Amex Exploration Inc.
TSX VENTURE : AMX

Amex Exploration Inc.

June 25, 2014 09:40 ET

Amex Exploration Inc.: Agnico Eagle Mines Made the Second Cash Payment Regarding the Perron Option Agreement Dated June 2013

MONTREAL, QUEBEC--(Marketwired - June 25, 2014) - Amex Exploration Inc. (TSX VENTURE:AMX) ("Amex" or the "Corporation") is pleased to report that Agnico Eagle Mines Limited (NYSE:AEM)(TSX:AEM), has made the second cash payment of $100,000 on due time, as outline in the Option Agreement for the Perron property (see PR2013-06-21). This cash payment was made on June 20 in order to keep the option Agreement in good standing and is to be followed by subsequent cash payment of $135,000, and $170,000 that are to be respectively made prior to June 21, 2015, and 2016 in order to respect the Perron Option.

The second year of the Option Agreement is underway with a plan to execute a 7,000 meter drilling campaign in three phases during the year 2014 with a budget of approximately $1,000,000.

The first phase of the drilling campaign of 2014 is finalised and consisted of 4 drill holes of approximately 350 to 800 meters deep each, totalling 2,112 meters. The results of the first phase are not finalised yet and we expect to make them available this coming summer.

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.

Neither 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.

Contact Information

  • Jacques Trottier, PhD
    President and Chief Executive Officer
    Amex Exploration: 514-866-8209

    Pierre Carrier
    Chief Operation Officer
    Amex Exploration: 514-866-8209