Denise Highlight Results

• 1.58 g/t Au over 38.80 metres at a vertical depth of approximately 150 metres in hole PE-21-243
• 1.2 g/t Au over 18.90 metres at a vertical depth of approximately 80 metres and 0.70 g/t Au over 23.10 metres at a vertical depth of approximately 30 metres in hole PE-21-246
• 1.32 g/t Au over 13.50 metres at a vertical depth of approximately 90 metres in hole PE-21-249
• 1.79 g/t Au over 14.25 metres at a vertical depth of approximately 45 metres in hole PE-21-250
• 3.14 g/t Au over 12.00 metres at a vertical depth of approximately 170 metres in hole PE-21-262
• 2.52 g/t Au over 8.00 metres at a vertical depth of approximately 300 metres in hole PE-21-270
• 2.25 g/t Au over 16.35 metres at a vertical depth of approximately 95 metres in hole PE-21-277

Amex Exploration Inc. (TSX-V: AMX) (FSE: MX0) (OTCQX: AMXEF) is pleased to report drill results focused on definition and expansion drilling of the Denise Zone of the Eastern Gold Zone on the Perron Gold Project, Quebec. For reference the Denise Zone is approximately 20 to 100 m south of the High Grade Zone where the Company recently reported 79.22 g/t Gold over 6.15 Metres Including 929.24 g/t Gold over 0.50 Metres (press release June 28, 2021). See Figure 1 for a plan view of the geology of the EGZ and the mineralized zones.

Kelly Malcom Vice President of Amex Exploration will be speaking with InvestInGold on the Thursdays 10@10 segment this coming Thursday, July 15, 2021 at 10 am EDT. Kelly will give a brief 10 min presentation followed by 10 min Q&A. To register please click here.

Today’s results are focused on on-strike expansion as well as definition drilling of the Denise Zone as the Company works towards its maiden resource on the Perron Project. Today’s results expand the lateral strike of the Denise Zone by 100 m, bringing the lateral near surface strike of the Denise Zone to 450 m. A complete list of results is available in Table 1 and presented in Figure 2.

Jacques Trottier, PhD Executive Chairman of Amex said, “We have recently drilled a significant amount of near-surface holes into the Denise zone, as shown in Figure 2. Today’s results show only a fraction of the holes drilled on Denise with a number of holes still pending. It is our expectation that Denise will contribute a meaningful number of ounces in our upcoming maiden resource. Of particular interest are drillholes PE-21-262, 270, 273, and 277, all of which expand the Denise Zone eastward and even to the east of a cross-cutting late diabase dyke. This is meaningful in terms of continued strike expansion potential, as gold mineralization is strong and clearly present to the east. The Company will continue to work to expand this near surface envelope.”

Figure 1: Plan Map of the Eastern Gold Zone that encompasses Denise and HGZ.

Figure 2: Longitudinal section of the Denise Zone looking South, with today’s results labelled in green.

Table 1: Assay Results from the Denise Zone at Perron

*Note that drill results are presented uncapped and lengths represent core lengths. True width is estimated to be ~70-80% in Denise.

Qualified Person

Maxime Bouchard P.Geo. M.Sc.A., (OGQ 1752) and Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), Independent Qualified Persons as defined by Canadian NI 43-101 standards, have reviewed and approved the geological information reported in this news release. The drilling campaign and the quality control program have been planned and supervised by Maxime Bouchard and Jérôme Augustin.. The quality assurance and quality control protocol include insertion of blank or standard every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard samples accredited by Laboratoire Expertduring the analytical process. Gold values are estimated by fire assay with finish by atomic absorption and 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. Core logging and sampling were completed by Laurentia Exploration.

About Amex

Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold projects in the mining-friendly jurisdiction of Quebec. Amex is focused on its 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 117 contiguous claims covering 4,518 hectares. A number of significant gold discoveries have been made at Perron, including the Eastern Gold Zone, the Gratien Gold Zone, the Grey Cat Zone, and the Central Polymetallic Zone. High-grade gold has been identified in each of the zones. A significant portion of the project remains underexplored. In addition to the Perron project, the company holds a portfolio of three other properties focused on gold and base metals in the Abitibi region of Quebec and elsewhere in the province.