Amex Exploration Inc. reported the metallurgical test work from the Denise, Gratien, Grey Cat and Team gold zones. The overall gold recoveries achieved (gravity + flotation + leaching) tests showed excellent recovery > 95% in all samples and > 98% on high-grade samples. As a reminder, on November 11, 2020, Amex reported metallurgy results from High Grade Zone (HGZ), where all three composites returned better than 99% gold recovery using a simple flowsheet.

Both low and high-grade composites were tested for all zones. Metallurgical work was completed by SGS Canada Inc. The following sections are extracts from the test work obtained from SGS Laboratories, which have been verified by authorized metallurgists. Sample Preparation: Thirteen composites' samples of half core were delivered.

Three of the first samples (Grey Cat Zone) were combined to have more material for the test program, then reducing the composites samples for tests to eleven. Each sample was stage crushed with a combination of jaw, cone and roll crusher to 100% passing 6 mesh. The sample was homogenized, and a 10 kg sub-sample was rotary split for bond ball mill work index testing (BWI) and the remainder was crushed to 100% passing 10 mesh.

The sample was homogenized, and rotary split into 10 kg test charges and a 1 kg head assay charge. Head Characterization: Gold Analysis by Screened Metallics: The 1 kg charges from each sample were submitted for gold analysis using the screened metallics protocol. This method is recommended when the ore is suspected to contain coarse, gravity recoverable gold.

The method involves several stages of pulverizing and screening the pulverized sample at 150 mesh (106 µm) until approximately 20-30 g of material remains in the screen oversize. The screen oversize and duplicate samples of the final combined screen undersize are submitted for chemical analysis and the head assay of the sample calculated from the relative distribution of the screened fractions. The results indicate gold grades ranging from 0.46 g/t to 11.7 g/t, and high gravity recoverable gold, greater than 15% (favorable for gravimetric circuit) for all samples except one sample.

Comminution Test Work: Bond Ball Mill Grindability Test: The bond ball mill grindability test was completed on each of the eleven samples. With bond work index (BWI) values ranging from 14.1 to 20.0 kWh/t, the samples were found to be moderately hard to hard compared to the SGS database. Metallurgical Test Work: Gravity Separation: A single gravity separation test was completed on each composite, evaluating the potential for gravity recoverable gold and silver at a coarse primary grind size (P80 ranging from 184-416 µm) using a Knelson MD-3 concentrator.

The Knelson concentrate was submitted for chemical analysis with the tailings subsampled for chemical analysis and flotation testing. The Knelson concentrate represents the achievable gravity recovery and was able to recover 34 % to 72 % at gold concentrations of 381 g/t Au and 4711 g/t Au, showing that all samples were very amenable to the gravity separation process; except one sample with lowest grade showed 14% recovery and 39 g/t Au. Flotation: A single flotation test was completed on a 2 kg subsample of each of the gravity tailings to evaluate the potential for additional gold recovery.

A simple reagent scheme of 40 g/t potassium amyl xanthate (PAX) as collector and 20 g/t methyl isobutyl carbinol (MIBC) as frother was used at natural pH. The total flotation time was 10 minutes. Subsamples of the rougher concentrate and rougher tailings were submitted for chemical analysis and half of the rougher tails were forwarded to cyanide leaching.

The flotation conditions used recovered 70.1% to 93.1% of the gold, which represents 15.9% to 96.0% of the sulphur. Although the recoveries are quite good, it is likely that the gold and silver recovered to the flotation concentrate would be recoverable through direct cyanidation of the gravity tails. The overall gold recoveries achieved (gravity + flotation) tests showed excellent recovery in all the samples, ranging from 74.3% to 95.5%.

Cyanide Leaching: A single cyanide leach test was completed on a sub-sample of each flotation tailing reground to a P80 of Approx. 90 µm to evaluate the recovery of the remaining gold in the sample by bottle roll cyanide leaching. Each sample was leached at a density of 50% solids, with 0.5 g/L cyanide and maintained for 48 hours at pH 10.5 to 11.0. The cyanidation test conditions used gave excellent results, recovering 79.0 % to 96.7 % of the gold contained in the flotation tailings to the pregnant leach solution after 48 hours.

The overall gold recoveries achieved (gravity + flotation + leaching) tests showed excellent recovery > 95% in all samples and > 98% on high-grade samples. Qualified Person and QA&QC: Jérôme Augustin P.Geo. Ph.D. has reviewed and approved the geological information reported in this news release.

The drilling campaign and the quality control program have been planned and supervised by Jérôme Augustin. Core logging and sampling were completed by Laurentia Exploration. Metallurgical test work was completed by SGS Canada Inc. at its Quebec City testing centers.