Mr. Victor Cantore reports

AMEX EXPLORATION ANNOUNCES CLOSING OF PRIVATE PLACEMENT AND FILING OF NI 43-101 TECHNICAL REPORT FOR THE PERRON GOLD PROJECT

Further to the press releases of Oct. 1, 2024, Oct. 7, 2024, and Oct. 17, 2024, Amex Exploration Inc. has closed its non-brokered private placement through the issuance of 5,734,000 units of the company at a price of $1.15 per unit for aggregate proceeds of $6,594,100.

Each unit was composed of one common share and one-half of one common share purchase warrant of the company. Each warrant is 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.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 (Prospectus Exemptions), the units were 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 (the Listed Issuer Financing Exemption). 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.

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 for general working capital purposes. The company is well financed for its current exploration program. In connection with the offering, certain eligible finders received cash commissions in the aggregate of $34,212.50.

The offering constituted a related-party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions) as an insider of the company acquired 870,000 units pursuant to the offering. The company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the company is not listed on a specified market and the fair market value of the participation in the offering by the insider does not exceed 25 per cent of the market capitalization of the company in accordance with MI 61-101. The company did not file a material change report in respect of the related-party transaction at least 21 days before the closing of the of the offering, which the company deems reasonable in the circumstances to complete the offering in an expeditious manner.

In addition, the company is pleased to announce that it has filed a National Instrument 43-101 (Standards of Disclosure for Mineral Projects) mineral resource estimate technical report for Amex's 100-per-cent-owned Perron gold project in Quebec, Canada, with an effective date of Sept. 5, 2024. Report results were previously announced in Amex's news release dated Sept. 5, 2024.

GoldMinds Geoservices Inc. is responsible for the overall report and was prepared in collaboration with Laurentia Exploration Inc. The qualified persons, as defined under NI 43-101, are Claude Duplessis, eng, Dr. Merouane Rachidi, PGeo, PhD, and Dr. Jerome Augustin, PGeo, PhD.

The report is available on the company's website and on SEDAR+.

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.

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