Dr. Jacques Trottier reports

AMEX EXPLORATION ANNOUNCES NEW GOLD DISCOVERY NAMED THE JT ZONE

Amex Exploration Inc. has made a new gold discovery in a never-before-seen lithology within the Beaupre block of the Perron project in the Abitibi region of Quebec. The new zone, named the JT zone, was found within a felsic to intermediate dike with various levels of sulphide mineralization containing gold grades. The JT zone is located approximately 750 metres to the north-northwest of the High Grade zone and approximately 600 m to northwest of the Team zone. The JT dike is oriented west-northwest-east-southeast with a strike length to date of 275 m, plunging to the east, and a thickness of 60 m. The mineralized dike remains open to both the west and the east, as well as at depth.

The felsic to intermediate dike that defines the JT zone contains varying levels of sulphide mineralization, being mainly pyrrhotite and pyrite with occasional traces of sphalerite. Mineralogy of the dike consists of feldspar, quartz, amphibole, chlorite and biotite. Studies will be completed to better understand the relationship between the percentage of sulphide mineralization and gold grades.

In addition, the JT zone also comprises gold bearing quartz-carbonate veins that are hosted in the aphanitic rhyolite of the Beaupre block, highlighting the zone's potential for multiple styles of mineralization.

Drill highlights include:

• PEX-24-222 returned 70.50 m of 0.91 gram per tonne Au, including 10.50 m of 2.83 g/t Au at a vertical depth of approximately 20 to 70 m in the JT zone.
• PEX-24-213 returned 49.50 m of 0.86 g/t Au, including 5.90 m of 2.39 g/t Au at a vertical depth of approximately 210 to 250 m in the JT zone.

Dr. Jacques Trottier, PhD, executive chairman of Amex Exploration, commented: "The Beaupre block has yet again delivered Amex another gold discovery, this time in a lithology never previously encountered across the Perron property. The sulphide-rich dike does not outcrop on surface and was found northwest of the Team zone while conducting follow-up drilling on mineralized extensional veins similar in nature to that of the Team zone. We have initiated studies regarding the mineralization style in this new zone to get a better grasp on the nature of the gold emplacement, I look forward to analyzing the thin sections under microscope once in hand. The Amex team believes this mineralized dike could potentially add some significant low-grade, bulk-tonnage ounces to the existing resources at Perron. There are also higher-grade ounces to be found within the quartz-carbonate veins in the aphanitic rhyolite. The team is excited to continue drilling in this area and grow our latest discovery."

Qualified person and quality assurance/quality control

Dr. Jerome Augustin, PGeo, PhD, (OGQ 2134), an independent qualified person as defined by Canadian 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 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 Au are reanalyzed by fire assay with finish by gravimetry by Laboratoire, 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 which 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 km). In addition, the project is in close proximity to a number of major gold producers' milling operations. The project hosts both bulk-tonnage and a high-grade gold-style mineralization. Since January, 2019, Amex has intersected significant gold mineralization in multiple gold zones and discovered copper-rich volcanogenic massive sulphide zones.

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