New Risk • Jun 04
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 31% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (31% increase in shares outstanding). Revenue is less than US$1m. Announcement • May 30
Amex Exploration Files Feasibility Phase 1 Technical Report for the Perron Gold Mine Amex Exploration Inc. had filed on SEDAR+ the independent National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI43-101") technical report supporting the results of the Phase 1 Feasibility Study ("FS") for its wholly-owned Perron Gold Project located in the Abitibi region of Québec, Canada. The technical report, entitled "NI 43-101 Technical Report and Feasibility Study for the Perron Mine, Québec, Canada", has an effective date of March 31, 2026 and was prepared in accordance with NI 43-101 by independent consultants from P&E Mining Consultants Inc., Laurentia Exploration Inc., Evomine Consulting Inc., A2GC LP, Hydro-Ressources Inc., Soutex Inc. and Norda Stelo Inc. Highlights of the Phase 1 Feasibility Study include: Proven and Probable Mineral Reserves of 1.989 million tonnes grading 12.1 g/t gold, containing approximately 774,500 ounces of gold; Average annual gold production of approximately 147,000 ounces over a five-year mine life; Post-tax Net Present Value (5%) of CAD 1,130 million; Post-tax Internal Rate of Return of 114.6%; Initial capital cost of CAD 193.9 million, gross of CAD 68.1 million in pre-production revenue; Payback period of approximately 0.5 years from commencement of commercial production; Life-of-mine all-in sustaining cost ("AISC") of USD 910 per ounce of gold. The Phase 1 development strategy contemplates underground mining at a rate of 1,100 tonnes per day and processing through existing permitted milling capacity in the Abitibi region under a toll milling arrangement. This approach significantly reduces initial capital requirements while accelerating the path toward production and cash flow generation. The full Report entitled "NI 43-101 Technical Report and Feasibility Study for the Perron Mine, Québec, Canada" can be found on SEDAR+. Scientific and technical information presented in this news release was reviewed and approved by Alexandre Burelle, P. Eng., an independent "Qualified Person" as defined in National Instrument 43-101- Standards of Disclosure for Mineral Projects (the "Qualified Person"). The Company has included certain non-IFRS financial measures in this news release, such as initial capital cost, sustaining capex, and AISC, which are not measures recognized under IFRS and do not have a standardized meaning prescribed by IFRS. As a result, these measures may not be comparable to similar measures reported by other corporations. Each of these measures used are intended to provide additional information to the user and should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS. Non-IFRS financial measures used in this news release and common to the gold mining industry are defined below. AISC is reflective of all of the expenditures that are required to produce an ounce of gold from operations. AISC reported in the FS includes total cash costs, sustaining capital, closure costs and salvage, but excludes corporate general and administrative costs. AISC per ounce is calculated as AISC dividend by payable gold ounces. Announcement • May 06
Amex Exploration Inc. announced that it expects to receive CAD 43.4745 million in funding Amex Exploration Inc. announced a best efforts private placement to issue 9,661,000 common shares at a price of CAD 4.50 per Common Share for aggregate gross proceeds of up to CAD 43,474,500 on May 5, 2026. The Agents have also been granted an option, exercisable in full or in part up to 48 hours prior to the Closing Date, to sell up to an additional 1,449,150 Common Shares at the Offering Price for additional gross proceeds of up to CAD 6,521,175. The Offering is expected to close on or about May 21, 2026. Completion of the Offering is subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. In connection with the Offering, the Company will pay to the Agents a cash commission equal to 5% of the gross proceeds of the Offering. The company anticipates that Eldorado Gold Corporation will exercise its participation right to purchase common shares at the offering price, and Victor Cantore, President and CEO of the company also intends to participate in the Offering for an amount representing up to his pro rata interest in the Company. 
