Amex Receives Ontario Drill Permit and Outlines 15,000 m Inaugural Perron West Drill Program

The most recent news (March 25, 2026) announces that Amex has received the necessary drill permits to begin its inaugural 15,000-meter drill program at the Perron West project in Ontario. This follows a series of strategic land acquisitions and an exploration agreement with the Apitipi Anicinapek Nation. The program targets the northwestern extension of the Normétal Fault, applying geological models successful at the flagship Perron project in Quebec. Additionally, the company recently ordered a water treatment plant and initiated an Environmental Impact Assessment (EIA) for Phase 1 of the Perron Project.

The news is Routine - Positive. While the commencement of a 15,000m program is a significant operational milestone, it is the logical and expected follow-up to the acquisition of the Ontario claims and the exploration agreement signed earlier in the month. - Operational De-risking: Receiving the permit removes a regulatory hurdle for the 2026 exploration season. - Strategic Continuity: The 15,000m program is part of a larger 100,000m corporate-wide drilling goal for 2026, which was already communicated to the market in late 2025. - Development Progress: The simultaneous advancement of the Perron Project (Quebec) via water treatment orders and EIA initiation shows management is successfully executing a "dual-track" strategy of exploration and development.

Amex Exploration is focused on the Perron Gold Project in the Abitibi Greenstone Belt, Quebec. - Resource: 1.615 Moz Au (M&I) at 6.14 g/t and 0.698 Moz Au (Inferred) at 4.31 g/t. - Strategy: A two-phase development. Phase 1 (Years 1-4) focuses on high-grade toll-milling (102k oz/year) to generate cash flow for Phase 2 (Years 5-17), which involves building an on-site mill. - Infrastructure: Exceptional access with year-round roads, power, and proximity to the town of Normétal.