AMEX Exploration (TSXV:AMX)- Resource Boost Sets Stage for Near-Term Production. New PEA Imminent

Interview with Victor Cantore, President & CEO of Amex Exploration Inc.

Our previous interview: https://www.cruxinvestor.com/posts/amex-exploration-tsxvamx-quebec-gold-developer-evaluates-pfs-option-for-16moz-perron-project-6683

Recording date: 28th May 2025

AMEX Exploration Inc. (TSXV:AMX) has delivered a transformational resource upgrade that positions the company for rapid advancement to gold production in Quebec's prolific Abitibi Greenstone Belt. The updated mineral resource estimate reveals 1.615 million ounces in measured and indicated categories at 6.14 g/t, representing a remarkable 172% increase over the 2024 estimate with a 43% grade improvement.

The flagship Champagne Zone forms the production core with 831,000 ounces at an exceptional 16.20 g/t, supported by an additional 128,000 inferred ounces at 9.83 g/t. This high-grade foundation enables CEO Victor Cantore's strategic pivot toward cash flow generation while maintaining exploration activities across 197 square kilometers of prospective land.

AMEX's production strategy leverages unique advantages that distinguish it from typical development projects. Located near the historic mining town of Normétal, the project benefits from existing infrastructure, skilled workforce, and multiple toll milling options throughout the region. The underground mining approach requires minimal surface infrastructure, accelerating permitting timelines compared to open-pit operations.

Management has outlined an aggressive two-year timeline to production, beginning with an updated preliminary economic assessment within 60 days, followed by a feasibility study focused on toll milling operations. This phased approach generates early cash flows while advancing full mine development, supporting Cantore's anti-dilutive growth model that minimizes shareholder dilution through operational cash flow rather than repeated equity raises.

Strategic validation comes through Eldorado Gold's 9.9% ownership, providing technical expertise from their similar high-grade Lamaque operation. The partnership strengthens AMEX's transition from exploration to production while maintaining management independence.

With total resources of 2.313 million ounces and exceptional grades enabling economic toll milling across wide geographic areas, AMEX exemplifies the industry trend toward high-grade, capital-efficient operations that maximize returns per ounce while building sustainable long-term cash flows.

View AMEX Exploration's company profile: https://www.cruxinvestor.com/companies/amex-exploration

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