# Amex Delivers a Positive Feasibility Study for Development of the Perron Gold Mine

Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/amex-delivers-a-positive-feasibility-study-for-development-of-the-perron-gold-mi--18c8c89b-079d-467e-ae54-1ace53a9a48d

Original source: https://money.tmx.com/en/quote/AMX/news/6359451830842922/amex-delivers-a-positive-feasibility-study-for-development-of-the-perron-gold-mi

Publisher: tmx

Original announcement: 2026-04-13T07:01:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Amex Exploration Inc.

- Ticker: AMX

- Exchange: TSX

- Region: Québec

- Primary commodity: Gold

- Secondary commodities: None reported

- Document categories: Resource update, Metallurgy

- Extracted: 2026-09-15 10:50:59 UTC

Narrative sentiment: 0.90 · Bullish

## Minestarters Atlas summary

Amex Exploration announced a positive Feasibility Study for its Perron Gold Mine, projecting robust economics for Phase 1 development. The study outlines an underground mining operation with toll milling, targeting average annual gold production of 147,000 ounces at an industry-leading AISC of USD$910/oz. Key financial highlights include a post-tax NPV5% of CAD$1.13 billion and an IRR of 114.6%, with a rapid payback period of 0.5 years. The project boasts high-grade Proven and Probable reserves of 1.99 million tonnes at 12.1 g/t gold, totaling 774,000 ounces, and metallurgical testwork indicates a high gold recovery rate of 97.5%.

Reasoning: The Feasibility Study for the Perron Gold Mine presents exceptionally strong economic metrics, including high IRR and NPV, low operating costs, and rapid payback, underpinned by high-grade reserves and excellent metallurgical recoveries, indicating a highly profitable and de-risked development pathway.

- Positive factor: High post-tax IRR of 114.6% and NPV5% of CAD$1.13 billion demonstrate robust project economics.

- Positive factor: Low initial capital expenditure of CAD$193.9 million with a rapid post-tax payback period of 0.5 years.

- Positive factor: High-grade Proven and Probable reserves of 1.99 million tonnes at 12.1 g/t gold, totaling 774,000 ounces.

- Positive factor: Industry-leading All-in Sustaining Costs \(AISC\) of USD$910/oz Au positions the project in the bottom quartile of the global cost curve.

- Positive factor: High processing recovery rate of 97.5% indicates excellent metallurgical performance with no significant issues identified.

- Positive factor: The Feasibility Study is NI 43-101 compliant and signed off by multiple Qualified Persons, ensuring high reporting standards and credibility.

- Positive factor: Staged development approach with initial toll milling reduces risk and accelerates time to revenue.

- Negative factor: A significant portion of the total mineral resource remains in the Inferred category, which is less confident and cannot be used for economic studies.

Facts used in scoring: 17

## Classification and evidence

**Proven Reserve**

Polarity: positive

Definition: Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: The document explicitly reports 'Proven Mineral Reserves of 346 kt with a gold grade of 12.12 g/t for 135 koz of contained gold'.

Evidence · text

> Proven Mineral Reserves of 346 kt with a gold grade of 12.12 g/t for 135 koz of contained gold

**Probable Reserve**

Polarity: positive

Definition: Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: The document explicitly reports 'Probable Mineral Reserves of 1,643 kt with a gold grade of 12.10 g/t for 639 koz of contained gold'.

Evidence · text

> Probable Mineral Reserves of 1,643 kt with a gold grade of 12.10 g/t for 639 koz of contained gold

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: Table 11 reports 'Meas' resources for both open pit and underground, with a total of 382 kt at 12.54 g/t Au.

Evidence · table

> Meas

Context: Total

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: Table 11 reports 'Ind' resources for both open pit and underground, with a total of 7,801 kt at 5.83 g/t Au.

Evidence · table

> Ind

Context: Total

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: The document states 'The Qualified Persons \(within the meaning of National Instrument 43-101\) responsible for the technical information in this Press Release are Stephen Coates, P.Eng. of Evomine, Alexandre Burelle, P.Eng. of Evomine, Pierre Roy, P.Eng. of Soutex, Antoine Yassa P.Geo. of P&E, Denys Vermette, P.Geo. of Norda Stelo, Jérôme Augustin, Ph.D., P.Geo. of Laurentia Exploration, and Michael Verreault, P.Eng., of Hydro Ressources'.

