Episode Details

Victor Cantore, President and CEO of Amex Exploration Inc. (TSX.V: AMX) (OTCQX: AMXEF), joins me for an exclusive KER video update, with a visual overview of the Perron Gold Project located in Quebec, Canada. We review the constructive advantages to their site infrastructure, get an exploration update on their expanded land package, highlight the key metrics from the Phase 1 Feasibility Study, and outline the next key milestone as the move into a trial-mining bulk sample process.

Feasibility Phase 1 Highlights Released on March 13, 2026:

• Gold production to average 147,000 oz per year over the 5 years of commercial Phase 1 production at an All in Sustaining Cost (“AISC”) of USD$910/oz Au.
• Projected Post-Tax IRR of 114.6% and Post-Tax NPV5 of CAD$1.13 billion generated from a Cumulative Undiscounted Post-Tax Cash Flow of CAD$1.44 billion at an assumed gold price USD$3,500/oz.
• The Phase 1 Feasibility Study evaluates an initial development scenario at Perron, building on the broader potential outlined in the September 2025 PEA, which indicated a potential mine life of approximately 17 years.
• Phase 1 mine development consists of two (2) years pre-production, followed by five (5) years of commercial mining and toll milling operations
• Executing a toll milling approach reduces risks and accelerates production schedule targeting revenue in 2028

The next key company milestone, before getting to this Phase 1 scenario outlined in the Feasibility Study, will be moving next into the development process for trial-mining of the high-grade Champagne Zone in a bulk sample, to commence the middle of 2027. 

• This bulk sample will accomplish some of the early-stage development slated for Phase 1 in advance (lowering the stated capex in the F.S.).
• The company is now permitted to proceed towards site and ramp development over the next year.
• The plan is then to mine this material for the bulk sample, and process ~40,000 tonnes via toll-milling at a nearby plant; which should result in production of around 20,000-23,000 ounces of gold.
• This bulk sample will be a learning experience in how the mining process, grade reconciliation, and metals recoveries compare to the economic studies in place; while also generating non-dilutive capital to assist with much of the capital needed for Phase 1 development.

The revenues generated from the bulk sample in 2027, then the 4-5 years of DSO toll-mining in Phase 1, will fund the exploration and development work that feeds into the Phase 2 studies.  Phase 2 will envision the move into a larger production scenario building a processing plant on site, from the robust revenues projected during Phase 1.

In addition to all the development slated for this year, the company is pressing forward with an aggressive 100,000 meter drill campaign, continuing to delineate and expand resources at the main Perron Project; while also beginning to explore on their expanded land package across the provincial border into Ontario.  The company has substantially increased their land holdings through a combination of staking claims and the 2 recent acquisitions of the Perron West and the Abbotsford/Hepburn properties.

If you have any questions for Victor regarding Amex Exploration, then please email them into me at Shad@kereport.com, and we’ll get those addressed or covered in future interviews.

• In full disclosure, Shad is a shareholder of Amex Exploration at the time of this recording, and may choose to buy or sell shares at any time.

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