amex exploration

Amex Exploration

Montreal, Quebec--(Newsfile Corp. - June 16, 2022) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce assay results from a number of drill holes focused on expansion drilling of the High Grade Zone ("HGZ"), part of the Eastern Gold Zone ("EGZ"), of the Perron Project as shown in Figure 1. Today's drill results demonstrate that the HGZ is expanding along strike, outside of the main high grade central ore shoot.

Highlights include:

  • 15.52 g/t Au over 15.85 m, including 198.36 g/t Au over 1.20 m, in hole PE-22-511W3 at a vertical depth of 750 m; and
  • 11.27 g/t Au over 11.00 m, including 203.72 g/t Au over 0.50 m, in hole PE-22-511W2 at a vertical depth of 785 m

As part of its resource definition program, Amex has been focused on expansion of known zones of mineralization through much of the 2022 drilling program. This drilling targeted the margins of the known gold mineralization as shown in Figures 2 & 3, outside of the main "core" of the HGZ that regularly delivers multi-ounce assay results. These results from the HGZ expansion are definitively adding significant tonnage and potential ounces to the overall ore zone. Of particular interest are the results from holes PE-22-511W2 & PE-22-511W3, which returned very high assay values (see Figure 4 for images of visible gold mineralization) in an area that low grade mineralization was expected. This is highly encouraging for exploration as it shows that high grade lenses exist outside of the main mineralized zone.

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "The expansion drilling program on the HGZ is going very well. I was very excited seeing the strongly mineralized core especially in the two highlight holes. In addition to the high grade holes, the lower grade mineralization that we have been intercepting on the fringes of the system is adding significant strike and tonnage to the system which should enhance the future resource on the HGZ."

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Figure 1: Plan view of the geology of the Eastern Gold Zone comprised of the High Grade Zone and the Denise Zone as well as the newly discovered E2 Gold Zone.

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Figure 2: Longitudinal section of the High Grade Zone, with today's released hole locations in green labels. Assay results are presented in core length (m). True width is approximately 45-70% of reported intercepts. Metal factor is defined as gold grade in grams per ton multiplied by core length in metres.

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Figure 3: Zoomed in longitudinal section of Western HGZ, with today's released hole locations and grades labelled in green. Assay results are presented in core length (m). True width is approximately 45-70% of reported intercepts. Metal factor is defined as gold grade in grams per ton multiplied by core length in metres.

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Figure 4: Highlight photos of visible gold and associated sphalerite and pyrite within quartz veins of the High Grade Zone from holes PE-22-511W2 and PE-22-511W3.

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Table 1: Assay results from the High Grade Zone

Zone Hole ID From (m) To (m) Length (m) Au (g/t) Vertical Depth (m) Gold Metal Factor (g/t*m)
Western HGZ PE-22-511W3 848.15 864.00 15.85 15.52 750.00 245.99
Including 857.75 864.00 6.25 38.98 243.63
Including 860.90 862.10 1.20 198.36 238.03
PE-22-511W2 876.00 887.00 11.00 11.27 785.00 123.95
Including 884.50 885.00 0.50 203.72 101.86
PE-21-447 504.00 521.00 17.00 1.83 450.00 31.04
Including 518.15 520.50 2.35 9.19 21.59
PE-22-503W1 806.80 811.70 4.90 6.20 700.00 30.38
Including 807.30 808.15 0.85 23.34 19.84
PE-21-288 966.00 976.50 10.50 2.59 880.00 27.18
PE-21-240 607.00 610.30 3.30 2.96 540.00 9.78
PE-22-500 757.30 769.40 12.10 0.78 670.00 9.43
PE-22-516W1 1019.50 1025.60 6.10 0.80 940.00 4.86
PE-21-288W1 969.30 969.80 0.50 7.99 880.00 4.00
PE-22-500W1 755.20 759.20 4.00 0.56 660.00 2.24
Eastern HGZ PE-22-455W2 1232.5 1235.2 2.7 3.22 1120 8.7
PE-22-455 1249.35 1251.1 1.75 4.23 1150 7.41
PE-20-187W3 1162.5 1173 10.5 0.69 1050 7.22
PE-22-462 263 276.15 13.15 0.51 210 6.64
PE-22-455W3 1216.9 1219.9 3 2.03 1110 6.09
PE-21-448W2 964 970.25 6.25 0.69 890 4.31
PE-22-477 299 303.3 4.3 0.8 220 3.45

  

In addition, the Company wishes to make a correction to the press release issued February 17, 2022, which stated that the quantity of shares issued in connection with the financing was 10,295,500. The correct quantity of shares issued was 10,292,500.

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. 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.

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 117 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.

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Montreal, Quebec--(Newsfile Corp. - June 20, 2022) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce assay results from new follow-up drillholes on the copper rich volcanogenic massive sulphide ('VMS') QF Zone. The QF Zone occurs along the Normétal Mine Horizon which is a kilometric tuffaceous unit that hosts the nearby past-producing Normétal Mine as shown in Figure 1. See Figures 2 & 3 for a plan map and longitudinal section of the drill intercepts and Figure 4 for photos of the polymetallic sulfide mineralization.

Highlights include:

  • PEX-21-083W1 intersected 2.86% CuEq comprising 2.17% Cu, 0.90% Zn, 0.28 g/t Au and 18.84 g/t Ag over 6.40 m including 4.81% CuEq comprising 4.25% Cu, 0.18% Zn, 0.36 g/t Au and 32.44 g/t over 1.60 m at a vertical depth of approximately 570 m;
  • PEX-22-108 intersected 2.08% CuEq comprising 1.84% Cu, 0.17% Zn, 0.13 g/t Au and 11.77 g/t Ag over 7.10 m, including 6.08% CuEq comprising 5.43% Cu, 0.27% Zn, 0.40g/t Au and 35.39g/t Ag over 1.90 m at a vertical depth of approximately 560 m; and
  • PEX-21-098W2 intersected 6.03% CuEq comprising 5.37% Cu, 0.39% Zn, 0.36 g/t Au and 33.58 g/t Ag over 2.20 m at a vertical depth of approximately 610 m.

The QF Zone grades and widths compares favourably to the neighbouring Normetal Mine which produced approximately 10.1 million tonnes grading 2.24% Cu, 5.41% Zn, 0.53 g/t Au, and 44.45 g/t Ag 1937 to 1975, with development down to a depth of approximately 2.40 km (SIGEOM - Mine Normétal).

Jacques Trottier, PhD, Executive Chairman of Amex Exploration, commented, "Today's results illustrate that the copper rich core of QF zone is becoming more robust at the 600 m level and shows a very good eastern lateral extension with copper values of about 2% over a thickness of approximately 4 to 5 meters. The apparent gap of intercepts and borehole geophysical anomalies between the surface and the 600 m level may simply be due to the absence of drilling in this area. Additionally, the QF VMS discovery is still open in all directions and additional work including more borehole geophysics and drilling will be needed to fully evaluate the real potential of this VMS discovery at Normétal."

Table 1: Assay results from the QF Zone at Perron

Hole IDFrom (m)To (m)Length (m)CuEq (%)Cu (%)Zn (%)Au (g/t)Ag (g/t)Vertical depth (m)
PEX-21-083W1688.00694.406.402.862.170.900.2818.84~570
Including690.70692.301.604.814.250.180.3632.44
PEX-22-108646.70653.807.102.081.840.170.1311.77~560
Including650.10652.001.906.085.430.270.4035.39
PEX-21-098W2738.75740.952.206.035.370.390.3633.58~610
PEX-21-095481.70483.651.952.591.201.330.6357.07~400
PEX-21-096535.00536.901.901.441.170.270.148.83~470
PEX-21-094742.65745.552.900.490.440.030.032.43~650
PEX-21-098W1772.45775.152.700.430.250.370.031.36~660

 
Formula
CuEq (%) = Cu(%) + [ ( Zn(%) * Zn price (lb)/Cu price (lb) ] + [ ( Ag(ppm) * (Ag price (lb)/Cu price (lb)/10000 ] + [ ( Au(ppm) *( Au price (lb)/Cu price (lb))/10000) ]
Assuming 100% Recovery of all metals
2022-06-17 metal price (US $): $4.02/lb Cu, $1.59/lb Zn, $1,837/oz Au, $21.6/oz Ag

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Figure 1. Geological map of the Normétal Volcanic Complex, with the location of the Perron Property and the new VMS discovery (named the QF Zone). Modified from Lafrance et al., 2000.
 
