Amex Aims to Build Gold Ounces at Perron with up to 100,000m of New Drilling Planned
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On November 3, 2025, Amex Exploration announced its drilling plans for the remainder of 2025 and an extensive exploration program for 2026. The company plans to drill up to 100,000 meters in 2026 across its flagship Perron Project in Quebec and the newly acquired Perron West Project in Ontario. For the rest of 2025, a 10,000-meter drill program will focus on expanding the Eastern Gold Zone (EGZ), which contains the bulk of the current resource at Perron. The VP of Exploration, Aaron Stone, stated the goal is to build on existing high-value ounces and make new discoveries on the expanded land package, which is believed to be underexplored for gold.
This announcement is material and positive. It follows a series of significant de-risking milestones and demonstrates a clear, aggressive, and well-funded strategy to create further shareholder value.
- Context is Key: This news comes after the company published a highly positive updated Preliminary Economic Assessment (PEA) in September 2025, commenced a Feasibility Study for Phase 1 production, and secured C$37.25 million in a financing that included a major strategic investment from Eldorado Gold in August 2025.
- Execution of Strategy: The planned 100,000-meter drill program is a direct execution of the company's stated dual-track strategy: advancing Perron toward production while simultaneously exploring for new discoveries. The financing was explicitly raised for this purpose, and this announcement confirms the capital is being put to work.
- Scale and Scope: A 100,000-meter program is substantial for a junior explorer and signals strong confidence from management in the geological potential of its properties. The program is intelligently split between near-mine resource expansion (lower risk, high impact on the mine plan) and blue-sky exploration on new targets (higher risk, potential for new discoveries).
- Investor Confidence: For investors, this provides a clear roadmap of news flow and catalysts for the coming year. Aggressive, funded exploration is the primary value driver for a company at this stage. It reinforces the thesis that Perron is not just a development asset but part of a potentially larger, district-scale gold system.
While the announcement is a plan and not a result, the scale of the fully-funded program is a significant positive development that reinforces the company's strong position and clear path forward.
Amex Exploration Inc. is a junior gold exploration company focused on its 100%-owned Perron Gold Project in the Abitibi Greenstone Belt of Quebec, a top-tier mining jurisdiction. The project hosts a significant high-grade gold resource of 1.615 million ounces Measured & Indicated at 6.14 g/t Au and 698,000 ounces Inferred at 4.31 g/t Au (May 2025 MRE).
The company is advancing Perron towards production via a staged development plan outlined in its September 2025 PEA. Phase 1 envisions a low-CAPEX, rapid-payback operation using contract mining and third-party toll-milling of high-grade ore, with cash flow intended to fund a larger Phase 2 on-site processing facility. The company recently expanded its land holdings four-fold with the acquisition of the adjacent Perron West property, providing significant exploration upside.