MONTREAL, Canada, October 28, 2014 – Amex Exploration Inc. (AMX: TSX-V) announces that in light of the changes in the Mexican mining tax laws and change in the required exploration expenditures it is considering strategic alternatives for its Mexican properties. The recent changes have created huge financial burdens for any operation, including existing option agreements that are presently under contract.
The Properties, which are well located in the productive Sierra Madre gold belt of Mexico in the State of Sonora, cover an area of over 30,000 hectares.
Further to this news, Amex will conduct a detailed review of its Mexican Assets; Chivas (Natora), El Paramo and 100% owned Nueva Escondida property located in the state of Sonora. Jacques Trottier, PhD, President and CEO of Amex stated: “Taking into consideration the economic downturn we are presently faced with within this industry, we will do our upmost to look into all of the possibilities for these assets, which may include seeking new partners or even divesting of the Mexicain assets so we can concentrate on our Quebec flagship projects, namely Perron (under option by Agnico Eagle Mines Ltd-see PR 2013-06-21), Normetal, and Cameron properties.
Amex Exploration Inc. is a junior mining exploration company listed on the TSX Venture Exchange whose primary objective is to develop and bring into production viable gold and base metal deposits.
For additional information, contact:
Jacques Trottier, PhD
President and Chief Executive Officer
Tel.: (514) 866-8209
Except for statements of historical facts, all statements in this news release regarding, without limitation, new project acquisitions, 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.