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Amex Exploration Inc.: New Gold-Rich Polymetallic Drill Results With Grades Up to 6.72 g/t Au, 24.2 g/t Ag and 0.30% Zn Over 1.5 Meters at Perron

MONTREAL, April 04, 2018 (GLOBE NEWSWIRE) -- Amex Exploration Inc. (TSX-V:AMX) (“Amex” or the “Corporation”) is very pleased to report new gold-rich polymetallic drill intersections from its winter 2017-2018 drilling program at Perron in each of the three drill holes located in the 'Discovery Hole' polymetallic area with values of up to 6.72 g/t Au, 24.2 g/t Ag and 0.30% Zn over 1.5 meters (see Table 1).

Table 1: 2017-18 Winter Drilling results from the Discovery Hole Polymetallic Area

Hole From To Length (m) Au (g/t) Ag (g/t) Cu (%) Zn (%)
PE2018-07 131.1 133.5 2.4 3.43 8.88 0.13 0.09
PE2018-07 incl 131.1 132.6 1.5 4.49 9.7 0.11 0.11
PE2018-07 171.85 173.0 1.15 2.43 6.8   0.17
PE2018-07 193.5 198.0 4.5 1.84 9.8   0.30
PE2018-07 incl 195.0 196.5 1.5 4.48 5.3   0.13
               
PE2018-08 247.5 252.0 4.5 2.06 7.20 0.07 0.11
PE2018-08 incl 247.5 249.0 1.5 4.56 14.2 0.14 0.16
               
PE2018-10 112.5 114.0 1.5 3.10      
PE2018-10 196.0 197.5 1.5 1.59 5.6   1,55
PE2018-10 253.5 261.0 7.5 0.72 18.7    
PE2018-10 incl 258.0 261.0 3.0 1.43 23.9   0.27
PE2018-10 282.0 283.5 1.5 6.72 24.2   0.30

Interval intersected along the hole, undetermined true thickness.  

These three new drill holes (i.e. PE-2018-07, -08, -10; see Fig.1) were planned as priority targets from the 3D modelling created in conjunction with Innovexplo (see PR2017-10-24) as follow up drilling to the so called 'Discovery Hole' drilled by Amex in 2013 (Hole PE-2013-03) that returned gold-rich polymetallic values of 3.84 g/t Au, 23.0 g/t Ag, 1.4% Zn and 0.10% Cu over 15.2 meters, including a high grade intersection of 19.07 g/t Au, 102.0 g/t Ag, 5.0% Zn and 0.38% Cu (see PR2013-03-19).

Figure 1 Perron 2017/2018 Exploration Drilling ProgramJunior Mining Network

The next step is to integrate these drilling results into the 3D modelling to better understand the geometric and genetic relationship of these new intersections in order to prepare a new follow up drilling program that will be focussed not only on the recently identified 'Eastern Gold Zone' (see PR2018-03-02) but also in this very promising 'Discovery Hole Gold-rich Polymetallic Area'.

It is important to note that these are two different mineralised areas and they are located in two different parts of the Perron property, geologically and geographically speaking. There is a distance of about 1.0 Km between these two mineralized areas where relatively only limited drilling has been done in the past. During this 2017-2018 phase of drilling, Amex tested the one kilometer of strike between the two mineralized areas and drilled three broadly spaced holes (PE-2017-02, -04 and PE-2018-06) to evaluate the potential of this 'in between' ground. Drilling focussed on reactivated syn-volcanic faults and the contact zone between the Beaupré Rhyolite (acting as host and footwall rock of both type of mineralization) and the overlying andesite unit (with some sediments and iron formations that constitute the hanging wall unit also of both mineralization types).

These three holes intersected gold mineralized intervals with values up to 9.60 g/t Au over 1.5 meters in hole PE-2018-06 and two wide intersections of low grade values, one grading 0.62 g/t Au over 9.0 meters, also in hole PE-2018-06, and the other one grading 0.78 g/t Au over 18.0 meters in hole PE-2017-04 (see table 2). The interpretation and understanding of these results are yet to be determined.