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Figure 2. Geological compilation map of the target VMS area of the Perron property located within the Normétal Mine Sequence containing the QF Zone. Geology is modified from Sigéom.
 
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Figure 3. Long section of QF Zone with today's released hole locations in green labels. Previously announced (September 21, 2021) results labelled in black. Assay results are presented in core length (m). True width is approximately 50-70% of reported intercepts.
 
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Figure 4. Highlight photos of the massive to disseminated ulphide Cu-rich lens intersected in drillholes PEX-21-083W1 and PEX-22-108. Abbreviations: Cp - Chalcopyrite, Po - Pyrrhotite, Py - Pyrite, MS - Massive Sulphides,
 
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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 one blank, one standard and one duplicate every 10 samples, in addition to the regular insertion of blank, duplicate, and standard samples accredited by ALS Canada Ltd. during the analytical process. Additionally, sample weight is taken prior shipment to validate sample identity. Gold values are estimated by fire assay with finish by atomic absorption. Zinc, Copper and Silver values are estimated by four acid digestion multi elements Inductively Coupled Plasma - Atomic Emission Spectroscopy (ICP-AES), ME-ICP61. Zinc values over 1%, copper values over 1% and silver values over 100 g/t are estimated by four acid digestion ICP-AES, OG62. The Qualified Person has not completed sufficient work to verify the historic information on the Property, particularly in regards to historical drill results. However, the Qualified Person believes 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 117 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/128293

Montreal, Quebec--(Newsfile Corp. - May 12, 2022) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") announces that shareholders have approved of all resolutions brought before them at the Annual General Meeting of Shareholders ("AGM") held on May 10, 2022. A total of 24,177,225 shares were represented in person or by proxy at the meeting, representing approximately 23.72% of the Corporation's outstanding shares.

The following Board members stood for re-election and were duly re-elected: Victor Cantore, Pierre Carrier, Bryan Coates, Yvon Gélinas, Anik Gendron, Luisa Moreno, André Shareck, and Jacques Trottier. These directors will hold office until the next annual meeting or until their successors are elected or appointed or a director vacates office in accordance with the by-laws of the Corporation.

Raymond Chabot Grant Thornton (RCGT) was reappointed as the external auditor of TGSC and will hold office until the next annual meeting at such remuneration as may be determined by the directors with 99% of the votes cast supporting the appointment of the auditor. Shareholders also voted 98% in favor, to approve Amex's rolling up to 10% stock option plan, through which the total number of common shares reserved for issuance as incentive stock options shall not exceed 10% of the total issued and outstanding common shares. The plan remains subject to the approval of the TSX Venture Exchange.

Corporate Update

Also during the AGM, the Company provided a review of operations during the year 2021 and to date. Depending on the season, Amex has up to 10 drills turning and is drilling approximately 10,000 metres a month, making this campaign one of the largest and most aggressive exploration programs in Canada.

The carefully planned 2021 exploration program led to important new discoveries:

  • the Alizee Gold Zone
  • the 210 Gold Zone
  • the Upper HGZ
  • the E2 Gold Zone and,
  • a new copper rich VMS discovery, the QF Zone.

In addition, Amex further defined and expanded the Denise Zone and identified exceptional high-grade gold continuity in the High-Grade Gold Zone (HGZ). To date, Amex has hit very high-grade and often visible gold in multiple zones across the project over a 3.5 km corridor of gold mineralization.

Much of the winter drilling campaign focused on the Denise zone and the newly discovered E2 zone, taking advantage of better access due to the cold weather. The Denise target is a very important zone that is kilometric in scale. Numerous additional holes are pending and planned, to better define this area along strike and to depth.

The E2 zone is also a very important target for Amex, as it is an underground-type ore shoot that lies only ~250 metres from the HGZ zone and is proving to be sub-parallel. Of course, the HGZ continues to be an important zone and is a very rich underground target.

In terms of financing, over 60M$ was raised since 2021 and since the discovery of the HGZ at the end of 2018, Amex has drilled approximately 280,000 meters, in 788 drill holes, and another 60-70,000 meters of drilling is expected to be completed before the end of the year.

With all of this activity, the Company wishes to highlight its commitment to moving forward using environmental, social and economic best practices. Earlier this year, Amex began the process to obtain the ECOLOGO® Certification for Mineral Exploration Companies. Amex expects to complete certification before the end of the year. ECOLOGO® features third-party certification of environmental, social and economic practices.

Finally, the Company adopted a Code of Conduct and Business Ethics and is addressing diversity, women now make up to 25% of our Board and visible minorities, make up 12.5%. To support our efforts, the Board has created an ESG Committee to ensure strong, value creating, governance practices in place.

Board Update

Following the AGM, the Corporation is announcing that as of today, Mr. Bryan Coates, an independent director, has resigned from the Board of Directors for personal reasons. Amex Exploration thanks Mr. Coates for his contribution to the Board over the past 2 years.

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. 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.

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 117 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/123863

Montreal, Quebec

Montreal, Quebec--(Newsfile Corp. - May 9, 2022) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce a total of 9 drill holes focused on near surface and on-strike expansion as well as definition drilling of the Denise Zone ("Denise"), part of the Eastern Gold Zone ("EGZ"), of the Perron Project. In addition, the Company is also pleased to report 11 drills holes from the newly discovered E2 Gold Zone ("E2"). See Figure 1 for a plan view of the geology of the EGZ. In addition, Amex would like to remind shareholders of its Annual General Meeting and corporate update which is scheduled for Tuesday, May 10, 2022 at 10:00 AM Eastern time and will be made available via webcast in consideration of current Covid 19 Government guidelines.

Register for the Zoom broadcast here: https://us06web.zoom.us/meeting/register/tZ0qdOCorjkoGNcQmBM-YC2Nnwcry-3SWQdN

Today's drill results demonstrate that tenure and grade of the eastern area of Denise is starting to replicate the western Denise Zone which has been well defined with diamond drilling. These results indicate the potential for higher grade shoots forming within the eastern Denise, similar to what has been defined in the western Denise. A complete list of results is available in Table 1 and presented in Figure 2.

The E2 Gold Zone has now been expanded down to a vertical depth of 370 m and along strike for 325 m. A complete list of results is available in Table 2 and presented in Figure 3.

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "Hole PE-22-510 recorded one of the best intersections that we have reported to date in the Denise Zone. We are now seeing very high grade individual samples within the broader panel of mineralized rhyolite that comprises Denise. We are continuing to drill and define this important target as we believe it has the potential to add significant ounces at Perron. In addition, we are beginning to understand the geometry and plunge of the E2 Gold Zone, which roughly parallels the High Grade Zone. The proximity of the E2 and HGZ, approximately 250 metres apart, should be very positive in a potential underground mining scenario as the ounce-per-vertical-metre count would increase significantly."

Trottier continued, "Amex management is very excited about these results and very much looks forward to the continuation of the current drilling phase and the start of the summer fieldwork season which will begin in the coming days. In addition to the ongoing drilling campaign, fieldwork this summer will consist of detailed geological mapping and stripping of exposed surfaces (i.e. outcrops) on a regional scale covering various areas of the property, as well as regional studies of rock geochemistry and bio-geochemistry."

