Amex obtains permits, Perron bulk sample set to start

Executive Summary

• Amex Exploration Inc. has secured key governmental permits and completed the mandatory financial guarantee for its 40,000-tonne underground bulk sampling program at the Perron gold project in Quebec.
• The company is advancing critical path activities, including ordering long-lead equipment, launching tenders for portal construction and mining contracts, and expanding its operational team ahead of April 2026 field preparations.
• Recent grade control drilling has returned high-grade gold intercepts that validate the resource block model and de-risk the upcoming bulk sampling phase, with a Phase 1 feasibility study (tolling scenario) expected imminently.

Key Details

• Permits Secured: Ministerial authorization from the Ministère de l'Environnement, de la Lutte contre les Changements Climatiques, de la Faune et des Parcs (MELCCFP) and Authorization for Impact Work (ATI) from the Ministère des Ressources naturelles et des Forêts (MRNF).
• Financial Guarantee: Completed upfront payment required under Quebec's Mining Act to secure site rehabilitation and restoration funds.
• Bulk Sampling Program: 40,000-tonne underground program; field preparatory work begins April 2026, with portal construction targeted for early summer 2026. Infrastructure will support Phase 1 production.
• Procurement & Infrastructure: Ordered long-lead items including a water treatment plant and electrical components for a dedicated Hydro-Quebec power line connecting the site to the grid.
• Tenders & Contracting: Major tenders launched for portal construction and mining contract; bids expected shortly to enable rapid contractor mobilization.
• Hiring: Extensive recruitment underway to fill key operational positions aligned with the project timeline.
• Feasibility Study: Phase 1 feasibility study contemplating a toll milling scenario is scheduled for release in the coming weeks.
• Grade Control Drill Results (Published Feb 18 & Feb 26, 2026):
• Hole PE-19-47W1: 76.51 g/t Au and 7.57 g/t Ag over 6.40 m, including 312.60 g/t Au and 25.85 g/t Ag over 1.55 m at ~200 m vertical depth.
• Hole PE-26-894: 110.05 g/t Au and 7.20 g/t Ag over 2.15 m, including 233.96 g/t Au and 14.90 g/t Ag over 1.00 m at ~145 m vertical depth.
• Hole PE-21-371W1: 52.36 g/t Au and 8.90 g/t Ag over 0.5 m at ~130 m vertical depth.
• Technical Validation: Grade control results support the existing resource block model, reducing execution risk for the bulk sampling program.

Notable Quotes

• Victor Cantore, President & CEO: "Securing these authorizations is a decisive milestone that propels the Perron project into its next phase of execution. Our pro-active preparation -- through early procurement and tenders -- positions us to move efficiently toward bulk sampling, confirming the project's potential and enhancing long-term value for shareholders and communities alike."