Mr. Arndt Roehlig reports

ADVANCED GOLD SIGNS MOU TO ACQUIRE CORCORAN SILVER GOLD PROPERTY WITH HISTORICAL INFERRED SILVER RESOURCE

Advanced Gold Exploration Inc. executed a memorandum of understanding on Sept. 30, 2026, with Ameerex Corp. Under the MOU, the company will assume Ameerex's rights and obligations to acquire 100 per cent of North American Silver Corp. and, indirectly, Centennial Mining from Electric Metals (USA) Ltd. NAS and CM own the Corcoran Canyon silver-gold property and the Belmont properties in Nye county, Nevada. The acquisition of NAS and CM is referred to as the transaction. The MOU is non-binding, and the transaction remains subject to the negotiation and execution of definitive agreements.

Corcoran Canyon is a low-sulphidation epithermal silver-gold system on the eastern edge of the Toquima range, northeast of Tonopah, Nev. Mineralization at the Silver Reef zone, a northeast-trending zone about 300 metres wide and one kilometre long, remains open laterally and at depth. Historical metallurgical testing returned overall silver recovery of 76.6 per cent by flotation and cyanidation. Three additional targets (West, Intrusions and Pediment) warrant further evaluation.

"This acquisition represents an opportunity for Advanced Gold. Ameerex Corp. will be a strategic shareholder in AUEX and is committed to assisting advancing the Corcoran and Belmont properties," said Shahab Samimi, director. "Corcoran Canyon and Belmont have a historic resource of approximately 39 million ounces of inferred silver equivalent, according to the last 43-101 filed by EML. We also are very attracted to the fact it is in an established top-tier mining jurisdiction, and our goal will be to advance the project from inferred to indicated and expand the known mineralization."

Historical mineral resource estimate

A technical report prepared in accordance with National Instrument 43-101 for EML by G. Mosher, PGeo, MSc, and D. Smith, PGeo, MS, of Global Mineral Resource Services Ltd., with an effective date of Oct. 12, 2020, presents a historical inferred mineral resource estimate for the Silver Reef zone. The pit-constrained estimate, at a 20 grams per tonne silver equivalent cut-off, is 31.5 million tonnes at 39 g/t AgEq (21 g/t silver and 0.23 g/t gram), containing approximately 39.0 million ounces AgEq. The underground estimate, at a 100 g/t AgEq cut-off, is 175,000 tonnes at 122 g/t AgEq, containing approximately 700,000 ounces AgEq, for a combined total of approximately 39.7 million ounces AgEq. AgEq was calculated using $17 (U.S.) per ounce silver and $1,460 (U.S.) per ounce gold.

The estimates are classified as inferred because of the limited availability of quality assurance/quality control data. A qualified person has not done sufficient work to classify them as current mineral resources, and the company is not treating them as current mineral resources. Significant data validation, including twin drilling, would be required to verify them. The company considers the historical estimate relevant as an indication of the exploration potential of the Silver Reef zone; however, its reliability has not been verified, and the company is not aware of any more recent estimate. The report recommends a two-phase program of confirmation and expansion drilling.

Transaction consideration

Pursuant to the MOU, the company intends to acquire Ameerex's rights and interests relating to the proposed acquisition of the Nevada properties. The company expects to assume remaining cash obligations of approximately $3.4-million (U.S.) payable to the underlying vendor, subject to the terms of the applicable acquisition agreements, including approximately $1.2-million (U.S.) required on or before Oct. 31, 2026, and a further approximately $2.2-million (U.S.) thereafter.

In consideration of amounts previously advanced by Ameerex in connection with the Nevada properties, the company expects to issue 4,045,500 common shares to Ameerex at a deemed price of 12 cents per share, subject to Canadian Securities Exchange acceptance.

Strategic financing

The company has entered into discussions with an arm's-length Qatari investment group regarding a proposed non-brokered private placement of approximately $1.2-million (U.S.), expected to be completed through the issuance of common shares of the company at a price of 15 Canadian cents per share. Each common share issued in connection with the proposed financing is expected to be accompanied by one common share purchase warrant, exercisable at 20 cents per common share for a period of two years from issuance.

Subject to definitive documentation and applicable approvals, the investor group has indicated its intention to provide a further investment of up to $2.5-million (U.S.). The terms, structure and timing of any additional investment have not been finalized, and there can be no assurance that it will be completed.

Subject to applicable laws and the policies of the CSE, the company expects that proceeds from the proposed financing will be used to satisfy acquisition-related obligations, to finance due diligence and initial exploration planning on the Nevada properties, and for general working capital purposes.

Finders' fees may be payable to eligible arm's-length finders in connection with the transaction and/or the proposed financing in accordance with the policies of the CSE and applicable securities laws.

Completion of the transaction

Completion of the transaction remains subject to the negotiation and execution of definitive agreements, the payments described above, CSE acceptance, and other customary conditions. There can be no assurance that the transaction or the proposed financing will be completed on the terms described, or at all.

The company has also completed an agreement to terminate its arrangements relating to the Muriel Marr project in Ontario. The termination is intended to allow the company to focus its resources on its core exploration priorities and prospective strategic opportunities.

Qualified person

Jim Atkinson, 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 QP has not verified the historical information, including the historical estimate, referred to in this news release. Mr. Atkinson is not independent of the company. The information provides an indication of the exploration potential of the property but may not be representative of expected results.

About Advanced Gold Exploration Inc.

Advanced Gold is a Canadian mineral resource company dedicated to generating immediate and long-term stakeholder value through strategic asset acquisition. The company specializes in identifying and securing undervalued gold, silver and copper properties with substantial historical data. By leveraging modern exploration techniques, Advanced Gold aims to systematically upgrade and unlock the economic potential of its core assets, which include the Doyle and Buck Lake projects in Ontario, and the Silver Belle property in Nevada.

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