Amex Exploration Inc. (TSX-V: AMX) (FSE: MX0) (OTCQX: AMXEF) is pleased to announce that further to its press releases of October 1, 2024, October 7, 2024 and October 17, 2024, it has successfully closed it’s non-brokered private placement through the issuance of 5,734,000 units of the Company at a price of C$1.15 per Unit for aggregate proceeds of C$6,594,100.

Each Unit was comprised of one common share and one half of one Common Share purchase warrant of the Company. Each Warrant is exercisable to acquire one Common Share for a period of 24 months following the Closing Date of the Offering at an exercise price of C$1.40 per common share, subject to adjustment in certain events.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions, the Units were offered for sale to purchasers resident in Canada and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. Because the Offering is being completed pursuant to the Listed Issuer Financing Exemption, the Units issued pursuant to the Offering will not be subject to a hold period pursuant to applicable Canadian securities laws.

The Company will use the proceeds of the Offering to fund the advancement of the Company’s Preliminary Economic Study on its wholly owned 100% owned high-grade Perron Gold Project and general working capital purposes. The Company is well funded for its current exploration program. In connection with the Offering, certain eligible finders received cash commissions in the aggregate of $34,212.50.

The Offering constituted a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions as an insider of the Company acquired 870,000 Units pursuant to the Offering. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the Company is not listed on a specified market and the fair market value of the participation in the Offering by the insider does not exceed 25% of the market capitalization of the Company in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the of the Offering, which the Company deems reasonable in the circumstances in order to complete the Offering in an expeditious manner.

In addition, the Company is pleased to announce that it has filed a National Instrument 43-101 Standards of Disclosure for Mineral Projects Mineral Resource Estimate technical report for AMEX’s 100% owned Perron gold project in Quebec, Canada, with an effective date of September 05, 2024. Report results were previously announced in AMEX’s news release dated September 5, 2024.

GoldMinds Geoservices Inc. is responsible for the overall Report and was prepared in collaboration with Laurentia Exploration Inc. The Qualified Persons as defined under NI 43-101, are Claude Duplessis, Eng., Merouane Rachidi, P.Geo., Ph.D, and Jérôme Augustin P.Geo. Ph.D.

The Report is available on Company’s website (www.amexexploration.com) and on SEDAR+ (www.sedarplus.ca).

The securities referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, “U.S. Persons” (as such term is defined in Regulation S under the U.S. Securities Act) absent such registration or an applicable exemption from the registration requirements of the U.S. Securities Act. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

About Amex

Amex Exploration Inc. has made significant gold discoveries on its 100% owned high-grade Perron Gold Project located ~110 kilometres north of Rouyn-Noranda, Quebec, consisting of 117 contiguous claims covering 4,518 hectares. The project is well-serviced by existing infrastructure, on a year-round road, 10 minutes from an airport and just outside the town of Normétal (~8 km). In addition, the project is in close proximity to a number of major gold producers’ milling operations. The project host both bulk tonnage and a high-grade gold style mineralization. Since January 2019, Amex has intersected significant gold mineralization in multiple gold zones and discovered copper-rich VMS zones.