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Figure 1: Plan view of the geology of the Eastern Gold Zone comprised of the High Grade Zone and the Denise Zone as well as the newly discovered E2 Gold Zone

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Figure 2: Longitudinal section of the Denise Zone, with today's released hole locations in green and/or labelled on the longitudinal. Assay results are presented in core length (m). True width is approximately 70-80% of reported intercepts. Metal factor is defined as gold grade multiplied by core length.

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Figure 3: Longitudinal section of the E2 Gold Zone, with today's released hole locations in green and/or labelled on the longitudinal. Assay results are presented in core length (m). True width is approximately 70-80% of reported intercepts. Metal factor is defined as gold grade multiplied by core length.

To view an enhanced version of Figure 3, please visit:
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Table 1: Assay results from Eastern Denise Zone

Hole IDFrom (m)to (m)Length (m)Au (g/t)Metal Factor (g/t*m)Vertical Depth (m)Zone
PE-22-510376.50407.4030.9011.57357.51~270Eastern Denise Zone
Including396.00396.500.5055.0827.54
Including406.90407.400.50601.47300.74
PE-22-502321.00322.001.0027.8727.87~290-310
And349.00352.503.503.2911.52
PE-22-472W1412.90414.601.707.1012.07~340
PE-22-488295.70297.702.001.693.37~240-270
And347.50348.000.5012.696.35
PE-22-472348.00354.006.000.603.62~290-350
And412.50414.502.002.795.58
And412.50422.009.500.807.59
PE-22-485144.50147.252.751.062.93~90
PE-22-494329.00334.805.800.432.49~220
PE-22-497283.00284.501.502.173.26~210
PE-22-474325.70329.003.300.722.38~240-290
And407.70408.300.605.273.16

 

Table 2: Assay Results from E2 Gold Zone

Hole IDFrom (m)to (m)Length (m)Au (g/t)Metal Factor (g/t*m)Vertical Depth (m)Zone
PEX-22-102W1455.50465.6010.103.7137.46~330E2 Gold Zone
Including456.90457.400.5033.6216.81
Including463.60464.100.5012.636.32
PE-22-501515.45516.100.6527.4017.81~310
PE-22-484512.90515.302.405.7613.83~380
Including512.90513.400.5014.077.04
PE-22-49439.1039.600.5021.6010.80~30
PEX-22-099478.50482.604.102.369.66~350
Including479.70480.200.506.043.02
Including482.00482.600.605.123.07
PEX-22-100534.70538.653.951.676.60~410
Including534.70535.200.507.863.93
PEX-20-033173.70174.550.851.471.25~110
PEX-21-070194.70198.704.000.411.64~140
PEX-22-102481.00484.503.500.652.26~340-350
PE-22-460116.00117.001.001.221.22~250
PE-22-497190.70194.403.701.293.95~140

 

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. 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.

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 117 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.

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Junior gold mining company, Amex Exploration is expanding their Denise Zone in Quebec by an additional 450 m to the east.

Highlights from the Denise Zone include:

Western Denise

  • 65.00 m of 1.89 g/t Au, including 0.50 m of 197.35 g/t Au at a vertical depth of ~345-390 m in hole PE-21-422;
  • 58.50 m of 1.82 g/t Au, including 0.50 m of 177.65 g/t Au, at a vertical depth of ~350-400 m in hole PE-21-392;
  • 166.50 m of 0.59 g/t Au, including 30.30 m of 1.16 g/t Au and 6.00 m of 5.16 g/t Au at a vertical depth of ~170-280 m in hole PE-21-411;
  • 16.00 m of 5.77 g/t Au, including 1.50 m of 59.97g/t Au at a vertical depth of ~200 m in hole PE-21-432;
  • 66.60 m of 1.28 g/t Au, including 1.50 m of 34.22 g/t Au at a vertical depth of ~430-480 m in hole PE-21-415

Eastern Denise

  • 41.30 m of 0.88 g/t Au, including 14.90 m of 1.50 g/t Au at a vertical depth of ~230 m in hole PE-22-468;
  • 19.10 m of 0.83 g/t Au, including 0.50 m of 19.64 g/t Au at a vertical depth of ~105 m in hole PE-22-480;

Montreal, Quebec--(Newsfile Corp. - April 11, 2022) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce a total of 27 drill holes focused on near surface and on-strike expansion as well as definition drilling of the Denise Zone ("Denise"), part of the Eastern Gold Zone ("EGZ"), of the Perron Project. See Figure 1 for a plan view of the geology of the EGZ and the mineralized zones.

Today's drill results demonstrate that Denise can now be traced over ~950 m from the Western mafic intrusion to the most Eastern intercept to date in the Denise structure. The Company intends to continue to drill to the East to further expand the Denise Zone along strike. In addition, Amex will continue definition drilling on Western Denise particularly at the depth where there appears to be a higher grade trend developing. A complete list of results is available in Table 1 and presented in Figure 2.

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "I am very encouraged by the results from the Eastern Denise Zone as they clearly show the structure continues near surface and along strike as we predicted and is now a confirmed kilometric sized system. We have numerous additional holes pending and planned to better define this area along strike and to depth. In addition, our infill drilling on Western Denise has begun indicating multiple higher grade ore shoots within the larger Denise mineralized envelope. We have also defined the Western Denise down to 750 metres. The Denise Zone is wide open along strike and to depth and has the potential to be a very sizeable structure and potential open pit target."

Trottier continued, "One of the best features of our Perron project is that we have both bulk tonnage style and exceptionally high-grade vein-hosted gold zones on the Project. This provides us with optionality from a mining perspective. The close proximity of the Denise Zone to the High Grade Zone makes it a very important target for Amex. We look forward to the receipt of additional results as we work towards building out the property-wide resource."

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Figure 1: Plan view of the geology of the Eastern Gold Zone comprised of the High Grade Zone and the Denise Zone

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Figure 2: Longitudinal section of the Denise Zone, with today's released hole locations in green and/or labelled on the longitudinal. Note that drillholes 163-15-021 and 163-15-018 on the easternmost portion of this longitudinal were drilled by a previous operator and have not been fully sampled. The Company intends to evaluate the core to determine if additional sampling of these holes is necessary. Assay results are presented in core length (m). True width is approximately 70-80% of reported intercepts. Metal factor is defined as gold grade multiplied by core length.

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Table 1: Assay results from Denise Zone

Hole ID From (m) to (m) Length (m) Au (g/t) Metal Factor (g/t*m) Vertical Depth (m) Zone
PE-21-422 432.00 497.00 65.00 1.89 122.72 345-390 Western Denise Zone
Including 432.00 432.50 0.50 197.35 98.68
PE-21-392 421.50 480.00 58.50 1.82 106.41 350-400
Including 442.50 443.00 0.50 177.65 88.83
PE-21-411 232.50 399.00 166.50 0.59 98.73 170-280
Including 294.50 324.80 30.30 1.16 35.15
Including 393.00 399.00 6.00 5.16 30.98
PE-21-432 240.00 256.00 16.00 5.77 92.27 200
Including 240.00 241.50 1.50 59.97 89.96
PE-21-395 424.50 560.00 135.50 0.63 85.50 380-490
Including 424.50 438.00 13.50 3.47 46.86
PE-21-415 465.00 531.60 66.60 1.28 85.05 430-480
Including 528.00 529.50 1.50 34.22 51.33
PE-21-352 143.70 233.00 89.30 0.82 73.49 120-180
PE-21-359 115.75 154.50 38.75 1.25 48.52 100-125
And 178.50 182.70 4.20 2.14 9.00 150
PE-21-451 154.50 162.50 8.00 2.75 21.99 120
PE-21-424 554.50 568.50 14.00 1.18 16.52 500
PE-21-388 376.50 379.50 3.00 4.21 12.63 320
And 490.65 501.00 10.35 3.25 33.65 425
PE-21-416 223.00 248.00 25.00 1.02 25.50 200
And 318.00 333.00 15.00 1.34 20.15 270
PE-21-372 228.60 238.50 9.90 0.73 7.26 175
PE-21-377 310.50 315.00 4.50 1.48 6.66 250
PE-21-35EXT 391.00 410.50 19.50 0.50 9.79 360
And 469.70 473.20 3.50 10.68 37.37 420
PE-21-429 216.2 222 5.8 1.01 5.86 175
And 316.5 334.7 18.2 0.301 5.48 250
PE-21-447 678.55 680.00 1.45 1.59 2.31 600
PE-21-118EXT 382.2 387.25 5.05 0.372 1.88 300

