DGAP-News: Amex Exploration Inc. / Key word(s): Miscellaneous Amex Drills High Grade Gold from HGZ Zone of Perron Including up to 43.74 g/t Gold over 6.90 Metres in Shallow Hole and 28.64 g/t Gold over 5.00 Metres at Depth 2021-10-13 / 10:15 The issuer is solely responsible for the content of this announcement.

-----------------------------------------------------------------------------------------------------------------------

Montreal, Quebec H2Y 2P5 Telephone: (514) 866-809

Highlights from the Shallow (Western) High Grade Zone include:

- 43.74 g/t Au over 6.90 m, including 531.99 g/t Au over 0.50 m, for a metal factor of 302 at a vertical depth of 350 m in hole PE-21-409;

- 76.61 g/t Au over 3.50 m, including 530.97 g/t Au over 0.50 m, for a metal factor of 268 at a vertical depth of 480 m in hole PE-21-383W1;

- 36.02 g/t Au over 6.55 m, including 218.15 g/t Au over 1.05 m, for a metal factor of 236 at a vertical depth of 250 m in hole PE-21-392;

- 102.43 g/t Au over 1.80 m, including 357.30 g/t Au over 0.50 m, for a metal factor of 184 at a vertical depth of 300 m in hole PE-21-413;

- 9.46 g/t Au over 6.25 m for a metal factor of 59 at a vertical depth of 160 m in hole PE-21-378;

- 7.87 g/t Au over 6.40 m, including 74.47 g/t Au over 1.00 m, for a metal factor of 50 at a vertical depth of 330 m in hole PE-21-399.

- 4.65 g/t Au over 10.65 m for a metal factor of 50 at a vertical depth of 650 m in hole PE-21-410.

Highlights from the Deep (Eastern) High Grade Zone include:

- 28.64 g/t Au over 5.00 m for a metal factor of 143 at a vertical depth of 850 m in hole PE-21-386;

- 15.63 g/t Au over 6.40 m, including 86.16 g/t Au over 1.00 m, for a metal factor of 100 at a vertical depth of 965 m in hole PE-21-404;

- 14.78 g/t Au over 8.30 m, including 113.56 g/t Au over 1.05 m, for a metal factor of 123 at a vertical depth of 690 m in hole PE-21-403W1;

- 14.85 g/t Au over 5.00 m for a metal factor of 74 at a vertical depth of 330 m in hole PE-21-412; and

- 7.18 g/t Au over 7.70 m for a metal factor of 55 at a vertical depth of 1,000 m in hole PE-21-347W1.

MONTREAL, CANADA - October 13, 2021 - Amex Exploration Inc. ("Amex or the Company") (TSX-V: AMX, FRA: MX0, OTCQX: AMXEF) is pleased to announce a total of 26 drill holes focused on expansion and definition drilling of the High Grade Zone on the Perron Project. See Figure 1 for a plan view of the geology of the EGZ and the mineralized zones.

Today's results are focused on on-strike expansion as well as definition drilling of the High Grade Zone as the Company works towards its maiden resource on the Perron Project. A complete list of results is available in Tables 1 & 2 and presented in Figures 2, 3, & 4. Photos of visible gold in select drillholes are presented in Figure 5. In addition to the results detailed below, Amex is awaiting results on over 14,200 samples at three labs from holes targeting the HGZ, Denise, QF Zone, and Grey Cat Zone, as well as regional exploration drilling.

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "I am very excited with today's results for several reasons. Firstly, the highest metal factor hole in this release, PE-21-409 returning 43.74 g/t Au over 6.90 m, comes from an area of the shallower HGZ that had previously thought to be lower grade as shown in Figure 3. Three additional intercepts, PE-21-418, PE-21-399 and PE-383W1, also confirm the high grade potential in this "lower grade" area that should add significant ounces to the eventual resource estimate. Secondly, our drilling at depth continues to reaffirm our interpretation of strong continuity and a larger "envelope" of greater than 50 metal factor mineralization. Amex has a number of drillholes pending from the High Grade Zone as well as across the project and we look forward to receiving the outstanding results."

