News Summary
The most recent news release, dated December 16, 2025, states that Amex Exploration Inc. has completed the acquisition of 324 non-contiguous mining claims, totaling 8,392.92 hectares, in Abbotsford and Hepburn Townships, Ontario. These new projects add to the company’s existing Perron Gold Project in Quebec and the previously acquired Perron West Project.
This completion follows the initial announcement on December 1, 2025, where Amex outlined the terms of the acquisition. The consideration included $150,000 in cash, 600,000 common shares of Amex (subject to a 36-month escrow period), and a 0.5% Gross Overriding Royalty (GOR) on both the Abbotsford and Hepburn projects. Additionally, the agreement included milestone payments: $1,000,000 in cash upon the disclosure of a mineral resource or reserve of at least one million ounces of gold equivalent, and $500,000 in cash upon the disclosure of a Preliminary Economic Assessment (PEA), Pre-Feasibility Study (PFS), or Feasibility Study (FS). The properties are also subject to an existing 1.5% Net Smelter Royalty (NSR), which Amex has assumed.
Material Impact
The completion of the Abbotsford and Hepburn projects acquisition is a positive development for Amex Exploration Inc. This news confirms the successful execution of a previously announced strategic initiative that significantly expands the company’s exploration footprint, particularly in the underexplored Normetal-Burntbush greenstone belt in Ontario. The December 1st announcement already highlighted the material positive impact of controlling a “truly district-scale land package” of approximately 500 sq km in the Abitibi region.
While the acquisition itself is strategically important for long-term growth and new discovery potential, the *completion* of the acquisition does not introduce new material information or terms beyond what was already disclosed and expected. It is a procedural step that solidifies the company’s ownership of these new assets. Therefore, this specific news release is a routine, albeit positive, update. It is in line with previous expectations, as the initial announcement set the stage for this closing. There are no notable improvements or misses in the terms or process as reported. The primary impact stems from the initial decision to expand the land package, which is now formally realized.
Catalysts
Investors should monitor the following:
– Feasibility Study Progress: Amex is targeting Q1 2026 for the completion of its Phase 1 Feasibility Study for the Perron Gold Project. Any updates on this critical study will be significant.
– Bulk Sample Permitting: Watch for news regarding the approval and commencement of the underground bulk sample program at Perron, for which an application was submitted in September 2025, with an expected start in Q1 2026.
– Exploration Program Updates: Details and initial results from the planned 2026 exploration program, which includes up to 100,000 meters of drilling across the Perron and Perron West projects, as well as the newly acquired Abbotsford and Hepburn projects. This will be key to proving the potential of the expanded land package.
– Metallurgical Testing: Further updates on metallurgical test work, which has already shown excellent recoveries in various zones at Perron, will be important for derisking the project.
Materiality Conclusion
The completion of the Abbotsford and Hepburn projects acquisition is a positive, yet routine, confirmation of a previously announced material event. The strategic expansion of Amex’s land position was already deemed material in the December 1st announcement. This news simply indicates that the transaction has formally closed as expected, with no new substantive changes to the terms or outlook.
