Mr. Victor Cantore reports

AMEX EXPANDS MULTIPLE GOLD ZONES AT THE PERRON GOLD PROJECT

Recent drilling has continued to expand the footprint of multiple zones at Amex Exploration Inc.'s flagship Perron project, located in northwestern Abitibi, Quebec. As seen in today's results, the company continues to find high-grade gold across multiple gold zones, successfully expanding them either along strike or at depth. For a full list of today's drill results and collar locations, please see the attached tables.

Since obtaining the economic stopes and open pits from the mine plan detailed in the Perron preliminary economic assessment (PEA) (see Nov. 13, 2024, news release), drill hole planning has been further optimized by adding the criteria of adding economically viable ounces to existing zones.

Drill highlights

Denise zone:

• 35.82 grams per tonne (g/t) gold (Au) over 1.20 metres (m), including 60.82 g/t Au over 0.70 m, at a vertical depth of approximately 280 m -- hole PE-24-818.

Upper high-grade zone:

• 69.03 g/t Au over 0.50 m at a vertical depth of approximately 730 m -- hole PE-21-386W2.

E2 zone:

• 5.75 g/t Au over 2.40 m, including 22.63 g/t Au over 0.50 m, at a vertical depth of approximately 105 m -- hole PE-24-819;
• 6.02 g/t Au over 3.00 m, including 10.83 g/t Au over 1.50 m, at a vertical depth of approximately 45 m -- hole PE-24-817.

Grey Cat zone:

• 49.75 g/t Au over 0.60 m at a vertical depth of approximately 50 m -- hole PEG-24-834.

Gratien zone:

• 5.71 g/t Au over 3.80 m, including 18.15 g/t Au over 0.50 m, at a vertical depth of approximately 230 m -- hole PEG-24-826;
• 7.44 g/t Au over 2.00 m, including 12.21 g/t Au over 1.00 m, at a vertical depth of approximately 195 m -- hole PEG-24-828.

JT zone:

• 0.61 g/t Au over 162.00 m, including 1.74 g/t Au over 21.00 m, at a vertical depth of approximately 500 m -- hole PEX-24-266;
• 0.72 g/t Au over 123.00 m, including 27.12 g/t Au over 1.50 m, at a vertical depth of approximately 20 m -- hole PEX-24-265.

Jacques Trottier, PhD, executive chairman of Amex Exploration, commented: "Since receiving the block model from the mineral resource estimate (MRE) and subsequently the mine plan from the PEA, our geological team has been able to significantly refine the drill planning process with the goal of increasing economic ounces on the project within the known gold zones. Today's results [ ... ] indicate a strong potential for these intercepts to contribute additional ounces to the mine plan."

Jonathan Gagne, vice-president of project development, added: "In the recently released PEA, a minimum diluted mining width of 3.7 m was applied along with a cut-off grade of 1.50 g/t, representing a metal factor of 5.55 (g/t Au times m). With the exception of the JT zone, where a bulk mining scenario could be envisioned, these high-grade intercepts have all shown metal factors significantly above this PEA threshold."

Aaron Stone, PGeo, vice-president fo exploration of Amex Exploration, added: "The discovery of visible gold in regional drill hole PEX-24-197 is especially exciting. This is the first time we have found visible gold mineralization outside of the Beaupre block to the west in the basalts. This further demonstrates that gold mineralization at Perron extends beyond the Beaupre block, highlighting the entire Perron property as having fertile targets for hosting gold mineralization. We look forward to following up on this new regional discovery with our 2025 drill program."

Qualified person and QA/QC (quality assurance/quality control)

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 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. and ALS Canada Ltd., 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 (ppm) Au 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 (mm) prior to pulverization, in order to homogenize samples which may contain coarse gold.

For base gold and base metals analysis, the samples were shipped to ALS Rouyn-Noranda. Gold values are estimated by fire assay with finish by atomic absorption. Zinc, copper and silver values are estimated by four-acid digestion multielement inductively coupled plasma atomic emission spectroscopy (ICP-AES), ME-ICP61. Zinc values over 1 per cent, copper values over 1 per cent and silver values over 100 g/t are estimated by four-acid digestion ICP-AES, OG62.

The qualified person has not completed sufficient work to verify the historical information on the property or neighbouring projects, particularly in regards 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 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 (km)). 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.

We seek Safe Harbor.