Mr. Arndt Roehlig reports

ADVANCED GOLD EXPLORATION STRIKES OPTION DEAL ON MAJOR 8,287-HECTARE COPPER-GOLD-ZINC PROJECT

Advanced Gold Exploration Inc. has entered into an option agreement dated June 23, 2026, with each of Bounty Gold Corp. and Last Resort Resources Ltd., pursuant to which the company was granted an option to acquire the Muriel-Marr project in the Thunder Bay North district of Northwestern Ontario. The total land package comprises 403 unpatented mining claims spanning approximately 8,287 hectares.

Located 85 kilometres north of Equinox Gold's Greenstone mine, the Muriel-Marr project is a district-scale, road-accessible exploration project covering approximately 25 kilometres of prospective volcanic stratigraphy along a subprovince boundary within the Tashota-Onaman greenstone belt. The belt is known to host VMS (volcanogenic massive sulphide) and hydrothermal, gold-bearing systems. Iamgold Corp. is advancing the nearby past-producing Louanna gold mine. Kenorland Minerals has also recently staked a large, directly adjoining land position, increasing support of near-term regional exploration activity and news flow. The company cautions investors that mineralization hosted on nearby or adjacent properties is not necessarily indicative of mineralization hosted on the Muriel-Marr project.

The Muriel-Marr project was originally staked to cover large (200-metre-by-600-metre) mapped tourmaline-bearing pegmatites hosted in mafic volcanics near a peraluminous granite -- a geological setting analogous to discoveries that the optionors the NWOPA Discovery of the Year awards in 2023 and 2024.

More recently, the optionors have staked additional adjoining claims as they have come available, expanding Advanced Gold's original property considerably to capture multiple historic high-grade copper, gold, silver and zinc occurrences associated with several EM (electromagnetic) conductor trends, up to approximately eight kilometres in strike length.

The multicommodity potential provides the company with exposure to several deposit styles and commodities, which the company believes enhances project optionality and diversifies overall exploration risk typically associated with greenfield projects.

Mineralization styles documented:

• Skarn and contact-related sulphide mineralization with high-grade copper/gold/silver;
• VMS-style polymetallic mineralization associated with felsic-mafic volcanic contacts and strong EM conductors.

Key historic showings and assays:

• Holland-Chellew occurrence: historic trenching (early 1900s) exposed massive sulphides; assays reported up to 12 per cent copper, three grams per tonne gold, 185 grams per tonne silver, 33 per cent lead and 5.7 per cent zinc (Kindle, 1932); not relocated by previous operators'
• J.J. Perry trench: historic values up to 16.22 per cent copper and 221.5 grams per tonne silver (Kindle, 1932); later sampling returned 2.11 per cent copper, 125 parts per billion gold, 857 parts per million cobalt and 1.53 per cent copper with 1,185 parts per million cobalt (Carter, 2001);
• Kindle trench: assays up to 4.23 per cent copper, 3.88 grams per tonne gold and 43.1 grams per tonne silver (Kindle, 1932; confirmed by Noronex, 2018);
• Galena vein trench: 5.8 per cent zinc, 52.1 grams per tonne silver and 0.34 gram per tonne gold (Eveleigh, 1994).

All of the grades and intervals reported above are historic in nature, derived from work completed by previous operators and government geologists. They have not been independently verified by Advanced Gold Exploration or its qualified person and are reported here only as an indication of the exploration potential of the area. They may not be representative of mineralization that could be identified on the Muriel-Marr property.

Recent work

Noronex Ltd. (2018 to 2022) confirmed base and precious metal mineralization at the J.J. Perry, Kindle and Galena trenches, validating the historic data and confirming modern exploration relevance.

Near-term catalysts:

• Relocate and ground-truth the Holland-Chellew and other historical occurrences;
• Prospect for bedrock source of nearby gold-in-soil anomalies identified in 2022;
• Follow up on the eastern and western extensions of the eight-kilometre conductor trend hosting multiple known sulphide occurrences;
• Evaluate tourmaline-bearing pegmatites in the eastern extent of the property for LCT mineralization (spinout/joint venture potential).

"The Muriel-Marr project, which is over 8,200 hectares, has true district-scale potential," stated Arndt Roehlig, president and chief executive officer of Advanced Gold. "The company has increased its asset portfolio in Ontario to three distinct projects. We are awaiting permits on its 100-per-cent-owned Doyle gold property. Stage Capital is finalizing plans on an airborne VTEM [versatile time-domain electromagnetic) on Buck Lake. Heritage Mining is also advancing drill results on the Melba property, which Advanced sold to Heritage Mining for $350,000 in cash and shares last December."

"We are pleased to partner with Advanced Gold on the Muriel-Marr project," said Jace Angell, president of Last Resort. "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."

"Bounty is excited to see Muriel-Marr advanced by a public exploration company with the ability to move the project forward," said Jason Leblanc of Bounty. "The property has the scale, geological setting and historical high-grade mineralization that attracted us to the area, and we believe AUEX is well positioned to build on that foundation through systematic modern exploration."

In accordance with the terms of the option agreement, the option shall be exercised by the company and the company shall acquire the Muriel-Marr project, upon completion of the following:

1. Making an aggregate of $120,000 in cash payments to Bounty and Last Resort in accordance with their pro rata interest, over a period of three years;
2. Issue an aggregate of 1.5 million common shares in the capital of the company to Bounty and Last Resort, in accordance with their pro rata interest, over a period of three years;
3. Incur an aggregate of $161,200 in qualifying expenditures on the Muriel-Marr project; in the event that the company does not incur the qualifying expenditures on the Muriel-Marr project on or before the second anniversary of the option agreement, the company must make a cash payment in the amount of $161,200 to Bounty and Last Resort in accordance with their pro rata interest.

In addition, in connection with the transaction contemplated by the option agreement, the optionors, in accordance with their pro rata interest, will be entitled to a 2-per-cent net smelter return royalty. The company has the option to purchase the royalty (reducing the royalty to 1 per cent) by making a cash payment to the optionors, in accordance with their pro rata interest in the amount of $1-million. In addition, in connection with the transactions contemplated by the option agreement, the company has agreed to issue an aggregate of 238,888 common shares to a finder as finders' fees, at a deemed issuance price of 13.5 cents per common share.

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. All securities issued pursuant to the option agreement will be subject to a statutory hold period of four months and one day from the issuance thereof, as applicable, in accordance with applicable securities laws.

About Advanced Gold Exploration Inc.

Advanced Gold is a Canadian mineral exploration company with a portfolio of Canadian gold and copper properties, primarily the Doyle and Buck Lake Ontario properties. 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 technical information reported in this news release. The qualified person has not completed sufficient work to verify all historic information on the property, particularly historical sampling, drill results and other technical work provided by Noranda and previous operators. The qualified person assumes that historical 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.