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MONTREAL, QC / ACCESSWIRE / January 5, 2021 / Amex Exploration Inc. ("Amex or the Company") (TSXV:AMX)(FRA:MX0)(OTCQX:AMXEF) Amex is pleased to provide a review of the 2020 year.

Highlights from the year include:

  • Expanded the drill program from 100,000 m to 300,000 m going from 3 drills on site to 10 drills by mid November, making the Amex drilling campaign one of the largest and most aggressive exploration programs in Canada this year
  • Expanded all three known gold zones along strike and to depth and identified the 3.2 km long Perron Gold Corridor along the 15 km of prospective thrust faults to be explored
  • Identified high grade gold mineralization in the down to 1.1 km vertical depth at High Grade Zone (HGZ)
  • Completed metallurgical testing on the HGZ of the Eastern Gold Zone (EGZ) showing recoveries of greater than 99% for gold and silver and demonstrated a simplified gold processing flow sheet
  • Strengthened and diversified Board of Directors
  • Completed 2 financings bringing more than $24M in cash, adding cornerstone investors, ending the year in a strong financial position
  • Coverage initiated by 4 different well-known mining analysts

The Company began the year with three drills on the Perron project and ended 2020 with ten drills turning on the property. Approximately 120,000 m of drilling has been completed on the Perron project with about another 180,000 m to be completed on Perron in 2021. The drill program to date has focused on expanding the three main gold zones on the Perron project starting with the Gratien Gold Zone and the Grey Cat Gold Zone to the West and the Eastern Gold Zone to the East. Drilling has demonstrated that the property hosts at 3.2 km long Perron Gold Corridor. Regional exploration is currently under way on the 45 km2 property which host more than 15 km of major structural faults (Perron and Normetal Faults) which has seen very little drilling outside the Perron Gold Corridor. The Company is planning a significant 15,000 m regional exploration program for 2021 with a goal to identify additional gold zones at Perron. The Company began the year with three drills on the Perron project and ended 2020 with ten drills turning on the property. Approximately 120,000 m of drilling has been completed on the Perron project with about another 180,000 m to be completed on Perron in 2021. The drill program to date has focused on expanding the three main gold zones on the Perron project starting with the Gratien Gold Zone and the Grey Cat Gold Zone to the West and the Eastern Gold Zone to the East. Drilling has demonstrated that the property hosts at 3.2 km long Perron Gold Corridor. Regional exploration is currently under way on the 45 km2 property which host more than 15 km of major structural faults (Perron and Normetal Faults) which has seen very little drilling outside the Perron Gold Corridor. The Company is planning a significant 15,000 m regional exploration program for 2021 with a goal to identify additional gold zones at Perron.

Figure 1 shows the significant expansion of the Perron Gold Corridor with an emphasis on the EGZ which consists of the High Grade Zone (HGZ) and the Denise Zone.

Figure 1: Drilling Progress on the Perron Project Plan View
For enhanced image, click here

Picture1

Figure 2: Drilling Progress on the Perron Project Long Section Looking North
For enhanced image, click here

Eastern Gold Zone
During the 2020 year, Amex expanded the EGZ down to a vertical depth of 1.1 km with Hole PE-20-187 intersecting 3.85 metres of 25.04 g/t Au. Essentially, during 2020, Amex doubled the vertical extension of the HGZ. Interpretation of the HGZ now suggests that gold mineralization has been traced over 350 metres along strike, from near surface to over 1.1 km vertically and averages approximately 7 metres of width (core length). The recent deep drilling on the HGZ is continually strengthening to depth. Of particular interest is that the highest grade core of the system, (i.e. with a metal factor greater than 100 g/t Au by meter as shown in pink on Figure 2) is more than double the vertical distance at depth in comparison to the near-surface portion of the HGZ. Drilling in 2021 on the HGZ will focus on definition drilling down to the 1.0 km level for a resource calculation starting at the end of 2021 as well as continued step out drilling to expand the strike length of the system at depth.

