44.80 usd to cad

Amex Reports 8.25 g/t Gold over 44.80 Metres and 1.22 g/t Gold over 64.75 Metres from the Denise Zone of Perron

Highlights from the Denise Zone include:

  • 8.25 g/t Au over 44.80 m, including 602.00 g/t Au over 0.50 m, at a vertical depth of ~230 m in hole PE-21-337;
  • 1.22 g/t Au over 64.75 m, including 10.96 g/t Au over 3.55 m, at a vertical depth of ~200 m in hole PE-21-305;
  • 2.38 g/t Au over 6.50 m at a vertical depth of 260 m in hole PE-21-291;
  • 1.36 g/t Au over 10.50 m at a vertical depth of 335 m in hole PE-21-311;
  • 1.55 g/t Au over 8.50 m at a vertical depth of 230 m in hole PE-21-285;
  • 1.41 g/t Au over 9.00 m at a vertical depth of 340 m in hole PE-21-382;
  • 2.01 g/t Au over 6.50 m at a vertical depth of 290 m in hole PE-21-369;
  • 2.65 g/t Au over 9.90 m at a vertical depth of 40 m in hole PE-21-368;
  • 1.50 g/t Au over 19.70 m at a vertical depth of ~30 m in hole PE-21-364; and
  • 0.76 g/t Au over 37.55 m at a vertical depth of ~100 m in hole PE-21-374.

Amex Exploration Inc. (TSXV: AMX) (FRA: MX0) (OTCQX: AMXEF) ("Amex or the Company") is pleased to announce a total of 36 drill holes focused on expansion and 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 results are focused on near surface and on-strike expansion as well as definition drilling of the Denise Zone as the Company works towards its maiden resource on the Perron Project. A complete list of results is available in Table 1 and presented in Figure 2. In addition to the results detailed below, Amex is awaiting results on over 9,500 samples at three labs from holes targeting the HGZ, Denise, QF Zone, and Grey Cat Zone, as well as regional exploration drilling.

Jacques Trottier, PhD, Executive Chairman of Amex Exploration commented, "We are very pleased to see Denise growing as this Zone has the potential to add meaningful near surface ounces to the overall gold resource at Perron. Today's results indicate that Denise is a system that exhibits both low-grade bulk tonnage and higher-grade vein type tendencies. This will provide optionality for future potential mining scenarios."

Trottier continued, "One of the major near-term goals of our coming winter drilling season is to test the expansion potential of Denise to the East along strike for at least a kilometre. Last year in July we reported in holes PE-21-262, 270, 273, and 277, all of which expand the Denise Zone eastward and even to the east of a cross-cutting late diabase dyke. There has been very little drilling to the east, as shown in Figure 1, due to better access in winter and permitting requirements. Having already intercepted gold along this trend we view this as a top priority for the coming drilling."

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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/2667/102915_2c290b5994a7dafe_002full.jpg

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Figure 2: Longitudinal section of the Denise Zone, with today's released hole locations in green and/or labelled on the longitudinal. 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:
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Table 1: Assay results from the Denise Zone at Perron

