Mr. James Atkinson reports

ADVANCED GOLD EXPLORATION ANNOUNCES COMPLETION OF DEBT SETTLEMENT

Further to its press release of Oct. 2, 2024, Advanced Gold Exploration Inc. has settled an aggregate of $144,950 of indebtedness to an arm's-length creditor of the company through the issuance of 2,899,000 common shares in the capital of the company at a price of five cents per common share. The common shares issued pursuant to the debt settlement are subject to a four-month hold period.

About Buck Lake

The property is located approximately 62 linear kilometres northeast of Sault Ste. Marie in the province of Ontario. The property consists of a total of 180 single-cell mining claims that covers 3,886 hectares located in Lunkie and Gapp townships.

The property is located in the Wawa-Abitibi subprovince within of the Superior province of Canada. The property is situated within the Batchawana greenstone belt (BGB), which comprises a small portion of the Wawa-Abitibi subprovince. The BGB is an arcuate-shaped, expansive belt located in the southern-central part of the Wawa-Abitibi subprovince on the eastern shore of Lake Superior. This BGB is an Archean-aged greenstone belt consisting of a thick succession of supracrustal rocks. The property is situated in the Batchawana volcanic domain, which hosts prospective sequences of felsic and mafic volcanics.

The technical report prepared by Mike Kilbourne in 2023 states that the geological environment of the property is favourable for the presence of Archean volcanogenic massive sulphide (VMS) deposits, iron deposits and orogenic gold deposits, namely banded-iron-formation-hosted (BIF) gold deposits due to the fact that BIFs are present on the property. The focus of exploration has historically been on VMS-type deposits, but other deposit model types should not be dismissed.

The property contains at least eight areas of potential based on the presence of base metal mineralization based on historical or recent activities, including areas of copper and zinc mineralization.

An extensive stripping and channel sampling program over one of the zones in (the Noranda trend) in 2022 identified several mineral horizons and provided invaluable clues to the geological environment of copper-zinc mineralization. Highlights of the channel sampling include 4.94 per cent zinc, 367 parts per million copper, 0.77 per cent lead and 45.6 grams per tonne silver over one metre at trench G and less than 0.01 per cent zinc, 1.58 per cent copper and 27.4 grams per tonne silver over 1.1 metres.

These programs were followed up by diamond drilling in 2022 consisting of 15 diamond drill holes totalling 2,545 metres. The objective of the drilling was to test sulphide mineralization documented on surface at depth and along strike of the Noranda trend. The VLF (very-low-frequency) anomalies outlined along the Noranda trend in 2022 were also tested.

Highlights of the drill program include 1.51 per cent over 11.75 metres in hole BL-22-06 and 2.38 per cent copper over 2.95 metres in hole BL-22-15.

The success of this program prompted the expansion of the property to cover known airborne anomalies and other areas of past drilling, which had identified base metal mineralization.

Jim Atkinson, chief executive officer of Advanced Gold Exploration, noted: "The author of the [National Instrument] 43-101 technical report has reviewed the available information on the property and has stated in the report, 'The following salient features of the Buck Lake property makes this a property of high merit for VMS-type copper-zinc deposits:

1. "A greenstone belt hosting supracrustal Archean-aged rocks within the metal endowed Wawa-Abitibi subprovince;
2. "A geological environment consistent with other VMS deposits of the Wawa-Abitibi subprovince, which includes felsic to intermediate volcanics, dacitic flows, tuffs and breccias and sediments in an extensional arc environment;
3. "Confirmed copper-zinc-bearing massive sulphide mineralization in surface channel sampling and diamond drilling;
4. "Copper-zinc-bearing plus or minus massive pyrite/pyrrhotite mineralization stratigraphically proximal to cherty exhalative horizons and BIF;
5. "Limited modern-day VMS-deposit model exploration.'

"This is very positive for the project. The author of the technical report goes on to say, 'It is of the author's opinion that the property be continued to be explored for VMS-type massive sulphide deposits as indications are favourable for success.'"

About Melba

The Melba property is the site of a former gold mine in the Kirkland Lake area of Ontario that operated in the early 1900s and has a non-NI 43-101 resource of approximately 50,000 ounces of gold in underground workings. The mineralization comprises a series of northwest-trending gold-bearing quartz veins. The project has been sampled and drilled by Advanced Gold Exploration (see press release dated March 6, 2023) with gold in quartz veins and disseminated sulphide mineralization being confirmed. The known mineralization, which is exposed in an outcropping surrounded by swamp, has not been explored to the north or south.

About Doyle

The Doyle property is a Hemlo lookalike in the Batchewana greenstone belt of Northern Ontario. Past drilling has encountered up to 42 grams per tonne gold in quartz veins and disseminated pyrite zones. Over 37 drill holes and extensive IP (induced polarization) and mapping have been undertaken on the property by past explorers, but the gold intersections have not been fully explored by modern methods. Recent EM (electromagnetic) and lidar surveys have pointed to potential shear zones associated with some of the gold zones. These form compelling targets for exploration.

About Advanced Gold Exploration Inc.

Advanced Gold Exploration (formerly Advance United Holdings Inc.) brings an entirely different approach to the mining industry. The company does not mine. Rather, the company has acquired a portfolio of undervalued gold properties and is increasing their value through the application of modern technology. Advanced Gold Exploration has a growing pipeline of similar properties that it is looking to acquire. The company is involved exclusively in the acquisition and advancement of past projects -- with no intent to bring them back into production or to mine them itself. Advanced Gold Exploration's expertise is in identifying and acquiring undervalued properties with significant historical work, which were uneconomic at the time but the company believes have economic value at today's prices. Advanced Gold Exploration finances the reworking historic data and applying modern technology to underwrite new qualified reports and document quantifiable resources and reserves to current standards, thereby recognizing the current value. Advanced Gold Exploration's purpose is to bring immediate and long-term value to the company's partners and shareholders while seeking to eliminate exploration risk so that all parties can advance in the shortest possible time frame.

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 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.

We seek Safe Harbor.