Mr. Arndt Roehlig reports

ADVANCED GOLD EXPLORATION ANNOUNCES OPTION ON BUCK LAKE COPPER-SILVER VMS PROPERTY, ONTARIO

Advanced Gold Exploration Inc. has entered into a definitive option agreement, dated effective May 12, 2026, with Stage Capital Corp. (SCC), pursuant to which the company has granted SCC an option to acquire a 60-per-cent interest in the company's Buck Lake project, located in the province of Ontario.

Jim Atkinson, chairman, states: "Our first order of business at the property is to fly VTEM and horizontal magnetic gradiometer geophysical survey across our three-kilometre-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-per-cent undivided interest in the property by completing the following cash payments and share issuances to the company, and incurring the following exploration expenditure commitments:

• First year commitments:
  • Making a one-time cash payment in the amount of $50,000 upon execution of the option agreement (company confirms this has been completed);
  • Issuing 400,000 common shares in the capital of SCC within 10 business days after the date on which the option shares commence trading on a recognized stock exchange;
  • Incuring a minimum of $200,000 in exploration expenditures on the property within 12 months of the effective date;
• Second year commitments:
  • A one-time cash payment in the amount of $60,000 on or before the first anniversary of the effective date;
  • Issuing 500,000 shares on or before the first anniversary of the listing date;
  • Incuring a minimum of $300,000 in additional exploration expenditures on the property on or before the second anniversary of the effective date;
• Third year commitments:
  • A one-tie cash payment in the amount of $80,000 on or before the second anniversary of the effective date;
  • Issuing 600,000 shares on or before the second anniversary of the listing date;
  • Incurring a minimum of $450,000 in additional exploration expenditures on the property on or before the third anniversary of the effective date.

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 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-per-cent interest in the property. At such time, Advanced Gold and SCC will form an unincorporated joint venture with an initial participating interest of 60 per cent SCC and 40 per cent Advanced Gold. SCC will act as the initial operator of the joint venture. Each party will thereafter be required to finance its proportionate share of approved programs and budgets. If either party's participating interest is diluted below 10 per cent, its interest will automatically convert into an additional 1-per-cent net smelter return (NSR) royalty.

The completion of the transaction contemplated by the option agreement remains subject to the approval of all regulatory and other approvals, including the approval of the Canadian Securities Exchange.

About the Buck Lake property

The fully permitted Buck Lake property consists of 180 single-cell mining claims covering approximately 3,886 hectares in the Lunkie and Gapp townships within the Batchewana greenstone belt, located roughly 50 kilometres northeast of Sault Ste. Marie, Ont. The property hosts a classic volcanogenic massive sulphide (VMS) copper-zinc-silver system characterized by a highly prospective 3,000-metre-long electromagnetic corridor. Diamond drilling programs executed by the company between 2022 and 2025 successfully intersected massive and semi-massive sulphide mineralization in 13 out of 15 holes. Notable historical intersections include discovery hole BL-22-05, which returned 1.51 per cent copper (Cu) and 18.2 grams per tonne (g/t) silver (Ag) over 11.75 metres, including a high-grade core of 4.59 per cent Cu and 54.6 g/t Ag over 3.2 metres (1). Historical localized sampling on the acreage has yielded peak values reaching up to 15 per cent copper and 15 per cent zinc.

About Advanced Gold Exploration Inc.

Advanced Gold Exploration is a Canadian mineral exploration company with a portfolio of Canadian gold and copper properties, primarily the Doyle and Buck Lake properties in Ontario. 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 and shareholders.

Qualified person

James Atkinson, MSc, PGeo, a qualified person as such term is defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects), has reviewed and approved the geological information reported in this news release. The qualified person has not completed sufficient work to verify all historic information on the property, particularly with regard to historical sampling, drill results and technical work provided by Noranda and others. The qualified person assumes that sampling and analytical results were completed to industry standard practices. The information provides an indication of the exploration potential of the property but may not be representative of expected results.

(1) Technical report, entitled "NI 43-101 Independent Technical Report on the Buck Lake Property for Advanced Gold Exploration Inc.," with an effective date of Sept. 28, 2023, prepared by Michael Kilbourne, PGeo.

We seek Safe Harbor.