 

Hole ID From (m) to (m) Length (m) Au (g/t) Metal Factor (g/t*m) Vertical Depth (m) Zone
PE-22-468 211.60 252.90 41.30 0.88 36.39 165-195 Eastern Denise Zone
Including 238.00 252.90 14.90 1.50 22.41
PE-22-480 140.30 159.40 19.10 0.83 15.78 105-120
Including 140.30 140.80 0.50 19.64 9.82
PE-22-460 311.50 312.00 0.50 29.87 14.94 245
And 341.70 348.00 6.30 1.10 6.90 260
PE-22-493 335.70 348.60 12.90 0.93 11.96 255
PE-22-472W1 412.90 414.60 1.70 7.10 12.07 340
Including 413.40 414.10 0.70 13.11 9.18
PE-22-465 333.00 357.00 24.00 0.45 10.78 235-250
PEX-21-061 447.90 470.05 22.15 0.45 9.92 280
163-15-021* 215.40 220.90 5.50 1.70 9.33 150
163-15-018* 356.50 366.00 9.50 0.43 4.04 260

 *Historical drill holes

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. 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.

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 117 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/119996

Gold investing update - Amex Exploration announces a $49.6 million bought deal private placement, the largest financing in the history of the company.

Montreal, Quebec--(Newsfile Corp. - February 17, 2022) - Amex Exploration Inc. (TSXV: AMX) ("Amex" or the "Company") is pleased to announce the closing of the previously announced "bought deal" private placement in the amount of $49,609,850 (the "Offering"), led by PI Financial Corp., on behalf of a syndicate of underwriters, including Haywood Securities Inc., Canaccord Genuity Corp., Laurentian Bank Securities Inc. and iA Private Wealth Inc. (together, the "Underwriters"). In connection with the Offering, the Company has issued a total of 10,295,500 common shares on a flow-through basis (each, a "FT Share"), at a price of $4.82 per FT Share of which, 1,342,500 FT Shares were issued following the exercise of the Underwriters 15% over allotment option.

Victor Cantore, President and CEO of Amex commented, "This is the largest financing in the history of the Company that significantly strengthens our treasury and funds a very aggressive exploration program, for which Amex has become known in the industry. Last year we put 94% of our dollars spent to work in exploration and we have been rewarded with significant expansion of our known gold zones as well as new gold and VMS discoveries on the Perron property. 100% of the money raised from this financing will be put into our exploration program to build a substantial resource at Perron."

The FT Shares issued in connection with the Offering will qualify as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Quebec). The gross proceeds from the sale of the FT Shares will be used for general exploration expenditures on the Company's properties located in Quebec. The FT Shares under the Offering are subject to a hold period of four months and one day from the date of issuance in accordance with applicable securities laws. The Offering is subject to receipt of all necessary regulatory and other approvals, including final approval of the TSX Venture Exchange.

In connection with the Offering, the Underwriters received an aggregate cash commission of $2,238,591.

The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Amex

Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold and base metal projects in the mining-friendly jurisdictions of Quebec and Ontario. Amex is focused on its 100% owned Perron gold project located 110 kilometers north of Rouyn Noranda, Quebec, consisting of 117 contiguous claims covering 4,560 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 gold project, the company holds a portfolio of three other properties focused on gold and base metals in the Abitibi region of Quebec and Ontario.

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 use of proceeds from the Offering as described herein 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 obtain any necessary regulatory approvals, the termination of any agreement governing the Offering, 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.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

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Amex Exploration is expanding their High Grade Zone along strike, and reports new drill results from their gold mine exploration at their Perron property.

Highlights include:

  • Western (shallow) High Grade Zone
    • PE-21-366W1 returned 78.62 g/t Au over 5.90 m including 908.50 g/t Au over 0.50 m at a vertical depth of 630 m
    • PE-21-405 returned 43.74 g/t Au over 6.80 m including 583.34 g/t Au over 0.50 m at a vertical depth of 300 m
    • PE-21-410W1 returned 21.86 g/t Au over 5.56 m including 107.94 g/t Au over 1.05 m at a vertical depth of 630 m
    • PE-21-438 returned 123.53 g/t Au over 0.50 m at a vertical depth of 500 m
    • PE-21-452 returned 5.65 g/t Au over 9.95 m at a vertical depth of 360 m
  • Eastern (deeper) High Grade Zone
    • PE-21-404W2 returned 35.89 g/t Au over 6.75 m at a vertical depth of 940 m
    • PE-21-440W1 returned 16.66 g/t Au over 9.10 m including 160.04 g/t Au over 0.50 m and 96.79 g/t Au over 0.70 m at a vertical depth of 510 m
    • PE-21-404W1 returned 13.54 g/t Au over 10.50 m at a vertical depth of 980 m
    • PE-21-380 returned 16.18 g/t Au over 6.80 m including 134.92 g/t Au over 0.70 m at a vertical depth of 460 m
    • PE-21-412 returned 14.85 g/t Au over 5.00 m at a vertical depth of 330 m
    • PE-21-436 returned 29.80 g/t Au over 2.05 m at a vertical depth of 600 m

Montreal, Quebec--(Newsfile Corp. - February 8, 2022) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce a total of 34 drill holes focused on the expansion and definition of gold mineralization on High Grade Zone ("HGZ") of the Perron project ("Perron" or the "Project"). See Figure 1 for a plan view of the geology of the eastern portion of Perron and currently known mineralized zones including the HGZ. A complete list of results is available in Tables 1 & 2 and presented in Figures 2, 3, & 4.

Today's results consist of drill holes focused largely on expansion and definition of both the Eastern (deeper) and Western (shallower) portions of the HGZ. The HGZ now stands at more than 300 m along strike to a depth of 1,200 m. On the Western portion, as shown in Figures 2 & 3, Amex targeted on-strike expansion as well as infilling the lower portions of the zone, which resulted in a significantly increased strike length as indicated by holes PE-21-439 and PE-21-441 as well as an increase of grade as indicated by holes PE-21-405, PE-21-444, PE-21-438, PE-21-366W1, and PE-21-410W1. On the Eastern portion, as shown in Figures 2 & 4, Amex completed definition drilling within the core of the zone as well as on-strike expansion towards the late-stage diabase dike as indicated by holes PE-21-412, PE-21-419, PE-21-426, PE-21-380, PE-21-380W1, PE-21-442, and PE-21-417W2.

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "As one can clearly see from the new longitudinal section, this batch of drill holes significantly expands the strike and the high grade core of the HGZ with a metal factor of more than 50 (g/t Au x core length in metres). As we tighten the drill spacing, we see the Western (shallower) zone developing a much higher grade profile than previously thought. We are also seeing a much larger envelope of gold mineralization surrounding the high-grade central core of the zone than previously thought. On the Eastern (deeper) portion of the zone, we are seeing consistent high-grade mineralization essentially from the top of the Eastern portion (~325 vertical metres) to the bottom of the defined area (~1,200 vertical metres) and are also expanding the horizontal footprint of the zone."

