Amex Gold Mining Advances Perron Decline Beyond 75 Metres as Site Infrastructure Takes Shape

• More than 75 metres of underground decline development completed at the Perron Gold Project in Quebec.
• Underground development continues towards the high-grade Champagne Zone under a permitted 40,000-tonne bulk sample programme.
• Construction of a permanent mechanical shop has commenced.
• Right-of-way clearing for a 25 kV power line is complete, with pole installation expected to start in the coming weeks.
• Water treatment, laydown areas and surface services continue to be developed alongside engineering for further infrastructure.

Amex Gold Mining Inc. (TSXV:AMX) is a Canada-based gold exploration and development company focused on its 100%-owned Perron Gold Project in the Valcanton territory of northern Quebec, about 110 kilometres north of Rouyn-Noranda. The company has made high-grade gold discoveries at Perron, along with copper-rich volcanogenic massive sulphide (VMS) zones, which are metal-rich deposits formed by ancient seafloor volcanic activity. The project covers 183 contiguous claims over 65.72 km², and together with the adjoining Perron West, Abbotsford and Hepburn projects in Ontario, forms a land package of 570.94 km². Perron is accessible by a year-round road, lies 30 minutes from an airport and about 6.5 kilometres from the Town of Normétal, and is located near several processing plants owned by major gold producers.

Underground Decline Development Advancing Beyond 75 Metres Toward High-Grade Champagne Zone at Perron Bulk Sample Programme

Following completion of the portal, the entrance to the underground workings, Amex has advanced the decline more than 75 metres underground. A decline is a sloped tunnel that gives equipment and personnel access to the mineralised zones, and it is being developed towards the high-grade Champagne Zone.

The work forms part of the company's permitted 40,000-tonne bulk sample programme. A bulk sample involves mining and processing a large volume of rock to test how a deposit performs under actual mining conditions. The programme is designed to provide information on underground mining conditions, grade continuity (how consistently gold is distributed), dilution (waste rock mixed with ore), mining recovery and metallurgical performance, which refers to how effectively gold can be extracted during processing. The bulk sample follows the Phase 1 feasibility study for Perron that Amex announced on 13 April 2026.

President and CEO Victor Cantore said:

"Reaching the first 75 metres of underground development is another important milestone for Perron. Since commencing underground development, we have continued to make steady progress below surface while simultaneously advancing several important infrastructure projects at site."

Mechanical Shop Construction Commenced and 25kV Power Line Right-of-Way Cleared Supporting Permanent Site Infrastructure

Construction of the mechanical shop has commenced at Perron. The facility will provide permanent infrastructure to support underground equipment and site activities.

Clearing of the right-of-way, the land corridor set aside for the route of the 25 kV power line, has been completed. Installation of the power line poles is expected to begin in the coming weeks.

Both projects form part of a broader effort to establish the infrastructure required at Perron in stages while the bulk sample advances.

Progressive Surface Infrastructure Development Establishing Operational Platform for Continued Bulk Sample Programme Advancement

Amex continues to operate and optimise the water treatment infrastructure at Perron, which manages water collected on site and from the underground workings.

Development is also ongoing for laydown areas, which are cleared spaces used to store equipment and materials, as well as the surface services required to support underground activities. Planning and engineering for additional infrastructure at the site are continuing.

President and CEO Victor Cantore said:

"With construction of the mechanical shop underway, the power line right-of-way cleared, and pole installation expected to begin shortly, the Perron site continues to evolve rapidly. We remain focused on safely and efficiently executing the bulk sample program while progressively putting in place the infrastructure required to support the project's continued development."

Milestones and Next Steps

With portal construction complete and more than 75 metres of decline developed, Amex will continue advancing underground towards the Champagne Zone. Near-term work includes completing the mechanical shop, beginning power line pole installation in the coming weeks and continuing engineering for additional site infrastructure. Results from the bulk sample are expected to inform the continued development of the Perron Gold Project.

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