Amex Exploration Inc. (TSXV: AMX,OTC:AMXEF) (FSE: MX0) (OTCQX: AMXEF) (“Amex” or “the Company”) is pleased to announce that it has entered into an asset purchase agreement (the “APA”) with an independent seller to acquire two projects immediately adjacent to the existing Amex land package, separately referred to as the Abbotsford Project and the Hepburn Project (the “Transaction”). In addition to these acquisitions, the company has acquired, through staking claims, the continuation of these Greenstone Belts and now controls approximately 70 km of the strike length of the productive Abitibi Greenstone Belt (see Figure 1). Combined with Perron and Perron West’s existing land holdings, the company will increase its footprint from 19,972 hectares (199.72 km2) to 50,108 hectares (501.08 km2).
Amex has expanded its holdings northwest along the Normétal-Burntbush Greenstone Belt, home to Perron’s 2.3 million ounces (see press release dated May 21, 2025).
Details of the acquisitions and claim stakes are as follows:
- The Abbotsford Project consists of 242 claims totaling 6,253.47 hectares;
- The Hepburn Project consists of 82 claims totaling 2,139.45 hectares;
- 890 claims obtained through commitment to the continuation of the Abbotsford project for a total of 18,753.17 hectares; And
- 141 claims acquired through claims stakes for the continuation of the Hepburn project, for a total of 2,990.16 hectares.
Victor Cantore, President & CEO of Amex Exploration commented: “Based on our extensive exploration of the Perron property, we view the Normétal-Burntbush greenstone belt, which borders the Casa Berardi deformation zone to the northwest, as extremely promising for future gold and VMS discoveries. With these acquisitions, we have built a district-level land package managed by a single company, which is rare in the Abitibi region. Greenstone Belt remains severely underdeveloped for gold, while there are several historic showings that have never seen any substantial follow-up work done. It is also exciting to now own land adjacent to the Casa Berardi Fault, which also contains important fertile structures that warrant further work.
Amex’s land parcel is now adjacent to Agnico Eagle’s properties in Abitibi along Ontario’s Casa Berardi getaway. As seen in Figure 1Agnico’s project is holding several gold showings during a NE-SW strike, any potential continued mineralization of which would trend towards the new Amex claims. The company looks forward to designing an initial exploration program for this underdeveloped package.
In addition to pursuing the Normétal-Burntbush Greenstone Belt, the company also acquired the Hepburn Project and staked claims further west. The Hepburn Project contains mafic to intermediate metavolcanic rocks containing numerous gold and copper tones that warrant further investigation (see Figure 1).
Amex anticipates that any future discoveries on the new land package would have synergies with the proposed mining infrastructure at the Perron Project in Quebec (see updated PEA press release dated September 4, 2025 for more information).
Figure 1: Geologic map of the Normétal-Burntbush greenstone belt adjacent to the Casa Berardi deformation zone, showing the Perron and Perron West projects and Amex’s newly acquired and expanded land.
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Transaction data
As a buyer, the Company entered into an APA with an independent seller to acquire the Abbotsford Project and the Hepburn Project (collectively the “Properties“). Under the APA, the Company will:
(i) pay to Seller an aggregate cash consideration of $150,000;
(ii) issue to the seller a total of 600,000 ordinary shares (each a “Part“) in the capital of the Company, subject to certain contractual resale restrictions providing for a staggered release of the guarantor’s Shares over a period of 36 months;
(iii) grant to the seller a gross predominant royalty of 0.5% with respect to the Abbotsford Project and the Hepburn Project pursuant to the terms and conditions of a gross predominant royalty agreement to be entered into between the Company and the seller at closing; And
(iv) make the following additional milestone payments to the seller:
(a) an additional $1,000,000, payable in cash, payable upon the Company’s disclosure of a mineral resource and/or mineral reserve (of any category or combination of categories) in respect of the Properties describing at least one million ounces of gold and/or gold equivalent; And
(b) an additional $500,000, payable in cash, payable after the Company has made public a preliminary economic assessment, pre-feasibility study or a feasibility study relating to the Properties, as those terms are defined in National Instrument 43-101 – Mineral Project Disclosure Standards.
The properties are currently subject to an existing 1.5% net smelter return royalty in favor of Gravel Ridge Resources Ltd. and 1544230 Ontario Inc., which will be acquired by Amex upon closing. Accordingly, the properties will be subject to an aggregate NSR of 1.5% and an additional gross royalty of 0.5% at closing.
The Transaction remains subject to a number of closing conditions and post-closing obligations, including the execution of the Royalty Agreement and certain deeds and transfer instruments, the approval of the TSX Venture Exchange and standard closing conditions for transactions of this nature.
Qualified persons and QAQC
The technical information in this press release has been reviewed and approved by Aaron Stone, P. Geo. (OGQ 2170 and PGO 3708) for the properties in Ontario and Jérôme Augustin P.Geo. Ph.D., (OGQ 2134) for the Perron Project in Quebec (collectively the “Qualified persons“).
The potential types of exploration targets discussed in this press release are conceptual in nature. The qualified individuals have not completed sufficient work to verify historical information about the properties and it is uncertain whether further exploration will result in targets being delineated as a mineral resource. The Company has not independently verified and cannot guarantee the accuracy or completeness of any third party data discussed in this press release. Investors should exercise caution in relying on such information. The information provides an indication of the exploration potential of the properties but may not be representative of the expected results.
About Amex
Amex Exploration Inc. has made significant high-grade gold discoveries, along with copper-rich volcanic massive sulphide (VMS) zones, at the 100% owned Perron Gold Project approximately 110 kilometers north of Rouyn-Noranda, Quebec. The Perron project in Quebec consists of 183 contiguous claims covering an area of 65.75 km². The project includes both bulk tonnage and high-grade gold mineralization styles.
When combined with the adjacent and adjoining Perron West Project in Ontario, which includes 35 claims (33 multi-cell and 2 single-cell claims) covering 134.55 km², the consolidated land parcel covers a district scale of 200.30 km². This extensive property lies within a highly prospective geology favorable for both high-grade gold and VMS mineralization.
The project benefits from excellent infrastructure: it is accessible by road all year round, located just 30 minutes from an airport and approximately 6.5 km from the city of Normétal. It is also in close proximity to several process plants owned by major gold producers.
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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 press release contains forward-looking statements. All statements, other than those of historical fact, that relate to activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, including but not limited to planned exploration programs, the expected positive exploration results, the expansion of mineralized zones, the Company’s ability to proceed with exploration programs, the availability of required funds to continue exploration, the Company’s plans for further drilling and exploration, the ability of the Company to obtain all required approvals to complete the Transaction, and potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements generally can be identified by the use of the words “will”, “could”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “earn”, “have”, “plan” or “project” or the negative of these words or other variations of these words or similar 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, which could cause actual consequences. Factors that could cause actual results or events to differ materially from current expectations include: historical estimates may prove to be inaccurate; additional drilling and exploration activities may result in a determination that there is no potentially viable mine plan for the property, general economic, economic, competitive, political and social uncertainties; general business and economic conditions, changes in the global gold markets, sufficient labor and equipment availability, changes in laws and licensing requirements, unexpected weather changes, ownership disputes and claims, environmental risks and the risks identified in the Company’s annual Management’s Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should the assumptions underlying the forward-looking statements prove incorrect, actual results may differ materially from those described. Accordingly, readers should not place undue reliance on forward-looking statements. The Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially. There may be others that cause results not to be as expected, estimated, or intended. The Company does not intend, and assumes no obligation, to update these forward-looking statements, except as otherwise required by applicable law.
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