Evidence · text

> The Qualified Persons \(within the meaning of National Instrument 43-101\) responsible for the technical information in this Press Release are Stephen Coates, P.Eng. of Evomine, Alexandre Burelle, P.Eng. of Evomine, Pierre Roy, P.Eng. of Soutex, Antoine Yassa P.Geo. of P&E, Denys Vermette, P.Geo. of Norda Stelo, Jérôme Augustin, Ph.D., P.Geo. of Laurentia Exploration, and Michael Verreault, P.Eng., of Hydro Ressources

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: The document states 'Mineral Reserves have been estimated in accordance with CIM Definition Standards for Mineral Resources and Mineral Reserves \(2014\), which are incorporated by reference in NI 43-101' and 'The Phase 1 FS was based on the NI 43-101 compliant Perron Project MRE'.

Evidence · text

> Mineral Reserves have been estimated in accordance with CIM Definition Standards for Mineral Resources and Mineral Reserves \(2014\), which are incorporated by reference in NI 43-101

**High Recovery**

Polarity: positive

Definition: Recovery at or above the exceptional band for the commodity and processing route.

Why it applies: The document reports a 'Processing Recovery Rate' of '97.50 %' for gold, which is exceptional for mill processing.

Evidence · table

> 97.50

Context: Processing Recovery Rate

**Free Milling**

Polarity: positive

Definition: Simple, clean ore amenable to standard processing without oxidation.

Why it applies: The document states 'Soutex considers the Perron mineralized material to be well suited for processing in standard Abitibi gold plants, with no significant metallurgical issues identified'.

Evidence · text

> Soutex considers the Perron mineralized material to be well suited for processing in standard Abitibi gold plants, with no significant metallurgical issues identified

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: The document specifies 'a marginal cut-off grade of 2.7 grams per tonne was considered for production and a cut-off grade of 1.2 grams per tonne was considered for development' for reserves, and 'OPEN PIT \(CoG 0.40 g/t Au\)' and 'UNDERGROUND \(CoG 1.40 g/t Au\)' for resources.

Evidence · text

> a marginal cut-off grade of 2.7 grams per tonne was considered for production and a cut-off grade of 1.2 grams per tonne was considered for development

**DFS-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.

Why it applies: The document is a 'Feasibility Study', which is a Definitive Feasibility Study \(DFS\) level of detail.

Evidence · text

> Feasibility Study

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: Table 11 reports 'Inf' resources for both open pit and underground, with a total of 5,044 kt at 4.31 g/t Au.

Evidence · table

> Inf

Context: Total

**QA/QC Disclosed**

Polarity: positive

Story-specific tag

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: The document states 'Standard industry practices will be implemented, including controlled delivery, representative sampling at the plant, and assaying through certified laboratories, all under mutually agreed protocols between the parties. Primary assays for payable calculations will be based on the agreed sampling point at the processing facility. To ensure transparency, provisions for check assays and an independent umpire laboratory will be included'.

Evidence · text

> Standard industry practices will be implemented, including controlled delivery, representative sampling at the plant, and assaying through certified laboratories, all under mutually agreed protocols between the parties. Primary assays for payable calculations will be based on the agreed sampling point at the processing facility. To ensure transparency, provisions for check assays and an independent umpire laboratory will be included

**Single Domain Only**

Polarity: negative

Definition: Testing limited to one composite or domain — representativeness not established.

Why it applies: only one composite was tested

## Extracted facts

Stored fact records: 17. Some facts used in scoring do not have a stored record.

## Resource Estimates (16)

### proven

[Link to this fact](https://atlas-extractions.minestarters.com/news/amex-delivers-a-positive-feasibility-study-for-development-of-the-perron-gold-mi--18c8c89b-079d-467e-ae54-1ace53a9a48d#fact-resource-facts-0)

Perron Gold Mine · gold

#### Identity

- Project: Perron Gold Mine
- Commodity: gold
- Region: canada\_qc
- Reported Region: Abitibi region of Québec
- Ticker: AMX

#### Resource scope

- Estimate type: reserve
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Stephen Coates, Alexandre Burelle, Pierre Roy, Antoine Yassa, Denys Vermette, Jérôme Augustin, Michael Verreault
- Resource group id: resource:0aa15e363e44a492ba0a
- Mining method: combined
- Ownership percent: 100 %

#### Resource Data

- Category: proven
- Tonnes: 346000
- Grade: 12.12
- Grade Unit: g/t
- Contained Metal: 135
- Contained Unit: koz
- Cutoff Grade: 2.7
- Cutoff Unit: g/t Au

#### Prior Estimate

- Resource Date: 2026-04-01

#### Location

- Loc. Confidence: medium

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-13T00:00:00.000Z

Reasoning: The Proven Mineral Reserve demonstrates high confidence in a substantial quantity of high-grade gold, forming a robust foundation for the project's economic viability.