Highlight drill results from the HGZ in 2020 include:

  • Hole PE-20-137 intersected 8.50 metres of 29.44 g/t Au at a vertical depth of approximately 570 metres (see Press Release of February 13, 2020)
  • Hole PE-20-171 intersected 9.10 metres of 44.22 g/t Au at a vertical depth of approximately 775 metres (see Press Release of July 16, 2020)
  • Hole PEM-20-001 intersected 11.80 metres of 27.70 g/t Au at a vertical depth of approximately 270 metres (see Press Release of August 5, 2020)
  • Hole PEM-20-005 intersected 15.60 metres of 32.41 g/t Au at a vertical depth of approximately 150 metres (see Press Release of August 18, 2020)
  • Hole PE-20-217 intersected 10.55 metres of 20.88 g/t Au a vertical depth of approximately 560 metres (See Press Release of December 3, 2020)

2020 also saw excellent progress on our understanding of the nearby Denise Zone which lies parallel and approximately 50 m to the south of the HGZ. Drilling at the latter part of 2020 has begun to demonstrate the potential to add significant near surface gold ounces to the project. Recent drilling has confirmed the presence of a high metal factor core of the Denise Zone within large intervals of gold mineralization as demonstrated in Hole PE-20-199 which intersected 81.50 metres of 1.51 g/t Au at a vertical depth of approximately 190 metres. Drilling has continued to encounter wide near surface gold mineralization at Denise which improves the open pit potential of the entire Eastern Gold Zone. Continuity and consistency of the gold mineralization is improving with more drilling.

Highlight drill results from the Denise Gold Zone in 2020 include:

  • Hole PE-20-181 intersected 115.60 metres of 1.39 g/t Au at a vertical depth of approximately 260 metres (see Press Release of September 16, 2020)
  • Hole PE-20-188 intersected 189.40 metres of 1.07 g/t Au at a vertical depth of approximately 300 metres (see Press Release of September 16, 2020)
  • Hole PE-20-192 intersected 39.55 metres of 9.36 g/t at a vertical depth of approximately 225 metres (see Press Release of October 21, 2020)
  • Hole PE-20-199 intersected 81.50 metres of 1.51 g/t Au at a vertical depth of approximately 190 metres (See Press Release of December 17, 2020)
  • Hole PE-20-204 intersected 187.00 metres of 0.66 g/t Au at a vertical depth of approximately 180 metres (See Press Release of December 17, 2020)

The Company also completed metallurgy testing at the HGZ to illustrate the ease of recovery of the gold at Perron. Results demonstrated exceptional gold and silver recovery (+99%) using a 3-stage processing technique (gravity, flotation, and cyanidation). The Phase 2 metallurgy program determined that very high gold (+99%) and silver (89.5%) recoveries could be achieved using a simplified 2 stage process that eliminates floatation. Additional metallurgy testing is planned for the other gold zones at Perron following such exceptional recovery rates at the HGZ.

Gratien and Grey Cat Gold Zones
During the year Amex reported near surface gold mineralization on both the Gratien and Grey Cat Gold Zones and confirmed the open pit mining potential of Grey Cat. During 2020 Amex was successful in expanding and defining the near surface mineralization of both zones. Drilling is focused on defining the Gratien to approximately 250 metres vertical depth and while testing the depth of Grey Cat to approximately 500 metres vertically. The Grey Cat appears to have a high-grade core that dips at approximately 60 degrees to the East, similar to the Eastern Gold Zone.

Significant intercepts at Grey Cat included 1.22 g/t Au over 39.00 metres in hole PEG-20-143 at a vertical depth of approximately 80 metres as well as 4.54 g/t Au over 10.30 metres in hole PEG-20-150 at a vertical depth of approximately 70 metres. Mineralization is very planar and occurs in a single lens easily identifiable in three dimensions and simple to target.

Victor Cantore, CEO commented, "The drill results on the Perron Project for 2020 have exceeded our expectations. Our understanding of the mineralization and geology of the project has improved substantially throughout the year providing for a solid basis to develop the Perron Project to its fullest potential. I look forward to another year of continued drilling success, thanks to the great team we have in place."

