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Amex Exploration Inc.: Amex Presents Additional Drilling Results at Perron Gold Project

MONTREAL, QUEBEC--(Marketwire - Jan. 27, 2009) - Amex Exploration Inc. (TSX VENTURE:AMX) is pleased to announce the complete drill results on its Perron gold project, which is part of its 100% wholly-owned Normetal property in the Abitibi region of Quebec. The drilling campaign performed in 2008 was a follow-up on interesting gold intersections discovered in previous drilling campaigns. This phase of drilling, consisting in 6 drill holes totalling 1638 meters, focused mainly on Zone 3 that appears to be the most regular and continuous of the three previously known mineralized zones (see May 2008 press release).

The table below shows details of the updated mineralized intersections calculated from the last drilling campaign.

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 From To Length
Drill Hole # Section (m) (m) (m) Au (g/t) Description
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PE-2008-1a 3250E 8,3 9,3 1,0 1,4 Silicified rhyolite
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PE-2008-1 3250E 10,2 11,2 1,0 2,1 Silicified rhyolite
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PE-2008-1 3250E 42,0 44,0 2,0 3,8 Zone 2
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PE-2008-1 3250E 129,0 130,0 1,0 5,0 Zone 3
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PE-2008-2 3150E 25,0 34,0 9,0 2,4
 including 25,0 27,0 2,0 8,4 Rhyolite Zone
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PE-2008-3 3100E 80,0 81,0 1,0 138,7 Zone 1
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PE-2008-3 3100E 217,9 222,0 4,1 14,8 Zone 3
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PE-2008-4 3050E 61,0 61,5 0,5 1,3 Zone 1
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PE-2008-5 3000E 123,0 124,5 1,5 3,4 Zone 2
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PE-2008-5 3000E 193,7 194,7 1,0 14,0 Associated to a
 quartz vein
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PE-2008-5 3000E 210,0 213,0 3,0 5,6 Zone 3
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PE-2008-6 2950E 154,4 168,0 13.6 2.5
 Including 166,0 168,0 2,0 11,3 Zone 3
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Drill results reported from the 2008 drilling campaign returned significant gold intersections such as 14.8 g/t over 4.1 meters in hole PE-2008-03 and 5.6 g/t over 3.0 meters in hole PE-2008-05. Additional drill core sampling resulted in a wider mineralized intersection than previously calculated from hole PE-2008-06 with a value of 2.5 g/t Au over 13.6 meters including 11.3 g/t Au over 2.0 meters. These mineralized intersections are interpreted as the continuity of the Zone 3 at depth.

Therefore, Zone 3 can now be followed over 750 meters in strike length and is still open both laterally and at depth. In fact, this Zone 3 has now been intersected by more than 20 drill holes distributed along a projected inclined (45 degrees) longitudinal plane 25 meter thick. Considering this fact, the management will now proceed with a preliminary in house resources calculation.

Also noteworthy is a mineralized rhyolite containing disseminated sulphides with a reported intersection of 2.4 g/t Au over 9.0 meters in hole PE-2008-2. This intersection confirms the historical intersection of 3.0 g/t Au over 16.5 meters reported in hole P-99-54, located at 40 meters to the Northeast. In fact this new Zone, called the "Rhyolite Zone" has been intersected near surface in at least 4 drill holes over a minimum strike length of 150 meters.

This new zone is very promising as it has several characteristics of a deformed volcanogenic gold mineralization, typical of the famous multi million ounce gold deposits of the Quebec Abitibi region such as the Doyon or Bousquet Mines. Even if the grade in gold is yet not spectacular, the nature of the host rock, a silicified and sericitized rhyolite, combined with its significant width of close to 10 meters or more, make this new Zone a prime target still to be evaluated in more details with additional drilling. Jacques Trottier, President, commented: "Amex's management is very encouraged by the latest results. The key location of this property in the center of the Abitibi Greenstone Belt with nearby mining infrastructures increases the company's interest in further evaluating the mineralized zones obtained so far. In conclusion, the last drilling campaign succeeded in showing continuity of the mineralized Zone 3, a high grade target. This zone is present over a lateral distance of at least 750 meters and to a minimum depth of 200 vertical meters, the zone still being open both laterally and at depth. An in house resources calculation will soon be executed. Drilling also confirmed the presence of disseminated mineralization, now defined as the Rhyolite Zone that represents a new bulk-tonnage top priority exploration target for gold on the property.

Jacques Trottier, geo, Ph. D. is acting as Qualified Person in compliance with National Instrument 43-101 with respect to this release and has reviewed the contents for accuracy.

Neither 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.