Amex Expl Stock Price, News & Analysis

Amex Exploration Inc. (OTCQX: AMXEF) is a mineral exploration company focused on gold and copper-rich volcanogenic massive sulphide (VMS) targets in the Abitibi region of Canada. The company is best known for its 100%-owned Perron Gold Project, located approximately 110 kilometres north of Rouyn-Noranda, Quebec, which hosts both bulk-tonnage and high-grade gold mineralization styles.

The Perron Project consists of a large, contiguous package of mining claims in Quebec. In various technical and corporate updates, Amex describes the project as comprising more than one hundred contiguous claims over several tens of square kilometres. The project area lies within geology that Amex characterizes as highly prospective for both high-grade gold and VMS mineralization. The property benefits from established regional infrastructure: it is accessible by a year-round road, is within a short driving distance of an airport, and is located only a few kilometres from the town of Normétal. Amex also notes the proximity of several processing plants and milling operations owned by major gold producers in the broader Abitibi region.

Core Projects and Land Package

Amex Exploration presents Perron as its flagship asset and highlights multiple gold discoveries on the property, including zones such as the Eastern Gold Zone and the Champagne Zone. The company reports that Perron hosts both bulk-tonnage style mineralization and narrower, high-grade gold zones. In addition to gold, Amex has reported copper-rich VMS zones on the property, reflecting the polymetallic potential of the underlying greenstone belt.

Adjacent to Perron, Amex has assembled additional ground that it refers to as the Perron West Project in Ontario and, in subsequent transactions, the Abbotsford and Hepburn projects in Ontario. Through a combination of project acquisitions and claim staking, Amex states that it now controls a district-scale land package extending along the Normétal-Burntbush greenstone belt and adjoining the Casa Berardi deformation zone. In one news release, the company indicates that when Perron, Perron West, Abbotsford and Hepburn are combined, the consolidated land position covers more than 500 km² and approximately 70 km of strike length of this belt.

Amex emphasizes that this expanded land position contains numerous historical gold and copper showings and is considered by the company to be underexplored for gold. The company has indicated that it intends to design exploration programs across this broader package, with the potential for any new discoveries to benefit from infrastructure envisaged at Perron.

Exploration and Technical Work at Perron

Amex has carried out extensive drilling at Perron and has reported multiple high-grade gold intercepts, particularly in the Champagne Zone within the Eastern Gold Zone area. In a geomechanical drill program on the Champagne Zone, conducted as part of a Phase 1 Feasibility Study, the company reported assay results that included very high gold grades over selected intervals. These holes were primarily designed to gather rock mechanics data, but the company notes that the results also demonstrate the continuity and strength of high-grade mineralization.

Beyond resource drilling, Amex has undertaken geomechanical, hydrogeological, geochemical and other technical studies to support mine design work. Televiewer surveys and rock mass characterization have been used to define joint sets, fault orientations and rock strength parameters within the rhyolite and intrusive units that host mineralization in the Champagne Zone. The company indicates that these data will be used to support mine design and numerical stress modelling for future underground operations.

Preliminary Economic Assessment and Development Strategy

Amex has filed an NI 43-101-compliant Updated Preliminary Economic Assessment (PEA) for the Perron Gold Project. The PEA incorporates a Mineral Resource Estimate and outlines a two-phase development concept. According to the company, the PEA contemplates an initial Phase 1 contract mining and toll-milling operation in the Abitibi region, followed by a Phase 2 owner-operated mine with an on-site processing facility. The PEA describes a staged production strategy, with Phase 1 envisioned as a lower-throughput operation using existing regional processing plants, and Phase 2 as a larger-scale operation with on-site processing.

The company states that the PEA includes estimates of life-of-mine (LOM) production, grades, operating costs, capital costs, net present value (NPV), internal rate of return (IRR) and payback period, based on assumed gold prices and exchange rates. Amex emphasizes that the PEA is preliminary in nature, relies in part on inferred mineral resources, and does not represent a mineral reserve. The company notes that mineral resources that are not mineral reserves have not demonstrated economic viability and that additional drilling would be required to upgrade resources.

