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    AMX   CA03114B1022

AMEX EXPLORATION INC.

(AMX)
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Amex Exploration : Drills Copper Rich VMS Mineralization in First Follow-Up Drillhole on the Qf Zone, Intersects 1.93% Copper, 0.15% Zinc, 0.28 gt Gold and 14.0 gt Silver over 8.00 M

09/21/2021 | 11:08am EDT

Montreal - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ('Amex or the Company') is pleased to announce the results of its first follow-up drillhole on the copper rich volcanogenic massive sulphide ('VMS') QF zone.

Dr. Jacques Trottier, Executive Chairman of Amex, commented, 'I am very pleased to have essentially replicated the widths and strong grades of the discovery hole with a vertical step down by 65 metres. This successful follow-up drill hole confirms that this mineralization could be of significant size and we are enthusiastically looking forward to the results of this follow up drilling phase. We have since drilled additional holes targeting the on-strike and vertical extensions of this mineralization. The similarity in grade of the QF Zone holes announced to date to the past-producing 10.1 million tonne Normetal Mine is especially encouraging. On the backs of the successes to date on this zone, Amex has allocated an additional 5,000 metres of drilling to further test this copper-rich sulfide zone.'

In 2021, Amex conducted a small exploration program focused on the Normetal Mine Sequence, which is present over more than 4.5 km long within the Perron property. The QF Zone represents one of several similar targets that occur along the Normetal Mine Sequence on the Perron project.

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.

Contact:

Victor Cantore

Tel: +1-514-866-8209

Forward-looking statements

This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the planned exploration program on the HGZ and Denise Zone, the expected positive exploration results, the extension of the mineralized zones, the timing of the exploration results, the ability of the Company to continue with the exploration program, the availability of the required funds to continue with the exploration and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words 'will', 'should', 'continue', 'expect', 'anticipate', 'estimate', 'believe', 'intend', 'to earn', 'to have', 'plan' or 'project' or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2020 - - -
Net income 2020 -1,81 M -1,46 M -1,46 M
Net cash 2020 31,8 M 25,8 M 25,8 M
P/E ratio 2020 -2 501x
Yield 2020 -
Capitalization 241 M 195 M 195 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float 80,0%
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Technical analysis trends AMEX EXPLORATION INC.
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Mean consensus BUY
Number of Analysts 3
Last Close Price 44,93 MXN
Average target price 64,05 MXN
Spread / Average Target 42,6%
Managers and Directors
Victor Cantore President, Chief Executive Officer & Director
Patrick Mpoyi Musampa Chief Financial Officer
Jacques Trottier Executive Chairman
Pierre Carrier Chief Operating Officer & Director
AndrÚ Shareck Independent Director
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