AMEX Gold Mining Inc. (TSX-V: AMX) (FSE: MX0) (OTCQX: AMXEF) is pleased to announce the first results from its recently commenced resource conversion drill program at its flagship Perron Project in the northwestern Abitibi region of Quebec (Figure 1). The program aims to upgrade Inferred resources to Measured and/or Indicated to be included in future advanced economic studies. Please see Figure 2 for the location of today’s announced drill results. See Figure 3 for images of visible gold mineralization and Tables 1 and 2 for drill hole results and coordinates.

Drill highlights from the conversion drilling completed to date include:

• 114.07 g/t Au over 1.00 m including 227.46 g/t Au (and 17.90 g/t Ag) over 0.50 m at a vertical depth of ~187 m in hole PE-26-959 of the Denise Zone
• 29.86 g/t Au over 2.50 m including 126.24 g/t Au (and 20.80 g/t Ag) over 0.50 m at a vertical depth of ~220 m in hole PE-26-957 of the Denise Zone
• 11.42 g/t Au over 1.85 m including 23.79 g/t Au (and 5.00 g/t Ag) over 0.85 m at a vertical depth of ~471 m in hole PE-26-960 of the Champagne Zone

The initial stages of the resource conversion program have focused on the first 600 vertical metres of the Denise and Champagne Zones. Note that the vast majority of resources in the top 600 m of the Champagne Zone were already in the M&I category, so only two conversion drill holes were required, meaning that almost all conversion drilling completed to date has been focused on the Denise Zone.

In addition to the resource-conversion drilling, exploration drilling east of the current Denise Zone has potentially expanded the mineralized footprint by approximately 320 m. Drill hole PE-26-936 returned 3.33 g/t Au over 12.70 m, including 47.73 g/t Au (and 14.50 g/t Ag) over 0.80 m at a vertical depth of ~172 m (see Figure 2). This is an encouraging exploration development, as minimal drilling has been completed in the extreme southeast corner of the Beaupré Block. As the Denise Zone expands east and the Team Zone advances to the southeast, the possibility for the two zones to meet one another becomes more realistic. Further exploration drilling in the southeast extremity of the Beaupré Block is therefore planned.

“The resource conversion drill program is off to a strong start,” said Aaron Stone, Vice President Exploration of Amex Gold Mining. “Our initial focus has been on the first 600 vertical metres of mineralization within the Champagne and Denise zones. Given that the vast majority of Champagne Zone resources within this interval were already classified as Measured and Indicated resources, only two drill holes were required there, with most of the program to date focused on the Denise. High-grade results encountered in holes such as PE-26-957 and PE-26-959 are particularly encouraging given that the targeted grade of the inferred stopes averages approximately 2.5 g/t Au. These results present an opportunity to not only upgrade these resources but also to potentially add ounces in the targeted area. These results in the conversion program are important in increasing confidence in the economics of the second phase of the operation.”

Figure 1: Geological map of the Perron Project

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Figure 2: Geological map displaying the location of today’s released drill holes with grades of assay results as well as the possible extension of the Denise Zone to the east.

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*Readers are cautioned that the 320 m eastward expansion of the Denise Zone will require further drilling to confirm continuity of mineralization.

Figure 3: Photos displaying visible gold mineralization from drill holes PE-26-957 and PE-26-959 presented today. Gold mineralization is present in quartz-carbonate-sulphide veins hosted within the rhyolite of Beaupré Block.

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Table 1: Assay results from today’s released holes on the Perron Property.

*Intervals are expressed in core length and not true thickness. True thicknesses are approximated at 50-80 % of core intervals.

Table 2: Drill hole coordinates for today’s results on the Perron Property.

About Amex

Amex Gold Mining Inc. has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide zones, at its 100%-owned Perron Gold Project. It is located in the territory of Valcanton in northern Quebec, approximately 110 kilometres north of Rouyn-Noranda.

The Perron Project in Quebec consists of 183 contiguous claims for a surface area of 65.72 km². The project hosts several zones of high-grade gold mineralization, VMS mineralization and “hybrid” gold-rich VMS mineralization.

When combined with the adjacent and contiguous Perron West Project and Abbotsford and Hepburn Projects (including additional claims acquired through staking) in Ontario, the consolidated land package spans a district-scale 570.94 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. Being in close proximity to several processing plants owned by major gold producers also constitutes a strategic advantage.

Qualified Persons and QA/QC

The technical information in this news release has been reviewed and approved by Aaron Stone, P.Geo (OGQ – 2170, PGO – 3708), Vice President, Exploration of the Company and Jérôme Augustin Ph.D. P.Geo., (OGQ – 2134), an Independent Qualified Person as defined by Canadian NI 43-101 standards. The drilling campaign and the quality control program have been planned and supervised by Jérôme Augustin. Core logging and sampling were completed by Laurentia Exploration.

The quality assurance and quality control protocols include insertion of blank or standard samples every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard samples accredited by Laboratoire Expert and AGAT Laboratories Ltd., during the analytical process.

For all analyses targeting gold mineralization, gold values are estimated by fire assay with finish by atomic absorption. Values over 3 ppm Au are reanalyzed by fire assay with finish by gravimetry by Laboratoire Expert Inc., Rouyn-Noranda. Samples containing visible gold mineralization are analyzed by metallic sieve. For additional quality assurance and quality control, all samples were crushed to 90% less than 2 mm prior to pulverization, in order to homogenize samples which may contain coarse gold.

For all analyses targeting gold and base metals mineralization, gold, platinum and palladium values are estimated by lead fusion fire assay with atomic absorption spectroscopy finish, by AGAT Laboratories. Metals and trace elements values are estimated using four acid digestion with ICP-OES/MS finish, by AGAT Laboratories. For additional quality assurance and quality control, all samples were crushed to less than 2 mm, and then to 85% passing 75 µm, in order to homogenize samples which may contain coarse gold.