- Positive factor: High-grade Proven Reserve of 12.12 g/t Au, significantly above the strong threshold for underground gold deposits.

- Positive factor: Proven category indicates highest level of geological confidence, suitable for mine planning and economic studies.

- Positive factor: Contained metal of 135 koz Au contributes significantly to the project's overall value.

Evidence · table

> 12.12

Context: 346

#### Tags used in scoring

**Proven Reserve**

Polarity: positive

Definition: Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### probable

[Link to this fact](https://atlas-extractions.minestarters.com/news/amex-delivers-a-positive-feasibility-study-for-development-of-the-perron-gold-mi--18c8c89b-079d-467e-ae54-1ace53a9a48d#fact-resource-facts-1)

Perron Gold Mine · gold

#### Identity

- Project: Perron Gold Mine
- Commodity: gold
- Region: canada\_qc
- Reported Region: Abitibi region of Québec
- Ticker: AMX

#### Resource scope

- Estimate type: reserve
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Stephen Coates, Alexandre Burelle, Pierre Roy, Antoine Yassa, Denys Vermette, Jérôme Augustin, Michael Verreault
- Resource group id: resource:0fdd2595513df38bdbdb
- Mining method: combined
- Ownership percent: 100 %

#### Resource Data

- Category: probable
- Tonnes: 1643000
- Grade: 12.1
- Grade Unit: g/t
- Contained Metal: 639
- Contained Unit: koz
- Cutoff Grade: 2.7
- Cutoff Unit: g/t Au

#### Prior Estimate

- Resource Date: 2026-04-01

#### Location

- Loc. Confidence: medium

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-13T00:00:00.000Z

Reasoning: The Probable Mineral Reserve adds significant high-grade gold ounces to the project, further enhancing its economic potential and confidence.

- Positive factor: High-grade Probable Reserve of 12.10 g/t Au, significantly above the strong threshold for underground gold deposits.

- Positive factor: Probable category indicates a good level of geological confidence, supporting economic viability.

- Positive factor: Contained metal of 639 koz Au represents a substantial portion of the project's total reserves.

Evidence · table

> 12.10

Context: 1,643

#### Tags used in scoring

**Probable Reserve**

Polarity: positive

Definition: Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### probable

[Link to this fact](https://atlas-extractions.minestarters.com/news/amex-delivers-a-positive-feasibility-study-for-development-of-the-perron-gold-mi--18c8c89b-079d-467e-ae54-1ace53a9a48d#fact-resource-facts-2)

Perron Gold Mine · gold

#### Identity

- Project: Perron Gold Mine
- Commodity: gold
- Region: canada\_qc
- Reported Region: Abitibi region of Québec
- Ticker: AMX

#### Resource scope

- Estimate type: reserve
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Stephen Coates, Alexandre Burelle, Pierre Roy, Antoine Yassa, Denys Vermette, Jérôme Augustin, Michael Verreault
- Resource group id: resource:d1e539b5039825bec576
- Mining method: combined
- Ownership percent: 100 %

#### Resource Data

- Category: probable
- Tonnes: 1989000
- Grade: 12.1
- Grade Unit: g/t
- Contained Metal: 774000
- Contained Unit: oz
- Cutoff Grade: 2.7
- Cutoff Unit: g/t Au

#### Prior Estimate

- Resource Date: 2026-04-01

#### Location

- Loc. Confidence: medium

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-13T00:00:00.000Z

Reasoning: The total Mineral Reserve demonstrates a substantial, high-grade gold inventory with a high level of confidence, underpinning the project's strong economic projections.

- Positive factor: Total high-grade reserve of 12.10 g/t Au, well above the strong threshold for underground gold deposits.

