amex exploration

Amex Exploration

Montreal, January 8th, 2015 – Amex Exploration Inc. (TSXV: AMX) (“Amex” or the “Corporation”) is very pleased to announce that a new polymetallic gold-bearing structure has been identified during the second phase of drilling on Amex’s Perron property executed in 2014 under the option agreement with Agnico Eagle Mines Ltd “Agnico Eagle” (TSX: AEM, NYSE: AEM) (see press release of June 21, 2013 for details on the option agreement terms and conditions).

This new structure, that returned values of 4,55 g/t Au, 20,9 g/t Ag, 0,21% Cu and 0,14% Zn over 1,5 meters, is located at some 250 meters east and 100 meters deeper than Amex initial discovery hole PE-13-03   ( 3,84 g/t Au, 23.0 g/t Ag, 0,10%Cu and 1,4% Zn over 15,2 m; see PR2013-03-04). Geologically speaking, it bears the same type of alteration and mineralization as recognized by Amex in its discovery hole PE-2013-03 that consists of semi massive sulfide stockwork hosted by a garnet bearing rhyolite volcanic unit. As for the mineralized structure in hole PE-2013-03, this new mineralization is interpreted as a synvolcanic feeder zone that is also oriented NE-SW, hence crosscutting at about a right angle to the general stratigraphic orientation of the volcanic sequences.

According to Amex’s president and CEO Jacques Trottier, PhD, “The recognition of a second mineralized feeder zone, typically associated with gold-rich polymetallic VMS deposits, confirms that the Perron Property has the potential to become the host of more than one single deposit, but also a new mining district for this type of deposit. Obviously, we are still at a very early stage in the understanding of this district and a lot of additional exploration work, including an intensive drilling campaign, will be needed just to confirm the existence of a single mineralized body. But, in my opinion, all the good ingredients are already there!”.

This information was contained in the Agnico Eagle Report on the Perron 2014 Exploration Program that was recently presented to Amex. During 2014, four holes totalling 2112 meters of drilling were completed on the property. The main objective of this relatively short drill campaign was to test the lithostratigraphic potential at the contact between two favourable horizons, namely the V1-V2 contact (for polymetallic VMS gold rich mineralization) and the 6a-7 Rhyolitic anomalous gold bearing horizon as described in PR2014-01-30. These four holes were drilled on a spacing of about 350 and 550 meters covering an east-west strike length of about 1, 2 km. Even though the distance between holes was significant, each hole did intersect gold mineralization with values up to 35,8 g/t Au, 9,1 g/t Ag and 0, 45% Zn over 0,7 meter (see Table 1 for more results).

Table 1: Results from 2014 drilling program.

Hole

From 

to

Length (m)

Au (ppm)

Ag (ppm)

Cu (ppm)

Zn (ppm)

163-14-004

603.5

609.0

5.5

0.51

0.73

11

282

incl.

603.5

604.0

0.5

2.26

4.00

28

167

and inlc.

608.0

609.0

1.0

1.25

0.50

7

126

 

660.6

662.1

1.5

4.55

20.93

2123

1444

incl.

660.6

661.1

0.5

11.35

58.20

5450

972

 

719.5

721.0

1.5

3.03

570.00

9

27

163-14-005

243.0

247.0

4.0

0.44

0.95

290

83

incl.

243.0

244.0

1.0

1.15

3.20

968

120

 

439.8

440.5

0.7

35.80

9.10

20

4470

163-14-006

31.0

41.0

10.0

0.3

0.25

5

38

 

93.7

96.7

3.0

0.41

0.10

9

16

163-14-007

143.5

152.5

9.0

0.12

0.10

2

10

 

202.0

203.3

1.3

1.38

0.50

7

189

 

284.5

291.5

7.0

0.12

0.26

7

55

Note: 4 drill holes totalling 2112 meters have been drilled in 2014. Geochemical analysis was executed by ALS Chemex Laboratories in Val d’Or under Agnico Eagle QA/QC program and supervision.

Besides this major highlight from this drilling campaign, it is also now interpreted that the high grade polymetallic gold-rich sulphide mineralization intersected by Amex in its discovery hole PE-2013-03 (see press release of March 4, 2013) is potentially located in close relationship with a synvolcanic fault that could be genetically related to the encountered alteration and mineralization. The identification of such an environment in hole PE-2013-03 is consistent with a typical gold-rich VMS (volcanogenic massive sulphide) deposit in the DBL (Dumagami-LaRonde-Bousquet) mining camp in the Quebec Abitibi greenstone Belt.