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Figure 1: Plan view of the geology of the eastern portion of the Perron Project and known mineralized zones, including the HGZ, Denise, E2, Donna, E3, Upper HGZ, 210, and the QF VMS.

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Figure 2: Longitudinal Section of the HGZ Zone, with today's released hole locations in green.

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Figure 3: Western Upper HGZ Longitudinal Section, with today's released hole locations in green.

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Figure 4: Eastern Lower Portion HGZ Longitudinal Section, with today's released hole locations in green.

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Zone Hole ID From (m) To (m) Length (m) Au (g/t) Vertical
Depth
(m)
Gold
Metal
Factor
(g/t*m)
Western HGZ PE-21-366W1 702.70 708.60 5.90 78.62 630.00 463.85
Including 702.70 703.20 0.50 908.50 454.25
PE-21-405 324.00 330.80 6.80 43.74 300.00 297.40
Including 325.00 325.50 0.50 583.34 291.67
PE-21-410W1 704.35 710.00 5.65 21.86 630.00 123.49
Including 704.35 705.40 1.05 107.94 113.34
PE-21-438 536.80 537.30 0.50 123.53 500.00 61.77
PE-21-452 391.90 401.85 9.95 5.65 360.00 56.21
Including 399.60 401.85 2.25 19.35 43.55
PE-21-444 467.80 482.00 14.20 3.51 455.00 49.88
Including 479.80 482.00 2.20 17.68 38.90
PE-21-450 435.15 441.10 5.95 6.77 395.00 40.27
Including 435.15 435.90 0.75 33.44 25.08
And 440.50 441.10 0.60 21.83 13.10
PE-21-424 392.50 400.80 8.30 2.60 360.00 21.55
PE-21-441 126.50 152.20 25.70 0.58 135.00 14.83
PE-21-439 150.50 152.00 1.50 9.50 135.00 14.26
PE-21-445 477.30 481.00 3.70 3.66 440.00 13.55
Including 478.60 479.10 0.50 15.71 7.86
PE-21-296 65.90 75.00 9.10 0.73 55.00 6.65
PE-21-396 796.90 804.40 7.50 0.77 720.00 5.78
PE-21-291 116.90 120.00 3.10 1.71 100.00 5.30
PE-21-401 233.65 240.00 6.35 0.70 210.00 4.43

 

Table 1: Results from the Western (shallower) portion of the HGZ. *Note that drill results are presented uncapped and lengths represent core lengths. True width is estimated to be between 50 and 80 percent of core widths.

Zone Hole ID From (m) To (m) Length (m) Au (g/t) Vertical Depth (m) Gold
Metal
Factor
(g/t*m)
Eastern HGZ PE-21-404W2 1043.00 1049.75 6.75 35.89 940.00 242.28
Including 1044.45 1045.00 0.55 90.70 49.88
And 1048.10 1049.25 1.15 163.29 187.78
PE-21-440W1 553.40 562.50 9.10 16.66 510.00 151.59
Including 553.40 553.90 0.50 160.04 80.02
And 561.80 562.50 0.70 96.79 67.75
PE-21-404W1 1075.50 1086.00 10.50 13.54 980.00 142.14
Including 1075.50 1076.50 1.00 52.95 52.95
And 1081.40 1083.50 2.10 40.48 85.01
PE-21-380 522.00 528.80 6.80 16.18 460.00 110.02
Including 522.00 522.70 0.70 134.92 94.44
And 528.00 528.80 0.80 17.75 14.20
PE-21-412 415.00 420.00 5.00 14.85 330.00 74.23
Including 418.75 419.50 0.75 89.62 67.22
PE-21-436 651.00 653.05 2.05 29.80 600.00 61.09
PE-21-417W2 808.65 815.05 6.40 5.77 710.00 36.90
Including 814.55 815.05 0.50 47.97 23.99
PE-21-434 1156.9 1163.1 6.20 4.87 1070.00 30.21
PE-21-434W1 1146 1153.45 7.45 2.83 1060.00 21.10
Including 1147.5 1148 0.50 32.24 16.12
PE-21-442 682.90 697.50 14.60 1.46 630.00 21.29
PE-21-426 475.10 483.00 7.90 2.31 405.00 18.26
Including 482.00 483.00 1.00 14.54 14.54
PE-21-440 528.25 531.05 2.80 5.43 480.00 15.21
Including 695.20 697.50 2.30 4.86 11.18
PE-21-380W1 504.00 506.10 2.10 6.51 435.00 13.68
PE-21-419 415.00 419.95 4.95 2.06 330.00 10.21
PE-21-400W1 433.70 435.50 1.80 4.48 360.00 8.06
Including 434.80 435.50 0.70 11.04 7.73
PE-21-417W1 794.30 803.20 8.90 0.88 700.00 7.81
PE-21-318W2 1190.50 1195.50 5.00 0.85 1100.00 4.24
PE-21-318W1 1194.95 1197.70 2.75 0.96 1100.00 2.64
PE-21-426W1 457.45 458.95 1.50 0.63 380.00 0.95

 

Table 2: Results from the Eastern (deeper) portion of the HGZ. *Note that drill results are presented uncapped and lengths represent core lengths. True width is estimated to be between 50 and 80 percent of core widths.

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. Samples discussed in the press release were sent to Laboratoire Expert (Rouyn-Noranda) and AGAT Laboratories (Mississauga) for regional drilling 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 sample. For both laboratories, 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. Samples containing visible gold mineralization are analyzed by metallic sieve and just performed by Laboratoire Expert. 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. Copper and other elements were analyzed using the four-acid ICP-AES method by Laboratoire Expert. 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 117 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.

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Amex Exploration is pleased to announce a gold stock investing update. Due to strong investor demands, private investors are increasing their previous bought deal placement.

TORONTO, January 18, 2022 - Amex Exploration Inc. (“Amex” or the “Company”) (TSXV: AMX)”) is pleased to announce that due to strong investor demand, the Company has entered into an amendment agreement with PI Financial Corp. (“PI Financial”), pursuant to which to which a syndicate of underwriters led by PI Financial (collectively, the "Underwriters") have agreed to increase the size of the previously announced bought deal private placement to an aggregate of 8,950,000 flow-through shares (the “Flow-Through Shares”) at a price per Flow-Through Share of C$4.82 (the “Issue Price”), for gross proceeds of C$43,139,000 (the "Offering").

The Flow-Through Shares will qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Québec)).

The Company has also granted the underwriters an option to purchase up to an additional 15% Flow-Through Shares to cover over-allotments, exercisable in whole or in part at any time prior to the closing date of the Offering. 

The gross proceeds from the sale of the Flow-Through Shares will be used for general exploration expenditures on Amex’s properties located in Quebec.

The Offering is scheduled to close on or about February 17, 2022, or such other date as agreed between the Company and the underwriters, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Venture Exchange.

In connection with the Offering, the underwriters will receive on closing of the Offering a cash commission of 6.0% of the gross proceeds of the Offering, other than for purchasers on a president’s list, for which a cash fee of 3.0% of the aggregate proceeds of the Flow-Through Shares will be paid. The same commission shall be paid to the underwriters in connection with any Flow-Through Shares issued or sold pursuant to the exercise of the underwriters’ option.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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 117 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 statements which may constitute “forward-looking statements” and “forward looking information” within the meaning of applicable securities laws, including statements regarding the completion of the Offering and the use of proceeds. 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 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 obtain any necessary regulatory approvals, the termination of the agreement governing the Offering, 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.

Amex Exploration is pleased to announce a financing update: They have a 33.7 million bought deal private placement from PI Financial Corp.