Corporate Update
Amex recognizes the value of diversity in deliberation and took a number of steps to strengthen its Board by welcoming two new Board members in 2020, Mr. Bryan Coates and Ms. Anik Gendron. Both Bryan and Anik have played an active role on the Amex Board offering strategic insight to the management team over the past year.

From a financial perspective, Amex has never been stronger, ending the year with approximately $32 million in available cash, making the Company fully funded for its exploration program for 2021. During 2020 Amex also added cornerstone investor along side Mr. Eric Sprott, who increased his position and participated in each financing. Various well respected institutions from Canada, United States, Europe and the United Kingdom all participated in the 2020 financings. The shareholder profile of Amex shifted from primarily retail investors to institutional holders in 2020. Accordingly, the stock reflected the achievements of the Amex team and delivered a very strong performance and outperformed its peers. See Figure 3 below.

Figure 3: Stock chart showing Amex performance from January 1, 2019 to December 31, 2020 relative to high performing peers - AMX shown in bold black below
For enhanced image, click here

Cantore continued, "I am proud to say that each financing that we have completed since 2018 has been done at successively higher issue prices, thereby limiting the shareholder dilution while converting the capital raised into exponentially higher market cap value. This has been achieved through prudent financings and targeted exploration which has delivered exceptional results. Our management team are all shareholders of Amex and our interest are very much aligned with our shareholder base. As I look to 2021, I am confident in our exploration program, our leadership team and our ability to deliver results in this strong gold market."

Looking Forward to 2021
Amex intends to complete the balance of the drilling program which will take the majority of the year until the fall of 2021 at which time the Company will initiate a property wide NI43-101 compliant resource calculation. In addition, the technical team has identified several potential additional gold bearing structures outside the three known gold zones during its regional exploration program. Follow up drilling on these new structures will be part of the drill program in 2021 to determine if they constitute new gold zones.

Jacques Trottier, PhD Executive Chairman of Amex said, "I am excited to resume the year with an ambitious 10 drill program that aims to build ounces within the Perron Gold Corridor while discovering new gold zones on the property. With the benefit of having made several gold discoveries using predictive modeling and structural geology as our guide, I believe that Perron has much untapped potential that will be demonstrated in the coming year."

Qualified Person
Maxime Bouchard P.Geo. M.Sc.A., (OGQ 1752) and Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), Independent Qualified Persons as defined by Canadian NI 43-101 standards, have reviewed and approved the geological information reported in this news release. The drilling campaign and the quality control program have been planned and supervised by Maxime Bouchard and Jérôme Augustin. Core logging and sampling were completed by Laurentia Exploration. The quality assurance and quality control protocol include insertion of blank or standard every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard samples accredited by Laboratoire Expert during the analytical process. Gold values are estimated by fire assay with finish by atomic absorption and values over 3 ppm Au are reanalyzed by fire assay with finish by gravimetry by Laboratoire Expert Inc, Rouyn-Noranda. Samples containing visible gold mineralization are analyzed by metallic sieve. For additional quality assurance and quality control, all samples were crushed to 90% less than 2 mm prior to pulverization, in order to homogenize samples which may contain coarse gold. Core logging and sampling were completed by Laurentia Exploration.

The Qualified Persons have not completed sufficient work to verify the historic information on the Property, particularly in regards to historical drill results. 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 Property but may not be representative of expected results.

About Amex
Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold projects in the mining-friendly jurisdiction of Quebec. Amex is focused on its 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 116 contiguous claims covering 4,518 hectares. A number of significant gold discoveries have been made at Perron, including the Eastern Gold Zone, the Gratien Gold Zone, the Grey Cat Zone, and the Central Polymetallic Zone. High-grade gold has been identified in each of the zones. A significant portion of the project remains underexplored. In addition to the Perron project, the company holds a portfolio of three other properties focused on gold and base metals in the Abitibi region of Quebec and else where in the province.

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

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

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

SOURCE: Amex Exploration Inc.

