Amex Exploration TSXV:AMX Stock Report

Amex Reports Copper-Rich VMS Intercepts with Values of Up to 2.86% CuEq over 6.40 m Including 4.81% CuEq over 1.60 m from QF Zone

Amex Exploration Inc. Announces Assay Results from A Number of Drill Holes Focused on Expansion Drilling of the High Grade Zone Part of the Eastern Gold Zone, of the Perron Project

Amex Exploration Inc. announced assay results from a number of drill holes focused on expansion drilling of the High Grade Zone ("HGZ"), part of the Eastern Gold Zone ("EGZ"), of the Perron Project. Today's drill results demonstrate that the HGZ is expanding along strike, outside of the main high grade central ore shoot. As part of its resource definition program, Amex has been focused on expansion of known zones of mineralization through much of the 2022 drilling program. These results from the HGZ expansion are definitively adding significant tonnage and potential ounces to the overall ore zone. Of particular interest are the results from holes PE-22-511W2 & PE-22-511W3, which returned very high assay values in an area that low grade mineralization was expected. This is highly encouraging for exploration as it shows that high grade lenses exist outside of the main mineralizedzone. Maxime Bouchard P.Geo. M.Sc.A., (OGQ 1752) and Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), Independent Qualified Persons as defined by Canadian NI 43-101 standards, have reviewed and approved the geological information reported in this news release. The drilling campaign and the quality control program have been planned and supervised by Maxime Bouchard and Jérôme Augustin. The quality assurance and quality control protocol include insertion of blank or standard every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard samples accredited by Laboratoire Expert during the analytical process. Gold values are estimated by fire assay with finish by atomic absorption and values over 3 ppm Au are reanalyzed by fire assay with finish by gravimetry by Laboratoire Expert Inc, Rouyn-Noranda. Samples containing visible gold mineralization are analyzed by metallic sieve. For additional quality assurance and quality control, all samples were crushed to 90% less than 2 mm prior to pulverization, in order to homogenize samples which may contain coarse gold. Core logging and sampling were completed by Laurentia Exploration.

President exercised options to buy CA$1.0m worth of stock.

On the 12th of May, Victor Cantore exercised options to buy 401k shares at a strike price of around CA$0.26, costing a total of CA$104k. This transaction amounted to 9.5% of their direct individual holding at the time of the trade. Since June 2021, Victor's direct individual holding has increased from 4.01m shares to 4.21m. Company insiders have collectively bought CA$1.8m more than they sold, via options and on-market transactions, in the last 12 months.

Insider recently sold CA$104k worth of stock

On the 9th of May, Eric Sprott sold around 40k shares on-market at roughly CA$2.61 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months.

Amex Exploration Inc. Reports 30.90M of 11.57G/T Au from Eastern Denise Expansion Zone and 10.10M of 3.71G/T Au from the E2 Gold Zone

Amex Exploration Inc. announce a total of 9 drill holes focused on near surface and on-strike expansion as well as definition drilling of the Denise Zone ("Denise"), part of the Eastern Gold Zone ("EGZ"), of the Perron Project. In addition, the Company is also pleased to report 11 drills holes from the newly discovered E2 Gold Zone ("E2"). In addition, Amex would like to remind shareholders of its Annual General Meeting and corporate update which is scheduled for May 10, 2022 at 10:00 AM Eastern time and will be made available via webcast in consideration of current Covid 19 Government guidelines. The drill results demonstrate that tenure and grade of the eastern area of Denise is starting to replicate the western Denise Zone which has been well defined with diamond drilling. These results indicate the potential for higher grade shoots forming within the eastern Denise, similar to what has been defined in the western Denise. The E2 Gold Zone has now been expanded down to a vertical depth of 370 m and along strike for 325 m. Maxime Bouchard P.Geo. M.Sc.A., (OGQ 1752) and Jérôme Augustin P.Geo. Ph.D., (OGQ 2134), Independent Qualified Persons as defined by Canadian NI 43-101 standards, have reviewed and approved the geological information reported in this news release. The drilling campaign and the quality control program have been planned and supervised by Maxime Bouchard and Jérôme Augustin. The quality assurance and quality control protocol include insertion of blank or standard every 10 samples on average, in addition to the regular insertion of blank, duplicate, and standard samples accredited by Laboratoire Expert during the analytical process. Gold values are estimated by fire assay with finish by atomic absorption and values over 3 ppm Au are reanalyzed by fire assay with finish by gravimetry by Laboratoire Expert Inc, Rouyn-Noranda. Samples containing visible gold mineralization are analyzed by metallic sieve. For additional quality assurance and quality control, all samples were crushed to 90% less than 2 mm prior to pulverization, in order to homogenize samples which may contain coarse gold. Core logging and sampling were completed by Laurentia Exploration.