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Amex Exploration Inc.: 2017-18 Winter Drill Final Results at Perron: New West Side Gold Showing

MONTREAL, April 25, 2018 (GLOBE NEWSWIRE) -- Amex Exploration Inc. (TSXV:AMX) (“Amex” or the “Corporation”) is pleased to announce the final results from its winter 2017-2018 drilling program consisting of the  last three holes, over a total of 13 completed in March 2018, and testing three different targets located in the western part of the area of interest (see Figure 1).

Figure 1: Perron 2017/2018 Winter Exploration Drilling Program:

The highlight of the results reported today is yet another newly discovered gold bearing structure now described as the 'West Side Gold Showing' in hole PE-2018-11, where gold values of up to 3.32 g/t Au over 1.5 meters within a wider zone of 18.5 meters grading 0.51 g/t Au were intersected (see Table 1). Holes PE-2018-12 and 13, were drilled on two different targets, and returned no significant values.

Table 1: Results of hole PE-2018-11

HoelFrom ToLength (m)Au (g/t)
PE-2018-11 incl172.5175.53.01.73
PE-2018-11 incl190.5193.53.01.27
PE-2018-11 incl207.0208.01.03.32

Interval intersected along the hole, undetermined true thickness.

Hole PE-2018-11was planned in order to evaluate the potential extension of various gold mineralized intersections that were historically drilled by Coleraine Resources (now Amex) between 1999 and 2009. Significant gold intervals were reported from four different holes located in the immediate area of this hole PE-2018-11, namely holes PE1999-S54, PE2000-S57, PE2000-S58, PE2008S02 and PE2009-S08, with high grade values of up to 14.71 g/t Au over 1.0 meter (see Table 2).

Table 2: Historic holes of the West Side Gold Showing.

HoleFrom ToLength (m)Au (g/t)
PE1999-S54 incl65.
PE1999-S54 incl72.
PE1999-S54 incl75.
PE2008-S02 incl26.

Interval intersected along the hole, undetermined true thickness.

It is important to note that the high grade gold intersects from holes PE1999-S54 and PE2008-S02, i.e 11.71 g/t Au over 1.0 meter and 14.71 g/t Au over 1.0 meter are respectively within a larger interval of 21.0 meters grading 2.48 g/t Au and 9.0 meters grading 2.36 g/t Au. Both are localized very near the surface with respective depths of about 60 meters and 25 meters. Together with hole PE-2018-11, these historical intersects can be now included in a continuous zone that can be followed over a minimum strike length of about 150 meters from near surface to a minimum vertical depth of 200 meters and is potentially open in all directions (see figures 2 and 3).

Figure 2:

Figure 3:

The next step is to integrate these drilling results into a 3D model in order to prepare a new follow up drilling program that will be focussed not only on this new 'West Side Gold Showing' but also in the 'Discovery Hole Gold-rich Polymetallic Area' (see PR-2018-04-04) and on the recently identified and promising 'Eastern Gold Zone' (see PR-2018-03-02).

Jacques Trottier, PhD, Executive Chairman of Amex said, “This drill program can be considered as a real success in all respects and these results are certainly beyond my expectations. We identified two new very promising gold-bearing structures, namely the Eastern Gold Zone and now this new West Side Gold Showing and confirmed the potential of gold-rich polymetallic zones in the area of the 'Discovery Hole'. A follow-up drill program will soon be prepared with the support of 3D modelling that will better define the geometric and genetic relationship of this successful last phase of drilling. I am very anxious to start the next phase of work that will be implemented as soon as possible once the new drilling program is established.”

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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