Advanced Gold Exploration Announces Option on Buck Lake Copper-Silver VMS Property, Ontario

About this update from Advanced Gold Exploration Inc.

Vancouver, British Columbia--(Newsfile Corp. - June 2, 2026) - ADVANCED GOLD EXPLORATION INC. (CSE: AUEX) (FSE: ZF2) (OTCQB: AUHIF) ("AUEX" or the "Company") is pleased to announce that it has entered into a definitive option agreement (the "Option Agreement"), dated effective May 12, 2026 (the "Effective Date"), with Stage Capital Corp. ("SCC"), pursuant to which the Company has granted SCC an option (the "Option") to acquire a 60% interest in the Company's Buck Lake Project located in the Province of Ontario (the "Property"). Jim Atkinson, Chairman, states, "Our first order of business at the Property is to fly VTEM and Horizontal magnetic gradiometer geophysical survey across our 3km length VMS target. As such, we are pleased to have executed the Option Agreement to continue to advance the Property. We are executing on our business model of adding value to our assets and becoming project generators who enhance value to quality assets using modern exploration techniques. Our recent sale of our Melba property to Heritage Mining Ltd. and this new joint venture with SCC clearly demonstrate the execution of our model. We look forward to working with SCC and its management team as they advance the Property." In accordance with the terms of the Option Agreement, SCC may acquire its 60% undivided interest in the Property by completing the following cash payments and share issuances to the Company, and incurring the following exploration expenditure commitments: SCC has the right, at its sole discretion, to accelerate any of the cash payments, share issuances, or exploration expenditures at any time. Expenditures incurred by SCC in excess of the minimum required for any period will be carried forward and credited against succeeding periods. If SCC does not complete the Listing Date on or before the date that is eighteen (18) months after the Effective Date, the Option Agreement shall automatically terminate. Upon SCC satisfying all cash, share, and expenditure obligations, it will be deemed to have exercised the Option and will vest a 60% interest in the Property. At such time, AUEX and SCC will form an unincorporated joint venture (the "Joint Venture") with an initial participating interest of 60% SCC and 40% AUEX. SCC will act as the initial operator of the Joint Ven...

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