Amex Takes Aim at Multiple New Gold Targets in Regional Exploration Drill Program at Perron

MONTREAL, Jan. 28, 2020 (GLOBE NEWSWIRE) -- Amex Exploration Inc. (“Amex or the Company”) (TSX-V: AMX, FRA: MX0, OTCQX: AMXEF) is very pleased to report the results of a high resolution drone magnetic survey on its Perron property in northwestern Quebec, Canada (see figures 1 and 2 below).

The magnetic survey was completed over the highly prospective Beaupre block, in which Amex has identified the Eastern Gold Zone (EGZ), the Gratien Gold Zone (GGZ), the Central Polymetallic Zone (CPZ), and the Grey Cat Zone (GCZ). The objective of this survey was to identify structural targets which may be associated with additional zones of gold mineralization, especially in areas within this large block that have been highly underexplored. The drone survey data was then combined with and compared to a helicopter magnetic and EM survey completed by Agnico Eagle Mines Limited in 2014 and regional datasets completed by the Quebec, Ontario, and federal governments to provide a comprehensive regional picture. Amex is currently executing a 100,000 m drill campaign on Perron, of which 20,000 m is dedicated to a regional exploration program. Multiple structural geologists and geophysicists with international experience in the field have reviewed and interpreted the dataset in consultation with the Amex geological team.

Victor Cantore, CEO of Amex, commented, “This magnetic survey is of exceptional quality and has provided Amex with an immense amount of structural data. The gold mineralization at Perron is highly controlled by structures and can be difficult to identify with electrical methods including EM and IP, and thus we rely heavily on structural data derived from magnetic surveys, outcrops, and drillcore to determine our drill targets. This new dataset has identified numerous cryptic faults which may be associated with gold mineralization. Of particular interest, is the western portion of the Beaupre block, where our geological team has identified targets that are analogous to the known zones of gold mineralization at Perron. We currently have a drill testing these western targets, which have seen very little to no surface exploration or drilling in the past. Our geological model has been highly successful in the past, identifying the EGZ, the GCZ and high-grade gold mineralization at the GGZ. I am very optimistic that the data from this survey will be accretive to this model and help us to efficiently use our 20,000 m of regional drilling to locate more gold zones in the Beaupre Block.”