AMEX Exploration

Amex Exploration Inc. is focused on building high grade gold ounces at its 100 % owned Perron Gold Project located ~110 kilometres north of Rouyn-Noranda, Quebec, consisting of 117 contiguous claims covering 4,560 hectares. Attracted with the high-grade nature and quality of the Perron project, Edorado Gold has become a strategic 9.9% investor in Amex.

The project is well-serviced by existing infrastructure, on a year-round road, 10 minutes from an airport and just outside the town of Normétal (~8 km). In addition, the project is in close proximity to a number of major gold producers’ milling operations.

Amex announced a Preliminary Economic Assesment on the Perron Project:

• Pre-Tax IRR 59.5% and NPV C$948 M at US$2,000/oz Au
• Average Annual production of 124,000 oz Au, for years 1 to 5 over a 10-year LOM
• Cumulative Undiscounted Pre-Tax Cash Flow of C$1,333 M
• LOM All-in sustaining cash costs ("AISC") of US$807/oz Au
• Initial Capital Expenditure ("Capex") of $229 million

Amex announced a Mineral Resource Estimate (MRE) on the project:

Open pit and underground stope constrained 594,100 of measured and indicated ounces at 4.28 g/t Au and 1,049,650 of inferred ounces at 3.80 g/t Au.

The MRE shows excellent continuity throughout the project with exceptional high grade throughout, specifically in the High-Grade Zone (HGZ) which alone hosts 336,170 of measured and indicated ounces at 12.05 g/t Au and 415,470 of inferred ounces at 10.49 g/t Au.