- Positive factor: Total contained metal of 774 koz Au represents a significant and valuable gold inventory.

- Positive factor: The combined Proven and Probable categories provide a strong basis for the Feasibility Study.

Evidence · table

> 12.10

Context: 1,989

#### Tags used in scoring

**Probable Reserve**

Polarity: positive

Definition: Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/amex-delivers-a-positive-feasibility-study-for-development-of-the-perron-gold-mi--18c8c89b-079d-467e-ae54-1ace53a9a48d#fact-resource-facts-3)

Perron Gold Mine · gold

#### Identity

- Project: Perron Gold Mine
- Commodity: gold
- Region: canada\_qc
- Reported Region: Abitibi region of Québec
- Ticker: AMX

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Stephen Coates, Alexandre Burelle, Pierre Roy, Antoine Yassa, Denys Vermette, Jérôme Augustin, Michael Verreault
- Resource group id: resource:29dfb906b6a03e96a0c0
- Mining method: combined
- Ownership percent: 100 %

#### Resource Data

- Category: measured
- Tonnes: 48000
- Grade: 1.1
- Grade Unit: g/t
- Contained Metal: 2
- Contained Unit: koz
- Cutoff Grade: 0.4
- Cutoff Unit: g/t Au

#### Prior Estimate

- Resource Date: 2025-05-21

#### Location

- Loc. Confidence: medium

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-13T00:00:00.000Z

Reasoning: This Measured Open Pit resource provides high confidence but is relatively small and low-grade, contributing marginally to the overall project.

- Positive factor: Measured category indicates high confidence in the resource.

- Negative factor: Low grade of 1.1 g/t Au for an open pit gold resource, below the moderate threshold.

- Negative factor: Small tonnage and contained metal for this category.

Evidence · table

> 1.1

Context: 48

#### Tags used in scoring

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/amex-delivers-a-positive-feasibility-study-for-development-of-the-perron-gold-mi--18c8c89b-079d-467e-ae54-1ace53a9a48d#fact-resource-facts-4)

Perron Gold Mine · gold

#### Identity

- Project: Perron Gold Mine
- Commodity: gold
- Region: canada\_qc
- Reported Region: Abitibi region of Québec
- Ticker: AMX

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Stephen Coates, Alexandre Burelle, Pierre Roy, Antoine Yassa, Denys Vermette, Jérôme Augustin, Michael Verreault
- Resource group id: resource:18c71679805fd242f2d1
- Mining method: combined
- Ownership percent: 100 %

#### Resource Data

- Category: measured
- Tonnes: 333000
- Grade: 14.2
- Grade Unit: g/t
- Contained Metal: 152
- Contained Unit: koz
- Cutoff Grade: 1.4
- Cutoff Unit: g/t Au

#### Prior Estimate

- Resource Date: 2025-05-21

#### Location

- Loc. Confidence: medium

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-13T00:00:00.000Z

Reasoning: This Measured Underground resource provides a high-confidence, high-grade component crucial for the project's initial development and economic foundation.

- Positive factor: High-grade Measured Underground resource of 14.2 g/t Au, approaching the exceptional threshold for underground gold deposits.

- Positive factor: Measured category indicates high confidence, suitable for detailed mine planning.

- Positive factor: Significant contained metal of 152 koz Au.

Evidence · table

> 14.2

Context: 333

#### Tags used in scoring

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### measured

[Link to this fact](https://atlas-extractions.minestarters.com/news/amex-delivers-a-positive-feasibility-study-for-development-of-the-perron-gold-mi--18c8c89b-079d-467e-ae54-1ace53a9a48d#fact-resource-facts-5)

Perron Gold Mine · gold

#### Identity

- Project: Perron Gold Mine
- Commodity: gold
- Region: canada\_qc
- Reported Region: Abitibi region of Québec
- Ticker: AMX

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Stephen Coates, Alexandre Burelle, Pierre Roy, Antoine Yassa, Denys Vermette, Jérôme Augustin, Michael Verreault
- Resource group id: resource:d21434cad0800904861e
- Mining method: combined
- Ownership percent: 100 %

#### Resource Data

- Category: measured
- Tonnes: 382000
- Grade: 12.54
- Grade Unit: g/t
- Contained Metal: 154
- Contained Unit: koz
- Cutoff Grade: 2.7
- Cutoff Unit: g/t

#### Prior Estimate

- Resource Date: 2025-05-21

#### Location

- Loc. Confidence: medium

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-13T00:00:00.000Z

Reasoning: The combined Measured resource demonstrates a significant, high-grade gold inventory with the highest level of confidence, underpinning the project's viability.