TORONTO, January 17, 2022 - Amex Exploration Inc. (“Amex” or the “Company”) (TSXV: AMX) is pleased to announce that it has entered into an agreement with PI Financial Corp. on behalf of a syndicate of underwriters (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a "bought deal" private placement basis, 7,000,000 flow-through common shares (the “Flow-Through Shares”) of the Company, at a price per Flow-Through Share of $4.82 (the “Issue Price”), for gross proceeds of C$33,740,000 (the "Offering").

The Flow-Through Shares will qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Québec)).

The Company has also granted the underwriters an option to purchase up to an additional 15% Flow-Through Shares to cover over-allotments, exercisable in whole or in part at any time prior to the closing date of the Offering. 

The gross proceeds from the sale of the Flow-Through Shares will be used for general exploration expenditures on Amex’s properties located in Quebec.

The Offering is scheduled to close on or about February 15, 2022, or such other date as agreed between the Company and the underwriters, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Venture Exchange.

In connection with the Offering, the underwriters will receive on closing of the Offering a cash commission of 6.0% of the gross proceeds of the Offering, other than for purchasers on a president’s list, for which a cash fee of 3.0% of the aggregate proceeds of the Flow-Through Shares will be paid. The same commission shall be paid to the underwriters in connection with any Flow-Through Shares issued or sold pursuant to the exercise of the underwriters’ option.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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 117 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 statements which may constitute “forward-looking statements” and “forward looking information” within the meaning of applicable securities laws, including statements regarding the completion of the Offering and the use of proceeds. 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 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 obtain any necessary regulatory approvals, the termination of the agreement governing the Offering, 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.

Gold mine exploration company Amex Exploration is pleased to provide a review of 2021 accomplishments and gold mine exploration plans for 2022.

Montreal, Quebec--(Newsfile Corp. - January 5, 2022) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to provide a review of its 2021 accomplishments and exploration plans and goals for 2022.

On the corporate front, the Company ended the year in a strengthened financial position with the full exercise of all remaining warrants, adding $7 million to the treasury, demonstrating continued shareholder support and confidence. Additionally, Amex Exploration was named to 2021 OTCQX Best 50, a ranking of top performing companies traded on the OTCQX. As part of its ongoing focus on Environmental, Social, and Governance (ESG), Amex strengthened the Board of Directors through the appointment of Bryan Coates as Lead Independent Director and election of Dr. Luisa Morena as Independent Director.

On the exploration front, the drill bit continued to add value throughout 2021 (see Figure 1 and Table 1). Additional highlights from the year included:

  • Three significant new discoveries were made on the Perron property.
    • A copper rich volcanogenic massive sulfide (VMS) discovery (QF Zone) was made along the Normétal Mine Horizon where the company intersected 2.40% Cu, 0.72% Zn, 0.27 g/t Au and 22.15 g/t Ag over 7.80 m. Follow up drilling has confirmed the initial discovery with similar grades and widths, indicating the presence of a substantial VMS system. Defining and expanding upon this system will be a part of the exploration program in 2022.
    • A new high-grade gold structure located 650 m north-west of the High Grade Zone (HGZ), the Alizee Zone, returning 31.87 g/t Au over 5.10 m.
    • An additional high-grade gold structure, the 210 Gold Zone, was discovered on the Normétal Fault, with the discovery interval returning 58.25 g/t Au over 3.90 m.
  • The Denise Gold Zone surpassed expectations showing large zones of broad near-surface gold mineralization and continuity. The Denise Zone has now been defined to a depth of 700 m and 500 m along strike and the geology indicates probability to expand to the east near surface.
  • At the High Grade Zone (HGZ) Amex demonstrated exceptional high-grade gold continuity down to a depth of 1.35 km. The Company also reported the highest grade individual assay at Perron of 929.24 g/t Au over 0.50 m at a depth of 290 m in hole PE-21-344.

Table 1 - Top 20 drill holes announced in 2021 based on gold metal factor

Hole ID From (m) To (m) Length (m) Au (g/t) Zone Metal Factor (g*m)
PE-21-386W1 939 945.1 6.1 102.07 HGZ 622.6
PE-21-344 320.8 326.95 6.15 79.22 HGZ 487.2
PE-21-329 228.9 242 13.1 36.86 HGZ 482.9
PE-21-391 213.9 219.5 5.6 84.02 HGZ 470.5
PE-21-337 255.2 300 44.8 8.25 Denise 369.6
PE-21-367 211.1 226 14.9 21.75 HGZ 324.1
PE-21-409 374.9 381.8 6.9 43.74 HGZ 301.8
PE-21-313 180 183.9 3.9 70.92 HGZ 276.6
PE-21-383W1 538.5 542 3.5 76.61 HGZ 268.1
PE-21-318 1207.15 1215.55 8.4 29.62 HGZ 248.8
PE-21-301 1054.4 1063.25 8.85 27.06 HGZ 239.5
PE-21-392 297.5 304.05 6.55 36.02 HGZ 235.9
PE-21-287 1175.8 1182 6.2 37.59 HGZ 233.1
PE-20-210 108.8 112.7 3.9 58.25 210 227.2
PE-21-338 201.4 216.25 14.85 15.18 HGZ 225.4
PE-21-321 149.6 156 6.4 32.91 HGZ 210.6
PE-21-413 338.2 340 1.8 102.43 HGZ 184.4
PEX-21-041 288.6 293.7 5.1 31.87 Alizee 162.5
PE-20-230 634.1 642.5 8.4 17.89 HGZ 150.3
PE-20-207W2 902.5 907 4.5 32.99 HGZ 148.5

 

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Figure 1 - Gold Corridor at Perron ending 2021. White arrows represent near-term expansion targets. Pink spheres represent individual assays better than 20 g/t Au.

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In 2021, the Company completed a total of 129,310 m of drilling. The focus was on the expansion and definition drilling of HGZ and near surface, on strike expansion and definition drilling of the Denise Zone as well as regional exploration drilling. There are currently a number of pending samples at two labs from holes targeting the HGZ, Denise, QF and Grey Cat Zone, as well as regional exploration drilling.

Exploration Plans and Corporate Goals for the coming year

  • Test the expansion potential of the Denise Zone along strike for up to 1.5 km to the east, where limited drilling has occurred and gold mineralization has been encountered.
  • Continue to define the HGZ to a resource level to a depth of approximately 1 km.
  • Further define and explore the QF VMS Zone.
  • Report on regional exploration program and determine potential to make additional gold and VMS discoveries on Perron.
  • Complete a maiden resource on the Perron Project in H2.
  • Set and report on ESG goals for 2022 with a report to be produced during the 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. 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. Base metal and gold analysis are provided by ALS Canada Ltd. with similar QAQC protocol. Gold values are estimated by fire assay with finish by atomic absorption. Zinc, Copper and Silver values are estimated by four acid digestion multi elements Inductively Coupled Plasma - Atomic Emission Spectroscopy (ICP-AES), ME-ICP61. Zinc values over 1%, copper values over 1% and silver values over 100 g/t are estimated by four acid digestion ICP-AES, OG62. 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 117 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.

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Amex Exploration is annoucing regional exploration program updates for their gold mine exploration, including 58 drill holes focusing on new areas of gold mineralization on their Perron Property.

