Amex Drilling Expands Denise Zone by Additional 450 M to the East - Denise Zone Now Traced over ~1 Km of Strike and Remains Open

Highlights from the Denise Zone include:

Western Denise

• 65.00 m of 1.89 g/t Au, including 0.50 m of 197.35 g/t Au at a vertical depth of ~345-390 m in hole PE-21-422;
• 58.50 m of 1.82 g/t Au, including 0.50 m of 177.65 g/t Au, at a vertical depth of ~350-400 m in hole PE-21-392;
• 166.50 m of 0.59 g/t Au, including 30.30 m of 1.16 g/t Au and 6.00 m of 5.16 g/t Au at a vertical depth of ~170-280 m in hole PE-21-411;
• 16.00 m of 5.77 g/t Au, including 1.50 m of 59.97g/t Au at a vertical depth of ~200 m in hole PE-21-432;
• 66.60 m of 1.28 g/t Au, including 1.50 m of 34.22 g/t Au at a vertical depth of ~430-480 m in hole PE-21-415

Eastern Denise

• 41.30 m of 0.88 g/t Au, including 14.90 m of 1.50 g/t Au at a vertical depth of ~230 m in hole PE-22-468;
• 19.10 m of 0.83 g/t Au, including 0.50 m of 19.64 g/t Au at a vertical depth of ~105 m in hole PE-22-480;

Montreal, April 11, 2022 - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce a total of 27 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. See Figure 1 for a plan view of the geology of the EGZ and the mineralized zones.

Today's drill results demonstrate that Denise can now be traced over ~950 m from the Western mafic intrusion to the most Eastern intercept to date in the Denise structure. The Company intends to continue to drill to the East to further expand the Denise Zone along strike. In addition, Amex will continue definition drilling on Western Denise particularly at the depth where there appears to be a higher grade trend developing. A complete list of results is available in Table 1 and presented in Figure 2.

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "I am very encouraged by the results from the Eastern Denise Zone as they clearly show the structure continues near surface and along strike as we predicted and is now a confirmed kilometric sized system. We have numerous additional holes pending and planned to better define this area along strike and to depth. In addition, our infill drilling on Western Denise has begun indicating multiple higher grade ore shoots within the larger Denise mineralized envelope. We have also defined the Western Denise down to 750 metres. The Denise Zone is wide open along strike and to depth and has the potential to be a very sizeable structure and potential open pit target."

Trottier continued, "One of the best features of our Perron project is that we have both bulk tonnage style and exceptionally high-grade vein-hosted gold zones on the Project. This provides us with optionality from a mining perspective. The close proximity of the Denise Zone to the High Grade Zone makes it a very important target for Amex. We look forward to the receipt of additional results as we work towards building out the property-wide resource."

Figure 1: Plan view of the geology of the Eastern Gold Zone comprised of the High Grade Zone and the Denise Zone

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2667/119996_25d24f4b04174ae6_002full.jpg

Figure 2: Longitudinal section of the Denise Zone, with today's released hole locations in green and/or labelled on the longitudinal. Note that drillholes 163-15-021 and 163-15-018 on the easternmost portion of this longitudinal were drilled by a previous operator and have not been fully sampled. The Company intends to evaluate the core to determine if additional sampling of these holes is necessary. Assay results are presented in core length (m). True width is approximately 70-80% of reported intercepts. Metal factor is defined as gold grade multiplied by core length.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2667/119996_25d24f4b04174ae6_003full.jpg

Table 1: Assay results from Denise Zone

*Historical drill holes

Qualified Person
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.

About Amex
Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold projects in the mining-friendly jurisdiction of Quebec. Amex is focused on its 100% owned Perron gold project located 110 kilometres north of Rouyn Noranda, Quebec, consisting of 117 contiguous claims covering 4,518 hectares. A number of significant gold discoveries have been made at Perron, including the Eastern Gold Zone, the Gratien Gold Zone, the Grey Cat Zone, and the Central Polymetallic Zone. High-grade gold has been identified in each of the zones. A significant portion of the project remains underexplored. In addition to the Perron project, the company holds a portfolio of three other properties focused on gold and base metals in the Abitibi region of Quebec and elsewhere in the province.

For further information please contact:
Victor Cantore
President and Chief Executive Officer
Amex Exploration: +1-514-866-8209

Neither the 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.

Forward-looking statements
This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the planned exploration program on the HGZ and Denise Zone, the expected positive exploration results, the extension of the mineralized zones, the timing of the exploration results, the ability of the Company to continue with the exploration program, the availability of the required funds to continue with the exploration and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "to earn", "to have', "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.

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