Amex Exploration Inc.
TSX VENTURE : AMX

Amex Exploration Inc.

November 26, 2013 12:06 ET

Amex Starts a New Drilling Campaign on its Cameron Gold Property, Northern Quebec

MONTREAL, QUEBEC--(Marketwired - Nov. 26, 2013) - Amex Exploration Inc. (TSX VENTURE:AMX) ("Amex" or the "Corporation" ) is pleased to announce that it has just started a new drilling campaign on its 100% owned Cameron gold property located in Northern Québec. The property is located at about 25 kilometres to the NE of Lebel-sur-Quévillon in the north-western part of Quebec, and consists of 13 claims for a total area of 731 hectares.

This new phase of drilling consists of 5 drill holes totalling about 1,250 meters that is in fact a follow-up of Amex drilling campaign done in early 2011 where a gold-bearing shear zone located in a mylonitized felsic volcanic unit was intersected. Indeed, hole CA-11-P2 returned an intersect of 0,93 g/t Au over 9,0 meters including a higher grade sub-intersect of 4,16 g/t Au over 1,5 meters. This hole was actually located just behind SOQUEM old trench 91-13 which was resample by Amex by channel sampling in late 2010 returning anomalous gold content with values of 1,07 g/t Au over 2,3 meters (see PR of September 8th 2010).

Geologically, the property 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 trench 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.).

This new phase of drilling should be terminated by the end of the year and the results should be available in early 2014.

In addition, Amex announces that its board of directors has amended its By-Laws to introduce advance notice requirements for director nominations. The purpose of the amendment is to ensure that shareholder meetings are conducted in an orderly manner and that all shareholders, present or not at such meetings, have access to the same information relating to candidates proposed for directorship so they may cast an informed vote. In essence, the amendment fixes a deadline by which director nominations must be received and specifies the information that must accompany such notification sent to Amex. No person will be eligible for nomination unless notice is sent to Amex no less than 30 days and no more than 65 days prior to the annual general meeting of shareholders and for a special meeting, no later than 15 days following the announcement of such meeting. However, in the event that the annual meeting of shareholders is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice by the nominating shareholder may be made not later than the close of business on the tenth day following the announcement date. Please refer to the full text of the By-Law Amendment which is available at SEDAR (www.sedar.com).

The Bylaw is effective as of the date of its adoption by the Board, November 7, 2013, and will be subject to ratification by the shareholders at the next shareholders meeting.

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 Trottier, PhD Geol. is 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