Montreal, Quebec - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ('Amex or the Company') is pleased to provide a review of the discoveries and accomplishments in 2022 and a discussion of exploration plans for 2023. Kelly Malcolm, VP Exploration of Amex, recently caught up with Eric Lemieux, Exploration Mining Analyst of EBL Consultants, to discuss the upcoming exploration plans. See video here: https://www.youtube.com/watch?v=sq2WZdqzZ8M
A Year in Review - 2022 Key Accomplishments
The 2022 year cumulated in international recognition from industry peers with Amex Exploration winning the prestigious Exploration Company of the Year Award at the Mines and Money annual Gala Dinner, London in December. To achieve this recognition, Amex Exploration began the year by completing a $49.6 M flow-through financing using the charity flow through structure, resulting in lesser dilution for shareholders. The money raised is financing an aggressive 2022/2023 exploration program that is building gold ounces on the known gold zones at Perron and focusing on new discoveries. Amex conducted a total of 104,639 metres during 2022, which was one of the largest drilling programs conducted in Canada. Figure 1 displays the overall growing gold footprint at Perron, with all intercepts and identified zones drilled to date displayed in a plan and longitudinal view.
During the year Amex also expanded the Denise Zone by a further 450m to the east for a strike length of at least 1 km. The drill results indicate the potential for higher grade shoots forming within the eastern Denise, similar to what has been defined in the western Denise. Earlier this year, on May 9, 2022, Amex reported Hole PE-22-510 intersecting 30.90 m of 11.57 g/t Au which is one of the best intersections drilled to date in the Denise Zone.
In addition to drilling success, Amex achieved the UL 2723 ECOLOGO Certification for Mineral Exploration Companies, an important accomplishment in the Company's ESG strategy. Amex also conducted an environmental and social initial scoping study with Groupe BBA Inc. on the Perron project with positive results. This is an important step in project development and future permitting. The Company also expanded the on-site infrastructure with a number of roads that provide year-round access to the eastern portions of the Beaupre block including the Denise extension and the E2 gold zone.
Amex is also pleased to announce that it has completed the first-ever property wide geochemical surveys over the Perron project. Over the summer, a spruce-bark biogeochemical survey was conducted for which results have been received. The Company is intrigued by the preliminary results and has contracted external geochemists of Vision Geochemistry Ltd. to review the data and provide potential exploration targets. Amex also completed a nearly property-wide weak-leach soil survey, for which results are pending. The results of these two surveys will provide the basis for the 2023 summer regional exploration campaign and may provide drilling targets for regional exploration this winter if targets are compelling once interpreted.
A Year of Exploration Success on the Horizon - Winter & Spring 2023 Exploration Plans
'For the coming drilling season, we will be focusing on the eastern portion of the Beaupre Block where we see excellent expansion opportunities,' said Kelly Malcolm, VP Exploration at Amex Exploration. 'This area is proving to be particularly auriferous as we define the Denise Zone to the east and to the south, better define the new Team Zone as well as work to make new discoveries. We are also excited to test the continuation of the Beaupre rhyolite to the east, where the Perron and Normetal faults meet. This area has not seen any drilling and has significant gold potential.'
Qualified Persons, Quality Assurance & Quality Control
Maxime Bouchard P.Geo. M.Sc.A., (OGQ 1752) and Jerome Augustin P.Geo. Ph.D., (OGQ 2134), Independent Qualified Persons as defined by Canadian NI 43-101 standards, have reviewed and approved the geological information reported. The drilling campaign and the quality control program have been planned and supervised by Maxime Bouchard and Jerome Augustin.
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 or 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 3 ppm Au are reanalyzed by fire assay with finish by gravimetry by Laboratoire Expert Inc, 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% less than 2 mm prior to pulverization, in order to homogenize samples which may contain coarse gold.
For analyses targeting VMS mineralization, zinc, copper and silver values are estimated by four acid digestion multi-elements Inductively Coupled Plasma - Atomic Emission Spectroscopy (ICP-AES), ME-ICP61 at ALS Canada Ltd. Zinc values over 1%, copper values over 1%, and silver values over 100 g/t are estimated by four acid digestion ICP-AES, OG62. Gold values are estimated by fire assay with atomic absorption finish.
About Amex
Amex Exploration Inc. has made significant gold discoveries on its 100% owned high-grade Perron Gold Project located ~110 kilometres north of Rouyn-Noranda, Quebec, 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 (~8 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 zones.
Contact:
Victor Cantore
President and Chief Executive Officer
Amex Exploration
T: +1-514-866-8209
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the planned exploration program on the HGZ and Denise Zone, the expected positive exploration results, the extension of the mineralized zones, the timing of the exploration results, the ability of the Company to continue with the exploration program, the availability of the required funds to continue with the exploration and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words 'will', 'should', 'continue', 'expect', 'anticipate', 'estimate', 'believe', 'intend', 'to earn', 'to have', 'plan' or 'project' or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.
AMEX EXPLORATION INC. 