Jacques Trottier, PhD, President and CEO of Amex Exploration comments, “We are very pleased with Agnico Eagle’s work done so far on our Perron Property. From their work and expertise, various gold target types have been identified and should be further tested in a follow-up exploration program still to be confirmed and announced. I look forward to seeing the exploration work resuming there as soon as possible in 2015.”

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. Jacques Trottier, PhD Geol, Qualified Person as defined by Canadian N43-101 has approved the technical information reported in this news release.

For further information please contact Jacques Trottier, at 514-866-8209.

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, January 20th, 2015 – Amex Exploration Inc. (TSXV: AMX) (“Amex” or the “Corporation”) is very pleased to announce that Agnico Eagle Mines Ltd (TSX: AEM, NYSE: AEM) has just started its 2015 exploration work program on Amex’s Perron property.

This new phase of work consists of about 5000 meters of drilling to be executed with two diamond drill rigs that will be mobilized in the coming days. This new phase of work will test various targets that were outlined by previous phases of drilling and last year’s airborne geophysical survey that covered the entire Perron property.

To achieve this, 13 drill holes have been proposed to evaluate different potential mineralized areas, namely, first in the vicinity of Amex initial discovery hole PE-2013-03, second as a follow up of new polymetallic gold-bearing structure in hole #163-14-004 that has been identified in 2014 drilling (see PR of January 8th, 2015), and third on new never drilled airborne geophysical anomalies identified last year and that are located within the Normetal Mine Horizon. This specific geological unit, that can be followed over a strike length of 8 km within the Perron Property, is the host of several polymetallic VMS deposit including former producer Normetal Mine (lifetime production of 10.1 MT @ 2,15% Cu, 5,12% Zn, 0,55 g/t Au and 45.25 g/t Ag) and was never been drilled previously by Amex.

This new phase of drilling, scheduled to start next week and to be completed by the end of March 2015, is under the terms and conditions of the second year of the Perron option agreement with Agnico Eagle that was signed in 2013 (see PR of June 21, 2013 for details on the option agreement terms and conditions).

Jacques Trottier, PhD, President and CEO of Amex Exploration comments, “We are glad with the fact that this new 2015 work program has been started at the very beginning of the year and also very enthusiastic to see that, in addition to follow-up drill holes based on previous drilling results, there will be some drilling done also on new geophysical targets that have never been tested previously as they were identified just last year from a new airborne survey.”

For further information please contact Jacques Trottier, at 514-866-8209.

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 20, 2015 – Amex Exploration Inc. (AMX: TSX-V) announces the acquisition of three properties that consist of 79 claims totalling 4,227 hectares by way of map staking in the Eeyou Istchee Territory, James Bay, Québec.

The 3 new properties will be referred as:

Lac Indicateur                        24 claims         1,279 hectares

Eastmain Centre         40 claims         2,160 hectares

Eastmain North          15 claims            788 hectares

All these properties are located approximately 300 km north of the town of Chibougamau, Quebec. The whole area is part of Quebec’s Government ¨Plan Nord¨ and is readily accessible from Chibougamau by the new 243-kilometer-long all-season road to Stornoway’s Renard diamond mine (route 167 extension).

Jacques Trottier, Amex’s President states: “We are quite pleased to have been able to stake these new claims in an area which until very recently had no easy access, and consequently, underexplored. In fact, this region is now subject to new extensive exploration work done by other junior exploration companies, some with impressive results!. We are anxious to start our own exploration program that should be elaborated and implemented in the next coming months!”

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

Forward-looking statements:

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.

Montreal, Canada; June 16th, 2015 – Amex Exploration Inc. (TSXV: AMX) (“Amex” or the “Corporation”) is very pleased to announce that Agnico Eagle Mines Ltd (TSX:AEM,NYSE:AEM) has presented the results of its 2015 winter drilling work program on Amex’s Perron property. This program is under the terms and conditions of the second year of the Perron option agreement that was signed in 2013 (see PR of June 21, 2013 for details on the option agreement terms and conditions).

