Mr. Victor Cantore reports

AMEX EXPANDS HIGH GRADE ZONE NEAR SURFACE - DRILLS 2.22 G/T AU OVER 34.75 M, INCLUDING 53.16 G/T AU OVER 1.00 M

Amex Exploration Inc. has released drill results that have expanded the near-surface mineralization of the high-grade zone (HGZ), on the company's flagship Perron project in the northwestern Abitibi region of Quebec. The results released today are from holes that were drilled in close proximity to the diabase dike that runs down the central portion of the HGZ in an area that lacked information, highlighting the growth potential that exists across the Perron project. Importantly, today's results will not make it into the company's resource estimate, which remains on track for third quarter.

Highlights include the following.

High-grade zone:

• PE-24-788 returned 34.75 metres of 2.22 grams per tonne gold, including 1.00 m of 53.16 g/t Au at a vertical depth of approximately 145 m.
• PE-24-791 returned 10.15 m of 1.47 g/t Au, including 0.75 m of 10.49 g/t Au at a vertical depth of approximately 260 m.

Jacques Trottier, PhD, executive chairman of Amex, commented: "Drill hole PE-24-788 was placed in an area of the high-grade zone that was previously thought to only contain lower-grade mineralization (metal factor one to 10). With a metal factor of 77.15 (true thickness metal factor 48.02), this hole has defined some important mineralization outside of the previously known and delineated main HGZ core."

Aaron Stone, PGeo, vice-president, exploration, of Amex, continued: "The high-grade zone is continuing to show that it can hold impressive mineralization even outside of its main extremely rich high-grade core. We will continue to add more holes in this area on both sides of the diabase dike to see if a secondary plunge of higher-grade mineralization can be exploited."

Qualified person and quality assurance/quality control

Jerome Augustin, PGeo, PhD (OGQ 2134), an independent qualified person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects, 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 Mr. 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, 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 to homogenize samples which may contain coarse gold.

Exploration results that include drill results on wide spacings may not be indicative of the occurrence of a mineral deposit as such results do not provide assurance that further work will establish sufficient grade, continuity, metallurgical characteristics and economic potential to be classed as a category of mineral resource. The potential quantities and grades of drilling targets disclosed in this news release are conceptual in nature. There has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the targets being delineated as mineral resources.

About Amex Exploration Inc.

Amex 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 of 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 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.

We seek Safe Harbor.