Progressing Towards Maiden Resource and PEA at Amex Exploration

• Amex Exploration is advancing the project towards a maiden resource estimate and preliminary economic assessment (PEA) in Q1 2023. They have brought on a technical team including mining engineers and environmental consultants.
• Drilling has resumed after a pause due to forest fires. New road construction by the government has opened up additional exploration areas.
• Financially, Amex has $12.4 million as of June 30, 2022 plus additional $4.4 million in flow-through funds to be spent by December 31st. They can control the burn rate as needed.
• The high-grade zone has shown continuous mineralization that can likely be extracted through an underground ramp access. The technical team will assess the easiest mining method.
• Amex is taking a dual-track approach with continued exploration drilling in parallel with the technical/economic studies for development. The goal is to appeal to potential strategic partners.

About Amex Exploration

Amex Exploration Inc. is a junior mining company focused on the exploration and development of gold projects in mining-friendly jurisdictions. The company’s main asset is its 100% owned Perron Gold Project located in northwestern Quebec, Canada.

Amex Exploration is led by President and CEO Victor Cantore, who has been with the company for around 5 years. The Perron Project consists of over 15,500 hectares of prospective ground with multiple high-grade gold discoveries made to date. Significant ongoing exploration activity and a clear path towards maiden resource and PEA continue to demonstrate the exciting potential of the project. As of June 30, 2022, the company had approximately C$12.4 million in cash.

Interview with Victor Cantore, President & CEO of Amex Exploration Inc.

Continued Exploration Success

Despite some disruption from forest fires in the area, exploration has continued at pace with 5 drill rigs operational. Recent drilling continues to deliver high-grade gold intercepts and has expanded mineralization outside of the known high grade zones. The company maintains its focus on new discoveries alongside resource delineation drilling, with highly prospective untested targets remaining across the large land package.

According to CEO Victor Cantore, the high grade core of the deposit exhibits continuity of very high grades and has the potential to be mined cost effectively with a ramp. Mine planning and economic study work is underway to determine optimal development scenarios.

Dual Track Strategy

Amex has assembled an experienced team to work towards delivering a maiden resource and Preliminary Economic Assessment (PEA) targeted for Q1 2023. At the same time, the exploration team continues their efforts to grow resources and make new discoveries.

The development team includes mining engineers, resource geologists and environmental consultants with track records of advancing and permitting Quebec projects. Ongoing drilling will provide infill data to increase confidence in existing resources, as well as step-out holes testing for additional mineralization.

Well Funded for Development and Exploration

With approximately C$12.4 million in cash on June 30 and an additional C$4.4 million in expected government payments, Amex Exploration is funded through 2023 based on current burn rates. The bulk of remaining 2022 flow through funds (C$6-7 million) must be spent by year-end, ensuring continued active exploration.

The company maintains flexibility on capital deployment across its dual track initiatives. Additional funding can be raised opportunistically if desired to accelerate activities. At current gold prices above C$1,900/oz, CEO Victor Cantore sees ongoing healthy margins for efficient gold producers.

Conclusion

With continued exploration success, clear permitting and development plans underway, and a strong cash position, Amex Exploration represents an attractive investment opportunity as they systematically de-risk and advance their Perron gold project. Pending maiden resource and economic studies in early 2023 provide upcoming catalysts for shareholder value growth.