Amex Exploration Inc.

TSX VENTURE : AMX


Amex Exploration Inc.

April 29, 2014 09:42 ET

Amex Increases its Land Position at Cameron, Abitibi

MONTREAL, CANADA--(Marketwired - April 29, 2014) - Amex Exploration Inc. (TSX VENTURE:AMX) is pleased to announce that it has received confirmation from the Quebec Ministry of Natural Resources (Mines) that it has staked successfully 80 additional claims, totalling 4,499.4 hectares, contiguous to its 100% owned Cameron gold property. With this addition, the Cameron gold property now consists of a total of 93 claims covering a total area of 5,230.2 hectares

These new titles were claimed on the basis of the recently announced drill results that confirmed the presence of a new mineralized high grade gold structure, with values of up to 7,37 g/t Au over 1.4 meters located within a broader lower grade zone that returned an average value of 1,27 g/t Au over 9,5 meters in hole CA-13-04 (see PR date April 9, 2014). This latest phase of drilling has demonstrated that this structure has a width of about 7,5 to 9,5 meters, oriented ENE-WNW, and that can be followed over a strike length of at least 200 meters. This structure appears from surface to a minimum depth of at least 125 meters and is open in all direction. This interpretation has leaded the company in its decision to increase significantly the size of the property.

The Cameron property is located at about 25 kilometres to the NE of Lebel-sur-Quévillon in the north-western part of Quebec. Geologically, it is covered by volcano sedimentary rocks of the Abitibi Sub province which consists mostly of basaltic to andesitic rocks with five felsic horizons present in the drilled area. The property is strategically located near the intersection of the Cameron and Chieftain regional deformation corridors and is cut by the regional NE trending Franquet and Wedding faults. To the northwest, shear-related gold mineralization has been discovered along the NW-SE Cameron deformation corridor at the Flordin deposit with reserves of 815 500T @ 5.1 g/t Au and at the Cartwright deposit with 83 000T @ 10.4 g/t Au (ref Roy et al. ET-97-02,1997,27 p.).

Amex Exploration Inc. also announces that its Board of Directors approved the granting of incentive stock options under its stock option plan to its directors and consultants to acquire up to an aggregate of 1,225,000 common shares. All of the options are exercisable for a period of 5 years at a price of $ 0.15.

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.

Jacques Marchand, P.Eng., who is a Qualified Persons as defined by Canadian NI 43-101, have approved the technical information reported in this news release.

Forward-looking statements:

Except for statements of historical facts, all statements in this news release regarding, without limitation, new project acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; Actual results and future events could differ materially from those anticipated in such statements.

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
    (514) 866-8209