Amex to acquire Abbotsford, Hepburn projects

Executive Summary

• Amex Exploration Inc. entered into an asset purchase agreement to acquire the Abbotsford and Hepburn projects, expanding its landholdings in the Abitibi greenstone belt from ~200 km² to over 500 km².
• The transaction includes a cash payment of $150,000, issuance of 600,000 common shares (subject to escrow release over 36 months), and a 0.5% gross overriding royalty on the acquired properties.
• Additional milestone payments of $1 M and $500 k are payable upon achievement of specified resource or study milestones, and existing 1.5% NSR royalties will be assumed by Amex.

Key Details

• Acquired Projects
• Abbotsford project: 242 claims covering 6,253.47 ha.
• Hepburn project: 82 claims covering 2,139.45 ha.
• Claim Staking Additions
• 890 claims (18,753.17 ha) for continuation of Abbotsford.
• 141 claims (2,990.16 ha) for continuation of Hepburn.
• Total Land Package Post‑Transaction
• Increases from 19,972 ha (199.72 km²) to 50,108 ha (501.08 km²), giving Amex control of ~70 km of strike length on the Abitibi belt and extending into the Normetal‑Burntbush belt.
• Transaction Consideration
• Cash: $150,000 payable at closing.
• Equity: 600,000 common shares issued to vendor; shares subject to staggered release from escrow over 36 months.
• Royalty: 0.5% gross overriding royalty on both projects (to be documented in a GOR agreement).
• Milestone Payments
• $1 M cash payable upon disclosure of a mineral resource/reserve totaling ≥1 Moz gold or gold‑equivalent.
• $500,000 cash payable upon disclosure of a PEA, prefeasibility, or feasibility study (NI 43‑101 definitions).
• Assumed Royalties
• Existing 1.5% net smelter return royalty in favour of Gravel Ridge Resources Ltd. and 1544230 Ontario Inc. will be assumed; total on‑closing royalties become 1.5% NSR + 0.5% GOR.
• Closing Conditions
• Execution of royalty agreement, delivery of deeds/conveyances, TSX V approval, and standard closing conditions for mining transactions.
• Qualified Persons
• Aaron Stone, P.Geo (OGQ 2170, PGO 3708) – Ontario properties.
• Jerome Augustin, P.Geo, PhD (OGQ 2134) – Perron project, Quebec.

Notable Quotes

“With these acquisitions, we have constructed a truly district‑scale land package, which is controlled by one company, rarely seen in the Abitibi region.” – Victor Cantore, President & CEO, Amex Exploration

The information contained herein includes forward‑looking statements and safe‑harbor disclosures.