<img src="https://ml.globenewswire.com/Resource/Download/e7e1fac8-8176-413b-8cbb-d286ed29e0bf?size=2" nborder="0" align="left" hspace="5" vspace="5" title="images.jpg" alt="Amex Exploration Inc."/>NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES MONTREAL, May 11, 2026 <a href="https://www.globenewswire.com" target="_blank">(GLOBE NEWSWIRE)</a> -- Amex Exploration Inc. (TSXV: AMX) (FSE: MX0) (OTCQX: AMXEF) (“Amex” or the “Company”) is pleased to announce that as a result of excess demand, it has amended its previously announced agreement with National Bank Financial Inc. and MDCP Securities Limited (together, the “Co-Lead Agents”), as joint bookrunners and co-lead agents, on behalf of a syndicate of agents (collectively, the “Agents”), in connection with a “best efforts” private placement offering under the LIFE Exemption (as defined herein) for up to 9,661,000 common shares of the Company (the “Common Shares“) at a price of $4.50 per Common Share (the “Offering Price”) for aggregate gross proceeds of up to $43,474,500 (the “LIFE Offering“). The Agents have also been granted an option, exercisable in full or in part up to 48 hours prior to the Closing Date (as defined herein), to sell up to an additional 1,449,150 Common Shares at the Offering Price for additional gross proceeds of up to $6,521,175 under the LIFE Offering (the “Agents’ Option”). In addition to the LIFE Offering, the Company announces its intention to complete: (i) a non-brokered concurrent private placement offering of up to 1,622,222 Common Shares at the Offering Price (the “Non-Brokered Concurrent Private Placement”); and (ii) a brokered concurrent private placement offering of up to 5,258,934 Common Shares at the Offering Price, assuming the exercise of the Agents’ Option in full and the issuance of the maximum number of Common Shares under the Non-Brokered Concurrent Private Placement (the “Brokered Concurrent Private Placement” and together with the Non-Brokered Concurrent Private Placement, the “Concurrent Private Placement”), for additional aggregate gross proceeds of up to $30,965,202. Strategic investor Eldorado Gold Corporation (“Eldorado”) has indicated an interest to purchase up to 4,566,667 Common Shares under the Brokered Concurrent Private Placement (assuming the exercise of the Agents’ Option in full and the issuance of the maximum number of Common Shares under the Non-Brokered Concurrent Private Placement), in accordance with the Investor Rights Agreement dated January 16, 2024 between the Company and Eldorado. Mr. Victor Cantore, President and CEO of Amex, has also indicated an interest to purchase up to 394,011 Common Shares under the Brokered Concurrent Private Placement (assuming the exercise of the Agents’ Option in full). The net proceeds of the LIFE Offering and Concurrent Private Placement will be used to fund the capital expenditures for the Company’s bulk sampling program and a portion of the phase 1 development of the Perron Gold Project, a feasibility study on the phase 2 development of the project, exploration of the Company’s properties, and general corporate purposes. The Common Shares to be issued under the LIFE Offering will be offered for sale to “accredited investors” (within the meaning of National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”)) in reliance on the “listed issuer financing exemption” available under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the “LIFE Exemption“) in each of the provinces and territories of Canada. The Common Shares to be issued under the LIFE Offering are expected to be immediately freely tradeable under applicable Canadian securities laws if sold to purchasers resident in Canada. The Common Shares to be issued under the Concurrent Private Placement will be issued in reliance on the “accredited investor” exemption available under NI 45-106 in each of the provinces and territories of Canada and will be subject to a four month hold period under applicable Canadian securities legislation. The Common Shares to be issued under the LIFE Offering and the Concurrent Private Placement may also be offered in the United States or to, or for the account or benefit of, U.S. persons, pursuant to one or more exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), and in jurisdictions outside of Canada and the United States on a private placement or equivalent basis, in each case in accordance with all applicable laws, provided that no prospectus, registration statement or other similar document is required to be filed in such jurisdiction. The LIFE Offering and the Brokered Concurrent Private Placement will be completed pursuant to the terms of an agency agreement to be entered into among the Company and the Agents on the Closing Date. The Company will pay to the Agents a cash commission equal to 5.0% of the gross proceeds of the LIFE Offering and the Brokered Concurrent Private Placement, excluding the gross proceeds from the sale of up to 394,011 Common Shares to Mr. Cantore or to investors otherwise identified by the Company pursuant to a “president’s list”. The LIFE Offering and the Concurrent Private Placement are expected to close on or about May 21, 2026, or such other date as the Company and the Co-Lead Agents may agree (the “Closing Date“). Completion of the LIFE Offering and the Concurrent Private Placement is subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange (the “Exchange”). There is an amended and restated offering document related to the LIFE Offering (the “A&amp;R Offering Document“) that can be accessed under the Company’s issuer profile on SEDAR+ at www.sedarplus.ca and on the Company’s website at www.amexexploration.com. Prospective investors should read the A&amp;R Offering Document and other documents on the Company’s issuer profile on SEDAR+ before making an investment decision. 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 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. 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 potential exercise of the Agents’ Option; the anticipated date for closing of the LIFE Offering and the Concurrent Private Placement; and the receipt of all necessary regulatory and other approvals, including approval of the Exchange. 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. <img alt="" src='https://ml.globenewswire.com/media/MDg2MzExOWQtMGJhNi00YjViLWI3NWMtZjNmNGIzNWYwNjMzLTUwMDE0OTUyNC0yMDI2LTA1LTExLWVu/tiny/Amex-Exploration-Inc-.png' referrerpolicy='no-referrer-when-downgrade' />

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Amex Exploration Announces Oversubscribed C$43.5 Million LIFE Offering and Additional Concurrent Private Placement of Up to C$31 Million

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