Amex More than Doubles Land Position to Control 500 km2 in the Abitibi Region

Rhea-AI Summary

Amex Exploration (OTCQX: AMXEF) agreed to acquire the Abbotsford and Hepburn projects and staked adjoining ground, boosting its Abitibi footprint from 19,972 ha to 50,108 ha (501.08 km2) and controlling approximately 70 km of Normétal-Burntbush strike. Consideration includes $150,000 cash, 600,000 shares escrowed over 36 months, a 0.5% gross overriding royalty, and contingent cash milestones of $1,000,000 and $500,000. The properties will be subject to an existing 1.5% NSR (assumed on closing), and closing remains subject to TSX Venture approval and standard conditions.

The package adjoins Perron (2.3 Moz resource) and Agnico ground and is positioned for an initial exploration program with potential synergies to the Perron PEA infrastructure.

Positive

• Land position increased to 50,108 ha (501.08 km2)
• Controls approximately 70 km of Normétal-Burntbush strike
• Adjoins Perron 2.3 Moz resource and Agnico ground
• Potential synergy with Perron PEA mine infrastructure

Negative

• Properties subject to aggregate 1.5% NSR plus 0.5% GORR
• Contingent milestone payments total $1.5M in cash
• Issuance of 600,000 shares subject to 36-month escrow (dilution)

News Market Reaction

+4.01%

1 alert

+4.01% News Effect

On the day this news was published, AMXEF gained 4.01%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Land position increase: from 19,972 ha to 50,108 ha (501.08 km2) Strike length controlled: approximately 70 km Upfront cash payment: $150,000 +5 more

8 metrics

Land position increase from 19,972 ha to 50,108 ha (501.08 km2) Abitibi footprint after Abbotsford and Hepburn additions

Strike length controlled approximately 70 km Normétal-Burntbush greenstone belt strike length

Upfront cash payment $150,000 Cash consideration under asset purchase agreement

Share consideration 600,000 shares Issued to vendor, escrowed over 36 months

Milestone payment 1 $1,000,000 Payable on delineating at least 1M oz gold/gold equivalent

Milestone payment 2 $500,000 Payable on disclosing PEA, pre-feasibility or feasibility study

Existing NSR royalty 1.5% NSR Net smelter returns royalty assumed on closing

New gross overriding royalty 0.5% Gross overriding royalty granted on Abbotsford and Hepburn

Market Reality Check

Price: $3.71 Vol: Volume 25,153 is at 0.63x...

low vol

$3.71 Last Close

Volume Volume 25,153 is at 0.63x the 20-day average of 40,185 shares, indicating subdued trading ahead of the news. low

Technical Shares at $2.77 were trading above the 200-day MA of $1.39, reflecting a pre-existing uptrend before this announcement.

Peers on Argus

While AMXEF was down 2.68% pre-news, key gold peers like SRBIF (+7.43%) and WRLG...

While AMXEF was down 2.68% pre-news, key gold peers like SRBIF (+7.43%) and WRLGF (+5.57%) were up, suggesting stock-specific factors rather than a sector-wide move.

Historical Context

5 past events · Latest: Dec 04 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 04	Community engagement	Positive	-1.9%	Expanded community team, opened local offices, launched Perron community website.
Dec 01	Land acquisition	Positive	+4.0%	Doubled land to 50,108 ha and secured 70 km of belt strike.
Nov 21	Equity incentives	Neutral	+1.7%	Granted 3.25M stock options and 2.026M RSUs under incentive plan.
Nov 03	Drilling program	Positive	+0.9%	Announced fully budgeted 2026 drilling up to 100,000m at Perron projects.
Oct 31	Award and PEA	Positive	+3.3%	Won Discovery of the Year and shared high-IRR, high-NPV PEA metrics.

Pattern Detected

Recent positive operational and recognition news often aligned with modest share price gains, though governance and community-related updates have occasionally seen negative or muted reactions.