The three different objectives of this phase of drilling returned positive results (see below and Table 1), but the highlight of this work is the discovery of a new unknown polymetallic mineralization that returned 2.23 % Cu, 0.11% Zn, 8.30 g/t Ag and 0.20 g/t Au over 1.0 meter within the Normetal Mine Horizon (NMH). This mineralization is hosted within a highly chloritized stratabound unit of tuffeceous material located between a unit of rhyolite and a unit of andesite of the NMH at the same stratigraphic position of the former producer Normetal Mine (historical lifetime production of 10.1 MT @ 2.15% Cu, 5.12% Zn, 0.55 g/t Au and 45.25 g/t Ag) situated at less than 3 km to the East of the property.

Winter 2015 drill program and results

As a whole, this latest phase of work consisted of 13 drill holes totalling 4,846 meters of drilling that has been executed with two diamond drill rigs between January and April 2015. Three distinct types of targets were identified with this work based on the previous phases of drilling and last year’s airborne geophysical survey that covered the entire Perron property (see PR 2015-01-19).

The three target areas are:

First, in the vicinity of Amex initial discovery hole PE-2013-03 drilled by Amex in 2013, and a follow up of new polymetallic gold-bearing structure in hole #163-14-004 that has been identified in 2014 drilling (see PR of January 8th, 2015).

Second, to test the lateral potential contact between the Rhyolite unit and the Andesite unit of the Beaupre bloc, host of the known Perron polymetallic mineralization, on a large spacing grid.

Third, on new airborne geophysical anomalies identified last year that have never been drilled before and that are located within the Normetal Mine Horizon. This specific geological unit, located at some 0.5 km to 1.0 km to the North of the Rhyolite-Andesite contact of the Beaupre Bloc, can be followed over a strike length of 8 km within the Perron Property. This unit, which has never been drilled previously by Amex, is the host of several polymetallic VMS deposit including the former Normetal Mine.

Overall, three drill holes were drilled in the vicinity of the initial Perron Polymetallic Mineralization (Target 1; namely holes 163-15-008, 012 and 020), five following the favourable Rhyolite-Andesite contact of the Beaupré bloc (Target 2 ; from West to East; holes 163-15-017, 018, 021, 013and 011) and finally five holes on the Normetal Mine Horizon (Target 3;  from East to West; holes 163-15-009, 010, 015, 019 and 014).(see figure 1 for location and Table 1 for results).

Screen Shot 2015-06-16 at 20.40.16

Target 1: Vicinity of initial Perron Polymetallic discovery

 Two out of three holes (i.e. 163-15-012 and 020) were drilled perpendicular to the discovery hole PE-2013-03 in order to better understand the geometry and the continuity of the now interpreted as a typical polymetallic VMS stockwerk zone made of veins and veinlets of almost semi-massive sulfides (mostly sphalerite, chalcopyrite and pyrite/pyrrhotite) associated with highly altered rhyolite with a significant content of Manganese-bearing porphyroblasts of garnets.

The two holes intersected the overall stockwork structure at different locations and depths, but with expected narrower intervals with values of up to 2.70 g/t Au, 18.95 g/t Ag, 1.38% Zn and 0.07% Cu over 3.9 meters including 0.5 meter at 13.25 g/t Au, 99.60 g/t Ag, 4.22% Zn and 0.12% Cu in hole 163-15-012 and 1.79 g/t Au, 7.84 g/t Ag, 0.17% Zn and 0.10% Cu over 12.0 meters including 0.8 meter at 15.80 g/t Au, 17.30 g/t Ag 0.16% Zn and 0.05% Cu and including 0.5 meter at 2.04 g/t Au, 121.00 g/t Ag, 0.38% Zn and 2.01% Cu in hole 163-15-020. These results indicate that this mineralized structure can be followed over an area of a minimum lateral extent of 50 meters by a vertical extent of at least 100 meters and still open in all directions.

The third hole in this area (ie hole 163-15-008) was drilled to test a second mineralized structure similar to the first one outlined in the former drill program done last year but located at some 300 meters to the east (ie hole 163-14-004), but closer to the surface. Only wide spread gold and zinc anomalies were intersected (see Table 1).

Target 2: Favourable Rhyolite-Andesite contact in the Beaupré Bloc

In total, 5 holes have been drilled to test the Rhyolite-Andesite favourable contact within the Beaupré bloc (host of the Perron Polymetallic Mineralization) at the eastern portion of this horizon over a distance of about 4,0 km. These 5 DDH were drilled at a spacing of about 250 meters along a strike length of about 1.5 km starting with hole 163-15-017 located at a distance of about 75 meters to the west of hole PE-2013-04 and ending with hole 163-15-011 located at 2.5 km of the same hole. Except for hole 163-15-021, all of these holes returned some anomalous polymetallic gold zones associated with the same alteration type that for the Perron Polymetallic structure, characterized by the presence of pinkish porphyroblasts of garnet, with values of up to 11.8 g/t Au and 1.50 g/t Ag over 0.5 meters in hole 163-15-017 where some visible gold was also noted.

