Amex Exploration Inc. · TSXV:AMX
Amex Exploration — Investor Presentation (May 2025)
40 slides from Amex Exploration's investor presentation, May 2025
Slide 1: Corporate Presentation: Making the Grade: High Grade Gold Discoveries in Quebec
TSXV: AMX CORPORATE PRESENTATION MAKING THE GRADE: HIGH GRADE GOLD DISCOVERIES IN QUEBEC MAY 2025 TSXV: AMX | FSE: MX0 | OTCQX: AMXEF amexexploration.com
Slide 2: Cautionary Statements: Forward Looking Statement
CAUTIONARY STATEMENTS FORWARD LOOKING STATEMENT The purpose of this presentation is to provide general corporate information about Amex’s activities current as of April 11, 2025. The information is given in summary form and does not intend to be complete; readers are urged to review the Company’s fu
Slide 3: Qualified Persons and Third-Party Data
QUALITY ASSURANCE & QUALITY CONTROL QUALIFIED PERSONS AND THIRD-PARTY DATA QUALIFIED PERSON PEA QUALIFIED PERSONS The technical information in this presentation has been reviewed and approved by Aaron Stone, P. Geo. (OGQ 2170 and PGO 3708) for the Perron The qualified persons independent of the issu
Slide 4: Why Amex Exploration?
TSXV: AMX WHY AMEX EXPLORATION? TSXV: AMX | FSE: MX0 | OTCQX: AMXEF amexexploration.com
Slide 5: A Leader in the Junior Mining Sector
A LEADER IN THE JUNIOR MINING SECTOR COMMITMENT TO EXPLORATION EXCELLENCE SUSTAINABLE PRACTICES, AND STRATEGIC GROWTH Strong financial position ensures continued Exceptionally high-grade underground WELL FUNDED exploration and development, drilling fully HIGH GRADE gold zone @ average grade of 12.05
Slide 6: Capital Structure & Market Performance
STRONG MARKET PRESENCE CAPITAL STRUCTURE & ANALYST COMMITMENT MARKET PERFOMANCE COVERAGE TO ESG Jeremy Hoy Philip Ker ECOLOGO is the first comprehensive certification for mineral Pierre Vaillancourt exploration companies and Shares issued 122,412,936 their service providers that features third-party
Slide 7: Shareholder Support: Strategic Placement
WELL FUNDED SHAREHOLDER SUPPORT STRATEGIC PLACEMENT ERIC SPROTT 12% ELDORADO 9.9% Strategic Investment by Eldorado Gold (for approximately a 9.9% ownership interest) MANAGEMENT 7% Eldorado brings considerable expertise as a high-grade, low-cost gold producer in the Abitibi CAISSE DE DÉPÔT 2% TSXV: A
Slide 8: Led by Seasoned Management Team & Technical Experts
STRONG TRACK RECORD OF GOLD DISCOVERIES LED BY SEASONED MANAGEMENT TEAM & TECHNICAL EXPERTS Victor Cantore Jacques Trottier President and CEO, Director Executive Chairman of the Board • Decades of experience in mineral exploration, Pierre Carrier Luisa Moreno corporate finance, and capital markets.
