Amex Exploration Inc. develops and explores gold projects in the Abitibi Greenstone Belt, with news centered on the Perron gold project in Québec and Perron West in Ontario. Company updates commonly cover drill results, grade-control work, bulk-sample permitting, feasibility-study economics, toll-milling development plans, and exploration targeting across its gold and VMS prospective land package.
Amex (OTCQX: AMXEF) filed an NI 43-101 Updated Preliminary Economic Assessment for the 100% owned Perron gold project, effective September 4, 2025. The PEA uses a US$2,500/oz gold price and C$/US$1.38 exchange rate and models a staged development with Phase 1 toll-milling (1,000 tpd) targeting 2028 and Phase 2 owner-operated expansion (2,000 tpd).
Key metrics: LOM 1.66M oz Au, average LOM grade 5.07 gpt, initial net CAPEX $77.5M, LOM AISC US$1,061/oz, after-tax NPV $1,085M, after-tax IRR 70.1%.
Amex Exploration (OTCQX:AMXEF) has initiated a Feasibility Study for Phase 1 of its Perron gold project in Quebec, Canada, following positive results from their recent Preliminary Economic Assessment (PEA). The study, expected to complete by Q1 2026, focuses on a 1,000 tonnes per day contract mining operation with toll-milling capabilities.
Key financial metrics include a low initial capital cost of $146.1M, offset by pre-production revenues of $68.6M for a net CAPEX of $77.5M. The project anticipates average annual gold production exceeding 100,000 oz with an AISC of US$1,165/oz Au and an average diluted head grade of 10.07 g/t. Production is targeted to begin in 2028, with Phase 2 development planned to be financed through Phase 1's free cash flow.
Amex Exploration (OTCQX:AMXEF) has submitted a ministerial authorization request for an underground bulk sampling program at its Perron gold project in Quebec's Abitibi-Témiscamingue region. The company has engaged Norda Stelo engineering firm to conduct environmental studies and prepare the application.
The bulk sample will be collected at a 230-meter vertical depth, focusing on the Champagne and Denise zones. The program aims to enhance geological understanding, validate resource estimates, confirm mining concepts, and obtain material for processing tests. Subject to regulatory approval, work is expected to begin in Q1 2026, with approximately 15 months of mine preparation before bulk sampling can commence.
Amex Exploration (OTCQX:AMXEF) has released an updated Preliminary Economic Assessment (PEA) for its Perron gold project in Quebec, demonstrating robust economics with a post-tax IRR of 70.1% and NPV of C$1,085M at US$2,500/oz gold.
The project features a two-phase development strategy: a 4-year toll milling operation at 1,000 tpd followed by a 13-year on-site processing plant at 2,000 tpd. Phase 1 requires low initial capital of C$77.5M net, while Phase 2 needs C$191.6M in growth capital.
The mine will produce an average of 112,000 oz gold annually over the first 10 years, with a total life-of-mine production of 1.66M oz over 17.5 years at an attractive AISC of US$1,061/oz. The project benefits from high grades (5.07 g/t average) and existing infrastructure in the prolific Abitibi region.
Amex Exploration (OTCQX:AMXEF) has announced impressive results from its updated Preliminary Economic Assessment (PEA) for the wholly-owned Perron gold project in Quebec. The project features a two-stage production strategy with a Phase 1 4-year toll milling operation at 1,000 tpd, followed by Phase 2 with a 13-year on-site processing plant at 2,000 tpd.
Key financial metrics include a post-tax IRR of 70.1% and NPV of C$1,085M at US$2,500/oz gold price. The project boasts average annual production of 95,000 oz gold over its 17.5-year mine life, with higher production of 112,000 oz annually in the first 10 years. Initial capital costs are C$146.1M, partially offset by C$68.6M in pre-production revenues.
The project demonstrates strong economics with a post-tax payback period of 1.4 years and competitive All-in Sustaining Costs (AISC) of US$1,061/oz. The mine plan combines underground and open-pit operations, with processing recovery rates of 95%.
Amex Exploration (OTCQX:AMXEF) has appointed Phil Brumit and Peter Damouni to its Board of Directors, marking a strategic shift towards advancing the Perron Gold Project into production. Brumit, who brings over 45 years of mining industry experience from companies like Lundin Mining and Newmont Corporation, will lead the newly formed Project Development Technical Team.
The appointments strengthen Amex's leadership with Brumit's extensive mine-building expertise and Damouni's 20+ years of corporate and investment banking experience. The Perron project is positioned as a tier-one asset, featuring high-grade gold deposits and access to major infrastructure including power, roads, skilled labor, and housing in a safe jurisdiction.
Amex Exploration (OTCQX:AMXEF) has filed an updated NI 43-101 Mineral Resource Estimate (MRE) Technical Report for its 100% owned Perron Gold Project in Quebec, Canada. The report, effective May 21, 2025, reveals significant resource growth with total Measured & Indicated Resources of 1.615 Moz at 6.14 g/t Au and Inferred Resources of 698 koz at 4.31 g/t Au.
The Champagne Zone showcases high-grade resources of 831 koz at 16.20 g/t Au in the Measured & Indicated category. The update represents a 172% increase in M&I Resources with a 43% increase in grade compared to the 2024 estimate. The company's land package has expanded from 45.6 to 197.5 km², offering additional exploration potential.
Amex Exploration (OTCQX: AMXEF) held its annual general meeting on June 30, 2025, where shareholders approved all proposed items. Key changes include the election of new directors Phillip S. Brumit Sr. and Peter Damouni, while longstanding Executive Chairman Jacques Trottier retired after serving since 2002.
Shareholders approved a new omnibus equity incentive plan replacing the previous stock option plan. The plan allows for various incentive awards up to 10% of outstanding shares, including stock options, restricted share units, and performance share units. The company also clarified that Milestone Payments for the Perron West Project acquisition cannot be paid in company shares.
Amex Exploration (TSXV: AMX, OTCQX: AMXEF) has contracted Norda Stelo to conduct environmental baseline studies for its Perron project. The study will assess pre-construction environmental conditions, including air, water, soil, and biotic resources.
The 2025 work plan focuses on surface and groundwater analysis, along with aquatic, humid, and natural environment characterization. This initiative follows the company's PEA study and represents a important step toward production.
Norda Stelo, with experience in over 120 environmental and social management projects, specializes in mining project development in Quebec, offering services in environmental studies, technical assessments, and environmental permits.