- Positive factor: High-grade total Measured resource of 12.54 g/t Au, well above the strong threshold for underground gold deposits.

- Positive factor: Total contained metal of 154 koz Au provides a solid, high-confidence base.

Evidence · table

> 12.54

Context: 382

#### Tags used in scoring

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/amex-delivers-a-positive-feasibility-study-for-development-of-the-perron-gold-mi--18c8c89b-079d-467e-ae54-1ace53a9a48d#fact-resource-facts-6)

Perron Gold Mine · gold

#### Identity

- Project: Perron Gold Mine
- Commodity: gold
- Region: canada\_qc
- Reported Region: Abitibi region of Québec
- Ticker: AMX

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Stephen Coates, Alexandre Burelle, Pierre Roy, Antoine Yassa, Denys Vermette, Jérôme Augustin, Michael Verreault
- Resource group id: resource:1c5fcc5d98db6137d041
- Mining method: combined
- Ownership percent: 100 %

#### Resource Data

- Category: indicated
- Tonnes: 2520000
- Grade: 3.16
- Grade Unit: g/t
- Contained Metal: 256
- Contained Unit: koz
- Cutoff Grade: 0.4
- Cutoff Unit: g/t Au

#### Prior Estimate

- Resource Date: 2025-05-21

#### Location

- Loc. Confidence: medium

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-13T00:00:00.000Z

Reasoning: This Indicated Open Pit resource adds substantial tonnage and contained gold at a good grade, contributing significantly to the project's overall resource base.

- Positive factor: Significant tonnage of 2.52 Mt in the Indicated category, providing good geological confidence.

- Positive factor: Grade of 3.16 g/t Au for an open pit resource is strong, above the moderate threshold.

Evidence · table

> 3.16

Context: 2,520

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/amex-delivers-a-positive-feasibility-study-for-development-of-the-perron-gold-mi--18c8c89b-079d-467e-ae54-1ace53a9a48d#fact-resource-facts-7)

Perron Gold Mine · gold

#### Identity

- Project: Perron Gold Mine
- Commodity: gold
- Region: canada\_qc
- Reported Region: Abitibi region of Québec
- Ticker: AMX

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Stephen Coates, Alexandre Burelle, Pierre Roy, Antoine Yassa, Denys Vermette, Jérôme Augustin, Michael Verreault
- Resource group id: resource:723a60077e9a333c8d75
- Mining method: combined
- Ownership percent: 100 %

#### Resource Data

- Category: indicated
- Tonnes: 5281000
- Grade: 7.1
- Grade Unit: g/t
- Contained Metal: 1205
- Contained Unit: koz
- Cutoff Grade: 1.4
- Cutoff Unit: g/t Au

#### Prior Estimate

- Resource Date: 2025-05-21

#### Location

- Loc. Confidence: medium

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-13T00:00:00.000Z

Reasoning: This Indicated Underground resource represents a very large, high-grade component, significantly boosting the project's overall gold inventory and confidence.

- Positive factor: Very large tonnage of 5.28 Mt in the Indicated category, providing strong geological confidence.

- Positive factor: High grade of 7.1 g/t Au for an underground resource, meeting the strong threshold.

- Positive factor: Substantial contained metal of 1,205 koz Au, contributing significantly to the project's value.

Evidence · table

> 7.1

Context: 5,281

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/amex-delivers-a-positive-feasibility-study-for-development-of-the-perron-gold-mi--18c8c89b-079d-467e-ae54-1ace53a9a48d#fact-resource-facts-8)

Perron Gold Mine · gold

#### Identity

- Project: Perron Gold Mine
- Commodity: gold
- Region: canada\_qc
- Reported Region: Abitibi region of Québec
- Ticker: AMX

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Stephen Coates, Alexandre Burelle, Pierre Roy, Antoine Yassa, Denys Vermette, Jérôme Augustin, Michael Verreault
- Resource group id: resource:5539b4c58c2d3102bab5
- Mining method: combined
- Ownership percent: 100 %

#### Resource Data

- Category: indicated
- Tonnes: 7801000
- Grade: 5.83
- Grade Unit: g/t
- Contained Metal: 1461
- Contained Unit: koz
- Cutoff Grade: 2.7
- Cutoff Unit: g/t

#### Prior Estimate

- Resource Date: 2025-05-21

#### Location

- Loc. Confidence: medium

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-13T00:00:00.000Z

Reasoning: The total Indicated resource significantly enhances the project's gold inventory with a high level of confidence, supporting future development.

