Amex Gold Mining Advances Bulk Sample Construction
Rhea-AI Summary
Amex Gold Mining (OTCQX: AMXEF) reported continued progress on construction for its 40,000-tonne underground bulk sample at the Perron Gold Project in Quebec. Key updates include completed infrastructure pads, installation of temporary facilities, arrival and installation of the water treatment plant, and selection of the underground portal construction contractor.
Portal construction is planned to start the week of July 6, 2026, with underground mining contractor mobilization targeted for late July 2026. Connection to Hydro-Québec’s grid is anticipated later in 2026 or early 2027, and the bulk sample will be mined from the Champagne Zone.
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Positive
- 40,000-tonne Perron bulk sample construction and site infrastructure progressing
- Water treatment plant delivered and being installed for environmental management
- Portal construction contractor selected, with work planned to start early July 2026
- Underground mining contractor mobilization targeted for late July 2026
- Hydro-Québec grid connection expected 2026/early 2027 to lower site footprint
Negative
- None.
Montreal, Quebec--(Newsfile Corp. - July 6, 2026) - Amex Gold Mining Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or the "Company") is pleased to provide an update on ongoing construction and development activities related to the 40,000-tonne underground bulk sample program at its wholly-owned Perron Gold Project located in the Abitibi region of Quebec.
Figure 1: Site overview
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Construction activities across the site are progressing steadily. Multiple infrastructure pads have now been completed or are nearing completion, providing the foundation for key operational facilities required to support the bulk sample program. Temporary office facilities, site services, and supporting infrastructure are also being installed as mobilization activities accelerate.
The water treatment plant has arrived on site and installation activities are underway. The water treatment plant represents a key component of the project's environmental management strategy and has been designed to support responsible water handling throughout the execution of the bulk sample program. Commissioning activities are expected to take place over the coming weeks.
In addition, Amex has selected the contractor that will be responsible for the construction of the underground portal, representing another key milestone. Mobilization activities are currently underway, with construction of the portal planned to commence during the week of July 6, 2026. The portal will provide the initial access required for underground development and execution of the 40,000-tonne bulk sample program.
Following a competitive tender process involving three qualified mining contractors, Amex has completed its technical, commercial, and operational evaluation. The Company is currently engaged in contract negotiations with its preferred contractor and expects to provide further details once negotiations are finalized. Mobilization of the underground mining contractor remains planned for late July 2026, supporting the Company's development schedule for the bulk sample program.
In parallel, work associated with the project's permanent electrical infrastructure continues to advance. Connection to Hydro-Québec's hydro-electric grid infrastructure is anticipated later in 2026 / early 2027 and is expected to significantly reduce the project's environmental footprint while supporting future development activities.
Recruitment and contractor mobilization activities are also progressing, with several key personnel and service providers now engaged to support site construction, environmental management, and future underground operations.
Victor Cantore, President and Chief Executive Officer of Amex Gold Mining, commented, "The arrival of the water treatment plant and the selection of the portal contractor represent important milestones for the Perron bulk sample program. Over the past several months, our team has been focused on systematically developing the infrastructure required to safely and responsibly execute the project. With major site preparations progressing, portal construction expected to begin in early July, and key infrastructure now arriving on site, Perron continues to advance toward the next stage of development."
The Perron bulk sample program will involve the development, mining, and processing of approximately 40,000 tonnes of material from the Champagne Zone and is expected to provide valuable technical, operational, and economic information to support future project development decisions.
Qualified Person and QA&QC
The technical information in this news release has been reviewed and approved by Aaron Stone, P.Geo (OGQ - 2170, PGO - 3708), Vice President Exploration of the Company.
About Amex
Amex Gold Mining Inc. has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS) zones, at its
When combined with the adjacent and contiguous Perron West Project and Abbotsford and Hepburn Projects (including additional claims acquired through staking) in Ontario, the consolidated land package spans a district-scale 570.94 km². This extensive property lies within highly prospective geology favourable for both high-grade gold and VMS mineralization.
The Project benefits from excellent infrastructure: it is accessible by a year-round road, located just 30 minutes from an airport, and approximately 6.5 km from the Town of Normétal. It is also in close proximity to several processing plants owned by major gold producers.
For further information please contact:
Victor Cantore
President and Chief Executive Officer
Amex Gold Mining: +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 statements of historical fact, contained in this News Release including, but not limited to those describing the impact of the foregoing on the Perron Gold Project economics, results of the feasibility study for the Phase 1 development of the Perron Gold Project announced by Amex Gold Mining Inc. ("Amex" or the "Company") on April 13, 2026 (the "Feasibility Study" or "FS") (as such results are commented in the text of this News Release), including CAPEX, OPEX, NPV and IRR, the estimated value of the Perron Gold Project, operations development scenarios for the Perron Gold Project, commercial and technical parameters, the attractive economics for the Perron Gold Project, LOM plans, the Company's intended marketing strategy, market trends, future gold prices, the impact of the Perron Gold Project on the local communities, including job creation, the projected annual production of the Company's operations, the timelines and costs related to the various initiatives, deliverables and milestones described in this News Release and their expected results, the Company's expected financial and operational performance, the nature of relationships with stakeholders such as the local community including the Abitibiwinni First Nation, Mineral Resource estimates (including assumptions and estimates used in preparing the Mineral Resource estimates), the general business and operational outlook of the Company, the Company's future growth and business prospects, and those statements which are discussed elsewhere in the News Release which essentially describe the Company's outlook and objectives, constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws, and are based on expectations, estimates and projections as of the time of this News Release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Moreover, these forward-looking statements were based upon various underlying factors and assumptions, including the business relationship between the Company and its stakeholders, the ability to operate in a safe and effective manner, the timely delivery and installation at estimated prices of the equipment supporting the production, assumed sale prices for gold, the accuracy of any Mineral Resource estimates, future currency exchange rates and interest rates, political and regulatory stability, prices of commodity and production costs, the receipt of governmental, regulatory and third party approvals, licenses and permits on favourable terms, sustained labour stability, stability in financial and capital markets, availability of equipment and critical supplies, spare parts and consumables, various tax assumptions, CAPEX and OPEX estimates, the Perron Gold Project permits' status, all economic and operational projections relating to the project, local infrastructures, the Company's business prospects and opportunities and estimates of the operational performance of the equipment, and are not guarantees of future performance.
Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, delays in the scheduled delivery times of equipment, the ability of the Company to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability of financing or financing on favorable terms for the Company, the dependence on commodity prices, the impact of inflation on costs, the risks of obtaining the necessary permits, the operating performance of the Company's assets and businesses, competitive factors in the gold mining and production industry, changes in laws and regulations affecting the Company's businesses, political and social acceptability risk, environmental regulation risk, currency and exchange rate risk, technological developments, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. A further description of risks and uncertainties can be found in the Company's annual Management's Discussion and Analysis, including in the section thereof captioned "Risk Factors", which is available on www.sedarplus.ca. Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management's expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
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