Denise Zone Results
Hole IDFrom (m)To (m)Length (m)Au (g/t)ZoneVertical depth (m)
PE-21-337255.20300.0044.808.25Denise Zone~230 and 270
Including255.20255.700.50602.00
And339.70340.200.5034.29
PE-21-305199.85264.6064.751.22Denise Zone~200 and 270
Including205.00208.553.5510.96
And356.50357.000.5041.75
PE-21-291327.00333.506.502.38Denise Zone~260
Including333.00333.500.5025.87
PE-21-322274.50277.503.002.38Denise Zone~230 and 260
And305.70319.5013.801.12
Including310.30311.301.006.82
PE-21-311373.55377.353.801.93Denise Zone~320 and 335
And405.00415.5010.501.36
Including415.00415.500.5022.08
PE-21-285269.50274.004.501.51Denise Zone~200 and 230
Including269.50270.000.5011.76
And321.00329.508.501.55
PE-21-354208.40238.0529.650.54Denise Zone~150 and 180
Including222.00226.204.202.88
PE-21-382309.00312.003.006.23Denise Zone~260 and 340
And412.50421.509.001.41
PE-21-381345.00348.003.003.89Denise Zone~280
PE-21-369195.00199.504.501.38 Denise Zone~160 and 290
And230.10230.600.5031.87
And343.10349.606.502.01
PE-21-36866.7076.609.902.65Denise Zone~40 and 180
And226.90227.400.5025.47
PE-21-36433.0052.7019.701.50Near Surface Denise Zone~30
Including52.2052.700.5044.11
PE-21-374101.45139.0037.550.76Near Surface Denise Zone~100
Including105.00109.504.502.66
PE-21-27957.0057.500.500.80Near Surface Denise Zone~40
PE-21-278150.40150.900.501.12Near Surface Denise Zone~100
PE-21-36381.5084.002.500.88Near Surface Denise Zone~60
PE-21-35883.0085.502.501.87Near Surface Denise Zone~60
PE-21-303148.55149.450.900.98Near Surface Denise Zone~100
PE-21-298108.50115.507.000.38Near Surface Denise Zone~70
PE-21-30473.5080.607.100.71Near Surface Denise Zone~50
PE-21-35570.5080.8510.350.30Near Surface Denise Zone~50 and 90
And106.50109.503.000.48
And119.05128.809.750.31
PE-21-35147.5048.501.001.39Near Surface Denise Zone~35
PE-21-308151.00151.500.501.41Near Surface Denise Zone~100 and 130
And169.50172.052.550.65
And193.50194.551.050.63
PE-21-312140.75142.001.250.52Near Surface Denise Zone~100
PE-21-31478.0081.003.001.23Near Surface Denise Zone~50
PE-21-252130.95133.852.900.78Near Surface Denise Zone~90
PE-21-25431.5033.001.501.57Near Surface Denise Zone~20
PE-21-31791.2094.703.502.67Near Surface Denise Zone~65
PE-21-32052.5056.003.501.17Near Surface Denise Zone~30
PE-21-32535.0035.800.802.20Near Surface Denise Zone~20
PE-21-32721.0022.501.500.88Near Surface Denise Zone~15
PE-21-33051.5054.853.351.80Near Surface Denise Zone~40
PE-21-33225.0025.500.5011.86Near Surface Denise Zone~15
PE-21-33531.0034.003.001.36Near Surface Denise Zone~20 and 50
And69.0073.004.000.45
PE-21-33926.7531.004.250.47Near Surface Denise Zone~50
And67.5068.050.5513.74
PE-21-34156.5057.000.505.21Near Surface Denise Zone~60
And85.5087.001.503.77

 

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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B2Gold is also pleased to announce that it has published its 2024 Climate Strategy Update. The Climate Strategy Update presents stakeholders with information on how B2Gold manages its climate-related risks and impacts and is the Company's fourth annual report in line with the recommendations of the Task Force on Climate-related Financial Disclosures.

To view or download a copy of the Responsible Mining Report and Climate Strategy Update, and all other documents referred to in this press release, please visit www.b2gold.com/sustainability/esg-reporting-portal

In announcing the release of the Report and the Climate Strategy Update, Clive Johnson, President & CEO of B2Gold, states "As I reflect on the achievements and challenges of the past year, I am particularly proud of the dedication of our people, who continue to drive B2Gold forward. We have successfully navigated dynamic capital markets, regulatory changes, and evolving ESG expectations while maintaining our high standards of responsible mining. Together, we strive to continue to create long-term value for all of our stakeholders, while upholding the level of operational excellence, environmental stewardship, and social responsibility that define B2Gold."

Highlights from the 2024 "Raising the Bar" Responsible Mining Report

Economic Contribution

As a responsible gold miner, B2Gold aims to create and distribute economic value among its stakeholders. B2Gold's economic performance is measured by the economic value that it generates for others, including payments to governments through taxes and royalties, local hiring and procurement and investment in communities. In 2024, B2Gold:

  • Achieved total consolidated gold production of 804,778 ounces (including 19,644 ounces of attributable production from Calibre Mining Corp.);

  • Generated $1.9 billion in annual revenue;

  • Paid $283 million in employee wages and benefits;

  • Invested $12.8 million in its local communities 1 ; and

  • Paid $564 million to governments (through taxes and royalties).