MONTREAL, QC / ACCESSWIRE / January 7, 2021 / Amex Exploration Inc. ("Amex or the Company") (TSXV:AMX)(FRA:MX0)(OTCQX:AMXEF) wishes to provide an update on its exploration activities relative to the recent COVID 19 restrictions announced by the Government of Quebec on January 6, 2021. At this time, Amex Exploration's mineral exploration activities on its 100% owned Perron property continues with 10 drill rigs in operation. The health and safety of the staff at site, and the community in which the Company operates, is of paramount importance to Amex. The Company continues its operations with strict health measures in place and is adhering to the sanitary recommendations for the mining industry from the public health experts.

In addition, the Company is currently waiting on assay results from 9,000 samples completed in 2020. The Company also wishes to report visible gold has been intersected in drills holes each day since drilling resumed on January 4, 2021.

Qualified Person

Maxime Bouchard P.Geo. M.Sc.A., (OGQ 1752) and Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), Independent Qualified Persons as defined by Canadian NI 43-101 standards, have reviewed and approved the geological information reported in this news release. The drilling campaign and the quality control program have been planned and supervised by Maxime Bouchard and Jérôme Augustin. Core logging and sampling were completed by Laurentia Exploration. The quality assurance and quality control protocol include insertion of blank or standard every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard samples accredited by Laboratoire Expert during the analytical process. Gold values are estimated by fire assay with finish by atomic absorption and values over 3 ppm Au are reanalyzed by fire assay with finish by gravimetry by Laboratoire Expert Inc, Rouyn-Noranda. Samples containing visible gold mineralization are analyzed by metallic sieve. For additional quality assurance and quality control, all samples were crushed to 90% less than 2 mm prior to pulverization, in order to homogenize samples which may contain coarse gold. Core logging and sampling were completed by Laurentia Exploration.

The Qualified Persons have not completed sufficient work to verify the historic information on the Property, particularly in regards to historical drill results. 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 Property but may not be representative of expected results.

About Amex

Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold projects in the mining-friendly jurisdiction of Quebec. Amex is focused on its 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 116 contiguous claims covering 4,518 hectares. A number of significant gold discoveries have been made at Perron, including the Eastern Gold Zone, the Gratien Gold Zone, the Grey Cat Zone, and the Central Polymetallic Zone. High-grade gold has been identified in each of the zones. A significant portion of the project remains underexplored. In addition to the Perron project, the company holds a portfolio of three other properties focused on gold and base metals in the Abitibi region of Quebec and else where in the province.

For further information please contact:

Victor Cantore
President and Chief Executive Officer
Amex Exploration: +1-514-866-8209

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

Forward-looking statements:

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

SOURCE: Amex Exploration Inc.

MONTREAL, QC / ACCESSWIRE / January 7, 2021 / Amex Exploration Inc. ("Amex or the Company") (TSX-V: AMX, FRA: MX0, OTCQX: AMXEF) wishes to provide an update on its exploration activities relative to the recent COVID 19 restrictions announced by the Government of Quebec on January 6, 2021 (previously stated January 6, 2020). At this time, Amex Exploration's mineral exploration activities on its 100% owned Perron property continues with 10 drill rigs in operation. The health and safety of the staff at site, and the community in which the Company operates, is of paramount importance to Amex. The Company continues its operations with strict health measures in place and is adhering to the sanitary recommendations for the mining industry from the public health experts.

In addition, the Company is currently waiting on assay results from 9,000 samples completed in 2020. The Company also wishes to report visible gold has been intersected in drill holes each day since drilling resumed on January 4, 2021 (previously stated January 4, 2020).

Qualified Person

Maxime Bouchard P.Geo. M.Sc.A., (OGQ 1752) and Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), Independent Qualified Persons as defined by Canadian NI 43-101 standards, have reviewed and approved the geological information reported in this news release. The drilling campaign and the quality control program have been planned and supervised by Maxime Bouchard and Jérôme Augustin. Core logging and sampling were completed by Laurentia Exploration. The quality assurance and quality control protocol include insertion of blank or standard every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard samples accredited by Laboratoire Expert during the analytical process. Gold values are estimated by fire assay with finish by atomic absorption and values over 3 ppm Au are reanalyzed by fire assay with finish by gravimetry by Laboratoire Expert Inc, Rouyn-Noranda. Samples containing visible gold mineralization are analyzed by metallic sieve. For additional quality assurance and quality control, all samples were crushed to 90% less than 2 mm prior to pulverization, in order to homogenize samples which may contain coarse gold. Core logging and sampling were completed by Laurentia Exploration.

