Amex Exploration Completes Acquisition of Perron West Project

Rhea-AI Summary

Amex Exploration (TSXV: AMX, OTCQX: AMXEF) has successfully completed the acquisition of the Perron West Project, expanding its mining portfolio with 100% undivided interest in strategic properties across Quebec and Ontario. The acquisition encompasses:

- 48 contiguous claims totaling 1,737 hectares adjacent to the Company's existing Perron project in Quebec's Abitibi-Témiscamingue region

- 35 mining claims (33 multi-cell and 2 single-cell) covering 13,455 hectares in Ontario's Abbotsford, Adair and Hepburn Townships

The total acquired area spans 15,192 hectares. The transaction was executed through a definitive asset purchase agreement with an arm's length vendor, following the previous announcement made on March 25, 2025.

Positive

• Acquisition of 100% undivided interest in strategic mining claims
• Significant expansion of land position with 15,192 total hectares
• Strategic property addition adjacent to existing Perron project

Negative

• None.

News Market Reaction – AMXEF

+4.92%

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+4.92% News Effect

On the day this news was published, AMXEF gained 4.92%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Montreal, Quebec--(Newsfile Corp. - April 10, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or "the Company") is pleased to announce the closing of its acquisition (the "Transaction") of a 100% undivided interest in 48 contiguous claims/exclusive exploration rights comprising 1,737 hectares adjoining the Company's Perron project to the west and the south in the Abitibi-Témiscamingue region of the province of Quebec and 33 multi-cell and 2 single-cell contiguous and adjoining mining claims comprising 13,455 hectares in the Abbotsford, Adair and Hepburn Townships in the province of Ontario, representing a total area of 15,192 hectares (the "Perron West Project"). The Transaction was completed pursuant to the terms and conditions of the definitive asset purchase agreement entered into between the Company and an arm's length vendor, previously announced on March 25, 2025.

About Amex Exploration Inc.

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 Normétal (~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.

For further information please contact:

Victor Cantore
President and Chief Executive Officer
Tel: +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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248061

FAQ

What is the total land area acquired by Amex Exploration (AMXEF) in the Perron West Project?

Amex Exploration acquired a total area of 15,192 hectares across Quebec and Ontario in the Perron West Project.

How many mining claims did AMXEF acquire in Ontario as part of the Perron West acquisition?

AMXEF acquired 33 multi-cell and 2 single-cell contiguous mining claims in Ontario, totaling 13,455 hectares.

When did Amex Exploration (AMXEF) announce the Perron West Project acquisition?

The acquisition was initially announced on March 25, 2025, with the closing announced on April 10, 2025.

What is the ownership percentage acquired by AMXEF in the Quebec claims?

Amex Exploration acquired a 100% undivided interest in the 48 contiguous claims in Quebec.