11:49 AM EST - Amex Exploration Inc. : announced an option agreement with Bowmore Exploration Inc. in which Bowmore may acquire a 50% interest in the Nueva Escondida property from Minerales X-ORE S.A. de C.V. a Mexican mining corporation subsidiary of Amex Exploration Inc in the State of Sonora, Mexico. In order to buy 50% interest in the Property, Bowmore will make cash payments totaling $200,000 to Amex, issue a total of 150,000 of its common shares and incur expenditures in the aggregate amount of $800,000 within 24 months of the execution of the agreement. At the end of the period, if Bowmore elects to continue to explore the property, a Joint Venture would be formed with Amex on a 50-50% ownership. Amex Exploration Inc.
shares V.AMX are trading even at $0.24.