 In the case of hole 163-15-021, a highly pyritized stratabound mineralization associated with high silica  and sericite alteration that is totally different of the Perron polymetallic mineralization has been intersected close to the Rhyolite-Andesite contact of the Beaupré Bloc. This intersect has returned 1.70 g/t Au over 5.5 meters including 0.8 meter at 9.45 g/t Au. It is important to note that this intersect seems to be associated with a VTEM airborne geophysics that is parallel to the mineralization and can be followed over a strike length of at least 400 meters.

Target 3: 2014 VTEM airborne anomalies located within the Normetal Mine Horizon

Following the 2014 VTEM airborne survey and a geological compilation work of the property, five holes were drilled in order to test the Normetal Mine Horizon. From this work, one drill hole (ie 163-15-015) has intersected a significant semi-massive sulfide horizon associated with heavy dark chlorite alteration that returned 2.23 % Cu, 0.11% Zn, 8.30 g/t Ag and 0.20 g/t Au over 1.0 meter. This mineralization is hosted within a stratabound unit of tuffeceous material located between a unit of rhyolite and a unit of andesite of the NMH at the same stratigraphic position of the former producer Normetal Mine (historical lifetime production of 10.1 MT @ 2.15% Cu, 5.12% Zn, 0.55 g/t Au and 45.25 g/t Ag). Moreover, this intersect is associated with a VTEM anomaly identified last year by airborne survey over more than 300 meters in strike length. Down hole geophysics survey (Pulse EM) in this hole has detected an EM conductor associated directly to this intercept that confirmed the airborne anomaly and open up new promising ground for additional work.

Comments on the Results

The management of Amex is very enthusiastic about the results of this latest phase of drilling done by Agnico Eagle Mines on Amex’s 100% owned Perron property. Jacques Trottier, Ph.D, president and CEO of Amex says: ‘This less than 5,000 meters phase of drilling has, in our opinion, successfully returned positive results on each of three different types of target. Namely, not only on follow-up drilling in the Amex 2013 discovery area, but also on two very different types of target. This shows how much this underexplored property potential has. I want to personally congratulate the Agnico Eagle Mines exploration team for this new discovery on the Normetal Mine Horizon done by their skilled experienced exploration geologists. We are looking forward to see the follow-up program on each of the favourable targets that they have outlined, hopefully in a very near future’.

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. Jacques Marchand, P.Eng. Geo., Qualified Person as defined by Canadian N43-101 has approved the technical information reported in this news release.

For further information please contact Jacques Trottier, at 514-866-8209.

 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, June 23, 2015 – Amex Exploration Inc. (TSXV: AMX) (“Amex” or the “Corporation”) is pleased to report that Agnico Eagle Mines Limited (NYSE:AEM, TSX: AEM), (“Agnico”), has made the fourth cash payment of $100,000 on time, and in accordance with the Option Agreement for the Perron property. (see PR2013-06-21).

Following the positive drilling results as outlined in the press release dated June 16, 2015, Agnico and Amex amended the Option Agreement effective June 21, 2015 to provide flexibility in the $4,500,000 exploration budget amount to be incurred to acquire a 51% interest in the Perron property.

The total exploration budget amount is to be incurred before June 21, 2017. As part of the June 21,2015 amendment to the Option Agreement, the total cash payment due to Amex increased from $450,000 to $500,000. Future cash payments are expected to be as follow: $70,000 on December 31, 2015, $100,000 on June 21, 2016 and a final payment of $50,000 on December 31, 2016. To date, Agnico has made payments to Amex totalling $280,000.

The third year of the Option Agreement is underway with a plan for an extensive drilling program on the Normetal Mine Horizon discovered in winter 2015 drilling program, as well as further follow-up on the Amex initial discovery hole PE-2013-03, and finally on the lateral contact between the Ryolite and the Andesite unit of the Beaupre bloc.

Jacques Trottier, PhD, President and CEO of Amex comments, “The amendment to the option agreement is positive for the exploration program work as it will provide sufficient time to establish the best targets to be drilled in the Perron property. We are anxious to see the drilling campaign resume.”