The Qualified Persons have not completed sufficient work to verify the historic information on the Property, particularly in regards to historical drill results. 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 Property but may not be representative of expected results.

About Amex

Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold projects in the mining-friendly jurisdiction of Quebec. Amex is focused on its 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 116 contiguous claims covering 4,518 hectares. A number of significant gold discoveries have been made at Perron, including the Eastern Gold Zone, the Gratien Gold Zone, the Grey Cat Zone, and the Central Polymetallic Zone. High-grade gold has been identified in each of the zones. A significant portion of the project remains underexplored. In addition to the Perron project, the company holds a portfolio of three other properties focused on gold and base metals in the Abitibi region of Quebec and elsewhere in the province.

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

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

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

SOURCE: Amex Exploration Inc.

MONTREAL, QC / ACCESSWIRE / January 25, 2021 / Amex Exploration Inc. ("Amex or the Company") (TSXV:AMX)(FRA:MX0)(OTCQX:AMXEF) is pleased to announce the discovery of a new high-grade gold structure by drilling an intersection returning 31.87 g/t Au over 5.10 metres on a new target area on its flagship Perron property (Table 1). The drill intersection is located approximately 650 metres north-west of the High Grade Zone (HGZ) and 500 metres north-east of the Grey Cat Zone (GCZ) that represents a new gold-bearing area on the property, as shown in Figures 1 and 2.

Jacques Trottier, PhD Executive Chairman of Amex said, "This new high-grade gold area is a game changer for the Perron project. This discovery demonstrates the tremendous upside of the Perron Property as it lies in an area that we had interpreted as being highly perspective but till now had remained untested. There are many more such targets on the Perron property."

Trottier continued, "This discovery also clearly shows that not only are the main structural contacts of the Beaupré Rhyolite Bloc (BRB) (namely the Normetal Fault to the North and the Perron Fault to the South), gold mineralized structures, but also many of the other major structural features located inside the BRB may also be gold bearing. That by itself is major milestone and has very positive implications for the Perron Project."

The gold mineralization encountered in diamond drillhole PEX-21-041 is associated with quartz veining, quartz-carbonate breccias, silica flooding and strong chlorite-carbonates-biotite alterations, as shown in figure 3. Occurrence of sphalerite, pyrite and traces of chalcopyrite are observed together with a significant amounts of visible native gold grains within the gold-bearing structures. The veining and silicified intervals shows several changes in core axes indicating that the area is possibly folded. As for the HGZ and the GCZ, this new gold interval intersected in hole PEX-21-041 is located at the margin of an enclosed mafic body hosted in the Beaupré rhyolite. The orientation of the intersected gold bearing structures are unknown as there is only a single pierce point.

Hole PEX-21-041 was drilled to test perturbed east-west magnetic lineament that was expected to be a demagnetized mafic intrusive inside the Beaupré Block (Figure 2). Amex consulting geologists are planning an aggressive follow-up drilling program around PEX-21-041 to search for the extension and to better understand the geometry of this new mineralized gold structure.

As a reminder Amex is currently drilling a fully funded 300,000 m drill program with 10 drill rigs in operation at the Perron Property, with a focus on the Eastern Gold Zone, comprising of the High Grade Zone and the Denise Zone. Of these 10 rigs two drill rigs are now assigned to exploration follow up of this new discovery target.

Table 1: Assay Results from DDH PEX-21-041

Hole ID

From (m)

To (m)

Length (m)

Au (g/t)

Zone

Vertical depth

PEX-21-041

288.60

295.90

7.30

22.44

New

200m

Including

288.60

293.70

5.10

31.87

Including

290.70

293.70

3.00

53.09

Including

288.60

289.10

0.50

6.28

Including

290.70

291.20

0.50

9.05

Including

291.20

291.70

0.50

19.25

Including

291.70

292.20

0.50

12.64

including

292.20

292.70

0.50

239.91

including

292.70

293.20

0.50

5.96

including

293.20

293.70

0.50

31.75

* Note that drill results are presented uncapped and lengths represent core lengths. True length can't be estimated with only one intersection.

