Amex Exploration Inc. is providing an update on its operations with respect to the COVID 19 pandemic.
Amex Exploration Inc. (“Amex or the Company”) (TSXV:AMX, FRA:MX0, OTCQX:AMXEF) announces changes to its planned Annual and Special Meeting of Shareholders and is providing an update on its operations with respect to the COVID 19 pandemic. In complying with government guidelines, the Annual and Special Meeting of Shareholders scheduled to take place on April 7, 2020, has been moved to May 4, 2020 at 10:30 am (the “Meeting”). The Meeting will either take place at the offices of Amex located at 410 St Nicholas, suite 236, Montreal, Quebec in person or by virtual means, as will be appropriate at such time to ensure the health and safety of all participants. The record date of March 3, 2020, remains unchanged and all information contained in the meeting materials sent to shareholders on March 17, 2020 remains valid, except for the proxy cut-off date which will be extended to April 30, 2020 at 10:30 a.m. and the change of the meeting date to May 4, 2020.
In addition, pursuant to the mandated direction from the Government of Quebec regarding precautionary and preventative methods for COVID-19 pandemic, Amex is temporarily suspending, until April 13th or as mandated by the Government of Quebec, its fully funded drill program on the Perron Property. The temporary suspension of drilling coincides with the traditional spring break-up period at Perron. Amex’ geologists and management are working from home offices and the Company is using this time for data compilation, modelling and drill planning. Amex is well positioned with relatively low overhead costs and $9.7M in cash and cash equivalents.
Dr. Jacques Trottier, Executive Chairman of Amex Exploration said, “Our priority is the health and safety of everyone at our site especially during this difficult time and we are strictly following the new Quebec Government regulations. We have had several very active months of successful drilling on all three gold zones at Perron. Given our proximity to infrastructure and access to dry competent ground, the drills will remain on-site in position and so restarting the drill campaign will be very quick.”
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:
President and Chief Executive Officer
Amex Exploration: 514-866-8209
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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.