Feasibility Study and Bulk Sample Program

Building on the PEA, Amex has announced that it has commenced a Feasibility Study (FS) for Phase 1 of the Perron project. The company indicates that this FS focuses on the initial contract mining and toll-milling scenario described in the PEA. Amex reports that it is working with several Quebec-based consulting firms, including Evomine Consulting Inc. and other engineering and technical groups, to prepare the FS and associated studies.

In parallel, Amex has submitted a ministerial authorization request under Quebec’s Environment Quality Act for an underground bulk sampling program at Perron. The application, prepared with the support of engineering firm Norda Stelo, covers a bulk sample to be taken at a vertical depth of approximately 230 metres, primarily targeting the Champagne and Denise zones. According to the company, the objectives of this bulk sample are to improve geological understanding of the ore zones, validate parameters used in the resource estimate, confirm mining concepts and obtain mineralized material for large-scale metallurgical testing. Amex describes this program as a way to reduce geological, technical and financial risk for the project.

In a later update, Amex states that it has advanced planning for the bulk sample and Phase 1 Feasibility Study, including detailed designs for underground infrastructure such as portals, ramps, development headings and stopes. The company notes that it has progressed requests for quotations for long-lead items, engaged in discussions with contractors and equipment and infrastructure providers, and entered advanced discussions for bulk sample milling at facilities in the Abitibi region. The company also mentions that a composite of mineralized material from the Champagne Zone has been sent to a metallurgical laboratory to further refine metallurgical understanding and assess compatibility with flow sheets of local mills.

Exploration Programs and Drilling

Amex has outlined extensive exploration plans at Perron and across its broader land holdings. The company has described drill programs focused on expanding known zones such as the Champagne, Team, E2, Denise, JT and Alizée zones within the Eastern Gold Zone area, as well as testing the Central Polymetallic Zone, which the company characterizes as a gold-rich VMS system. Amex notes that many of these zones remain open for expansion and that drilling is designed to test extensions along strike and at depth, refine geological interpretations and evaluate new targets identified through data review.

In addition to resource-focused drilling, Amex has planned condemnation drilling in areas where surface infrastructure is proposed, such as the Alizée Zone. The company explains that this drilling is intended to confirm whether near-surface mineralization is present that could influence mine planning, including potential open-pit scenarios, and that mine plans could be adjusted if significant mineralization is encountered.

Community Relations and Local Engagement

Amex has described a range of community engagement initiatives related to the Perron Project. The company reports that it has presented the project to local communities, including the Locality of Valcanton and the City of Normétal, to review ongoing activities and discuss development plans in the historical Normétal Mining Camp. Amex characterizes these meetings as opportunities to strengthen relationships with local stakeholders and to respond to questions from community members and leaders.

To support ongoing engagement, Amex has expanded its community relations team and announced the opening of community offices in Valcanton and Normétal. According to the company, these offices are intended to provide accessible spaces where residents can meet with company representatives, ask questions and obtain information about the project. Amex has also launched a dedicated community website for the Perron Project, which it describes as a resource for project details, news and related materials.

Corporate and Capital Markets Information

Amex Exploration Inc. is listed on the TSX Venture Exchange under the symbol AMX, on the Frankfurt Stock Exchange under the symbol MX0, and on the OTCQX market in the United States under the symbol AMXEF. The company has disclosed the use of equity-based compensation, including incentive stock options and restricted share units, under an omnibus equity incentive plan approved by shareholders. These grants are described as being subject to vesting schedules and hold periods in accordance with exchange policies.

Amex’s news releases frequently include statements identified as forward-looking information under applicable securities laws, particularly in relation to project economics, development scenarios, timelines, permitting, exploration potential and community impacts. The company notes that such statements are subject to risks and uncertainties and that actual results may differ from those expressed or implied.

How Amex Exploration Fits in the Gold Sector

Within the basic materials sector and gold industry classification, Amex Exploration positions itself as a company focused on high-grade gold discoveries and polymetallic VMS potential in a well-known Canadian mining camp. Its disclosures emphasize the combination of high-grade underground-style mineralization, bulk-tonnage potential, and access to regional infrastructure and processing facilities. Through the consolidation of Perron, Perron West and additional projects such as Abbotsford and Hepburn, Amex presents itself as controlling a large, continuous land package along a prospective greenstone belt, which it views as favourable for further gold and VMS exploration.