Amex Gold Mining Completes Portal and Begins Underground Development at Perron

• Amex Gold Mining Inc. (TSXV: AMX) has completed portal construction at its 100% owned Perron Gold Project in Quebec
• The first underground ramp blast has been fired, marking the start of underground development at the site
• The ramp is being built to production scale specifications and is designed to reach a vertical depth of approximately 235 metres
• The ramp will provide access to the high-grade Champagne Zone and support a planned 40,000 tonne bulk sample program
• The bulk sample program is intended to provide data on mining conditions, grade continuity, dilution and metallurgical performance

Amex Gold Mining Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) is a Canada-based company focused on its 100% owned Perron Gold Project in northern Quebec, approximately 110 kilometres north of Rouyn-Noranda. The project has returned high-grade gold discoveries along with copper-rich volcanogenic massive sulphide (VMS) mineralisation, a type of ore deposit formed by ancient underwater volcanic activity that can host both gold and base metals. Perron consists of 183 contiguous claims covering 65.72 square kilometres. Combined with the adjacent Perron West, Abbotsford and Hepburn projects in Ontario, the company's total land package covers 570.94 square kilometres. The project has year round road access, is located near an airport, and is approximately 6.5 kilometres from the town of Normétal.

Portal Construction Completed and First Underground Ramp Blast Marking Official Commencement of Underground Development at Perron

Amex Gold Mining has completed construction of the underground portal at its Perron Gold Project, the structure through which workers and equipment access the underground workings. Following completion of the portal, the company's underground mining contractor, CMAC-Thyssen, fired the first blast of the underground ramp, a sloped tunnel used to access deeper sections of the deposit.

The first ramp blast marks the official start of underground development at Perron. The portal and ramp are being built to production scale specifications, meaning their design is intended to support both the current bulk sample program and potential future mine development.

President and CEO Victor Cantore said:

"With the portal complete, we are moving to on-schedule ramp development that will allow us to access the high-grade Champagne Zone. The first blast of the underground ramp is a significant milestone for Amex. The portal and ramp are being built to production-scale specifications, supporting both the bulk sample and future mine development. This work will give our team direct underground access to the deposit and represents an important step in the continued advancement and de-risking of Perron."

Production-Scale Ramp Advancing to 235 Metres Vertical Depth to Access High-Grade Champagne Zone

The underground ramp is designed to reach a vertical depth of approximately 235 metres. It is being constructed to production scale specifications rather than as a smaller exploration tunnel, meaning the same infrastructure built during this phase is intended to remain usable if the project proceeds to mine development.

The ramp's purpose is to provide underground access to the Champagne Zone, described in the release as a high-grade portion of the Perron deposit. Access to this zone will allow the bulk sample program to proceed once the required depth is reached.

Underground development is expected to continue over the coming months as the ramp advances toward the Champagne Zone, with further progress anticipated as construction proceeds.

40,000-Tonne Bulk Sample Program Designed to De-Risk Future Mine Development Through Grade Reconciliation and Metallurgical Testing

Once underground access to the Champagne Zone is established, Amex plans to extract a 40,000 tonne bulk sample, a larger volume of material than a standard drill sample, taken directly from the underground workings. Bulk sampling is used to test how a deposit performs under real mining conditions rather than relying solely on surface drilling results.

The program is designed to provide information on mining conditions, grade continuity, dilution (the extent to which waste rock mixes with ore during mining), reconciliation and metallurgical performance, which relates to how efficiently gold can be recovered during processing.

This information is intended to support future planning and reduce technical uncertainty ahead of any decision on further development at Perron.

Milestones and Next Steps

With portal construction complete and the first underground ramp blast fired, Perron has moved into active underground development. The company expects the ramp to continue advancing toward the Champagne Zone over the coming months, with the 40,000 tonne bulk sample program to follow once underground access to the zone is established. Results from the bulk sample are expected to provide data on grade reconciliation, dilution and metallurgical performance ahead of any future mine development decision.

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