Slide 9: One of the World's Most Prolific Gold-Producing Regions
IN THE HEART OF THE ABITIBI GREENSTONE BELT ONE OF THE WORLD'S MOST PROLIFIC GOLD- PRODUCING REGIONS • During its operation, the Normétal mine produced 10 Mt at 2.25% copper, 5.4% zinc, 0.5 g/t Au and 44.5 g/t Ag • Perron project in close proximity to major gold producers' milling operations TSXV: A
Slide 10: Prime Location in Canada
PERRON & PERRON WEST PROJECTS PRIME LOCATION IN CANADA Perron & Perron West Projects • 100% owned projects in Ontario and Quebec • Mining friendly jurisdictions • Core-shack 20 minutes from airport • Just outside the town of Normétal (~8 km) • ~110 km north of Rouyn-Noranda, Quebec • Well-serviced b
Slide 11: Robust Infrastructure
NORMÉTAL OVERVIEW ROBUST INFRASTRUCTURE • Fully road accessible year-round by government- maintained highway and forestry roads • Proximal to power and water services TSXV: AMX | FSE: MX0 | OTCQX: AMXEF amexexploration.com 11
Slide 12: Combined Perron Property
DISTRICT SCALE LAND PACKAGE COMBINED PERRON PROPERTY Perron Project and newly acquired Perron West Project* • Significant land acquisition, expanding AMEX holdings around the Perron Project from 45.60 km2 to 197.52 km2 • AMEX now controls over 35 km of the prolific Normétal Fault and 9 km of the Per
Slide 13: Perron Property
MULTIPLE GOLD AND VMS DISCOVERIES PERRON PROPERTY • 117 contiguous claims covering 45.60 km2 • A number of significant gold zones and VMS discoveries have been made at Perron that stretch over a 4 km strike • Hosts the potential for bulk-tonnage open pit and high-grade gold underground mining. TSXV:
Slide 14: Perron West Property
PERRON WEST PROPERTY SIGNIFICANT POTENTIAL FOR FUTURE DISCOVERIES • Recently acquired 151.92 km2 • Boasts seven gold and five copper showings including gold results from historical sonic drilling: – 6.79 g/t Au, 4.79 g/t Au, 1.86 g/t Au, 1.75 g/t Au, 1.68 g/t Au • Significant potential for future di
Slide 15: Potential Mirror Image of Beaupré Block
PERRON WEST PROPERTY POTENTIAL MIRROR IMAGE OF BEAUPRÉ BLOCK • Continuation of the Normétal-Burntbush greenstone belt, that crosses over into Ontario • Bears a number of geological similarities to the existing Perron Project • Potential mirror image of the prolific Beaupré Block rhyolite, which host
Slide 16: Perron Project: Mineral Resource Estimate, Preliminary Economic Assessment
TSXV: AMX PERRON PROJECT MINERAL RESOURCE ESTIMATE PRELIMINARY ECONOMIC ASSESSMENT TSXV: AMX | FSE: MX0 | OTCQX: AMXEF amexexploration.com
Slide 17: Perron Mineral Resource Estimate 2024
EXCEPTIONAL RESULTS PERRON MINERAL RESOURCE ESTIMATE 2024 Open Pit Constrained COG 0.42 g/t Au UG Stope Constrained COG 1.29 g/t Au Total PERRON PROJECT Tonnes Grade (g/t Au) Gold (oz) Tonnes Grade (g/t Au) Gold (oz) Tonnes Grade (g/t Au) Gold (oz) Measured 131,250 1.39 5,880 445,250 6.60 94,530 576
Slide 18: Plan View of Constrained Mineral Resources
PERRON PROJECT PLAN VIEW OF CONSTRAINED MINERAL RESOURCES N110 JT Alizée Grey Cat Team UHGZ HGZ E2 Gratien Denise TSXV: AMX | FSE: MX0 | OTCQX: AMXEF amexexploration.com 18
Slide 19: Amex Delivers Exceptional PEA on Perron Gold Project