Highlights include:

  • E2 GOLD ZONE (new zone)
    • PEX-20-034 returned 5.58 g/t Au over 13.85 m including 136.02 g/t Au over 0.55 m
    • PEX-21-066 returned 4.54 g/t Au over 8.45 m
  • GOLD-COPPER DONNA ZONE (new zone)
    • PE-21-318W1 returned 1.37 g/t Au and 0.25 % Cu over 56.00 m including 3.59 g/t Au and 0.72 % Cu over 14.70 m
    • PE-21-318 returned 0.79 g/t Au and 0.24 % Cu over 29.15 m
    • PE-21-318W2 returned 0.89 g/t Au and 0.20% Cu over 16.00 m
  • E3 GOLD ZONE (new zone)
    • PEX-20-003 returned 0.75 g/t Au over 33.80 m
  • UPPER HIGH GRADE ZONE (new zone)
    • PE-20-207W1 returned 18.79 g/t Au over 1.05 m
    • PE-20-190 returned 1.01 g/t Au over 17.20 m
    • PE-20-186A returned 4.08 g/t Au over 3.50 m
  • 210 GOLD ZONE (follow-up drilling)
    • PE-20-229 returned 1.12 g/t Au over 19.50 m
    • PE-21-280 returned 2.39 g/t Au over 9.00 m
    • PE-21-301 returned 0.82 g/t Au over 15.00 m
  • ALIZEE GOLD ZONE (follow-up drilling)
    • PEX-21-049 returned 7.62 g/t Au over 2.15 m
  • WESTERN PERRON (regional exploration drilling)
    • PEX-21-054 returned 3.18 g/t Au over 4.50 m
    • PEX-21-065 returned 2.56 g/t Au over 3.30 m
    • PEX-21-011 returned 3.09 g/t Au over 1.70 m

Montreal, Quebec--(Newsfile Corp. - January 11, 2022) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce a total of 58 drill holes focused on new areas of gold mineralization on the Perron project ("Perron" or the "Project"). See Figure 1 for a plan view of the geology of Perron and all currently known mineralized zones.

Today's results are focused on a number of new discoveries of gold and copper as well as follow-up drilling on the previously announced 210 (February 17, 2021) and Alizee (January 25, 2021) Gold Zones. These results represent regional exploration drilling as well as mineralization identified up-hole during definition and expansion drilling of known gold zones on the Perron Project. A complete list of results is available in Tables 1 through 7 and presented in Figures 1 through 4. All drilling data for the Perron project, including collar, survey, and individual assays, is available in the Amex data room at https://amexexploration.com/properties/quebec-exploration-perron-property/drill-data-room. In addition to the results presented below, Amex also announces that drilling has resumed on January 3rd with 8 drills currently operating across the Project with plans to expand to up to 11 drills during the winter months.

Jacques Trottier, PhD, Executive Chairman of Amex Exploration, commented, "The Perron project has historically shown a strong gold signature within the Beaupre Rhyolite Block. The results presented today further validate the gold potential of the entire Beaupre area and we are seeing gold mineralization occurring in a variety of orientation and mineralization styles. This further confirms our expectations that as we continue to advance our exploration of this strongly endowed gold system, we will continue to make additional gold discoveries and expand upon the known mineralized horizons."

Trottier continued, "The E2 Gold zone is of great significance for Amex as it has the potential to add ounces per vertical metre in close proximity to the High Grade Zone. As we have seen at the High Grade Zone we are hopeful that the strike and grade will increase at E2 as we get deeper into the system. Our regional exploration program has been a complete success by any measure and the areas highlighted in this release all warrant follow-up work."

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Figure 1: Plan view of the geology of the Perron Project and all known mineralized zones, including the new zones announced today in red text.

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E2 Gold Zone

The E2 Gold zone ("E2") represents one of the most significant new discoveries on the Perron Project since the discovery of the High Grade Zone ("HGZ") in 2018 (Figure 2). The E2 zone was discovered by stepping out to the East along the same structure that hosts the bonanza mineralization of the HGZ. Mineralization identified to date is very similar to the HGZ, with a repetition of a mineralized hanging wall vein, a largely unmineralized narrow mafic sill, and a mineralized footwall vein. Sulfide minerals are also very similar, with sphalerite being the most common sulfide associated with gold mineralization, along with lesser pyrite. Visible gold has been identified in several drillholes. Of particular importance is the projected plunge of the mineralization. The E2 zone is situated approximately 500 metres to the East of the HGZ, and the projected plunge of mineralization (based on drillholes to date) appears to be similar to that of the HGZ, plunging to the East-Northeast at approximately ~70 degrees (Figure 3). This is important as it represents a possible repeating ore shoot along the same structure as the HGZ. Expanding upon the E2 zone and testing its down-plunge grade and continuity is one of Amex's top priorities for the ongoing winter drilling program.

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Figure 2: Plan view of the geology of the Eastern Gold Zone to E3 Gold Zone and all known mineralized zones, including the new zones announced today.

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Figure 3: Longitudinal section of the HGZ and E2 Gold Zone, with today's released hole locations in green labelled on the longitudinal. Assay results are presented in core length (m). True width is approximately 70-80% of reported intercepts. Metal factor is defined as gold grade multiplied by core length.

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Table 1: Assay results from the new E2 Gold Zone at Perron

Zone Hole From (m) To (m) Length (m) Au (g/t) Gold Metal Factor (g/t*m)
E2 PEX-20-034 150.00 163.85 13.85 5.58 77.28
including 151.40 151.95 0.55 136.02 74.81
PEX-21-066 226.25 234.70 8.45 4.54 38.34
including 228.30 228.80 0.50 70.00 35.00
and 97.50 98.00 0.50 23.30 11.65
PEX-21-062 295.45 297.55 2.10 5.08 10.67
PEX-21-078 79.50 80.20 0.70 12.30 8.61
PEX-21-061 148.50 157.30 8.80 0.77 6.81
PEX-21-077 86.90 91.00 4.10 1.21 4.96
PEX-21-079 56.95 58.40 1.45 3.38 4.90
PEX-20-032 177.25 178.30 1.05 4.34 4.55
PEX-20-031 169.40 169.90 0.50 5.01 2.51
PEX-20-035 205.80 206.80 1.00 1.44 1.44

 

*Note that drill results are presented uncapped and lengths represent core lengths. Metal factor is defined as gold grade multiplied by core length.

Gold-Copper Donna Zone

The Gold-Copper Donna Zone ("Donna") discovery occurs immediately north of the HGZ at depth (Figure 2). It was discovered during deep expansion drilling of the HGZ. The mineralization identified, which is similar in each of the three holes reported, consists of highly chlorite-garnet-amphibole altered rhyolite which hosts centimetre-scale stringers of chalcopyrite-pyrrhotite. The correlation between gold and copper is quite strong. Amex has completed a borehole electromagnetic survey on this new discovery and is planning follow-up drilling to be completed in the coming months.

Table 2: Assay results from the new Gold-Copper Donna Zone at Perron

Zone Hole From (m) To (m) Length (m) Au (g/t) Cu (%) Gold Metal Factor (g/t*m)
Donna PE-21-318W1 1123.00 1179.00 56.00 1.37 0.25 76.72
including 1141.50 1156.20 14.70 3.59 0.72 48.76
PE-21-318 1164.50 1193.70 29.15 0.79 0.24 23.03
PE-21-318W2 1153.50 1169.50 16.00 0.89 0.20 14.24

 

*Note that drill results are presented uncapped and lengths represent core lengths. Metal factor is defined as gold grade multiplied by core length.

Alizee Gold Zone

The Alizee Gold Zone ("Alizee") was previously announced as a discovery by Amex on January 25, 2021 with hole PEX-21-041 returning 22.44 g/t Au over 7.30 m. The results below are from follow-up drilling on the discovery hole (Figure 1). Gold mineralization at Alizee is associated with quartz veining, quartz-carbonate breccias, silica flooding and strong chlorite-carbonates-biotite alterations, along with sphalerite, pyrite, trace chalcopyrite, and occasionally visible gold. Amex is reviewing the data and planning follow-up drilling to be completed in the coming months.

Table 3: Assay results from follow-up drilling of the Alizee Zone at Perron

Zone Hole From (m) To (m) Length (m) Au (g/t) Gold Metal Factor (g/t*m)
Alizee PEX-21-049 180.85 183.50 2.15 7.62 16.38
PEX-21-045 286.00 287.50 1.50 2.05 3.08
PEX-21-040 319.00 319.60 0.60 1.71 1.03

 

*Note that drill results are presented uncapped and lengths represent core lengths. Metal factor is defined as gold grade multiplied by core length.

