Discovery Of New High Grade Gold Structure On Perron Property

MONTREAL, QC - Amex Exploration Inc. reported the discovery of a new high-grade gold structure by drilling an intersection returning 31.87 g/t Au over 5.10 meters on a new target area on its flagship Perron property. The drill intersection is located approximately 650 meters north-west of the High Grade Zone (HGZ) and 500 meters north-east of the Grey Cat Zone (GCZ) that represents a new gold-bearing area on the property.

Jacques Trottier, PhD Executive Chairman, said, "This new high-grade gold area is a game changer for the Perron project. This discovery demonstrates the tremendous upside of the Perron Property as it lies in an area that we had interpreted as being highly perspective but till now had remained untested. There are many more such targets on the Perron property. This discovery also clearly shows that not only are the main structural contacts of the Beaupre Rhyolite Bloc (BRB) (namely the Normetal Fault to the North and the Perron Fault to the South), gold mineralized structures, but also many of the other major structural features located inside the BRB may also be gold bearing. That by itself is major milestone and has very positive implications for the Perron Project."

The gold mineralization encountered in diamond drillhole PEX-21-041 is associated with quartz veining, quartz-carbonate breccias, silica flooding and strong chlorite-carbonates-biotite alterations. Occurrence of sphalerite, pyrite and traces of chalcopyrite are observed together with a significant amounts of visible native gold grains within the gold-bearing structures. The veining and silicified intervals shows several changes in core axes indicating that the area is possibly folded. As for the HGZ and the GCZ, this new gold interval intersected in hole PEX-21-041 is located at the margin of an enclosed mafic body hosted in the Beaupre rhyolite. The orientation of the intersected gold bearing structures are unknown as there is only a single pierce point.

Hole PEX-21-041 was drilled to test perturbed east-west magnetic lineament that was expected to be a demagnetized mafic intrusive inside the Beaupre Block Amex consulting geologists are planning an aggressive follow-up drilling program around PEX-21-041 to search for the extension and to better understand the geometry of this new mineralized gold structure.