Table 1: Assay results from the Western (Shallower) High Grade Zone at Perron 


   Hole ID    From (m) To (m) Length (m) Au (g/t) Vertical Depth (m) Metal Factor (g/t*m)          Zone 
  PE-21-409    374.90  381.80    6.90     43.74 
  Including    380.00  380.80    0.80     29.78         350.00               302 
  Including    380.80  381.30    0.50     531.99 
 PE-21-383W1   538.50  542.00    3.50     76.61         480.00               268 
  Including    540.00  540.50    0.50     530.97 
  PE-21-392    297.50  304.05    6.55     36.02         250.00               236 
  Including    302.50  303.55    1.05     218.15 
  PE-21-413    338.20  340.00    1.80     102.43        300.00               184 
  Including    338.70  339.20    0.50     357.30 
  PE-21-378    214.75  221.00    6.25      9.46         160.00                59 
  Including    219.40  220.45    1.05     44.49 
  PE-21-399    351.90  358.30    6.40      7.87         330.00                50 
  Including    357.80  358.30    1.00     74.47                                           Western (Shallower) HGZ 
  PE-21-410    720.00  730.65   10.65      4.65         650.00                50 
  Including    722.85  723.75    0.90     24.22 
  PE-21-421    466.00  474.90    8.90      4.52         440.00                40 
  Including    474.40  474.90    0.50     74.96 
  PE-21-418    343.75  351.00    7.25      3.94         320.00                29 
  Including    348.95  349.75    0.80     30.23 
  PE-21-390    198.20  205.00    6.80      2.33         160.00                16 
  Including    202.90  203.50    0.60     23.32 
  PE-21-385    212.00  220.25    8.25      2.80         170.00                23 
  Including    219.75  220.25    0.50     25.52 
  PE-21-383    551.80  561.00    9.20      0.72         490.00                6 
  PE-21-420    667.50  669.55    2.05      8.88         590.00                18 
  Including    667.50  668.20    0.70     23.97

*Note that drill results are presented uncapped and lengths represent core lengths. True width is estimated to be 70-80% in HGZ. Metal factor is defined as gold grade multiplied by core length.

Table 2: Assay results from the Eastern (Deeper) High Grade Zone at Perron 


   Hole ID    From (m) To (m)  Length (m) Au (g/t) Vertical Depth (m) Metal Factor (g/t*m)        Zone 
  PE-21-386    929.50  934.50     5.00     28.64         850.00               143 
  Including    932.75  934.50     1.75     79.06 
  PE-21-404   1062.00  1068.40    6.40     15.63         965.00               100 
  Including   1062.90  1063.90    1.00     86.16 
 PE-21-403W1   783.50  791.80     8.30     14.78         690.00               123 
  Including    786.90  787.95     1.05     113.56 
  PE-21-412    415.00  420.00     5.00     14.85         330.00                74 
  Including    418.75  419.50     0.75     89.62 
 PE-21-347W1  1080.30  1088.00    7.70      7.18        1000.00                55 
  Including   1080.30  1081.00    0.70     54.78                                           Eastern (Deep) HGZ 
 PE-21-347W2  1095.60  1104.50    8.90      5.50        1040.00                49 
  Including   1095.60  1098.10    2.50     18.14 
  PE-21-423    424.30  428.40     4.10      9.44         340.00                39 
  PE-21-403    790.20  793.30     3.10      5.41         700.00                17 
  Including    792.80  793.30     0.50     31.43 
  PE-21-393    483.40  484.05     0.65     29.89         410.00                19 
  PE-21-389    485.50  487.00     1.50      7.55         410.00                11 
  PE-21-400    460.00  464.10     4.10      1.37         380.00                6 
  PE-21-408    419.35  420.40     1.05      0.70         340.00                1 
  PE-21-419    415.00  419.95     4.95      2.06         330.00                10

*Note that drill results are presented uncapped and lengths represent core lengths. True width is estimated to be 70-80% in HGZ. Metal factor is defined as gold grade multiplied by core length.

Qualified Person Maxime Bouchard P.Geo. M.Sc.A., (OGQ 1752) and Jérôme 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 in this news release. The drilling campaign and the quality control program have been planned and supervised by Maxime Bouchard and Jérôme Augustin. The quality assurance and quality control protocol include insertion of blank or standard every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard samples accredited by Laboratoire Expert during the analytical process. Gold values are estimated by fire assay with finish by atomic absorption and 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. Core logging and sampling were completed by Laurentia Exploration. About Amex Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold projects in the mining-friendly jurisdiction of Quebec. Amex is focused on its 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 117 contiguous claims covering 4,518 hectares. A number of significant gold discoveries have been made at Perron, including the Eastern Gold Zone, the Gratien Gold Zone, the Grey Cat Zone, and the Central Polymetallic Zone. High-grade gold has been identified in each of the zones. A significant portion of the project remains underexplored. In addition to the Perron project, the company holds a portfolio of three other properties focused on gold and base metals in the Abitibi region of Quebec and elsewhere in the province.

For further information please contact: Victor Cantore President and Chief Executive Officer Amex Exploration: +1-514-866-8209

(MORE TO FOLLOW) Dow Jones Newswires

October 13, 2021 04:15 ET (08:15 GMT)