Amex Gold Mining Discovers New Rosé Zone Beneath Financed Perron Ramp, Advances Multi-Zone Drilling

• New Rosé Zone gold discovery located approximately 165 metres directly below Perron's underground ramp, with results including 11.78 g/t Au over 1.80 metres and 8.02 g/t Au over 4.30 metres
• Rosé Zone currently traced across 275 metres of vertical extension and 70 metres of strike length, remaining open in multiple directions
• N110 Zone drill hole PEX-26-319 returned 43.41 g/t Au over 1.20 metres, including 82.70 g/t Au over 0.60 metres
• Inaugural Perron West drill program in Ontario has intersected sulphide mineralization and gold results across several target areas
• Approximately 11,440 assay samples remain outstanding across the Quebec and Ontario drill programs

Amex Gold Mining Inc. (TSXV: AMX) is a Canada-based gold exploration company that has made high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS, a type of metal-rich mineral deposit formed by ancient underwater hot springs) zones, at its wholly owned Perron Gold Project in northern Quebec, approximately 110 kilometres north of Rouyn-Noranda. The property spans 183 claims covering 65.72 square kilometres, and together with the adjoining Perron West, Abbotsford and Hepburn projects in Ontario, Amex's total land holdings extend to 570.94 square kilometres. The site benefits from year-round road access and proximity to an airport, the town of Normétal, and processing facilities operated by major gold producers. 

New Rosé Zone Gold Discovery Returning Up to 11.78 g/t Au Located 165m Below Active Ramp Development at Perron

Amex has identified a new gold-bearing zone at Perron, named the Rosé Zone, positioned approximately 165 metres directly beneath the underground ramp currently being developed for the company's planned bulk sample and future mine. Drilling to date has returned 11.78 g/t Au over 1.80 metres (including 30.86 g/t Au over 0.65 metres) in hole PE-26-908, 8.02 g/t Au over 4.30 metres (including 23.93 g/t Au over 1.15 metres) in hole PE-26-934, and 10.94 g/t Au over 1.20 metres in hole PE-25-878.

The zone's proximity to existing underground infrastructure could allow future drilling of its depth extensions from within the ramp itself, and may require limited additional underground development to access given how close it already sits to current construction. Amex notes that no economic assumptions can be made on this newly identified mineralization until an updated mineral resource estimate and associated economic assessment are completed. The zone remains open at depth; the deepest hole drilled to date, PE-26-950, reached 410 metres and contains visible gold.

Vice President Exploration Aaron Stone said:

"Our 2026 drill program to date has been successful across multiple fronts. The discovery of a new zone in such close proximity to our fully financed ramp development is what truly sets the Rosé zone apart. While it is early days in the life of this discovery, the Rosé zone has the potential to add important ounces to the future proposed operation. The team's initial observations are that the mineralization is hosted within a set of tension veins stemming from a larger structure that may also be controlling the mineralization of the Alizée Zone to the north-northwest. Further drilling and modelling to validate this theory is planned."

The company notes early-stage similarities to the Alizée Zone, where a 2021 discovery hole returned 31.87 g/t Au over 5.10 metres.

Multi-Zone Drilling Update Including High-Grade N110 Intercept of 43.41 g/t Au Over 1.2m and Continued Gratien and Grey Cat Zone Expansion

Amex also reported assay results from other zones at Perron. Hole PEX-26-319 in the N110 Zone intersected 43.41 g/t Au over 1.20 metres, including 82.70 g/t Au over 0.60 metres. All ounces currently identified within the N110 Zone are classified as inferred, an early-stage resource category based on limited drilling, and the company is evaluating follow-up drilling to potentially upgrade this material to a higher confidence category.

Drilling also continued at the Gratien and Grey Cat zones. Amex plans deeper drilling to test both zones at depth; the proposed drill pads are located in swampy terrain, so the company is considering road construction or a winter drilling campaign to access these targets.

A single hole drilled into the Central Polymetallic Zone in 2026, PEG-25-888, returned 4.09% zinc, 0.82 g/t gold and 2.03 g/t silver over 1.50 metres, including 11.35% zinc, 1.38 g/t gold and 3.50 g/t silver over 0.50 metres, at a vertical depth of approximately 675 metres. The zone remains open at depth, with potential for polymetallic grades to increase further down.

Inaugural Perron West Ontario Drill Program Encountering VMS-Style Sulphide Mineralization and Anomalous Gold Results

Amex is running its first drill program on the adjacent Perron West property in Ontario, where alteration patterns observed so far are similar to those seen at the Perron project in Quebec. Initial drilling has been completed in one target area, with work continuing in two others and a fourth still to be tested. Nearly all holes drilled have intersected sulphide mineralization or large quartz veins.

In one target area, hole PW-26-002 intersected a sulphide horizon returning 22.20 g/t silver, 0.29% copper and 0.34% zinc over 1.20 metres. In another target area, holes PW-26-010 and PW-26-012, located roughly a kilometre apart, both returned sulphide mineralization alongside elevated gold values. Amex is working to determine the structural controls on this mineralization.

Amex is also planning a borehole electromagnetic survey across multiple holes at Perron West to help map the extent of the sulphide mineralization identified to date.

Milestones and Next Steps

Amex is planning follow-up drilling at the N110 Zone based on its recent high-grade intercept, while deeper drilling at Gratien and Grey Cat awaits a decision on site access given seasonal ground conditions. At Perron West, drilling continues across the remaining untested target areas, with a borehole electromagnetic survey planned to refine future drill targets. Across both properties, approximately 3,765 samples remain outstanding from the Quebec drill program and 7,675 from the Ontario program, including 1,654 soil samples, which will inform further results as the 2026 program continues.

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