Figure 1: Geology of the Perron Project and Location of the Gold Zone and New Discovery. (For enhanced image, click here)

Figure 2: Tilt Derivate of 2019 Drone MAG Survey and Location of New Discovery from Diamond Drill hole PEX-21-041. (For enhanced image, click here)

Figure 3: Photography of the Drill Core from PEX-21-041; A) General View of the Intersection with Grade Distribution and Lithology; B) Quartz-Carbonates breccia with Sphalerite, Pyrite and Visible Gold (VG); C) Visible Gold in Association with Sphalerite; D) Visible Gold in Association with Pyrite; E) Visible Gold in Association with Sphalerite. (For enhanced image, click here)

Qualified Person

Maxime Bouchard P.Geo. M.Sc.A., (OGQ 1752) and Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), Independent Qualified Persons as defined by Canadian NI 43-101 standards, have reviewed and approved the geological information reported in this news release. The drilling campaign and the quality control program have been planned and supervised by Maxime Bouchard and Jérôme Augustin. Core logging and sampling were completed by Laurentia Exploration. The quality assurance and quality control protocol include insertion of blank or standard every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard samples accredited by Laboratoire Expert during the analytical process. Gold values are estimated by fire assay with finish by atomic absorption and values over 3 ppm Au are reanalyzed by fire assay with finish by gravimetry by Laboratoire Expert Inc, Rouyn-Noranda. Samples containing visible gold mineralization are analyzed by metallic sieve. For additional quality assurance and quality control, all samples were crushed to 90% less than 2 mm prior to pulverization, in order to homogenize samples which may contain coarse gold. Core logging and sampling were completed by Laurentia Exploration.

The Qualified Persons have not completed sufficient work to verify the historic information on the Property, particularly in regards to historical drill results. 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 Property but may not be representative of expected results.

About Amex

Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold projects in the mining-friendly jurisdiction of Quebec. Amex is focused on its 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 116 contiguous claims covering 4,518 hectares. A number of significant gold discoveries have been made at Perron, including the Eastern Gold Zone, the Gratien Gold Zone, the Grey Cat Zone, and the Central Polymetallic Zone. High-grade gold has been identified in each of the zones. A significant portion of the project remains underexplored. In addition to the Perron project, the company holds a portfolio of three other properties focused on gold and base metals in the Abitibi region of Quebec and else where in the province.

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

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

Forward-looking statements:

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

SOURCE: Amex Exploration Inc.

MONTREAL, QC / ACCESSWIRE / January 28, 2021 / Amex Exploration Inc. ("Amex or the Company") (TSXV:AMX)(FRA:MX0)(OTCQX:AMXEF) is pleased to announce it has been named to the 2021 OTCQX® Best 50, a ranking of top performing companies traded on the OTCQX Best Market last year. Amex ranked number 12 out of 50 companies in various business sectors.

The OTCQX Best 50 is an annual ranking of the top 50 U.S. and international companies traded on the OTCQX market. The ranking is calculated based on an equal weighting of one-year total return and average daily dollar volume growth in the previous calendar year. Companies in the 2021 OTCQX Best 50 were ranked based on their performance in 2020.

Victor Cantore President and CEO of Amex Exploration commented, "We are pleased to be included in the OTCQX Best 50. Our US shareholders are an important group and having an active listing is an important part of our market awareness strategy. With an ongoing program of 300,000 metres of drilling, Amex has one of the largest active drill programs of any junior mining company and we look forward to providing our shareholders with a steady flow of updates and drill results as we receive and interpret them."