- Positive factor: Very large total Indicated resource of 7.80 Mt, providing strong geological confidence.

- Positive factor: High contained metal of 1,461 koz Au, representing a significant gold inventory.

- Positive factor: Grade of 5.83 g/t Au is strong for a combined resource.

Evidence · table

> 5.83

Context: 7,801

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### indicated

[Link to this fact](https://atlas-extractions.minestarters.com/news/amex-delivers-a-positive-feasibility-study-for-development-of-the-perron-gold-mi--18c8c89b-079d-467e-ae54-1ace53a9a48d#fact-resource-facts-9)

Perron Gold Mine · gold

#### Identity

- Project: Perron Gold Mine
- Commodity: gold
- Region: canada\_qc
- Reported Region: Abitibi region of Québec
- Ticker: AMX

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Stephen Coates, Alexandre Burelle, Pierre Roy, Antoine Yassa, Denys Vermette, Jérôme Augustin, Michael Verreault
- Resource group id: resource:e7d8d6ddb68d4054df9d
- Mining method: combined
- Ownership percent: 100 %

#### Resource Data

- Category: indicated
- Tonnes: 8183000
- Grade: 6.14
- Grade Unit: g/t
- Contained Metal: 1615
- Contained Unit: koz
- Cutoff Grade: 2.7
- Cutoff Unit: g/t

#### Prior Estimate

- Resource Date: 2025-05-21

#### Location

- Loc. Confidence: medium

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-13T00:00:00.000Z

Reasoning: The combined Measured and Indicated resource represents a substantial, high-confidence gold inventory, significantly de-risking the project and supporting its economic potential.

- Positive factor: Very large total M&I resource of 8.18 Mt, providing strong geological confidence \(69.8% M&I\).

- Positive factor: Exceptional contained metal of 1,615 koz Au, representing a world-class gold inventory.

- Positive factor: Grade of 6.14 g/t Au is strong for a combined resource.

Evidence · table

> 6.14

Context: 8,183

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/amex-delivers-a-positive-feasibility-study-for-development-of-the-perron-gold-mi--18c8c89b-079d-467e-ae54-1ace53a9a48d#fact-resource-facts-10)

Perron Gold Mine · gold

#### Identity

- Project: Perron Gold Mine
- Commodity: gold
- Region: canada\_qc
- Reported Region: Abitibi region of Québec
- Ticker: AMX

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Stephen Coates, Alexandre Burelle, Pierre Roy, Antoine Yassa, Denys Vermette, Jérôme Augustin, Michael Verreault
- Resource group id: resource:f7f853a04b8cfb679fba
- Mining method: combined
- Ownership percent: 100 %

#### Resource Data

- Category: inferred
- Tonnes: 1044000
- Grade: 2.02
- Grade Unit: g/t
- Contained Metal: 68
- Contained Unit: koz
- Cutoff Grade: 0.4
- Cutoff Unit: g/t Au

#### Prior Estimate

- Resource Date: 2025-05-21

#### Location

- Loc. Confidence: medium

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-13T00:00:00.000Z

Reasoning: This Inferred Open Pit resource provides additional exploration upside but carries lower confidence and is not yet suitable for detailed economic evaluation.

- Positive factor: Adds to the overall resource potential.

- Negative factor: Inferred category has the lowest geological confidence and cannot be used for economic studies.

- Negative factor: Grade of 2.02 g/t Au for an open pit resource is moderate, but still speculative.