Recent Company History

Over the last few months, Amex reported multiple positive developments: a major land expansion to 50,108 ha on Dec 1, 2025, drilling plans of up to 100,000m, and a prestigious Discovery of the Year award with a robust PEA outlining an IRR 148.7% and C$3.2B NPV (5%). The company also advanced community engagement and granted equity incentives. Historically, operational growth and value-building milestones tended to coincide with upward price reactions, while corporate or community updates showed more mixed alignment.

Market Pulse Summary

This announcement highlighted Amex’s transformation into a major landholder in the Abitibi, expandin...

Analysis

This announcement highlighted Amex’s transformation into a major landholder in the Abitibi, expanding from 19,972 ha to 50,108 ha and securing about 70 km of greenstone belt strike. The transaction adds both exploration upside and additional royalty layers, with contingent payments tied to 1M+ oz resources and economic studies. Investors may watch for initial exploration programs, follow-up drilling results, and how these properties integrate with the existing Perron development plans.

Key Terms

gross overriding royalty, net smelter returns royalty, preliminary economic assessment, pre-feasibility study, +4 more

8 terms

gross overriding royalty financial

"grant to the vendor a 0.5% gross overriding royalty in respect of the Abbotsford"

A gross overriding royalty is a contractual right that pays its holder a fixed percentage of revenue from the sale of produced minerals, oil, or gas, taken before the producing company deducts operating or capital costs. Think of it like a landlord who collects a slice of every sale from a shop on the property rather than sharing in the shop’s profits; it reduces the producer’s cash receipts on each unit sold without requiring the royalty holder to share costs or ownership. Investors care because it lowers future cash flow and project valuation per unit produced, can be transferable, and affects how attractive a resource or company appears compared with similar assets without such claims.

net smelter returns royalty financial

"subject to an existing 1.5% net smelter returns royalty in favour of Gravel Ridge"

A net smelter returns (NSR) royalty is a contractual right to receive a percentage of the revenue generated from mined minerals after the ore has been processed and sold, with common deductions for refining, smelting and transport costs. Think of it like a landlord taking a slice of a tenant’s monthly sales after the tenant pays basic operating bills. Investors care because an NSR affects the future cash flow and valuation of a mining project and shifts some upside and downside risk away from the operator to the royalty holder.

preliminary economic assessment technical

"payable upon the Company disclosing a preliminary economic assessment, pre-feasibility"

A preliminary economic assessment is an initial analysis that estimates the potential profitability and feasibility of a project or resource, such as a new mineral deposit or development venture. It provides a rough idea of costs, benefits, and risks, helping investors decide whether to pursue more detailed studies. This early evaluation is important because it offers a snapshot of whether the project is worth further investment and development.

pre-feasibility study technical

"disclosing a preliminary economic assessment, pre-feasibility study or a feasibility study"

A pre-feasibility study is an initial assessment that evaluates whether a proposed project or investment idea is worth exploring further. It involves examining basic factors like costs, potential benefits, and possible challenges, similar to conducting a preliminary check before deciding to invest more time and resources. This helps investors determine if pursuing the project further is practical and likely to be successful.

feasibility study technical

"preliminary economic assessment, pre-feasibility study or a feasibility study in respect"

A feasibility study is an assessment that evaluates whether a proposed project or idea is practical and likely to succeed before investing significant time and resources. It considers factors like costs, potential benefits, and challenges, helping stakeholders decide if moving forward makes sense. Think of it as a detailed plan that gauges if a new venture is worth pursuing.