E3 Gold Zone

The E3 Gold Zone ("E3") was discovered during regional drilling to the East of the HGZ, similar to the E2 zone (Figure 1). Amex completed systematic step out drilling along the structural corridor that hosts the Eastern Gold Zone which resulted in the discovery of the E3 zone, which is approximately 800 metres east of the HGZ (Figure 2). Gold mineralization is typical to that of Perron. Gold is hosted within quartz veins and veinlets in the altered Beaupre rhyolite, and associated with red sphalerite and pyrite mineralization.

Table 4: Assay results from the new E3 Gold Zone at Perron

Zone Hole From (m) To (m) Length (m) Au (g/t) Gold Metal Factor (g/t*m)
E3 PEX-20-003 76.00 109.80 33.80 0.75 25.35
including 108.30 109.80 1.50 12.51 18.77
PEX-20-024 176.00 176.50 0.50 10.47 5.24

 

*Note that drill results are presented uncapped and lengths represent core lengths. Metal factor is defined as gold grade multiplied by core length.

210 Gold Zone

The 210 Gold Zone ("210") is located proximal to and south of the northern Normetal fault zone, which is one of two kilometric thrust faults located on the Perron project (Figures 1 and 2). The 210 zone was originally announced as a discovery on February 17, 2017 with hole PE-20-210 returning 58.25 g/t Au over 3.90 m. The below announced holes represent follow-up drilling to this discovery hole. The identified mineralization is located approximately 650 m north-east of the HGZ in an area that has seen limited exploration. Conveniently, Amex is able to test the near-surface portion of the 210 zone during deep definition drilling of the HGZ owing to its location. Gold mineralization is hosted within quartz veining in sodic rhyolite of the Beaupre Block.

Table 5: Assay results from follow-up drilling of the 210 Gold Zone at Perron

Zone Hole From (m) To (m) Length (m) Au (g/t) Gold Metal Factor (g/t*m)
210 PE-20-229 95.90 115.40 19.50 1.12 21.84
including 95.90 96.65 0.75 12.13 9.10
PE-21-280 88.50 97.50 9.00 2.39 21.51
including 96.25 97.50 1.25 14.28 17.85
PE-21-301 69.00 84.00 15.00 0.82 12.30
PE-21-272A 67.15 67.65 0.50 18.45 9.23
PE-20-219 106.50 108.00 1.50 4.29 6.44

 

*Note that drill results are presented uncapped and lengths represent core lengths. Metal factor is defined as gold grade multiplied by core length.

Upper High Grade Zone

The Upper High Grade Zone ("UHGZ") is situated approximately 200 metres north of the HGZ (Figures 2 and 4). Of interest is the orientation of the UHGZ, which trends to the West-Northwest, at an angle of approximately 30 degrees away from the orientation of the HGZ. The UHGZ is often hosted by or proximal to a swarm of narrow mafic sills/dikes, and mineralization is associated with quartz veining, pyrrhotite, pyrite, sphalerite, and visible gold mineralization. Owing to its location and proximity to the HGZ, Amex is able to continue testing the UHGZ through its definition and expansion drilling program on the HGZ.

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Figure 4: Longitudinal section of the Upper HGZ, with today's released hole locations in green labelled on the longitudinal. Assay results are presented in core length (m). True width is approximately 65-80% of reported intercepts. Metal factor is defined as gold grade multiplied by core length.

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Table 6: Assay results from the new Upper High Grade Gold Zone at Perron

Zone Hole From (m) To (m) Length (m) Au (g/t) Gold Metal Factor (g/t*m)
UHGZ PE-20-207W1 643.75 644.80 1.05 18.79 19.73
PE-20-190 625.00 642.20 17.20 1.01 17.37
including 626.00 626.50 0.50 12.94 6.47
and including 641.70 642.20 0.50 14.81 7.41
PE-21-347 777.65 778.15 0.50 31.33 15.67
PE-20-186 116.80 120.00 3.20 4.41 14.12
including 117.30 117.80 0.50 26.02 13.01
PE-21-386W1 603.80 604.30 0.50 27.87 13.94
PE-20-186A 105.30 108.80 3.50 4.08 14.28
including 106.80 107.30 0.50 24.65 12.33
PE-21-287 972.90 989.50 16.60 0.82 13.61
including 972.90 973.50 0.60 13.32 7.99
PE-21-347W1 822.80 823.40 0.60 20.37 12.22
PE-21-287W1 960.25 980.60 20.35 0.57 11.60
including 960.25 960.75 0.50 10.97 5.49
PE-21-301W2 808.50 815.10 6.60 1.64 10.82
including 809.35 809.85 0.50 15.43 7.72
PE-20-178 521.65 522.15 0.50 21.10 10.55
PE-20-197 875.25 891.70 16.45 0.53 8.72
PE-20-224W2 519.15 520.15 1.00 7.84 7.84
PE-21-347W2 773.50 774.00 0.50 13.84 6.92
and 823.50 824.00 0.50 13.03 6.52
PE-21-404 827.00 831.50 4.50 1.27 5.72
PE-21-300 558.50 559.00 0.50 11.00 5.50
PE-20-226 103.50 106.00 2.50 2.12 5.30
PE-21-272 731.20 731.70 0.50 9.99 5.00
PE-21-294 387.10 587.60 0.50 9.35 4.68
PE-21-301W1 810.55 811.20 0.65 7.11 4.62
and 844.20 844.70 0.50 6.51 3.26
PE-20-171 452.00 452.50 0.50 9.21 4.61
PE-20-190W1 610.70 611.20 0.50 6.45 3.23
PE-20-185 768.50 769.00 0.50 6.44 3.22
PE-20-197W2 809.45 812.50 3.05 1.05 3.20
PE-20-207W2 583.50 584.00 0.50 5.45 2.73
PE-21-434 914.90 915.40 0.50 4.51 2.26
PE-21-417 394.90 395.45 0.55 3.33 1.83
PE-20-231 38.85 39.60 0.75 2.38 1.79
PE-21-404W1 828.20 828.70 0.50 3.40 1.70
PE-21-301 808.20 808.70 0.50 3.25 1.63
and 838.00 838.50 0.50 4.32 2.16
PE-21-248W1 493.60 494.10 0.50 1.91 0.96
PE-21-404W2 815.00 815.50 0.50 1.63 0.82

 

*Note that drill results are presented uncapped and lengths represent core lengths. Metal factor is defined as gold grade multiplied by core length.

Regional Drilling at Western Perron

Amex has identified several new areas of gold mineralization in the western portion of the Beaupre block, in which very limited drilling has occurred historically due to limited access. The results presented below indicate the gold potential in the western block, and Amex plans to follow up on the below as well as test additional gold targets.

Table 7: Assay results from the regional drilling at Western Perron

Zone Hole From (m) To (m) Length (m) Au (g/t) Gold Metal Factor (g/t*m)
West Regional PEX-21-054 94.00 98.50 4.50 3.18 14.31
PEX-21-065 80.50 83.80 3.30 2.56 8.45
PEX-20-011 200.10 201.80 1.70 3.09 5.25
including 201.30 201.80 0.50 8.52 4.26

 

*Note that drill results are presented uncapped and lengths represent core lengths. Metal factor is defined as gold grade multiplied by core length.

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. Samples discussed in the press release were sent to Laboratoire Expert (Rouyn-Noranda) and AGAT Laboratories (Mississauga) for regional drilling 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 sample. For both laboratories, 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. Samples containing visible gold mineralization are analyzed by metallic sieve and just performed by Laboratoire Expert. 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. Copper and other elements were analyzed using the four-acid ICP-AES method by Laboratoire Expert. 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 117 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/109603