Amex Exploration Receives Quebec Discovery of the Year Award for Perron Gold Property

• Amex Exploration awarded Discovery of the Year by Quebec Mineral Exploration Association for discovery at Perron Gold Property in Quebec's Abitibi Greenstone Belt
• Gold Mineral Resource Estimate totals 1.615 million ounces of Measured & Indicated at 6.14 g/t Au, plus 698,000 ounces of Inferred at 4.31 g/t Au
• Preliminary Economic Assessment shows pre-tax internal rate of return of 148.7%, net present value of C$3.2 billion, and 0.2-year payback period at US$3,400/oz gold
• Property includes multiple high-grade gold zones, including the Champagne Zone
• Discovery has generated increased exploration activity in the surrounding region

Amex Exploration Inc. (TSXV: AMX) is a mineral exploration company with high-grade gold discoveries at its wholly owned Perron Gold Project, located approximately 110 kilometres north of Rouyn-Noranda, Quebec. The property consists of 135 contiguous claims covering 45.18 square kilometres. When combined with the adjacent Perron West Project in Quebec and Ontario, the total land package spans 197.52 square kilometres. The project is accessible by year-round road, located 20 minutes from an airport, and approximately 8 kilometres from the Town of Normétal.

Discovery of the Year Award Recognition from Quebec Mineral Exploration Association

The Quebec Mineral Exploration Association annually presents the Discovery of the Year award to recognise exploration excellence and new mineral resource identification. The award evaluates projects based on geological continuity, regional significance, and economic potential. The association noted that the award recognises discoveries generating significant exploration activity on the property and in the surrounding region.

Amex received the award for its discovery on the Perron Gold Property in northwestern Quebec.

Victor Cantore, President and CEO of Amex Exploration, stated:

"We are deeply honoured to receive this recognition from the QMEA. This award is a testament to the hard work, technical excellence, and vision of our entire exploration team. The Perron discovery continues to inspire renewed exploration interest throughout the Abitibi region, underscoring Quebec's world-class position as a premier mining jurisdiction."

The discovery has contributed to increased regional staking and investment in the Abitibi area. The property is located in the Abitibi Greenstone Belt, a region with established gold mining history.

Perron Gold Property High-Grade Gold Discovery and Exploration Success

The Perron Gold Property has revealed multiple high-grade gold zones. The Champagne Zone contains what the company describes as some of the highest-grade gold intercepts reported in Canada in recent years. The property hosts both bulk-tonnage and high-grade gold mineralisation styles, as well as copper-rich volcanogenic massive sulphide zones.

Amex's drilling programme has outlined a mineralised gold system across the property. The geology is considered prospective for both high-grade gold and volcanogenic massive sulphide mineralisation. The company continues to conduct exploration work to expand the known mineralised zones.

The project's infrastructure includes year-round road access and proximity to processing plants owned by major gold producers in the region. These factors relate to potential future development considerations, though the project remains in the exploration and assessment stage.

Preliminary Economic Assessment Results and Mineral Resource Estimate

The Preliminary Economic Assessment, published in September 2025, outlines the project's potential economics based on a gold price of US$3,400 per ounce. The pre-tax results include an internal rate of return of 148.7%, a net present value (at 5% discount rate) of C$3.2 billion, projected cash flow of C$5.1 billion, and a payback period of 0.2 years.

The Gold Mineral Resource Estimate, completed in May 2025, contains 1.615 million ounces of Measured & Indicated resources at 6.14 g/t Au in 8.18 million tonnes, plus 698,000 ounces of Inferred resources at 4.31 g/t Au in 5.04 million tonnes. The resource estimate provides the basis for the economic assessment figures.

Victor Cantore commented:

"This award reflects the power of perseverance in exploration. We are proud to contribute to the growth and vitality of Quebec's mining industry and look forward to advancing this exciting discovery towards production."

A Preliminary Economic Assessment is an early-stage study, and actual project results may differ from these estimates.

Next Steps

Following the Preliminary Economic Assessment, the company indicated it plans to advance the Perron Gold Project through subsequent development stages. This typically includes more detailed feasibility studies and continued drilling programmes to expand the resource base and convert Inferred resources into higher-confidence categories.

The company has noted its focus on maintaining relationships with local communities, including the Abitibiwinni First Nation, and advancing permitting processes. The project's location provides access to existing infrastructure and proximity to processing facilities in the region.

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