First Hole in Amex 2019 Drill Program Returns 393.33 g/t Au Over 1.70 m at Perron Eastern Gold Zone

MONTREAL, Jan. 23, 2019 - Amex Exploration Inc. (“Amex or the Company”) (AMX: TSX-V; FRA: MX0) is very pleased to announce that it has launched its 2019 diamond drill program on the Perron property Eastern Gold Zone (EGZ) and reports 393.33 g/t Au over 1.70 m in hole PE2019-22 (see Table 1) at a vertical depth of 170 m (see Fig. 1, 2 and 3). This hole was planned to test the high-grade vein interval in hole PE2018-17 that returned 269.2 g/t Au over 1.35 m (see PR2018-12-13B) at a vertical distance of 25 m above it, starting from the same collar location. The Perron property is located approximately 110 kilometers North of the town of Rouyn-Noranda in the Abitibi region of Quebec and is accessible year-round by road and is serviced by excellent infrastructure.

Table 1: 2019 Winter Follow-up Drilling results on the EGZ from Hole PE2019-22

Interval intersected along the hole, undetermined true thickness.
*VG: Visible Gold or Coarse gold grains

Additionally, the low-grade zone results from hole PE2019-22 are still pending. Results above only report intersections with visible gold or coarse gold grains. Hole PE2019-23 drilled at about 25 meters vertically above hole PE2019-22 (see Fig. 3) intersected the same quartz vein and visible gold grains has been identified. Results are also pending.

Jacques Trottier PhD, Chairman of Amex Exploration commented, “The 2019 drill program is off to an exciting start with the excellent high-grade results from hole PE2019-22 that is at a vertical depth of about 170 metres from surface, which is quite shallow. Our current drilling suggests the EGZ is holding together very well, with high-grade gold mineralization being reported as the zone comes to surface. It looks very consistent in terms of grade and width. I believe 2019 will be a very outstanding year for Amex and its shareholders.”

With the very positive 2018 drill results on the EGZ (see table 2), Amex launched, on January 7, 2019, a program of 12 high priority drill holes totalling ~3,000 meters aimed at testing the lateral and shallow extensions of the high-grade zone (see Fig. 1 and 3). In addition, the program is designed to test the continuity between the mineralized intersections of previous drill holes that intersected the EGZ (i.e. infill drilling). The planned intersection spacing should enable Amex to establish an initial estimate of a potential resource calculation on the Perron EGZ.

Following the 2018 program the EGZ can now be followed from surface (from intersect in hole PE97s-35) down to a minimum vertical depth of 375 meters (from intersect in hole PE2017-03) on a minimum of strike length of at least 300 meters and still open in at depth and to the East.

Trottier continued, “The 2018 drill program added another 100 metres of strike length to the EGZ. The goal of the 2019 program is to basically target the high-grade zone of the EGZ and trace it closer to surface. We will also drill the low-grade zone of the EGZ as a second priority to establish its continuity to surface and East.”

To view Figure 1, please visit the following link: http://www.globenewswire.com/NewsRoom/AttachmentNg/1c918732-09a9-4d5c-aa79-9d8d78713116

To view Figure 2, please visit the following link: http://www.globenewswire.com/NewsRoom/AttachmentNg/99a99ef6-ca57-4f08-b958-da57fde94c3a

To view Figure 3, please visit the following link: http://www.globenewswire.com/NewsRoom/AttachmentNg/e41bc65d-fff4-4e97-8e83-8ea0f9d3dba9

2018 Drill Program

As a reminder, the 2018 drill program consisted of 18 diamond drill holes (DDH) totalling 6,171 meters designed primarily to test the lateral and depth extensions of the known EGZ which consist if a wide low-grade zone and a high-grade zone which appears to run parallel to each other.

To conclude this first follow up drilling phase on the EGZ that ended on December 22nd 2018, a total of 7 holes were drilled totaling 2,386 meters (PE2018-15 to PE2018-21). As a point of reference, 4 holes were drilled to the West of hole PE2018-17 (holes PE2018-15 PE2018-16, PE2018-18 and PE2018-21) and 2 to the East of the same hole (PE2018-19 and PE2018-20).

With the exception of hole PE2018-21, located to the Western limit of the EGZ, ALL of the holes intersected the second, wide low-grade zone of the EGZ over now a strike length of at least 300 meters, and still open at depth and to the East. In addition, the high-grade zone of the EGZ has also now being identified in three holes covering a vertical extent length of at least 100 meters. (see Fig. 2)

Table 2: 2018 Winter Follow-up Drilling results on the EGZ from Hole PE2018-15 to PE2018-21.

Interval intersected along the hole, undetermined true thickness.
*VG: Visible Gold or Coarse gold grains

Maxime Bouchard M.Sc.A, Geologist of Laurentia Exploration, a Qualified Person as defined by Canadian NI 43-101, reviewed and approved the geological information of the current drilling reported in this news release. The drilling campaign and the quality control program has been planned and supervised by Maxime Bouchard and Amex’s management. The QAQC include insertion of blank or standard every 10 samples on average. The gold values are estimated by Fire Assay with finish by atomic absorption and value over 3 ppm Au are re-analysed by fire Assay with finish by gravimetry by Laboratoire Expert Inc, Rouyn-Noranda. For additional quality assurance and quality control, all samples were crushed to 90% less than 2mm and samples with visible gold were analyse by metallic sieve. Core Logging and sampling was realized by Maxime Bouchard and Alizée Lienard M.Sc.A, Trainee Geologist of Laurentia Exploration.

About Amex
Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to develop and bring into production viable gold and base metals deposits in mining-friendly jurisdictions. Amex has multiple highly prospective projects: the 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 116 adjacent claims covering 4518 hectares; the 100% owned Eastmain River gold properties consisting of 135 claims covering 7,102 hectares and the 100% owned Cameron project located in Lebel-sur-Quévillon, Quebec, comprising 263 claims covering 14,743 hectares. In addition, Amex has an option agreement to acquire a 100% interest in the Gowan Property located near the Kidd Creek Mine.

For further information please contact:
Victor Cantore
President and Chief Executive Officer
Amex Exploration: 514-866-8209

Forward-looking statements:

Except for statements of historical facts, all statements in this news release regarding, without limitation, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release