PRELIMINARY ECONOMIC ASSESSMENT HIGHLIGHTS AMEX DELIVERS EXCEPTIONAL PEA ON PERRON GOLD PROJECT • 1,750 tonnes per day (t/d) • LOM all-in sustaining cash • Pre-tax IRR of 59.5% and production rate with a Life- costs (AISC) of US$807/oz Au after-tax IRR of 40.2% Of-Mine (LOM) of 10 years • Years 1 to
Slide 20: Perron Project Infrastructure
PERRON PROJECT INFRASTRUCTURE • High Grade Zone defined to 1.4 km vertically • Low Initial CAPEX of $229 million • Open pits to be back-filled with tailings from processing plan avoiding the need for a Tailings Management Facility – Favourable for environmental permitting and economics TSXV: AMX | F
Slide 21: Economic Analysis Highlights
PERRON PROJECT PEA ECONOMIC ANALYSIS • Base case at US$2,000/oz HIGHLIGHTS • Pre-tax IRR of 59.5% (40.2% After-tax) • Pre-tax NPV of $948M ($525M After-tax) After-Tax Gold Price NPV (5%) Initial CAPEX Total OPEX FX • Cumulative Pre-tax Undiscounted Net FCF of (CA$M) $1,333 M ($767M After-tax) US$/Au
Slide 22: >99% Recovery of Gold and Silver
HGZ METALLURGY PROGRAM >99% RECOVERY OF GOLD AND SILVER Metallurgical Holes Head Grade Returned • 27.65 g/t Au over 11.80 m (PEM-20-001) • 12.70 g/t Au over 16.60 m (PEM-20-002) • 5.65 g/t Au over 10.60 m (PEM-20-003) • All three composite samples found to be amenable to gravity and cyanidation circ
Slide 23: >95% Gold Recovery from Major Gold Zones
METALLURGICAL RESULTS >95% GOLD RECOVERY FROM MAJOR GOLD ZONES Final results (gravity + flotation + leaching) from the metallurgical test work completed across the Perron property. • Better than 95% gold recovery means our ore is easily processable at virtually every mill in the Abitibi, providing u
Slide 24: Perron Project: Exploration Highlights
TSXV: AMX PERRON PROJECT EXPLORATION HIGHLIGHTS TSXV: AMX | FSE: MX0 | OTCQX: AMXEF amexexploration.com 24
Slide 25: Mineralized System – Plan View
PERRON PROJECT DRILLING MINERALIZED SYSTEM – PLAN VIEW v TSXV: AMX | FSE: MX0 | OTCQX: AMXEF amexexploration.com 25
Slide 26: Mineralized System – Longitudinal
PERRON PROJECT DRILLING MINERALIZED SYSTEM - LONGITUDINAL TSXV: AMX | FSE: MX0 | OTCQX: AMXEF amexexploration.com 26
Slide 27: 2025 Exploration Program
2025 EXPLORATION PROGRAM ADDING VALUABLE OUNCES & SEARCHING FOR THE NEXT BIG GOLD DISCOVERY EXPLORE NEW, UNTESTED TARGETS Regional Drill Program: • The untested Patten Pluton • The northwestern areas of the Beaupré Block. • The Normétal South Block. EXPAND KNOWN GOLD ZONES Expansion Drill Program: •
Slide 28: Eastern Gold Zone: Open in All Directions
EASTERN GOLD ZONE (EGZ) OPEN IN ALL DIRECTIONS ALONG STRIKE & AT DEPTH • Several parallel mineralized zones • Denise Zone + High Grade Zone TSXV: AMX | FSE: MX0 | OTCQX: AMXEF amexexploration.com 28
Slide 29: High Grade Zone (HGZ)
EASTERN GOLD ZONE HIGH GRADE ZONE (HGZ) Highlights from the deeper (eastern) HGZ include: • 102.07 g/t Au over 6.10 m (PE-21-386W1) • 29.62 g/t Au over 8.40 m (PE-21-318) • 35.89 g/t Au over 6.75 m (PE-21-404W2) • 37.59 g/t Au over 6.20 m (PE-21-287) • 30.85 g/t Au over 6.35 m (PE-21-347W5) • 17.01
Slide 30: Denise Zone
EASTERN GOLD ZONE DENISE ZONE Intersected at least 750 vertical metres of gold mineralization starting from surface across a strike of more than 1 km. Highlights from Western Denise • 1.89 g/t Au over 65.00 m, including 197.35 g/t Au over 0.50 m (PE-21-422) • 1.82 g/t Au over 58.50 m, including 177.
