Amex Closes $250,000 Private Placement

MONTREAL, QUEBEC--(Marketwire - March 21, 2011) - Amex Exploration Inc. (TSX VENTURE:AMX) ("Amex" or the "Corporation") announces that it has closed a non-brokered private placement consisting of 1,000,000 units (the "Units") of Amex, at $0.25 per Unit, for total gross proceeds of $250,000. Each Unit is comprised of one non flow-through common share of Amex and one common share purchase warrant entitling the holder thereof to acquire one additional common share of Amex at $0.40 per share for a period of 18 months following the closing date.

In connection with this financing, Amex paid a cash commission of $10,000 to NBCN Inc. and issued 40,000 broker warrants, each broker warrant entitling NBCN Inc. to purchase one common share of Amex at the price of $0.40 during a period of 18 months following the closing date.

All securities issued pursuant to the private placement are subject to a four-month and one-day hold period, expiring on July 22, 2011. The private placement and the payment of the commissions are subject to the final approval of the TSX Venture Exchange (the "TSX-V").

Proceeds of the private placement will be applied toward exploration work on the Corporation's properties in Mexico and Quebec, and towards meeting short term operating working capital requirements.

Amex is a junior mining exploration company, the common shares of which are listed on the TSX-V. Amex's primary objective is to develop and bring into production viable gold and base metal deposits.