Advanced Gold Exploration Announces Initial Issuance Under Option Agreement

About this update from Advanced Gold Exploration Inc.

Vancouver, British Columbia--(Newsfile Corp. - July 2, 2026) - ADVANCED GOLD EXPLORATION INC. (CSE: AUEX) (FSE: ZF2) (OTCQB: AUHIF) ("AUEX" or the "Company") is pleased to announce that, further to its press release of June 23, 2026, it has issued an aggregate of 400,000 common shares (each, a "Common Share") in the capital of the Company pursuant to option agreement (the "Option Agreement") dated June 23, 2026 with each of Bounty Gold Corp. ("Bounty") and Last Resort Resources Ltd. ("Last Resort" and together with Bounty, the "Optionors"), pursuant to which the Company was granted an option (the "Option") to acquire the Muriel-Marr Project in the Thunder Bay North district of northwestern Ontario (the "Muriel-Marr Project"). The total land package comprises 403 unpatented mining claims spanning approximately 8,287 hectares in a proven mining district that hosts multiple advanced exploration and development-stage projects. The Common Shares were issued as partial consideration for the exercise of the Option and marks an important step in consolidating a district-scale position with potential for multiple discovery targets. In addition, in connection with the transactions contemplated by the Option Agreement, the Company has issued an aggregate of 238,888 Common Shares to certain finders as finder's fees, at a deemed issuance price of $0.135 per Common Share. The Company believes the participation of experienced prospectors and finders with a track record of identifying new opportunities in Ontario adds valuable local expertise and enhances the technical foundation of the Muriel-Marr exploration program. All securities issued pursuant to the Option Agreement will be subject to a statutory hold period of four months and one day from the issuance thereof, as applicable, in accordance with applicable securities laws. ABOUT ADVANCED GOLDAdvanced Gold Exploration is a Canadian mineral exploration company with a portfolio of Canadian gold and copper properties, primarily the Doyle and Buck Lake Ontario properties. A recent acquisition of the Silver Belle property in Nevada has expanded the portfolio. The company's expertise is in identifying and acquiring undervalued properties with significant historical work, which it believes it can enhance their economic value at today's prices. The company's purpose is to bring immediate and long-term value to its partners ...

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