 g/t Au over 8.50 metres in PE-19-27, 89.59 g/t Au over 1.15 metres in PE-19-31 and 32.11 g/t Au over 7.20 metres in PE-19-33. Following the completion of the 3,000 metre campaign, the Company has recently begun a 10,000 metre program to begin testing the system to depth. Amex provides all announced drilling data from the EGZ on its website at http://www.amexexploration.com/perron/drill-data-room/.

FIGURE 1: Plan Map of Drilled Hole Locations

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Table 1: Drill results on the EGZ from holes PE-19-37, PE-19-38, PE-19-39, PE-19-40, PE-19-41 and PE-19-42

Hole From To Length (m) Au (g/t) Zone
PE-19-37 329.40 335.20 5.80 7.90* HGZ
including 329.40 331.50 2.10 20.61* HGZ
Including 329.40 329.90 0.50 42.81* HGZ
Including 330.40 331.00 0.60 32.13 HGZ
Including 334.70 335.20 0.50 5.08* HGZ
           
PE-19-38 315.75 316.40 0.65 1.05 HGZ
PE-19-38 323.30  324.85 1.55 0.34 HGZ
           
PE-19-39 187.00 187.60 0.60 5.92* HGZ
           
PE-19-40 145.25 148.40 3.15 3.17* HGZ
including 145.25 145.75 0.50 3.90* HGZ
including 146.75 147.25 0.50 8.36* HGZ
including 146.75 148.40 1.65 4.82* HGZ
including 147.25 147.90 0.65 2.14* HGZ
including 147.90 148.40 0.50 4.77 HGZ
PE-19-41 420.00 426.05 6.05 2.57 HGZ
including 420.55 421.65 1.10 6.07 HGZ
including 425.30 426.05 0.75 7.17 HGZ
           
PE-19-42 375.10 382.90 7.80 3.77 HGZ
including 382.40 382.90 0.50 45.57* HGZ

Intervals reported are along the hole; true thickness is not yet determined.
*VG: visible gold identified

FIGURE 2: Longitudinal of the High Grade Zone

ee

Qualified Person

Maxime Bouchard M.Sc.A., P.Geo. (OGQ 1752), and Jérôme Augustin Ph.D., P.Geo, (OGQ 2134), Independent Qualified Persons as defined by Canadian NI 43-101 standards, have reviewed and approved the geological information reported in this news release. The drilling campaign and the quality control program have been planned and supervised by Maxime Bouchard and Jérôme Augustin. The quality assurance and quality control protocol includes insertion of blank or standard every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard samples accredited by Laboratoire Expert during the analytical process. Gold values are estimated by fire assay with finish by atomic absorption and values over 3 ppm Au are re-analysed 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 2mm prior to pulverization, in order to homogenize samples which may contain coarse gold. Core logging and sampling was completed by Laurentia Exploration (Maxime Bouchard M.Sc.A, P.Geo, Jérôme Augustin Ph.D., P.Geo and Alizée Lienard M.Sc.A., GIT).

About Amex

Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold and base metal projects in the mining-friendly jurisdictions on Quebec and Ontario. Amex has multiple highly prospective projects: the 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 116 adjacent claims covering 4,518 hectares; the 100% owned Eastmain River gold properties consisting of 135 claims covering 7,102 hectares and the 100% owned Cameron project located in Lebel-sur-Quévillon, Quebec, comprising 263 claims covering 14,743 hectares. In addition, Amex has an option agreement to acquire a 100% interest in the Gowan Property located near the Kidd Creek Mine.

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

Forward-looking statements:

Except for statements of historical facts, all statements in this news release regarding, without limitation, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements.

Neither 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