Dr. Jacques Trottier reports

AMEX TO CONSOLIDATE TEAM ZONE WITH 210 AND E3 GOLD ZONES TO FORM A 1.4 KM MINERALIZED CORRIDOR AND ANNOUNCES FURTHER DRILL RESULTS

After continuing to advance Amex Exploration Inc.'s geological understanding on the Perron project, further drilling has identified similarities between the Team zone and the 210 and E3 gold zones, therefore making it logical to combine the three. The consolidated gold zones will retain the name Team zone, which creates one larger mineralized corridor straddling the Normetal fault on the northeastern side of the Beaupre block. The decision is geologically driven as all three zones display remarkable similarity in their lithologies, structures and mineralization style.

The company has released further drill results from these zones (see attached table). With up to 14 known zones across the Perron property, this decision will improve simplicity and will save time in the continuing modelling process and drill data compilation.

Drill highlights include:

• 210 gold zone (which from now will form part of Team zone):
  • PE-22-586 returned 11.50 metres of 4.57 grams per tonne gold, including 3.00 m of 10.72 g/t Au, at a vertical depth of approximately 115 m in the 210 gold zone.
  • PE-23-639 returned 19.10 m of 3.23 g/t Au, including 1.40 m of 29.76 g/t Au, at a vertical depth of approximately 190 m in the 210 gold zone.
• Team zone:
  • PE-23-680 returned 7.30 m of 4.97 g/t Au, including 0.50 m of 54.12 g/t Au, at a vertical depth of approximately 35 m in the Team gold zone.
  • PE-23-702 returned 2.10 m of 23.10 g/t Au, including 0.55 m of 83.98 g/t Au, at a vertical depth of approximately 270 m in the Team gold zone.

Dr. Jacques Trottier, PhD, executive chairman of Amex Exploration, commented: "The combination of these three gold zones is an important milestone on the Perron project. As we've continued to add more drilling into this area and as our modelling work has advanced, it became clear that the three zones were geologically, structurally and spatially related. The larger consolidated Team zone now covers a strike length of approximately 1.4 kilometres and remains open to the northwest, southeast and at depth. Amex plans to add significant metreage to the Team zone as we believe we have only just begun to unlock its value."

Qualified person and quality assurance/quality control

Dr. Jerome Augustin, PGeo, PhD (OGQ 2134), an independent qualified person as defined by National Instrument 43-101 standards, has reviewed and approved the geological information reported in this news release. The drilling campaign and the quality control program have been planned and supervised by Dr. Augustin. Core logging and sampling were completed by Laurentia Exploration. The quality assurance and quality control protocols include insertion of blank or standard samples every 10 samples on average, in addition to the regular insertion of blank, duplicate and standard samples accredited by Laboratoire Expert Inc. during the analytical process. For all analyses targeting gold mineralization, gold values are estimated by fire assay with finish by atomic absorption. Values over three parts per million gold are reanalyzed by fire assay with finish by gravimetry by Laboratoire Expert of Rouyn-Noranda. Samples containing visible gold mineralization are analyzed by metallic sieve. For additional quality assurance and quality control, all samples were crushed to 90 per cent less than two millimetres prior to pulverization in order to homogenize samples that may contain coarse gold. The qualified person has not completed sufficient work to verify the historical information on the property or neighbouring projects, particularly in regard to historical drill results. However, the qualified person believes that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the property but may not be representative of expected results.

About Amex Exploration Inc.

Amex Exploration has made significant gold discoveries on its 100-per-cent-owned high-grade Perron gold project located approximately 110 kilometres north of Rouyn-Noranda, Que., consisting of 117 contiguous claims covering 4,518 hectares. The project is well serviced by existing infrastructure, on a year-round road, 10 minutes from an airport and just outside the town of Normetal (approximately eight kilometres). In addition, the project is in close proximity to a number of major gold producers' milling operations. The project hosts both bulk-tonnage and high-grade-gold-style mineralization. Since January, 2019, Amex has intersected significant gold mineralization in multiple gold zones and discovered copper-rich VMS (volcanogenic massive sulphide) zones.

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