B2Gold is committed to maximizing local and national economic benefits from its contracting and purchasing. The Company is conscious of the high priority that host communities and governments place on local procurement. In sourcing the goods and services necessary to run its operations, B2Gold gives preference to local businesses where possible, provided they meet minimum safety, quality, ethical, and cost requirements. In 2024, over $600 million of goods and services were procured from local and host-country businesses. Several 2024 success stories are outlined in the Report.

People

As a reputable corporate citizen, B2Gold generates national employment and opportunities for people to develop their careers, trains employees to acquire new skills, and opens doors to women, under-represented groups and previously disadvantaged people. The Company fosters positive and productive engagement with employees, provides safe workplaces, and believes that investing in people attracts and retains talented individuals and assists in their abilities to provide for themselves, their families and their futures.

At the end of 2024, B2Gold employed 6,478 2 people across all operations. The Company continues to maintain high local employment rates by targeting recruitment efforts at regional and national levels. Across all operations, 97% of the total workforce, and 58% of Senior Management 3 were comprised of national 4 employees.

B2Gold values a diverse workforce. In recent years, the Company has made significant strides in advancing its Equity, Diversity and Inclusion initiatives. In 2021, the adoption of a Diversity Policy by the Company's Board established a target of 30% female representation on the Board and in management-level positions, underscoring its commitment to promoting and achieving gender diversity at all levels of the organization. B2Gold is pleased to report that as of the end of 2024, 40% of Company directors identify as gender diverse.

Health and Safety

As a result of B2Gold's focus on injury prevention, the Company is once again pleased to report that for the ninth consecutive year, it has maintained a zero-fatality workplace. Additionally, B2Gold's injury rates remain amongst the lowest in the mining industry, with a Lost Time Injury Frequency Rate of 0.05 5 in 2024. These achievements underscore the Company's position as a leader in safety performance within the industry.

Communities

B2Gold maintains its social licence to operate by building trust-based relationships, actively engaging with stakeholders, and implementing community investment activities based on local ownership and development priorities. Highlights of the 2024 community investment programs include:

  • At the Fekola Complex, the 70-hectare Goungoubato Agricultural Project is supporting over 250 households affected by resettlement, directly addressing food insecurity whilst fostering small- and medium-sized enterprise growth through newly formed farmers' associations. Additionally, B2Gold continued its partnership with Global Affairs Canada and its support of the FEMA Project, which aims to improve conditions for women and children living in artisanal mining communities within the Fekola Mine's area of influence. The FEMA Project was initiated in March 2022 and will continue until 2027.

  • At the Masbate Gold Project, investment continued to focus on education, access to health services and facilities, and programs that enhance local economic opportunities, including skills training and small enterprise support. The Training for Employment Program reached its fifth year of partnership in 2024 and remains a powerful driver of economic mobility by equipping individuals with the skills and training needed to build sustainable livelihoods. Over the lifetime of the project, 1,521 individuals have received training and over 600 participants have secured employment.

  • At the Otjikoto Mine, B2Gold Namibia achieved significant milestones that reflect the Company's commitment to meeting critical needs, supporting long-term development, and fostering resilience beyond the life of the mine. Notable achievements include the completion of the Ombili Clinic, which will improve access to healthcare in the region, and the Otavi Water Project, which enhances water security through the construction of a tower and water distribution system.

  • At the Back River Gold District, B2Gold Nunavut continues to strengthen its close relationships with the Kitikmeot Inuit Association and communities across Canada's Arctic. The Company is investing in collaborative projects throughout the Kitikmeot region that promote community wellness, support youth through sports, recreation, and education, and advance initiatives focused on women and Elders. A standout initiative is the Inuit Workplace Experience Program, delivered in partnership with the Redfish Arts Society, which provides Kitikmeot Inuit youth with hands-on training in welding and fabrication—equipping them with valuable skills for employment in Nunavut's growing mineral development sector. B2Gold Nunavut remains committed to working alongside the Kitikmeot Inuit Association to advance further initiatives that ensure the benefits of the Back River Gold District reach the communities of Cambridge Bay, Kugluktuk, Gjoa Haven, Taloyoak, and Kugaaruk.

