Advanced Gold to sell Mebla property to Heritage Mining

Executive Summary

• Advanced Gold Exploration Inc. entered into an asset purchase agreement to sell its 75 % interest in the Melba gold property to Heritage Mining Ltd.
• Consideration consists of $50,000 cash (paid in equal monthly instalments over 12 months) and common shares of Heritage valued at $350,000, issued in four equal tranches.
• The transaction is subject to due‑diligence completion, regulatory approvals and CSE shareholder approval; upon closing Advanced Gold will become a large shareholder of Heritage Mining.

Key Details

• Transaction Structure: Sale of 75 % legal & beneficial interest in multiple mineral claims comprising the Melba property.
• Cash Consideration: $50,000 payable over 12 months ($4,166.67 per month).
• Equity Consideration: Common shares of Heritage Mining equal to $350,000, issued in four equal tranches.
• Closing Conditions: Completion of purchaser’s due‑diligence, all required regulatory approvals, and approval by the Canadian Securities Exchange.
• CEO Comment (Jim Atkinson): “We are excited to become a large shareholder of Heritage Mining… The signed agreement gives the company immediate cash and shares, and will also result in future share issuance, which can be used in a non‑dilutive way to advance the company.”
• Property Overview: 68 claim units + one lease in Melba township, located ~25 km north of Kirkland Lake; historic gold veins (Blue, Rolling, Mike, Contact) with historic drill intercepts up to 0.658 oz/t Au and surface assays as high as 3.7 oz/t Au.
• Historical Work: Mining commenced in 1936, ceased WWII; later owned by Nordex Explosives → EPC Canada; lease 109680 includes a 2 % NSR royalty purchasable for $500,000.
• Qualified Person Statement: James Atkinson, MSc, PGeo, qualified under NI 43‑101, reviewed the geological information but notes limited verification of historic data.

Notable Quotes

“We are excited to become a large shareholder of Heritage Mining through the sale of our interest in the property… The signed agreement gives the company immediate cash and shares, which can be used in a non‑dilutive way to advance the company.” – Jim Atkinson, CEO, Advanced Gold Exploration Inc.