AMEX hits new high grade zone at Perron

Amex Exploration Inc. has expanded the mineralized footprint of the Central Polymetallic Zone. The new high-grade intercept has the potential to extend the CPZ by 100 m beyond its currently defined area. Additionally, recent drilling in the High Grade and Team Zones have intercepted mineralization outside of the Perron Project's disclosed resource (please see press release dated September 5, 2024) . This drilling was completed after the drillhole database cutoff on June 30, 2024 and the majority of intercepts fall outside of the modelled underground stopes and open pits (see Figures 5-7) meaning they have the potential to grow the existing resource. Finally, Amex has also successfully expanded the latest discovery on the Perron Project, the JT Zone. The mineralized dike of the JT Zone has now been defined to approximately 450 m of strike, with a thickness of 60 m, plunging to the east. The zone is located approximately 750 m to the north-northwest of the High Grade Zone ("HGZ") and approximately 600 m to northwest of the Team Zone. The same late diabase dike that cuts the HGZ can also be seen cutting the JT Zone (see Figure 8). The mineralized dike remains open to the east at depth (see Figure 9). For a full list of today's drill results and collar locations, please see Tables 1-5 below.

Since publishing the NI 43-101 Mineral Resource Estimate at Perron, the Amex Exploration team has been optimizing the drilling plan to target expansion of the open pit and underground stope shapes identified in the resource. Numerous areas across the project have been outlined for expansion due to a lack of drilling. This process will be even further refined when the mine plan is in hand from the upcoming Preliminary Economic Assessment (PEA), expected in the current quarter.

Amex currently has over 5,000 samples waiting for analysis across its range of lab partners but expects this backlog to begin decreasing over the coming weeks. 

Drill Highlights Include:

Central Polymetallic Zone:

• PE-24-801 returned 1.80 m of 134.36 g/t Au, including 0.50 m of 480.73 g/t Au at a vertical depth of ~435 m

High Grade Zone:

• PE-21-347W6 returned 9.60 m of 5.06 g/t Au, including 0.50 m of 69.62 g/t Au at a vertical depth of ~1075 m
• PE-24-797 returned 1.00 m of 20.40 g/t Au, including 0.50 m of 35.47 g/t Au at a vertical depth of ~380 m

Team Zone:

• PE-24-789 returned 0.60 m of 62.50 g/t Au at a vertical depth of ~270 m
• PE-24-683EXT returned 1.30 m of 24.62 g/t Au at a vertical depth of ~590 m and 6.10 m of 3.35 g/t Au at a vertical depth of ~649 m
• PE-24-781 returned 0.60 m of 52.01 g/t Au at a vertical depth of ~165 m

JT Zone:

• PEX-24-235 returned 77.00 m of 0.84 g/t Au, including 22.10 m of 1.15 g/t Au at a vertical depth of ~240 to 310 m
• PEX-24-236 returned 63.20 m of 0.59 g/t Au at a vertical depth of ~280 to 335 m

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "This is a significant drill hole for the CPZ, which hadn't seen drilling for a number of years while other areas were being worked on. It demonstrates that there is high-grade gold to be found across the entire Perron Property. This drill hole also displays that while the CPZ primarily hosts broad, gold-rich polymetallic mineralization, it is also capable of producing focused stringers of sulfides with extreme amounts of native gold. By referring to Figure 5, it can be observed that there is a gap in drilling between today's intercept and the main CPZ body. The Amex team is excited to test if this extremely gold-rich stringer grows in size as it approaches its anticipated source."

Aaron Stone, P.Geo, Vice President Exploration of Amex Exploration added, "Today's visually spectacular intercept was a very exciting find for the team, I have personally never seen such an abundance of gold surrounding a sphalerite stringer. I too look forward to following up on the potential continuation of this extremely rich, previously unknown area of the CPZ. All of today's results did not make it into the resource estimate in addition to all other assays published after the June 30, 2024 MRE database cutoff, which included 30.85 g/t Au over 6.35 m from the release dated July 31, 2024. Therefore, results from this date onwards will also not be included in our upcoming PEA but show the potential to grow existing ounces at Perron."

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