Table 2: Gold Intersections Between The Eastern Gold Zone and The Discovery Hole Polymetallic Area

Hole From To Length (m) Au (g/t)
PE2017-02 231.0 233.5 2.5 0.64
         
PE2017-04 246.0 264.0 18.0 0.78
PE2017-04 incl 247.5 249.0 1.5 2.59
PE2017-04 incl 259.5 262.5 3.0 2.12
PE2017-04 incl 304.5 306.0 1.5 2.03
         
PE2018-06 102 111.0 9.0 0.62
PE2018-06 incl 105 106.5 1.5 2.33
PE2018-06 277.5 279.0 1.5 9.6

Interval intersected along the hole, undetermined true thickness.

Jacques Trottier, PhD, Executive Chairman of Amex said, “Even though we haven't totally completed the analysis from this last winter’s 2017-2018 drilling campaign, the results are very impressive and even better than expected. We can already say that this phase of drilling is a complete success and we achieved our main objectives to evaluate the gold-rich polymetallic potential of the immediate area of the 2013 'Discovery Hole' and to potentially identifying new gold bearing structures. I am very encouraged with the identification of the new 'Eastern Gold Zone' announced a few weeks ago and now further confirmation of gold-rich polymetallic zones as described today. I am also very pleased with the results from the drilling between the Eastern Gold Zone and the Gold-rich Polymetallic Area. There is about one kilometer of strike length between these two areas and intersecting gold mineralization in all three widely spaced holes is quite exiting and opens new ground for further exploration work. Clearly, follow up drilling is necessary. I am also personally very proud of the work done by the exploration team that has been involved in the planning and execution of the winter drill program. Our focussed work on Perron has already begun to yield tangible results and I believe we have only scratched the surface of the true potential of this great promising property."

UPDATE ON CURRENT DRILLING

We have also received the results from hole PE-2017-05 (that was actually the deepening of hole PE-2013-04) that was drilled to test a geophysical target and now explained by the presence of finely laminated iron formations with no significant values and PE-2018-09 drilled to the western limit of the Discovery Hole Gold-rich Polymetallic Area with no significant values.

Drilling has been terminated on March 6th with hole PE-2018-13 for a total of 4537 meters. The 2017-2018 program was planned for 4360 meters with 14 targets; we have added one target and reported drilling on target I and K (refer to PR2017-10-24). As of today, results from holes PE-2018-11, 12 and 13 are still under processing and review, and will be communicated when available.

Kelly Malcolm, P.Geo., a Qualified Person as defined by Canadian NI 43-101, revised and approved the geological information of the current drilling reported in this news release. The drilling campaign and the quality control program has been planned and supervised by Nabil Tarbouche and Amex’s management. The QAQC protocol includes insertion of blanks, standards or duplicates every 10 samples on average. The gold values are determined by Fire Assay (AU-ICP-21) at ALS Minerals, Val d’Or. All samples were submitted to ALS Minerals for gold, base metals and major and trace element geochemistry. Core Logging and sampling was completed by Lisa Côté, Trainee Geologist of Explo-Logik under supervision of Nabil Tarbouche.

About Amex
Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to develop and bring into production viable gold and base metals deposits in mining-friendly jurisdictions. Amex has multiple highly prospective projects: the 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 116 adjacent claims covering 4518 hectares; the 100% owned Eastmain River gold properties consisting of 135 claims covering 7,102 hectares and the 100% owned Lebel-sur-Quévillon project in Quebec, comprising 263 claims covering 14,743 hectares. In addition, Amex has an option agreement to acquire a 100% interest in the Gowan Property located near the Kidd Creek Mine. 

For further information please contact:
Victor Cantore
President and Chief Executive Officer
Amex Exploration: 514-866-8209

Forward-looking statements:

Except for statements of historical facts, all statements in this news release regarding, without limitation, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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