Evidence · table

> 2.02

Context: 1,044

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/amex-delivers-a-positive-feasibility-study-for-development-of-the-perron-gold-mi--18c8c89b-079d-467e-ae54-1ace53a9a48d#fact-resource-facts-11)

Perron Gold Mine · gold

#### Identity

- Project: Perron Gold Mine
- Commodity: gold
- Region: canada\_qc
- Reported Region: Abitibi region of Québec
- Ticker: AMX

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Stephen Coates, Alexandre Burelle, Pierre Roy, Antoine Yassa, Denys Vermette, Jérôme Augustin, Michael Verreault
- Resource group id: resource:2da5293c055f0270928a
- Mining method: combined
- Ownership percent: 100 %

#### Resource Data

- Category: inferred
- Tonnes: 4000000
- Grade: 4.9
- Grade Unit: g/t
- Contained Metal: 631
- Contained Unit: koz
- Cutoff Grade: 1.4
- Cutoff Unit: g/t Au

#### Prior Estimate

- Resource Date: 2025-05-21

#### Location

- Loc. Confidence: medium

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-13T00:00:00.000Z

Reasoning: This large Inferred Underground resource highlights significant future potential but requires further drilling to upgrade confidence for economic evaluation.

- Positive factor: Significant tonnage of 4.0 Mt in the Inferred category, indicating substantial exploration potential.

- Positive factor: Contained metal of 631 koz Au is substantial for an Inferred resource.

- Negative factor: Inferred category has the lowest geological confidence and cannot be used for economic studies.

- Negative factor: Grade of 4.9 g/t Au for an underground resource is moderate, but still speculative.

Evidence · table

> 4.9

Context: 4,000

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### inferred

[Link to this fact](https://atlas-extractions.minestarters.com/news/amex-delivers-a-positive-feasibility-study-for-development-of-the-perron-gold-mi--18c8c89b-079d-467e-ae54-1ace53a9a48d#fact-resource-facts-12)

Perron Gold Mine · gold

#### Identity

- Project: Perron Gold Mine
- Commodity: gold
- Region: canada\_qc
- Reported Region: Abitibi region of Québec
- Ticker: AMX

#### Resource scope

- Estimate type: resource
- Reporting standards: ni\_43\_101
- QP Signed: Yes
- Qualified person names: Stephen Coates, Alexandre Burelle, Pierre Roy, Antoine Yassa, Denys Vermette, Jérôme Augustin, Michael Verreault
- Resource group id: resource:97bfc26498aafd70d876
- Mining method: combined
- Ownership percent: 100 %

#### Resource Data

- Category: inferred
- Tonnes: 5044000
- Grade: 4.31
- Grade Unit: g/t
- Contained Metal: 698
- Contained Unit: koz
- Cutoff Grade: 2.7
- Cutoff Unit: g/t

#### Prior Estimate

- Resource Date: 2025-05-21

#### Location

- Loc. Confidence: medium

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-13T00:00:00.000Z

Reasoning: The total Inferred resource represents a large, speculative gold inventory that offers future growth potential but requires further de-risking.

- Positive factor: Large total Inferred resource of 5.04 Mt, indicating significant exploration potential.

- Positive factor: Contained metal of 698 koz Au is substantial for an Inferred resource.

- Negative factor: Inferred category has the lowest geological confidence and cannot be used for economic studies.

Evidence · table

> 4.31

Context: 5,044

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: qp\_signed is true

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

### proven

[Link to this fact](https://atlas-extractions.minestarters.com/news/amex-delivers-a-positive-feasibility-study-for-development-of-the-perron-gold-mi--18c8c89b-079d-467e-ae54-1ace53a9a48d#fact-resource-facts-14)

Summary of total Mineral Reserves at the Perron · gold

#### Identity

- Project: Summary of total Mineral Reserves at the Perron
- Commodity: gold
- Ticker: AMX

#### Resource scope

- Estimate type: reserve
- Reporting standards: ni\_43\_101
- Resource group id: resource:7627ed604a9387697af7
- Mining method: combined
- Ownership percent: 100 %

#### Resource Data

- Category: proven
- Tonnes: 346
- Grade: 12.12
- Grade Unit: g/t
- Cutoff Grade: 2.7
- Cutoff Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-13T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

- Negative factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 12.12

Context: 346

#### Tags used in scoring

**Proven Reserve**

Polarity: positive

Definition: Measured Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "proven"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**No Contained Metal**

Polarity: negative

Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained\_metal was not reported

### probable

[Link to this fact](https://atlas-extractions.minestarters.com/news/amex-delivers-a-positive-feasibility-study-for-development-of-the-perron-gold-mi--18c8c89b-079d-467e-ae54-1ace53a9a48d#fact-resource-facts-15)