Environment

B2Gold's remains firmly committed to reducing greenhouse gas ("GHG") emissions, with a target to reduce Scope 1 and 2 emissions by 30% by 2030 against a 2021 baseline. The completion of the Fekola solar plant expansion in early 2025 underscores this commitment by advancing the decarbonization of operations through innovative and sustainable energy solutions. The expanded Fekola facility is expected to supply approximately 30% of the site's electricity demand and reduce annual emissions by an estimated 63,000 tonnes of carbon dioxide equivalent (CO 2 e).

Approach to Reporting

B2Gold is committed to the transparency of its sustainability risks, management and performance. The Report is aligned with the Global Reporting Initiative Sustainability Reporting Standards and the Sustainability Accounting Standards Board Mining and Metals Sustainability Accounting Standard . The Company firmly believes that the mining industry has an opportunity to contribute positively to the United Nations Sustainable Development Goals and it has reported its contribution in this regard since 2018.

Highlights from the 2024 Climate Strategy Update

2024 Highlights

  • B2Gold is committed to a GHG emissions reduction target of a 30% reduction in Scope 1 and 2 emissions by 2030 against a 2021 baseline.

  • The Company continued evaluation of financial impacts of key climate risks identified at sites during previous climate scenario analysis workshops.

  • The total Scope 1 and 2 GHG emissions (for the Fekola, Masbate and Otjikoto operations) remained relatively stable in 2024, with a slight decrease to an estimated 699 thousand tonnes CO 2 e compared to 701 thousand tonnes in 2023. The Company's consolidated GHG emissions intensity was 0.89 tonnes CO 2 e per gold ounce produced in 2024 (compared with 0.71 in 2023), a modest increase driven in part by a reduction in total gold production.

  • The proportion of electricity consumed at B2Gold operations from renewable sources was 21.7% in 2024. At Otjikoto, the proportion of electricity consumed from renewable sources was over 70%.

Looking Forward – 2025 and Beyond

In 2025, B2Gold looks forward to strengthening its global partnerships and deepening its commitment to the diverse communities in which it operates. The Company will continue investing in initiatives that expand vocational training and promote job creation, improve access to education, and enhance healthcare services. B2Gold believes that by building local capacity and fostering strong alignment among governments, communities, stakeholders, and the Company, it can help create resilient, healthy, and prosperous communities throughout the mining lifecycle.

As part of its climate strategy, B2Gold will continue to advance renewable energy initiatives across its operations, supporting its target to reduce Scope 1 and 2 GHG emissions by 30% by 2030 against a 2021 baseline. At the Masbate Gold Project, an 8.2-megawatt ("MW") solar plant is scheduled for installation in 2025, which will further reduce emissions and heavy fuel oil ("HFO") consumption. In Nunavut, following regulatory approvals received in 2024, B2Gold is finalizing project plans and environmental commitments for the proposed Back River Energy Centre—a renewable energy facility that could include up to thirteen wind turbines, solar panels, and battery storage, with the potential to deliver more than 55 MW of clean energy. This facility is expected to significantly reduce reliance on HFO, as well as the number of fuel barges and fuel truck trips along the winter ice road.

Beyond increasing the share of renewable energy in its operations, B2Gold is actively assessing a range of additional carbon reduction opportunities, including energy efficiency improvements, the use of alternative fuels, and optimization of materials movement. The Company remains committed to innovation by working closely with industry-leading partners and staying prepared to adopt emerging technologies that align with its decarbonization goals.

About B2Gold

B2Gold is a responsible international senior gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Mali, Namibia and the Philippines, the Goose Project under construction in northern Canada and numerous development and exploration projects in various countries including Mali, Colombia and Finland.

ON BEHALF OF B2Gold Corp.

"Clive T. Johnson"
President and Chief Executive Officer

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