Amex Adds 4th Drill Rig to Perron

Amex Exploration Inc. (“Amex or the Company”) (TSXV:AMX, FRA:MX0, OTCQX:AMXEF) is very pleased to announce that it has added a 4th drill rig to its 100% owned Perron gold property located Northwestern Quebec. This rig will be dedicated to exploration drilling on the Eastern Gold Zone (EGZ), given the Company’s recent successful extension of the High Grade Zone (HGZ) at the EGZ. On February 13, 2020, Amex reported a composite interval of 29.44 g/t Au over 8.50 metres at a vertical depth of 570 metres in Hole PE-20-137. Using its predictive modelling techniques, the Amex geological team was able to successfully target the projected eastward and depth extension of the HGZ with thick and high-grade vein intercepts. Amex’s predictive modelling uses state-of-the-art 3D modelling software, structural interpretation, geophysical surveys and exploration drilling to date as well as the combined knowledge of the geological team responsible for multiple economic mineral discoveries and producing mines.

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, “Given the tenure, the width and the overall strengthening of the gold mineralization at depth at the EGZ we felt it was prudent to add another drill rig to rapidly follow up on these deep holes that are critical to building gold ounces at Perron. In addition, drilling is going very well at Grey Cat and Gratien Gold Zones and we have dedicated one rig to these two targets, as they are in close proximity to each other and the drilling there is relatively shallow. Finally, one rig is dedicated to regional exploration targets which, based on our predictive modelling, bare similar structural and geophysical signatures as the known gold zones at Perron. We have the team to handle the workload of the extra rig and our new core shack has ample room to process the additional drill core generated by a fourth rig.”

In addition, Amex wishes to announce its participation at the Prospectors Developers Association of Canada (PDAC) 2020 Convention at both the Investors Exchange and the Core Shack in the South Building of the Metro Toronto Convention Centre.

Investors Exchange from March 1 to 4, 2020

Booth # 2716

Core Shack from March 3 to 4, 2020

Booth #3103B

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.

The Qualified Persons have not completed sufficient work to verify the historic information on the Property, particularly in regards to the historical drill results. However, the Qualified Persons believe that drilling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the Property but may not be representative of expected results.

About Amex

Amex Exploration Inc. is a junior mining exploration company, the primary objective of which is to acquire, explore, and develop viable gold and base metal projects in the mining-friendly jurisdictions of Quebec and Ontario. Amex is focused on its 100% owned Perron gold project located 110 kilometers north of Rouyn Noranda, Quebec, consisting of 116 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 Ontario.

For further information please contact:

Victor Cantore

President and Chief Executive Officer

Amex Exploration: 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 LGZ, 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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