Amex Exploration Provides Update on Previously-Announced LIFE Offering and Concurrent Private Placement

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MONTREAL, Quebec, May 15, 2026 (GLOBE NEWSWIRE) -- Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) ("Amex" or the "Company") is pleased to announce that it has received conditional acceptance of the TSX Venture Exchange (the “TSXV”) in respect of the Company’s “best efforts” private placement offering (the “LIFE Offering”) and concurrent private placement (the “Concurrent Private Placement”) previously announced on May 5 and May 11, 2026.

Accordingly, the Company expects to close the LIFE Offering and a first tranche of the Concurrent Private Placement on May 21, 2026 (the “Closing Date”) for aggregate gross proceeds of C$52,547,548.50, consisting of: (i) the LIFE Offering of 9,661,000 common shares of the Company (the “Common Shares”) at a price of C$4.50 per Common Share (the “Offering Price”) for gross proceeds of C$43,474,500; (ii) the non-brokered portion of the Concurrent Private Placement of 1,622,222 Common Shares at the Offering Price for gross proceeds of C$7,299,999; and (iii) a first tranche of the brokered portion of the Concurrent Private Placement of 394,011 Common Shares at the Offering Price for gross proceeds of C$1,773,049.50.

National Bank Financial Inc. and MDCP Securities Limited, as joint bookrunners and co-lead agents, on behalf of a syndicate of agents, have also been granted an option, exercisable in full or in part up to 48 hours prior to the Closing Date, to sell up to 1,449,150 additional Common Shares at the Offering Price for additional gross proceeds of up to $6,521,175 under the LIFE Offering.

Strategic investor Eldorado Gold Corporation (“Eldorado”) has indicated an interest to purchase up to US$15,000,000 of Common Shares under the brokered portion of the Concurrent Private Placement and is entitled to purchase up to 4,864,923 Common Shares at the Offering Price in accordance with the Investor Rights Agreement dated January 16, 2024 between the Company and Eldorado (the “Eldorado Investment”). Completion of the Eldorado Investment remains subject to receipt of all required approvals, including Eldorado being approved as a “Control Person” of the Company (as defined in, and in accordance with, the policies of the TSXV) by the Company’s disinterested shareholders at the Company’s upcoming annual general and special meeting of its shareholders to be held on June 16, 2026 (the “Meeting”), as required by the TSXV prior to the issuance of any further securities to Eldorado. Subject to receipt of disinterested shareholder approval at the Meeting, it is anticipated that the Eldorado Investment will close as a second tranche of the brokered portion of the Concurrent Private Placement following the Meeting.

All other terms of the LIFE Offering and the Concurrent Private Placement are as described in the Company’s news release dated May 11, 2026.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirements is available. “United States” and “U.S. person” have the meaning ascribed to them in Regulation S under the U.S. Securities Act.

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 Perron Project in Quebec consists of 183 contiguous claims for a surface area of 65.75 km². The project hosts several zones of high-grade gold mineralization, VMS mineralization and 'hybrid' gold-rich VMS mineralization.

When combined with the adjacent and contiguous Perron West Project and Abbotsford and Hepburn Projects (including additional claims acquired through staking) in Ontario, the consolidated land package spans a district-scale 570.94 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 30 minutes from an airport, and approximately 6.5 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
Amex Exploration Inc.
Telephone: +1-514-866-8209

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.

Cautionary Note Regarding Forward-Looking Statements

The information contained herein contains “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, statements with respect to, the completion of the LIFE Offering and the Concurrent Private Placement, including the participation of Eldorado and Mr. Victor Cantore under the Concurrent Private Placement; the expected gross proceeds of the LIFE Offering and the Concurrent Private Placement; the intended use of proceeds from the LIFE Offering and the Concurrent Private Placement; the anticipated dates for closing of the LIFE Offering and the Concurrent Private Placement, including the second tranche of the brokered portion of the Concurrent Private Placement; and the receipt of all necessary regulatory and other approvals, including final approval of the TSXV. Generally, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.

Such forward-looking information is based on numerous assumptions including, among others, that the results of planned exploration activities are as anticipated; that the price of gold and other commodities, the anticipated cost of planned exploration activities, and general business and economic conditions will not change in a material adverse manner; that financing will be available if and when needed and on reasonable terms; that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information are considered reasonable by management at the time such assumptions were made, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements including, among others: changes in the Company’s share price, changes in world gold markets, negative operating cash flow and dependence on third party financing; uncertainty regarding the ability to obtain additional financing if and when needed and on reasonable terms; Aboriginal title and consultation issues; reliance on key management and other personnel; actual results of exploration activities being different than anticipated; changes in exploration programs based upon results; availability of third party contractors; availability of equipment and supplies; failure of equipment to operate as anticipated; accidents; effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; general business, economic, competitive, political and social uncertainties; environmental risks; changes in laws and regulations; community relations and delays in obtaining governmental or other approvals and the risk factors with respect to the Company set out in the Company’s filings with the Canadian securities regulators and available under the Company’s issuer profile on SEDAR+ at www.sedarplus.ca. Accordingly, readers should not place undue reliance on forward-looking information. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

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