Advanced Gold Exploration Strikes Option Deal on Major 8,287-Hectare Copper-Gold-Zinc Project

Executive Summary

• Advanced Gold Exploration Inc. (AUEX) has entered into an option agreement to acquire the Muriel-Marr Project, a district-scale exploration property in northwestern Ontario, from Bounty Gold Corp. and Last Resort Resources Ltd.
• The transaction requires AUEX to pay $120,000 in cash, issue 1,500,000 common shares, and incur $161,200 in qualifying expenditures over three years to exercise the option, along with a 2% NSR royalty.
• The 8,287-hectare land package hosts historic high-grade base and precious metal occurrences, with near-term exploration plans focused on ground-truthing historical showings and following up on significant EM conductor trends.

Key Details

• Transaction Structure: Option agreement to acquire 100% interest in the Muriel-Marr Project.
• Property Details: 403 unpatented mining claims spanning ~8,287 hectares, located 85 km north of the Equinox Gold Greenstone Mine within the Tashota-Onaman Greenstone Belt.
• Cash Consideration: Aggregate $120,000 payable to Optionors over a three-year period.
• Equity Consideration: Aggregate 1,500,000 common shares to be issued to Optionors over three years.
• Expenditure Requirement: $161,200 in qualifying expenditures on the project within two years; failure to meet this triggers a mandatory $161,200 cash payment to Optionors.
• Royalty Terms: 2% Net Smelter Returns (NSR) royalty granted to Optionors, with an option to buy down to 1% for a $1,000,000 cash payment.
• Finder's Fees: 238,888 common shares issued to a finder at a deemed price of $0.135 per share.
• Regulatory & Listing: Transaction subject to CSE approval; all issued securities subject to a 4-month-1-day statutory hold period.
• Historic Mineralization & Assays:
• Holland-Chellew Occurrence: Up to 12% Cu, 3 g/t Au, 185 g/t Ag, 33% Pb, 5.7% Zn.
• J.J. Perry Trench: Up to 16.22% Cu, 221.5 g/t Ag; later sampling returned 2.11% Cu, 125 ppb Au, 857 ppm Co, 1.53% Cu, 1,185 ppm Co.
• Kindle Trench: Up to 4.23% Cu, 3.88 g/t Au, 43.1 g/t Ag.
• Galena Vein Trench: 5.8% Zn, 52.1 g/t Ag, 0.34 g/t Au.
• Near-Term Exploration Plans: Relocate and ground-truth historical occurrences, prospect bedrock sources of 2022 gold-in-soil anomalies, follow up on an 8 km strike-length EM conductor trend, and evaluate tourmaline-bearing pegmatites for LCT mineralization (potential spin-out/JV).

Notable Quotes

• "The Muriel-Marr Project which is over 8200 hectares has true district scale potential," stated Arndt Roehlig, President & CEO of Advanced Gold. "The Company has increased its asset portfolio in Ontario to 3 distinct projects."
• "Muriel-Marr represents the type of overlooked, district-scale opportunity we focus on identifying in Ontario — a large, underexplored land package with strong historical showings, compelling geophysical targets, and meaningful upside across copper, gold, silver, zinc, and critical minerals," said Jace Angell, President of Last Resort.