Mr. Victor Cantore reports

AMEX EXPLORATION ANNOUNCES UP TO C$30 MILLION PRIVATE PLACEMENT, LED BY STRATEGIC INVESTMENT BY ELDORADO GOLD

Amex Exploration Inc. has arranged a non-brokered private placement of 11 million charity flow-through common shares at a price of C$2.27 per charity flow-through share for gross proceeds of up to $24.97-million.

The company may also issue up to an additional 3,125,000 hard-dollar common shares at a price of $1.60 per hard-dollar share for gross proceeds of up to $5-million.

As part of the offering, Eldorado Gold Corp. intends to make a strategic investment in the company through the purchase of 11 million common shares of the company at a price of $1.60 per common share for gross proceeds of $17.6-million. Upon closing of the offering, Eldorado will own approximately 17 per cent of Amex's issued and outstanding shares (on an undiluted basis).

Victor Cantore, president and chief executive officer of Amex, stated: "Eldorado's strategic investment significantly strengthens our exploration budget and reaffirms the high-quality potential of the Perron project and the recently acquired Perron West project. With a strong resource estimate already defined, we see substantial untapped upside across the broader property. This funding will enable us to aggressively pursue new targets and further demonstrate the scale and opportunity in the broader district-scale camp."

The company intends to use the net proceeds of the offering to finance exploration across the Perron gold project with a focus on new target definition and drilling.

Each charity flow-through share will qualify as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada). The gross proceeds from the offering will be used by the company to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures (as such terms are defined in the Income Tax Act (Canada)) related to the company's Perron gold project on or before Dec. 31, 2026. All qualifying expenditures will be renounced in favour of the subscriber for the charity flow-through shares with an effective date on or before Dec. 31, 2025, in accordance with the requirements of the Income Tax Act (Canada).

The closing of the offering is expected to occur on or before Aug. 7, 2025, and is subject to the satisfaction of certain conditions, including receipt of acceptance of the TSX Venture Exchange. All securities issued in connection with the offering will be subject to a hold period of four months and one day from the date of closing, in accordance with applicable Canadian securities laws.

Mills Dunlop Capital Partners Ltd. is acting as financial adviser to the company in connection with the strategic investment.

About Amex Exploration Inc.

Amex Exploration has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS) zones, at its 100-per-cent-owned Perron gold project, located approximately 110 kilometres north of Rouyn-Noranda, Que. The project comprises 117 contiguous claims (45.18 square kilometres) and hosts both bulk-tonnage and high-grade gold mineralization styles.

When combined with the adjacent Perron West project, which includes 48 claims (17.37 square kilometres) in Quebec and 35 claims (134.55 square kilometres) in Ontario, the consolidated land package spans a district-scale 197.52 square kilometres. This extensive property lies within highly prospective geology favourable for both high-grade gold and VMS mineralization.

The project benefits from excellent infrastructure: It is accessible by a year-round road, located just 20 minutes from an airport and approximately eight kilometres from the town of Normetal. It is also in close proximity to several process plants owned by major gold producers.

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