Amex Closes $181,850 Private Placement

MONTREAL, QUÉBEC--(Marketwire - Nov. 22, 2012) - Amex Exploration Inc. (TSX VENTURE:AMX) ("Amex" or the "Corporation") is pleased to announce that it has closed a non-brokered private placement consisting of (i) 667,000 common shares of the Corporation issued on a flow-through basis at an issue price of $0.25 per Flow-Through Share, and (ii) 75,500 common shares of the Corporation issued on a non flow-through basis at an issue price of $0.20 per Common Share, each non flow thru share comprise one common share purchase warrant entitling the holder thereof to acquire one additional common share of Amex at $0.25 per share for a period of 18 months following the closing date for aggregate gross proceeds to the Corporation of $ 181,850.

In connection with the Private Placement, Amex paid a Finder's fee equal to 8% of the net proceed to EMD Financial Inc. ("EMD"), a non-related party to the Corporation, and also granted to EMD 59,400 agent's options (the "Agent's Options"); each Agent's Option entitling the holder thereof to acquire one common share of Amex at a price of $0.25 per common share for a period of 24 months following the closing date of the Private Placement.

The net proceeds from the sale of the Flow-Through Shares will be used by the Corporation to finance the Corporation's exploration program on its properties located in the Province of Quebec, and the net proceeds from the sale of the Common Shares will be used by the Corporation for general working capital purposes.

All securities issued pursuant to the Private Placement are subject to a 4-month and one day hold period, expiring on March 23 2013. The Private Placement is subject to the receipt of all necessary regulatory approvals, including the final approval of the TSX Venture Exchange.

Amex Exploration Inc. is a junior mining exploration company listed on the TSX Venture Exchange whose primary objective is to develop and bring into production viable gold and base metal deposits.