Amex also announces that its Board of Directors approved the granting of incentive stock options under its stock option plan to its directors and consultants to acquire up to an aggregate of 1,400,000 common shares. All of the options are exercisable for a period of 5 years at a price of $ 0.05.

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 further information please contact:
Jacques Trottier, PhD
President and Chief Executive Officer
Amex Exploration: 514-866-8209.

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- August 31, 2015 – Amex Exploration Inc. (AMX: TSX-V) is pleased to announce that it has just started a new phase of drilling on its 100% owned Cameron gold property.

This new phase of drilling is in fact a follow up of the previous drilling completed in late 2013 (see PR of November 26, 2013) and in early 2011 where a gold-bearing shear zone, located in a mylonitic intermediate volcanic unit, is intersected returning high grade values, for example, up to 7,37 g/t Au over 1.4 meters located within a broader lower grade zone that returned an average value of 1,27 g/t Au over 9,5 meters, in hole CA2013s04 (see PR2014-04-09).

Following a detailed review and interpretation of all of the previous phases of work, including detailed geophysics and two phase of drilling, this new campaign is prepared by Jacques Marchand, P. Eng., an independent consulting geological engineer. This work has lead to a 3D structural model interpretation of the mineralized high grade gold structure that will be tested by 6 holes totalling about 1,000 meters of drilling that should be completed by October.

The Cameron property is located at about 25 kilometres to the NE of Lebel-sur-Quévillon in the north-western part of Quebec, and consists of 93 claims for a total area of 5231 hectares. Geologically, it is covered by volcano sedimentary rocks of the Abitibi Sub province which consists mostly of basaltic to andesitic rocks with several sheared / mylonitic intermediate volcanic sections in the drilling trench area. The property is strategically located near the intersection of the Cameron and Chieftain regional deformation corridors and is cut by the regional NE trending Franquet and Wedding faults. To the northwest, shear-related gold mineralization has been discovered along the NW Cameron deformation corridor at the Flordin deposit with 1997 estimated reserves of 815 500T @ 5.1 g/t Au and at the Cartwright deposit with 83 000T @ 10.4 g/t Au.

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.

Jacques Marchand, P.Eng., who is a Qualified Persons as defined by Canadian NI 43-101, has approved the technical information reported in this news release.

For additional information, contact:
Jacques Trottier, PhD
President and Chief Executive Officer
Tel.: (514) 866-8209

Forward-looking statements:

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.

 

MONTREAL, Canada- November 12, 2015 – Amex Exploration Inc. (AMX: TSX-V) announces that, at the annual meeting of shareholders held on November 12, 2015, each of the 5 nominees listed in the Management Information Circular filed on October 22, 2015 with regulatory authorities were elected as directors of Amex Exploration Inc.

Based on the proxies received and the votes at the annual meeting of shareholders, the following individuals were elected as directors of the company until the next annual shareholders meeting. The following are:  Mr. Jacques Trottier, Mr. Pierre Carrier, Mr. James Hayward Coleman, Mr. André Shareck, and Mr. André Gagné.

At the request of the TSX Venture, the Company confirms obtaining the approval of shareholdersat the meeting held on October 25, 2012, for the amendment to the stock option plan regardingthe increasing of the number of shares issuable under the plan from 5,290,000 shares to7,822,749 shares.

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

Forward-looking statements:

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.

MONTREAL, Canada- December 9, 2015- Amex Exploration Inc. (AMX: TSX-V) is verypleased to announce that it has just received the final results of its latest drilling campaign on its 100% owned Cameron gold property, confirming the lateral and at depth extensions of the high grade gold mineralized structure discovered by Amex in 2011 with values of up to 11,2 g/t Au over 0,3 meter located within a broader lower grade zone that returned, as an example, an average value of 1,38 g/t Au over 7,1 meters in hole CA2015s08 (see Table 1).

Table_1

The drilling campaign and the quality control program is defined and supervised by Jacques Marchand Eng Geol, The QAQC include insertion of blank, standard or duplicate every 20 samples. The gold value is estimated by Fire Assay at ALS Mineral for hole number 1 to 4 and by Laboratoire d’Analyse Bourlamaque for hole 5 to 8, in Val d’Or. The logging and sampling was realised by Matthieu Picarello Geol.

