Amex Gold Mining Advances Bulk Sample Construction

Amex Exploration Inc. (TSXV: AMX) provided a construction update on its 40,000‑tonne underground bulk‑sample program at the Perron Gold Project in Quebec. Infrastructure pads are complete or near‑complete, and temporary offices and site services are currently being installed. The water treatment plant has arrived on site, with installation underway and commissioning expected in the coming weeks.

A portal contractor was selected through a competitive tender, and contract negotiations are underway. Portal construction is scheduled to begin the week of July 6, 2026, while the underground mining contractor is planned to mobilize in late July 2026. Permanent Hydro‑Québec grid connection work continues, with the connection anticipated in late 2026 or early 2027. The bulk sample will mine approximately 40,000 tonnes from the Champagne Zone to collect technical, operational, and economic data for future project decisions.

Amex Exploration Inc. (AMX) released a routine update confirming that site preparations and contracting for its bulk-sample program are proceeding on schedule. The announcement follows a well-telegraphed plan, noting that all key milestones, including permits, the Phase 1 Feasibility Study, and financing, had already been achieved.

The release disclosed no new financial, technical, or permitting information, nor were there any revisions to timelines, capital costs, or operational expectations. The market had previously priced in the bulk-sample program following the C$80 million financing, the positive Phase 1 Feasibility Study, and the receipt of permit approvals.

Amex Exploration’s stock has traded in a range of roughly $4.00–$4.50, reflecting a gradual pullback from its post-feasibility high of $5.32. This trading activity suggests that execution-type news has not served as a strong catalyst for the shares.

Amex Exploration Inc. (AMX) is a gold exploration and development company listed on the TSXV, OTC (AMXEF), and Frankfurt (MXO) exchanges. The company’s 100%-owned Perron Gold Project is located in the Abitibi greenstone belt, approximately 110 km north of Rouyn-Noranda, Quebec, covering a 65.75 km² core claims area. The consolidated land package, which includes the Perron West and other Ontario properties, now totals approximately 570 km².

The project hosts the high-grade Champagne Zone and several other gold and VMS zones. A Phase 1 Feasibility Study, filed on May 28, 2026, outlined Proven & Probable reserves of 1.989 Mt at 12.1 g/t Au for approximately 774,500 oz. The study projected an average annual production of 147,000 oz Au over five years via toll milling. Initial CAPEX was estimated at C$193.9 M, net of pre-production revenue, with a post-tax IRR of 114.6% and an NPV₅ of C$1.13 B based on a base gold price of US$3,500/oz. Payback is projected at 0.5 years.

A 40,000-tonne underground bulk sample is currently underway to de-risk the mining plan and provide material for processing tests prior to full-scale Phase 1 production.