Summary of total Mineral Reserves at the Perron · gold

#### Identity

- Project: Summary of total Mineral Reserves at the Perron
- Commodity: gold
- Ticker: AMX

#### Resource scope

- Estimate type: reserve
- Reporting standards: ni\_43\_101
- Resource group id: resource:00266f928da61c100de2
- Mining method: combined
- Ownership percent: 100 %

#### Resource Data

- Category: probable
- Tonnes: 1643
- Grade: 12.1
- Grade Unit: g/t
- Cutoff Grade: 2.7
- Cutoff Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-13T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

- Negative factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 12.10

Context: 1,643

#### Tags used in scoring

**Probable Reserve**

Polarity: positive

Definition: Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**No Contained Metal**

Polarity: negative

Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained\_metal was not reported

### probable

[Link to this fact](https://atlas-extractions.minestarters.com/news/amex-delivers-a-positive-feasibility-study-for-development-of-the-perron-gold-mi--18c8c89b-079d-467e-ae54-1ace53a9a48d#fact-resource-facts-16)

Summary of total Mineral Reserves at the Perron · gold

#### Identity

- Project: Summary of total Mineral Reserves at the Perron
- Commodity: gold
- Ticker: AMX

#### Resource scope

- Estimate type: reserve
- Reporting standards: ni\_43\_101
- Resource group id: resource:f7952fd02cbf5de7bca7
- Mining method: combined
- Ownership percent: 100 %

#### Resource Data

- Category: probable
- Tonnes: 1989
- Grade: 12.1
- Grade Unit: g/t
- Cutoff Grade: 2.7
- Cutoff Unit: g/t

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-13T00:00:00.000Z

Reasoning: Expanded from multi-commodity resource table for completeness.

- Negative factor: Fact expanded from resource table columns \(model omitted this commodity\).

Evidence · table

> 12.10

Context: 1,989

#### Tags used in scoring

**Probable Reserve**

Polarity: positive

Definition: Indicated Resource with demonstrated economic viability after applying modifying factors.

Why it applies: category is "probable"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: reporting\_standards includes ni\_43\_101

**No Contained Metal**

Polarity: negative

Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.

Why it applies: contained\_metal was not reported

## Metallurgical Results (1)

### metallurgical test program

[Link to this fact](https://atlas-extractions.minestarters.com/news/amex-delivers-a-positive-feasibility-study-for-development-of-the-perron-gold-mi--18c8c89b-079d-467e-ae54-1ace53a9a48d#fact-metallurgical-facts-13)

Perron Gold Mine · gold

#### Identity

- Project: Perron Gold Mine
- Commodity: gold
- Region: canada\_qc
- Reported Region: Abitibi region of Québec
- Ticker: AMX

#### Test Work

- Program Status: detailed
- Test Type: metallurgical test program
- Processing Route: toll milling in standard Abitibi gold plants
- Sample: representative sample of mineralized material, including expected dilution

#### Recovery

- Recovery: 97.5 %
- Recovery Basis: actual\_test
- Head Grade: 12
- Head Grade Unit: gpt

#### Lab

- Laboratory: ALS Global
- Consultant: Soutex

#### Location

- Loc. Confidence: medium

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2026-04-13T00:00:00.000Z

Reasoning: The metallurgical testwork demonstrates an exceptionally high gold recovery rate from free-milling ore, confirming the material's amenability to conventional processing and significantly de-risking the project's processing pathway.

- Positive factor: Exceptional gold recovery rate of 97.5%, well above the exceptional threshold for mill/CIL processing.

- Positive factor: Metallurgical test program confirmed suitability for standard Abitibi gold plants with no significant issues, indicating free-milling ore.

- Positive factor: Testwork managed by a reputable consultant \(Soutex\) and samples submitted to a global laboratory \(ALS Global\).

- Positive factor: QA/QC procedures including check assays and umpire laboratory are planned, enhancing data credibility.

Evidence · table

> 97.50

Context: 1,989

#### Tags used in scoring

**High Recovery**

Polarity: positive

Definition: Recovery at or above the exceptional band for the commodity and processing route.

Why it applies: 97.5% is at or above the exceptional band \(95%\)

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.