National Instrument 43-101 regulatory

"those terms are defined in National Instrument 43-101 - Standards of Disclosure"

National Instrument 43-101 is a set of rules and guidelines that govern how mineral exploration and mining companies must report information about their projects. It ensures that the details shared with investors are accurate, consistent, and reliable—similar to how a detailed, verified blueprint ensures a building’s safety. This helps investors make informed decisions based on trustworthy information about a company's mineral resources.

mineral resource technical

"mineral resource and/or mineral reserve (of any category or any combination"

A mineral resource is a naturally occurring concentration of minerals in the ground that is considered valuable and likely recoverable based on geological evidence and preliminary studies. For investors, it signals the potential size and worth of a deposit—like a marked treasure area on a map—while also carrying uncertainty about how much can actually be mined and at what cost, affecting project value and risk.

mineral reserve technical

"mineral resource and/or mineral reserve (of any category or any combination"

Mineral reserve is the portion of a mineral deposit that geological and engineering studies show can be legally and economically extracted with current technology and market prices. Investors treat reserves like a company’s usable inventory: they underpin revenue forecasts, the expected life of a mine, asset valuation and borrowing capacity, so increases or decreases in reserves directly affect profitability and investment risk.

AI-generated analysis. Not financial advice.

Becomes one of the largest land holders in the Abitibi region - holds 70 km along strike of Normétal-Burntbush greenstone belt

Montreal, Quebec--(Newsfile Corp. - December 1, 2025) - Amex Exploration Inc. (TSXV: AMX) (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 arm's length vendor to acquire two projects immediately adjacent to the existing Amex land package, individually named the Abbotsford Project and the Hepburn Project (the "Transaction"). In addition to these acquisitions, the Company has acquired, through claim staking, the continuation of these greenstone belts, and now controls approximately 70 km of strike length of the prolific Abitibi greenstone belt (see Figure 1). When combined with the existing land holdings of Perron and Perron West, the Company will increase its footprint from 19,972 hectares (199.72 km²) to 50,108 hectares (501.08 km²).

Amex has extended its holdings to the northwest along the Normétal-Burntbush greenstone belt, which hosts Perron's 2.3 million ounce resource (see press release dated May 21, 2025).

Details of the acquisitions and claim staking are as follows:

• The Abbotsford Project consists of 242 claims for a total of 6,253.47 hectares;
• The Hepburn Project consists of 82 claims for a total of 2,139.45 hectares;
• 890 claims acquired though staking for the continuation of the Abbotsford project for a total of 18,753.17 hectares; and
• 141 claims acquired through claim staking 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 see the Normétal-Burntbush greenstone belt, which adjoins the Casa Berardi deformation zone to the northwest, as being extremely prospective for future gold and VMS discoveries. With these acquisitions, we have constructed a truly district scale land package which is controlled by one company, rarely seen in the Abitibi region. The Normétal-Burntbush greenstone belt remains heavily underexplored for gold, while holding several historical showings that never had substantial follow-up work. It is also exciting to now hold land adjoining the Casa Berardi break, which also contains important fertile structures that warrant further work."

The Amex land package now neighbours Agnico Eagle's Abitibi properties along the Casa Berardi break in Ontario. As can be seen in Figure 1, Agnico's project holds several gold showings along a NE-SW strike, of which any potential continuation of mineralization would be trending towards the new Amex claims. The Company looks forward to designing an initial exploration program on this underexplored package.

In addition to the continuation of the Normétal-Burntbush greenstone belt, the Company also acquired the Hepburn Project, and staked claims further to the west. The Hepburn Project contains mafic to intermediate metavolcanic rocks that hold numerous gold and copper showings which warrant further exploration work (See Figure 1).

Amex envisages that any future discoveries made on the new land package would have synergies with the proposed mine infrastructure on the Perron Project in Quebec (see updated PEA press release dated September 4, 2025 for more information).