Slide 31: Gratien Gold Zone: High Grade Corridor Identified
GRATIEN GOLD ZONE GGZ HIGH GRADE CORRIDOR Drill Hole From (m) To (m) Length (m) Au (g/t) IDENTIFIED PEG-19-65 incl. 109.40 109.40 110.85 110.20 1.45 0.80 67.52 4.13 • Series of stacked vertical mineralized envelopes incl. 110.20 110.85 0.65 145.53 surrounding the contact of Perron Fault PEG-19-66 22
Slide 32: Gratien Gold Zone: Western Extension
GRATIEN GOLD ZONE GGZ WESTERN EXTENSION Best near-surface intercept of 76.69 g/t Au over 3.50 m was found in the western extension of the Gratien orebodies. January 9, 2025 – Assay Results • 5.71 g/t Au over 3.80 m, including 18.15 g/t Au over 0.50 m at a vertical depth of ~230 m (PEG-24-826) • 7.44
Slide 33: Grey Cat Gold Zone Drilling
GREY CAT GOLD ZONE DRILLING From Length Hole ID To (m) Au (g/t) Trenching, mapping, (m) (m) drilling is currently sampling, along with follow-up PEG-19-78 ongoing 94.00 128.00 34.00 1.89 Including 94.00 101.50 7.50 5.07 Including 117.10 128.00 10.90 2.25 PEG-19-80 243.10 270.00 26.90 3.42 Includin
Slide 34: Team Gold Zone: Consolidated (210 & E3)
TEAM GOLD ZONE CONSOLIDATED (210 & E3) • All three zones display similarity in their lithologies, structures and mineralization style, therefore geologically it made sense to combine them into one zone. • Team Zone consists of a large-scale mineralized system containing sub-parallel higher-grade sho
Slide 35: JT Gold Zone: New Gold Discovery
JT GOLD ZONE NEW GOLD DISCOVERY IN A NEVER-BEFORE-SEEN LITHOLOGY WITHIN THE BEAUPRÉ BLOCK OF THE PERRON PROJECT Drill Highlights Include: • 0.91 g/t Au over 70.50 m including 2.83 g/t Au over 10.50 m at vertical depth of ~20-70 m (PEX-24-222) • 0.72 g/t Au over 123.00 m, including 27.12 g/t Au over
Slide 36: E2 Gold Zone: Additional Gold Discoveries
E2 GOLD ZONE ADDITIONAL GOLD DISCOVERIES Hole ID From (m) To (m) Length (m) Au (g/t) Cu (%) Zone Vertical depth PE-24-817 61.5 64.5 3.00 6.02 E2 45 including 63.00 64.50 1.50 10.83 PE-24-819 113.60 116.00 2.40 5.75 E2 105 including 113.60 114.10 0.50 22.63 PE-20-210 108.80 112.70 3.90 58.25 210 Zone
Slide 37: QF Zone: Base Metal Discoveries
QF ZONE BASE METAL DISCOVERIES PEX-21-076 (discovery hole) 2.40% Cu, 0.72% Zn over 7.80m Incl. 3.92% Cu, 1.22% Zn over 4.40m Note: The drill intervals for the QF zone are presented in core lengths. TSXV: AMX | FSE: MX0 | OTCQX: AMXEF amexexploration.com 37
Slide 38: Regional Geochemistry: New Exploration Targets Property Wide
REGIONAL GEOCHEMISTRY NEW EXPLORATION TARGETS PROPERTY WIDE Ag - Soil Au - Soil Au - Bark Cd - Soil Cu - Soil Pb - Soil WSM - Soil Zn - Soil TSXV: AMX | FSE: MX0 | OTCQX: AMXEF amexexploration.com 38
Slide 39: Perron Project Exploration Upside
PERRON PROJECT EXPLORATION UPSIDE • Western Beaupré remains open for further high-grade discoveries • Andesite of Normétal South Block largely untested • Multiple gold and VMS targets to be tested in Normétal Volcanic Complex TSXV: AMX | FSE: MX0 | OTCQX: AMXEF amexexploration.com 39
Slide 40: 2025 Activities & Catalysts
2025 ACTIVITIES & CATALYSTS • Preliminary Economic Assessment completed in Q4, 2024 • HGZ defined to a vertical depth of 1.4 km in PEA and remains open for expansion • Expand Gratien and Grey Cat Zones to west and at depth • Continue geochronology studies on the felsic intrusion on JT Zone • Search