Amex Exploration Inc. (TSXV: AMX, OTC: AMXEF, FSE: MX0) has announced the initiation of a feasibility study for the first phase of the Perron gold project. This significant development follows the release of an updated preliminary economic assessment (PEA) on September 4, 2025, which highlights the project’s promising potential. Located in the mineral-rich region of Quebec, the Perron project is situated near the towns of Normétal and Valcanton.
The feasibility study is expected to be completed by the first quarter of 2026 and will specifically focus on Phase 1 of the project.
The recent PEA outlines a robust mining scenario characterized by a contract mining and toll-milling operation, designed to process up to 1,000 tonnes per day (t/d) over a period of four to five years.
Table of Contents:
Project overview and economic highlights
Key economic aspects from the PEA indicate an estimated initial capital expenditure of $146.1 million, balanced by projected pre-production revenues of $68.6 million. This results in a net initial CAPEX of $77.5 million. The project is anticipated to yield an average annual gold production exceeding 100,000 ounces (oz) at an all-in sustaining cost (AISC) of US$1,165 per ounce. Additionally, the average diluted head grade is projected at 10.07 grams per tonne (g/t).
Strategic decisions and future plans
Victor Cantore, President and CEO of Amex Exploration, commented on the decision to advance directly to the feasibility study. He noted, “Our recent PEA revealed strong economic indicators, prompting us to proceed with a full feasibility study for the Perron project. Focusing on Phase 1 will expedite our development timeline, positioning Amex as a near-term producer.”
Further emphasizing confidence in the project’s viability, Cantore remarked, “With the favorable technical and economic parameters identified in the PEA, we believe that the feasibility study will enable a swift transition into the permitting phase, allowing us to secure project financing and move towards development.” This structured approach reflects the company’s commitment to minimizing risks and maximizing returns.
Collaborative efforts and future phases
Amex Exploration plans to collaborate with several consulting firms based in Quebec, including Evomine Consulting Inc., Norda Stelo, Soutex Inc., A2GC, and Hydro Ressources, to ensure a comprehensive feasibility study. Following the completion of this study, a second feasibility study will be initiated to evaluate the potential for Phase 2 of production.
This phased production strategy aims to reduce risks, streamline the permitting process, and accelerate the timeline to revenue, with a target set for 2028. Additionally, Phase 2 construction will be financed through free cash flow generated during Phase 1 production, thereby minimizing potential shareholder dilution.
Expert oversight
The technical details presented in this announcement have undergone thorough review by qualified professionals, including Aaron Stone, P. Geo., and Jérôme Augustin, P.Geo., Ph.D. Their expertise ensures that the project adheres to industry standards and remains on track for successful development.
About Amex Exploration Inc.
Amex Exploration Inc. has made significant advancements in discovering high-grade gold and copper-rich volcanogenic massive sulphide (VMS) zones at the Perron Gold Project, which spans approximately 110 kilometers north of Rouyn-Noranda, Quebec. The project comprises 117 continuous claims covering an area of 45.18 km² and showcases various styles of both bulk-tonnage and high-grade gold mineralization.
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 total land package expands to a substantial 197.52 km². This extensive area is strategically located within a geology highly conducive to both high-grade gold and VMS mineralization.
The feasibility study is expected to be completed by the first quarter of 2026 and will specifically focus on Phase 1 of the project. The recent PEA outlines a robust mining scenario characterized by a contract mining and toll-milling operation, designed to process up to 1,000 tonnes per day (t/d) over a period of four to five years.0