Figure 1: Geological map of the Normétal-Burntbush greenstone belt adjoining the Casa Berardi deformation zone, showing the Perron and Perron West Projects as well as Amex's newly acquired and staked ground.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2667/276418_c998576cf43ee822_002full.jpg

Transaction Details

The Company, as purchaser, entered into the APA with an arm's length vendor to acquire the Abbotsford Project and the Hepburn Project (collectively, the "Properties"). Pursuant to the APA, the Company will:

(i) pay to the vendor aggregate cash consideration of $150,000;

(ii) issue to the vendor a total of 600,000 common shares (each, a "Share") in capital of the Company, subject to certain contractual resale restrictions providing for a staggered release of the Shares from escrow over a 36-month period;

(iii) grant to the vendor a 0.5% gross overriding royalty in respect of the Abbotsford Project and the Hepburn Project pursuant to the terms and conditions of a gross overriding royalty agreement to be entered into between the Company and the vendor on closing; and

(iv) make the following additional milestone payments to the vendor:

(a) a further $1,000,000, to be satisfied in cash, payable upon the Company disclosing a mineral resource and/or mineral reserve (of any category or any combination of categories) in respect of the Properties delineating at least one million ounces of gold and/or gold equivalent; and

(b) a further $500,000, to be satisfied in cash, payable upon the Company disclosing a preliminary economic assessment, pre-feasibility study or a feasibility study in respect of the Properties, as those terms are defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

The Properties are currently subject to an existing 1.5% net smelter returns royalty in favour of Gravel Ridge Resources Ltd. and 1544230 Ontario Inc., which will be assumed by Amex on closing. Accordingly, upon closing, the Properties will be subject, in aggregate, to a 1.5% NSR and an additional 0.5% gross overriding royalty.

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 instruments of conveyance, 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 news 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 grades of exploration targets discussed in this news release are conceptual in nature. The Qualified Persons have not completed sufficient work to verify historical information on the Properties and it is uncertain if further exploration will result in any 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 news release and investors should use caution in placing reliance on such information. The information provides an indication of the exploration potential of the Properties but may not be representative of expected results.

About Amex

Amex Exploration Inc. has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS) zones, at its 100%-owned Perron Gold Project, located approximately 110 kilometres north of Rouyn-Noranda, Quebec. The Perron Project in Quebec consists of 183 contiguous claims for a surface area of 65.75 km². The project hosts both bulk-tonnage and high-grade gold mineralization styles.

When combined with the adjacent and contiguous Perron West Project in Ontario, which includes 35 claims (33 multi-cell and 2 single cell claims) for 134.55 km², the consolidated land package spans a district-scale 200.30 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 process plants owned by major gold producers.

For further information please contact:

Victor Cantore
President and Chief Executive Officer
Amex Exploration: +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, planned exploration programs, the expected positive exploration results, the extension of mineralized zones, the ability of the Company to continue with exploration programs, the availability of the required funds to continue with the exploration, the Company's plans for further drilling and exploration, the Company's ability to obtain all required approvals to complete the Transaction, and 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, the historical estimates may turn out to be inaccurate; additional drilling and exploration may lead to a determination that there is no potentially viable mine plan for the Property; general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals, 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276418

FAQ

What landholding size did Amex (AMXEF) reach with the December 1, 2025 acquisitions?

Amex increased its footprint to 50,108 hectares (501.08 km2), up from 19,972 ha.

How much strike length of the Normétal-Burntbush belt does Amex (AMXEF) control after the deal?

Amex now controls approximately 70 km of strike along the Normétal-Burntbush greenstone belt.

What are the immediate cash and share consideration terms for Amex's (AMXEF) Abbotsford and Hepburn purchase?

Consideration includes $150,000 cash and issuance of 600,000 common shares with staggered release over 36 months.

What royalties and existing encumbrances will burden the acquired Amex (AMXEF) properties on closing?

On closing the properties will be subject to an existing 1.5% NSR plus a newly granted 0.5% gross overriding royalty.

What contingent milestone payments must Amex (AMXEF) make related to the new properties?

Amex will pay $1,000,000 on disclosure of ≥1 million ounces resource and $500,000 on disclosure of a PEA/PFS/FS.

Is the Amex (AMXEF) transaction closed and final as of December 1, 2025?

No; the Transaction remains subject to closing conditions including execution of agreements and TSX Venture Exchange approval.