Amex Gold Mining Appoints CMAC-Thyssen as Underground Contractor for Perron Bulk Sample Program

• Amex Gold Mining has retained CMAC-Thyssen Mining Group as the underground mining contractor for the 40,000-tonne bulk sample program at the Perron Gold Project in northwestern Quebec.
• CMAC's mobilisation is expected to begin in late July 2026, with underground development starting shortly after.
• The contractor was chosen following a competitive tender process that assessed technical capability, safety performance, project execution strategy and cost competitiveness.
• CMAC will manage all underground activities for the bulk sample, including ramp development, ground support, drilling, blasting, and ore extraction.
• Surface infrastructure work, including portal construction and electrical systems, continues in parallel with the contractor appointment.

Amex Gold Mining Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) is a Canada-based gold exploration and development company advancing its wholly owned Perron Gold Project, located roughly 110 kilometres north of Rouyn-Noranda, Quebec, through exploration, feasibility and, now, underground development. The project hosts high-grade gold mineralisation alongside copper-bearing volcanogenic massive sulphide (VMS) zones, and spans 183 claims covering 65.72 square kilometres, extending to 570.94 square kilometres when combined with the neighbouring Perron West, Abbotsford and Hepburn projects. Perron benefits from a year-round road, an airport approximately 30 minutes away, and proximity to the town of Normétal, roughly 6.5 kilometres distant.

CMAC-Thyssen Mining Group Appointed as Underground Mining Contractor for Perron 40,000-Tonne Bulk Sample Program

Amex Gold Mining has retained CMAC-Thyssen Mining Group as the underground mining contractor for the Perron bulk sample program. CMAC is a Quebec-headquartered contractor with more than 30 years of experience in mine development, mine construction, production mining, shaft sinking and raise boring (a method used to bore vertical or inclined tunnels underground). The firm has completed underground projects for major mining companies across North America and has also worked internationally in Africa.

The appointment followed a competitive tender process involving several underground mining contractors. Amex evaluated candidates on technical capability, safety performance, project execution strategy, management experience, local presence, commercial competitiveness and the ability to support the company's development schedule.

Under the agreement, CMAC will operate under Amex's supervision and be responsible for all underground work tied to the bulk sample, including ramp development, mine services, ground support installation, production drilling and blasting, and loading and hauling of material.

Amex Gold Mining President and Chief Executive Officer Victor Cantore said:

"The appointment of CMAC represents another major milestone as Perron continues to transition from exploration toward development. Throughout our evaluation process, CMAC distinguished itself through its extensive underground mining experience, strong safety culture, technical capabilities and proven ability to execute complex underground projects efficiently."

Underground Ramp Development and Mining Activities Scheduled to Commence Following Late July 2026 Mobilization

CMAC's underground mining team is expected to mobilise to the Perron site in late July 2026, with initial underground development work following shortly after. The bulk sample program is designed to extract 40,000 tonnes of material.

The program is intended to provide operational, technical and metallurgical information, confirm assumptions incorporated into the feasibility study completed in April 2026, validate planned mining methods, and support future mine planning.

CMAC-Thyssen Mining Group President and Chief Executive Officer Luc Guimond commented:

"We are proud to have been selected by Amex as its mining partner for the Perron bulk sample program. Perron is an exciting high-grade gold project, and we appreciate the confidence Amex has placed in our team. Our focus will be on delivering the project safely, efficiently, and collaboratively while building a strong partnership with Amex and all project stakeholders. Beyond executing the underground work, we recognize the importance of creating lasting benefits in the region. We are committed to working closely with local communities and the Abitibiwinni First Nation, maximizing local procurement opportunities wherever possible, and building a workforce that includes local talent. We believe that successful mining projects are built not only on technical excellence and safety, but also on strong relationships and meaningful economic participation for the communities that host them." 

Continued Advancement of Surface Infrastructure Including Portal Construction and Electrical Distribution Systems

Alongside the contractor appointment, Amex continues to advance the surface infrastructure required for the bulk sample program, including electrical distribution, water management systems, surface facilities and contractor mobilisation activities.

Portal construction is progressing on schedule, with the first portal blast expected in mid-July 2026, to be followed by the start of underground development.

Mr. Cantore added:

"Equally important, CMAC shares our commitment to working collaboratively with local communities and building a project that delivers long-term benefits to the region. As we continue advancing Perron, we are pleased to welcome an experienced partner that shares our values of safety, operational excellence and responsible project development."

Milestones and Next Steps

The near-term milestones for the Perron bulk sample program are CMAC's mobilisation in late July 2026, the first portal blast expected in mid-July, and the subsequent start of underground ramp development. These activities follow the completion of the Perron feasibility study in April 2026 and represent the project's move from surface preparation into underground construction.