Montreal, Quebec--(Newsfile Corp. - November 21, 2025) - Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or the "Company") announces a grant of 3,250,000 incentive stock options (the "Options") and 2,026,000 restricted share units (the "RSUs") to certain directors, officers, employees, and consultants to the Company.

Each Option is exercisable to acquire one common share of the Company (a "Share") at a price of $2.85 per Share, for a period of five years from the date of grant. The RSUs shall vest in three equal tranches, with one-third vesting on each of the first, second, and third anniversaries of the date of grant. Upon vesting, each RSU shall entitle the holder to receive one Share. All grants of Options and RSUs are subject to the Company's omnibus equity incentive plan (the "Equity Incentive Plan"), which was approved by shareholders at the Company's annual general and special meeting of shareholders held on June 30, 2025 (the "Meeting"). A copy of the Equity Incentive Plan is included in the Company's management information circular in respect of the Meeting dated May 12, 2025 available via the Company's profile on SEDAR+ at www.sedarplus.ca.

All of the Options and RSUs (and any Shares issuable upon exercise or settlement thereof) will be subject to a four month and one day hold period from the date of grant pursuant to the policies of the TSX Venture Exchange).

About Amex

Amex Exploration Inc. has made significant high-grade gold discoveries, along with copper-rich volcanogenic massive sulphide (VMS) zones, at its 100%-owned Perron Gold Project, located approximately 110 kilometres north of Rouyn-Noranda, Quebec. The Project comprises 117 contiguous claims (45.18 km²) and hosts both bulk-tonnage and high-grade gold mineralization styles.

When combined with the adjacent Perron West Project, which includes 48 claims (17.37 km²) in Quebec and 35 claims (134.55 km²) in Ontario, the consolidated land package spans a district-scale 197.52 km². This extensive property lies within highly prospective geology favourable for both high-grade gold and VMS mineralization.

The Project benefits from excellent infrastructure: it is accessible by a year-round road, located just 20 minutes from an airport, and approximately 8 km from the Town of Normétal. It is also in close proximity to several process plants owned by major gold producers.

For further information please contact:

Victor Cantore
President and Chief Executive Officer
[email protected] Amex Exploration: +1-514-866-8209

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Neither the 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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