Quebec, Canada – Amex Gold Mining, a prominent player in the Canadian gold exploration landscape, has announced a significant advancement at its wholly owned Perron Gold Project in Quebec, with the commencement of underground ramp development. On September 3, 2026, the company confirmed that its underground contractor, CMAC-Thyssen, has begun ramp work, following the successful construction of the underground portal and the completion of the initial blast.

This pivotal milestone signifies a transition from surface exploration to tangible underground development at the Perron project, located in the resource-rich Valcanton territory, approximately 110 kilometers north of Rouyn-Noranda. The strategic move is set to provide direct access to the project's high-grade mineralized zones and is a precursor to a comprehensive bulk sample program, critical for de-risking and optimizing future mine operations.

The Perron Gold Project: A Strategic Asset in Quebec's Abitibi Greenstone Belt

The Perron Gold Project is a substantial land package, encompassing 183 contiguous claims that cover an expansive surface area of 65.72 square kilometers. Strategically positioned within the renowned Abitibi Greenstone Belt, one of the world's most prolific gold-producing regions, the project has garnered considerable industry attention due to its diverse mineralization profile. Beyond multiple zones of high-grade gold mineralization, Perron also hosts copper-rich volcanogenic massive sulphide (VMS) and gold-rich VMS occurrences, underscoring its multifaceted resource potential.

Quebec, as a jurisdiction, offers a favorable operating environment for mining companies, characterized by its robust infrastructure, skilled workforce, and supportive regulatory framework. These factors enhance the appeal of projects like Perron, providing a stable foundation for long-term development and investment. The project's location in Valcanton further benefits from proximity to established mining communities and supply chains, which are essential for efficient and cost-effective project execution.

Initiating Underground Development: The Ramp and Portal Infrastructure

The core of this latest development lies in the construction of an underground portal and the subsequent blasting for the main access ramp. Amex Gold engaged CMAC-Thyssen, an experienced underground mining contractor, to execute this crucial phase. The ramp is engineered to descend to a vertical depth of approximately 235 meters, a depth specifically chosen to intersect and provide access to the high-grade Champagne Zone, one of Perron's most promising gold discoveries.

Amex Exploration president and CEO, Victor Cantore, emphasized the significance of this phase, stating, "With the portal complete, we are moving to on-schedule ramp development that will allow us to access the high-grade Champagne Zone." He further highlighted, "The first blast of the underground ramp is a significant milestone for Amex. The portal and ramp are being built to production-scale specifications, supporting both the bulk sample and future mine development." This statement is critical, indicating Amex Gold's long-term vision for Perron extends beyond mere exploration, aiming for eventual full-scale commercial production.

The completion of the initial drill-and-blast work for the bulk-sample portal, announced by the company last month (August 2026), laid the groundwork for this accelerated underground development. This systematic approach ensures that the necessary infrastructure is in place to proceed efficiently with the subsequent stages of the project.

The Strategic Importance of the 40,000-Tonne Bulk Sample Program

The primary driver behind the current underground development is the preparation for an extensive 40,000-tonne bulk sample program. This program is not merely about extracting ore; it is a critical de-risking exercise designed to gather comprehensive data that will inform and refine all subsequent stages of the Perron project. The insights gained from such a large-scale sample are invaluable for transitioning from inferred or indicated resources to proven and probable reserves, which is a key step in securing project financing and justifying capital expenditure for full-scale operations.

The bulk sample is specifically intended to generate additional data across several key operational and geological parameters, including:

  • Mining Conditions: Understanding the geotechnical characteristics of the rock mass, identifying potential ground control challenges, and optimizing mining methods for efficiency and safety.
  • Grade Continuity: Verifying the spatial distribution and consistency of gold mineralization within the Champagne Zone, which is crucial for accurate resource modeling and mine planning.
  • Dilution: Assessing the amount of waste rock inadvertently mined with the ore. Minimizing dilution is paramount for maintaining ore grade and optimizing processing costs.
  • Reconciliation: Comparing the actual mined grade and tonnage from the bulk sample against the geological block model and resource estimates. This helps validate the accuracy of the geological model and improve future predictions.
  • Metallurgical Performance: Evaluating how the ore responds to different processing techniques to determine the optimal recovery methods and predict overall gold recovery rates. This data is fundamental for designing the processing plant and estimating operational costs.

By thoroughly addressing these aspects, the bulk sample program aims to significantly reduce the inherent risks associated with mining project development. This comprehensive data collection will underpin future engineering studies, including pre-feasibility and feasibility studies, providing a more robust and confident economic assessment of the Perron Gold Project.

Corporate Vision and Industry Implications

Victor Cantore’s statements underscore Amex Gold's commitment to advancing Perron systematically and strategically. Building the portal and ramp to "production-scale specifications" suggests a clear intention to minimize future redesigns or expansions, thereby streamlining the path to potential commercial production. This forward-thinking approach can lead to significant cost and time savings in the long run.

For the broader mining industry and investors, Amex Gold’s progression at Perron represents a positive indicator of value creation. Successful de-risking through detailed bulk sample programs can unlock substantial capital, making projects more attractive to institutional investors and potential off-take partners. In a global gold market that constantly seeks new, high-grade discoveries to replenish diminishing reserves, projects like Perron are vital. The initiation of underground development at a project located in a tier-one mining jurisdiction like Quebec reinforces confidence in the region's geological potential and operational viability.

Moreover, the emphasis on data collection regarding mining conditions, grade continuity, and metallurgical performance reflects modern best practices in mining development. Companies that invest in thorough pre-production data gathering are typically better positioned to avoid costly surprises during construction and operation, leading to more predictable financial outcomes.

Future Outlook and Next Steps for Perron

The immediate future for Amex Gold at Perron will involve the diligent continuation of ramp development by CMAC-Thyssen to reach the target depth of approximately 235 meters. Concurrently, preparations for the extraction and processing of the 40,000-tonne bulk sample will be underway. The execution and subsequent analysis of this bulk sample will be the next major catalyst for the project.

Upon completion of the bulk sample program and the detailed analysis of the gathered data, Amex Gold will be in a strong position to update its resource models, incorporate the new insights into optimized mine plans, and potentially proceed with further engineering studies, such as a Pre-Feasibility Study (PFS) or a Feasibility Study (FS). These studies would provide definitive economic parameters and a detailed plan for the construction and operation of a commercial mine at Perron.

The long-term vision, as articulated by Cantore, suggests that Perron is on a trajectory toward becoming a significant gold producer. The "production-scale specifications" for the current infrastructure signify that Amex Gold is laying the groundwork for a robust and efficient mining operation, aiming to capitalize on the rich mineralization within the Champagne Zone and other promising areas within its extensive claim package.

This systematic advancement at the Perron Gold Project positions Amex Gold as a company steadily progressing its assets from discovery to development, contributing to Canada's role as a leading global mining nation and offering a compelling investment narrative for those following the gold sector.