Amex Exploration Inc. ('Amex or the Company') (TSXV: AMX) (FRA:MX0)(OTCQX:AMXEF) Amex is pleased to provide a review of the 2020 year.
The Company began the year with three drills on the Perron project and ended 2020 with ten drills turning on the property. Approximately 120,000 m of drilling has been completed on the Perron project with about another 180,000 m to be completed on Perron in 2021. The drill program to date has focused on expanding the three main gold zones on the Perron project starting with the Gratien Gold Zone and the Grey Cat Gold Zone to the West and the Eastern Gold Zone to the East. Drilling has demonstrated that the property hosts at 3.2 km long Perron Gold Corridor. Regional exploration is currently under way on the 45 km2 property which host more than 15 km of major structural faults (Perron and Normetal Faults) which has seen very little drilling outside the Perron Gold Corridor. The Company is planning a significant 15,000 m regional exploration program for 2021 with a goal to identify additional gold zones at Perron. The Company began the year with three drills on the Perron project and ended 2020 with ten drills turning on the property. Approximately 120,000 m of drilling has been completed on the Perron project with about another 180,000 m to be completed on Perron in 2021. The drill program to date has focused on expanding the three main gold zones on the Perron project starting with the Gratien Gold Zone and the Grey Cat Gold Zone to the West and the Eastern Gold Zone to the East. Drilling has demonstrated that the property hosts at 3.2 km long Perron Gold Corridor. Regional exploration is currently under way on the 45 km2 property which host more than 15 km of major structural faults (Perron and Normetal Faults) which has seen very little drilling outside the Perron Gold Corridor. The Company is planning a significant 15,000 m regional exploration program for 2021 with a goal to identify additional gold zones at Perron.
Eastern Gold Zone
During the 2020 year, Amex expanded the EGZ down to a vertical depth of 1.1 km with Hole PE-20-187 intersecting 3.85 metres of 25.04 g/t Au. Essentially, during 2020, Amex doubled the vertical extension of the HGZ. Interpretation of the HGZ now suggests that gold mineralization has been traced over 350 metres along strike, from near surface to over 1.1 km vertically and averages approximately 7 metres of width (core length). The recent deep drilling on the HGZ is continually strengthening to depth. Of particular interest is that the highest grade core of the system, is more than double the vertical distance at depth in comparison to the near-surface portion of the HGZ. Drilling in 2021 on the HGZ will focus on definition drilling down to the 1.0 km level for a resource calculation starting at the end of 2021 as well as continued step out drilling to expand the strike length of the system at depth.
Corporate Update
Amex recognizes the value of diversity in deliberation and took a number of steps to strengthen its Board by welcoming two new Board members in 2020, Mr. Bryan Coates and Ms. Anik Gendron. Both Bryan and Anik have played an active role on the Amex Board offering strategic insight to the management team over the past year. From a financial perspective, Amex has never been stronger, ending the year with approximately $32 million in available cash, making the Company fully funded for its exploration program for 2021. During 2020 Amex also added cornerstone investor along side Mr. Eric Sprott, who increased his position and participated in each financing. Various well respected institutions from Canada, United States, Europe and the United Kingdom all participated in the 2020 financings. The shareholder profile of Amex shifted from primarily retail investors to institutional holders in 2020. Accordingly, the stock reflected the achievements of the Amex team and delivered a very strong performance and outperformed its peers.
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 116 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 else where in the province.
Contact:
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 forwardlooking 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.
AMEX EXPLORATION INC. 
