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Amex, with its partner Agnico Eagle Mines, will be working on the Perron property. Agnico Eagle has to spend $4,500,000 in exploration before June 21, 2017 to acquire 51% interest.

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Message: Amex announces the 2009 drill results

Amex announces the 2009 drill results

posted on Sep 30, 2009 04:42PM

Amex announces the 2009 drill results

	    Discovery of a 5th Gold-Bearing Zone on Perron

	    MONTREAL, Sept. 30 /CNW Telbec/ - Amex Exploration Inc (AMX-TSX-V) is
pleased to announce the 2009 drill results on the Perron project of which the
highlight is the intersection at depth in hole PE2009s17 of a new mineralized
structure. This new structure has 10 meters in width, from 271m to 281m, and a
value of up to 11.89 g/t Au over 1.0 meter, in the central part. It is
different from the other 3 adjacent Zones by its base metal content (up to
0,65 % Zn et 0,06 % Cu ) and by an intense silicification. In fact, this "new"
Zone is similar to Zone 4 which is located almost 1 kilometre to the East.
Amex recalls that drill hole P9951 intersection in Zone 4 was of 1.7 g/t Au,
0.60% Zn and 0.08% Cu over 21.8m (from 351 to 372.8m at depth) including 6.0
g/t Au, 0.95% Zn et 0.20% Cu over 4.8m.
	    This new intersection in the last hole (PE200917) of this drilling
campaign suggests that the presence of a fifth gold Zone is possible on the
project. A first resource estimation of 70 000 ounces of gold on Zone 3 alone
(see Jacques Marchand 43-101 report dated June 2 2009) was announced by the
company (see April 21 2009 press release). Jacques Trottier, president of the
company is as a hole very satisfied by the results of this last drilling
campaign and declares: "The addition of a potential new Zone at depth tends to
confirm a diversified and complex gold system at Perron". The Perron project
constitutes the principal asset of the company and is part of the Normétal
property in Abitibi, wholly owned by Amex.
	    The main objectives of the program were to define the extensions in
surface and at depth of Zone 3 and to confirm the continuity of Zones 1 and
Rhyolite in unexplored areas.

	    Important points of this last campaign are the following:

	    <<
	    -   Drill hole PE200912 cut a gold intersection with a value of 24,3g/t
	        Au over 0,3m, similar to those in the Rhyolite Zone. It is located
	        approximately 250m to the north west of this Zone. This area has not
	        been previously investigated by drilling.
	    -   Drill hole PE200916 contains 3 intersections of 5,0g/t Au over 0,8m,
	        5,8g/t Au over 0,5m and 5,9g/t Au over 0,6m, corresponding to Zone 1.
	        This area contains several gold-bearing Zones.
	    -   Drill holes PE200907 and 08 confirm the Rhyolite Zone with values of
	        0,6g/t Au over 0,7m and of 1,0g/t Au over 0,9m. The latter indicates
	        a continuity of this Zone at depth below level 150m. This Zone is now
	        defined over 250m laterally and at a depth of more than 200m.
	    -   Drill holes PE200913 and 14 confirm Zone 3 in the west central part
	        of the Zone with values of 1,0g/t Au over 2,2m and of 0,6g/t Au over
	        1,4m respectively. These values match the defined resource in this
	        area of the Zone.
	    -   Drill holes PE200910 and 15 confirm Zone 3 at 75m below the surface
	        in the central part of the Zone with values of 2,3g/t Au over 0,6m
	        and of 0,7g/t Au over 5,6m respectively. These intersections are in
	        sections which add resources to this Zone.
	    -   Drill holes PE200909, 12 and 16 confirm Zone 3 at 275m below the
	        surface in the central part of the Zone with values of 0,7g/t Au over
	        0,4m, of 0,7g/t Au over 0,8m and of 0,3g/t Au over 1,0m respectively.
	        These intersections add resources to the Zone.
	    -   Drill hole PE200917 confirms Zones 1, 2 and 3 with values of 3,60g/t
	        Au over 0,5m, 1,23g/t Au over 1,0m, and 4,22g/t Au over 1,0m.
	        Furthermore, this hole intersected, from 271 to 281 meters, a
	        silicified and mineralized Zone with a value of 11,89g/t Au over
	        1,0m. This intersection can possibly indicate the presence of a fifth
	        gold-bearing Zone.
	    >>

	    It is worth noting the fact that each Zone contains historically
exceptionally high values of more than 30g/t Au which is normal for this type
of gold-bearing deposit in the Abitibi.
	    The 2009 drill campaign shows 38 samples with values higher than 0,5 g/t
Au. Nineteen of them have values higher than 1.0 g/t Au (see table below).

	    <<
	               MINERALIZED SAMPLES (greater than) 1.0 g/t Au:

	    -------------------------------------------------------------------------
	    Drill hole   From (m)       To (m)   Sample No.   Length (m)      Au g/t
	    -------------------------------------------------------------------------
	    PE200908      148,12       148,42        43795         0,30         1,08
	    -------------------------------------------------------------------------
	    PE200908      148,42       149,04        43796         0,62         1,04
	    -------------------------------------------------------------------------
	    PE200908      237,00       237,80        43821         0,80         1,07
	    -------------------------------------------------------------------------
	    PE200910       12,62        13,25        43897         0,63         1,48
	    -------------------------------------------------------------------------
	    PE200910      110,23       110,83        43912         0,60         2,33
	    -------------------------------------------------------------------------
	    PE200912       39,30        39,60        43998         0,30        24,31
	    -------------------------------------------------------------------------
	    PE200912      156,85       157,76         7526         0,91         1,66
	    -------------------------------------------------------------------------
	    PE200913      225,52       226,08         7637         0,56         1,23
	    -------------------------------------------------------------------------
	    PE200913      226,90       227,70         7640         0,80         1,71
	    -------------------------------------------------------------------------
	    PE200914      134,65       135,00         7678         0,35         1,41
	    -------------------------------------------------------------------------
	    PE200915      118,26       119,26         7692         1,00         1,26
	    -------------------------------------------------------------------------
	    PE200915      121,74       122,16         7697         0,42         1,13
	    -------------------------------------------------------------------------
	    PE200916      105,84       106,60         7817         0,76         4,97
	    -------------------------------------------------------------------------
	    PE200916      157,00       157,50         7829         0,50         5,83
	    -------------------------------------------------------------------------
	    PE200916      189,80       190,40         7834         0,60         5,92
	    -------------------------------------------------------------------------
	    PE200917      136,40       135,90         7917         0,50         3,60
	    -------------------------------------------------------------------------
	    PE200917      184,70       185,70         7922         1,00         1,23
	    -------------------------------------------------------------------------
	    PE200917      250,60       251,60         7936         1,00         4,22
	    -------------------------------------------------------------------------
	    PE200917      278,00       278,00         7946         1,00        11,89
	    -------------------------------------------------------------------------
	    >>

	    Although this phase of drilling did reach the objectives as a whole, the
interpretation regarding the continuity and extension of each of the Zones and
particularly Zone 3, will require more work and understanding. In this regard,
the company is systematically compiling all the drill results in order to
establish, if required, a coherent structural model which would be used as an
orientation tool in the continuation of drilling. Following this compilation
work, Amex intends to pursue with a new aggressive drilling campaign to test
the extension of this new Zone together with the other Zones on the property.
This program will start as soon as possible.
	    Jacques Trottier is acting as Qualified Persons in compliance with
National Instrument 43-101 with respect to this release and has reviewed the
contents for accuracy.

	    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.






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