For the complete 2021 OTCQX Best 50 ranking, visit : https://www.otcmarkets.com/files/2021_OTCQX_Best_50.pdf

The OTCQX Best Market offers transparent and efficient trading of established, investor-focused U.S. and global companies. To qualify for the OTCQX market, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

About Amex

Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold projects in the mining-friendly jurisdiction of Quebec. Amex is focused on its 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 116 contiguous claims covering 4,518 hectares. A number of significant gold discoveries have been made at Perron, including the Eastern Gold Zone, the Gratien Gold Zone, the Grey Cat Zone, and the Central Polymetallic Zone. High-grade gold has been identified in each of the zones. A significant portion of the project remains underexplored. In addition to the Perron project, the company holds a portfolio of three other properties focused on gold and base metals in the Abitibi region of Quebec and elsewhere in the province.

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

Forward-looking statements:

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

SOURCE: Amex Exploration Inc.

MONTREAL, QC / ACCESSWIRE / February 17, 2021 / Amex Exploration Inc. ("Amex or the Company") (TSXV:AMX)(FRA:MX0)(OTCQX:AMXEF) is pleased to report the discovery of an additional high grade gold structure and results from several holes targeting the depth extension of the High Grade Zone (HGZ) of the Eastern Gold Zone (EGZ). Watch this video clip to hear a brief explanation of today's results from Kelly Malcom, VP Exploration. https://youtu.be/HesYvCSAcA4

As a reminder, the EGZ is comprised of two gold zones, High Grade Zone, a continuous high grade gold system which is immediately north of the Denise Zone (Denise), as shown in Figure 1. In addition, while targeting the depth extension of the HGZ, Amex intersected near-surface high grade gold mineralization in a new gold structure proximal to the Normetal fault zone. This interval, which returned 58.25 g/t over 3.90 m, is spatially and likely structurally related to an intersection of 2.75 g/t Au over 2.80 m drilled by former optionee in 2016, as well as visible gold mineralization in nearby recently drilled hole PE-20-229 for which assays are still pending.

The newly named 210 Gold Zone is located proximal to the northern Normetal fault zone, which is one of two kilometric thrust faults located on the Perron project. The intersection of 58.25 g/t Au over 3.90 metres in hole PE-20-210 is located approximately 680 m north-east of the HGZ in an area that has seen limited exploration. Of note, drillhole 163-16-033 completed by former optionee intersected 2.75 g/t Au over 2.80 metres which is located 200 metres to the East, and a follow-up hole to PE-20-210, PE-20-229 has intersected visible gold along the same plane, as shown in Figure 2. Amex has recently received permits to conduct a follow up drilling program and is currently drilling along strike of this newly discovered high grade gold mineralization.

In addition, today's HGZ results significantly confirm continuity of the HGZ and increase the strike of the high grade intervals of gold mineralization over meaningful widths along the Eastward plunge of the mineralized structure. Highlights are detailed below, and a complete list of results is available in Table 1 and presented in Figure 3. In addition to the results detailed below, Amex is waiting on over 13,000 samples at the lab from holes targeting the HGZ, Denise, and Grey Cat Zone, as well as regional exploration drilling.

  • Hole PE-20-210 intersected:
    • 58.25 g/t Au over 3.90 metres, including 412.30 g/t Au over 0.50 metres, in the newly named 210 Gold Zone at a vertical depth of approximately 110 metres;
    • 19.08 g/t Au over 3.00 metres in an area situated between the 210 Zone and the HGZ;
    • 10.12 g/t Au over 3.50 metres in the HGZ at a vertical depth of approximately 1,250 metres.
  • Hole PE-197W1 intersected:
    • 11.95 g/t Au over 6.00 m in the HGZ at a vertical depth of approximately 965 metres.
  • Hole PE-20-197W2 intersected:
    • 8.71 g/t Au over 5.30 m in the HGZ at a vertical depth of approximately 925 metres.
  • Hole PE-20-207W2 intersected:
    • 33.0 g/t Au over 4.50 m, including 225.40 g/t Au over 0.50 m, in the HGZ at a vertical depth of approximately 830 metres.