This latest phase of drilling was initiated in late August of this year (see PR of August 31, 2015)consisted of 8 drill holes totalling 1725 meters and is, in fact, a follow-up of Amex previous drilling done in 2011 and 2013. During these previous phases of drilling, a new gold-bearing shear zone was recognized and identified in a mylonitic intermediate volcanic unit that returned high grade values, for example, of up to 7,37 g/t Au over 1,4 meters located within a broader lower grade zone that returned an average value of 1,27 g/t Au over 9,5 meters in hole CA2013s04 (see PR2014-04-09.)

Following a detailed review and interpretation of all of the previous phases of work, including detailed geophysics and two previous phase of drilling, this new campaign has been prepared by QP Jacques Marchand, P. Eng., an independent consulting geological engineer. This work has lead to a three-dimensional structural model interpretation of the mineralized high-grade gold structure that was successfully tested by this drilling. The pattern of this latest phase was designed to better understand the orientation and continuity of the gold bearing structure. Out of the 8 drill holes, 7 holes have intersected the structure with significant gold values and demonstrate that this structure has a width of about 7,5 to 9,5 meters, oriented ENE-WSW and recognised over a strike length of at least 200 meters (see table 1 for all 2015 drill results). This structure appears from surface to a minimum depth of at least 300 meters, and is open in all directions.

The Cameron property is located at about 25 kilometres to the NE of Lebel-sur-Quévillon in the north-western part of Quebec, and consists of 13 claims for a total area of 731 hectares.Geologically, it is covered by volcano sedimentary rocks of the Abitibi Sub province which consists mostly of basaltic to andesitic rocks with five felsic horizons present in the trench area.  The property is strategically located near the intersection of the Cameron and Chieftain regional deformation corridors and is cut by the regional NE trending Franquet and Wedding faults. To the northwest, shear-related gold mineralization has been discovered along the NW Cameron deformation corridor at the Flordin deposit with 1997 estimated reserves of 815 500T @ 5.1 g/t Au and at the Cartwright deposit with 83 000T @ 10.4 g/t Au.

The management of Amex is very pleased with the identification and understanding of this new high-grade gold-bearing structure at Cameron and is actually preparing an additional work program to better evaluate its full potential. The timing and the emplacement of this next phase of work will be announced as soon as it will be approved by Amex management.

Amex Exploration Inc also announces the resignation of Mr. André Gagné from its Board of Directors. The company would like to thank André for his dedicated service to Amex and wish him every success in his future projects.

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.

Jacques Marchand, P.Eng., who is a Qualified Persons as defined by Canadian NI 43-101, have approved the technical information reported in this news release.

For additional information, contact: ​
Jacques Trottier, PhD
President and Chief Executive Officer
Tel.: (514) 866-8209

Forward-looking statements:

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.

Montreal, December 22, 2015– Amex Exploration Inc. (TSXV: AMX) (“Amex” or the “Corporation”) is reporting that it has signed with Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM), (“Agnico”) a third amendment to the option agreement dated June 21, 2013 (as amended, the “Option Agreement”) which provides for Agnico to earn a 51% interest in the Perron property (see PR2013-06-21).

Following the positive drilling results on the extension of the Mine Horizon, as outlined in the press release dated December 16, 2015, (see PR2015-12-16) Agnico and Amex decided to amend the Option Agreement (see PR2013-06-21)effective as of December 31, 2015.

This revised Option Agreement will be over a three year period with a revised exploration budget of $2,750,000 (in addition to the$1,709,425 that has already been spent) to be made as follows: $500,000 to be spent before December 31, 2016, $750,000 to be spent before December 31, 2017, and $1,500,000 to be spent before December 31,2018. In addition to the exploration expenditures, Agnico must pay to Amex the following cash amounts: $25,000 promptly after the execution of the third amendment to the Option Agreement, $50,000 on December 31,2016, $75,000 on December 31, 2017 and $100,000 on December 31, 2018 (which amounts are in addition to the $280,000 of cash payments already made).

Jacques Trottier, PhD, President and CEO of Amex comments, “This new amendment has been negotiated and agreed with Agnico in order to optimize in a more efficient and rational manner the additional exploration work program to be executed at the Perron property following the positive results that has returned from the last phase of drilling on the Normetal Mine Horizon announced last week. In these very difficult times for our industry, we are very pleased to see that our partner is still committed to this property indicating to us that they are sharing our evaluation of its good potentialto find valuable polymetallic mineralization. We are anxious to see the drilling campaign resume.”

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 further information please contact:
Jacques Trottier, PhD
President and Chief Executive Officer
Amex Exploration: 514-866-8209.

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.