Mr. Victor Cantore reports

AMEX EXPLORATION ANNOUNCES $4.0 MILLION PRIVATE PLACEMENT WITH INVESTMENT FROM ERIC SPROTT AND ELDORADO GOLD

Amex Exploration Inc. has arranged a non-brokered private placement of up to 3.4 million units of the company at a price of $1.15 per unit for aggregate proceeds of $3.91-million.

Each unit will consist of one common share and one-half of one common share purchase warrant of the company. Each warrant will be exercisable to acquire one common share for a period of 24 months following the closing date of the offering at an exercise price of $1.40 per common share, subject to adjustment in certain events.

The company is pleased to advise that offering is supported by key strategic investors, Eric Sprott, through 2176423 Ontario Ltd., and Eldorado Gold Corp.

"This financing is bolstered by investment from key existing shareholders and we thank them for their continued endorsement of our work at Perron. Our recently released mineral resource estimate focused on high-grade ounces and we believe our upcoming PEA, expected to be released in Q4 2024, will demonstrate robust economics on the Perron project," said Victor Cantore, president and chief executive officer of Amex Exploration.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106, Prospectus Exemptions, the units will be offered for sale to purchasers resident in Canada and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. Because the offering is being completed pursuant to the listed issuer financing exemption, the units issued pursuant to the offering will not be subject to a hold period pursuant to applicable Canadian securities laws.

There is an offering document related to the offering that can be accessed under the company's issuer profile on SEDAR+ and on the company's website. Prospective investors should read the offering document before making an investment decision.

The company will use the proceeds of the offering to finance the advancement of the company's preliminary economic study on its wholly owned 100-per-cent-owned high-grade Perron gold project and general working capital purposes. The company is well financed for its current exploration program.

The offering is scheduled to close on or about Oct. 15, 2024, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.

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 host 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 VMS (volcanic massive sulphide) zones.

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