Jacques Trottier, PhD, Executive Chairman of Amex said, "Perron is significantly underexplored as evidenced by our recent discoveries of the 210 Zone as well as the recently announced high-grade interval in drillhole PEX-21-041. With 10 drills turning on Perron, including 4 drills dedicated to pure exploration, making new discoveries at this rapid pace is likely and we are very pleased with our exploration targeting methodology. In addition to the newly discovered mineralization, expansion and definition drilling at the HGZ continues to yield high grade gold over considerable thicknesses. We are waiting on several thousand additional samples from our drilling program and are looking forward to receiving and releasing to the market as soon as possible."

Figure 1: Geology of Perron Project and Gold Zones, as well as recently announced discoveries including the 210 Zone and hole PEX-21-041. For enhanced image, click here

Figure 2: Plan Map of the 210 Zone and proximal intersections. For enhanced image, click here

 

Figure 3: Longitudinal Section of the HGZ looking South. For enhanced image, click here

Table 1: Assay Results from the EGZ and 210 Zone.

Hole ID

From (m)

To (m)

Length (m)

Au (g/t)

Zone

PE-20-197W1

1066.00

1072.00

6.00

11.95

HGZ

Including

1066.00

1066.65

0.65

107.63

PE-20-197W2

1033.70

1039.00

5.30

8.71

HGZ

Including

1036.00

1037.00

1.00

16.72

Including

1037.00

1038.10

1.10

25.29

PE-20-207

948.75

955.15

6.40

1.71

HGZ

Including

954.65

955.15

0.50

8.16

AND

1081.00

1111.90

30.90

0.56

Denise Zone

Including

1092.25

1093.75

1.50

3.60

Including

1108.00

1108.90

0.90

2.47

PE-20-207W1

920.80

928.00

7.20

0.29

HGZ

Including

926.50

927.25

0.75

1.27

PE-20-207W2

902.50

907.00

4.50

32.99

HGZ

Including

902.50

903.00

0.50

64.58

Including

903.75

904.25

0.50

225.40

PE-20-210

108.80

112.70

3.90

58.25

210 Zone

Including

111.20

111.70

0.50

412.30

AND

330.50

333.50

3.00

19.08

unknown

Including

331.90

332.40

0.50

97.07

AND

1345.65

1349.15

3.50

10.12

HGZ

Including

1347.15

1347.65

0.50

61.97

* Note that drill results are presented uncapped and lengths represent core lengths. True width is estimated to be ~75% in the HGZ. True widths at the 210 Zone are currently unknown.

Qualified Person

Maxime Bouchard P.Geo. M.Sc.A., (OGQ 1752) and Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), Independent Qualified Persons as defined by Canadian NI 43-101 standards, have reviewed and approved the geological information reported in this news release. The drilling campaign and the quality control program have been planned and supervised by Maxime Bouchard and Jérôme Augustin. Core logging and sampling were completed by Laurentia Exploration. The quality assurance and quality control protocol include insertion of blank or standard every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard samples accredited by Laboratoire Expert during the analytical process. Gold values are estimated by fire assay with finish by atomic absorption and values over 3 ppm Au are reanalyzed by fire assay with finish by gravimetry by Laboratoire Expert Inc, Rouyn-Noranda. Samples containing visible gold mineralization are analyzed by metallic sieve. For additional quality assurance and quality control, all samples were crushed to 90% less than 2 mm prior to pulverization, in order to homogenize samples which may contain coarse gold. Core logging and sampling were completed by Laurentia Exploration.

The Qualified Persons have not completed sufficient work to verify the historic information on the Property, particularly in regards to historical drill results. 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 Property but may not be representative of expected results.

About Amex

Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold projects in the mining-friendly jurisdiction of Quebec. Amex is focused on its 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 116 contiguous claims covering 4,518 hectares. A number of significant gold discoveries have been made at Perron, including the Eastern Gold Zone, the Gratien Gold Zone, the Grey Cat Zone, and the Central Polymetallic Zone. High-grade gold has been identified in each of the zones. A significant portion of the project remains underexplored. In addition to the Perron project, the company holds a portfolio of three other properties focused on gold and base metals in the Abitibi region of Quebec and elsewhere in the province.

For further information please contact:

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

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

Forward-looking statements:

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

SOURCE: Amex Exploration Inc.