Mr. James Gillis reports
James T. Gillis, of 432 Royal Ave.,
Kamloops, B.C., has disposed of, through the facilities of the TSX Venture
Exchange, indirect ownership of 425,000 common shares in the capital of Advance Gold Corp.,
decreasing the percentage of common shares held by approximately 4.05 per cent. The common shares
were disposed of at a per-share price of 11.5 cents for gross cash consideration to the Mr. Gillis of
$48,875.
This press release is being issued pursuant to National Instrument 62-104 (takeover bids and issuer
bids) and National Instrument 62-103 (the early warning system and related takeover bid
and insider reporting issues).
Immediately before the transaction that triggered the requirement to issue this release, Mr. Gillis
owned, directly and indirectly, a total of 1,726,800 common shares of the issuer, representing
approximately 16.46 per cent of the issuer's issued and outstanding common shares, and owned options
entitling the purchase of 110,000 common shares of the issuer, or, assuming exercise of the
options, a total of 1,836,800 common shares, or approximately 17.33 per cent of the issuer's common
shares, on a postconversion beneficial ownership basis.
Immediately after the transaction that triggered the requirement to issue this release, Mr. Gillis
owns, directly and indirectly, a total of 1,301,800 common shares of the issuer, representing
approximately 12.41 per cent of the issuer's issued and outstanding common shares, and owns options
entitling the purchase of 110,000 common shares of the issuer, or, assuming exercise of the
options, a total of 1,411,800 common shares, or approximately 13.32 per cent of the issuer's common
shares, on a postconversion beneficial ownership basis.
The shares were disposed of for investment purposes, and Mr. Gillis will evaluate his investment
in the issuer and will increase or decrease his investment by future acquisitions or dispositions of
securities of the issuer at his discretion, as circumstances warrant. As of the date hereof, Mr.
Gillis has no immediate future intention to acquire additional securities of the issuer or dispose
of securities of the issuer that he beneficially owns or over which he exercises control or
direction. Mr. Gillis may, in the future, exercise options that have been granted to him by the
issuer.
A report respecting this acquisition, which is incorporated herein by reference, will be
electronically filed with the securities commissions in British Columbia and Alberta and will be
available for viewing through the Internet on SEDAR. To obtain a copy of the report, contact Mr.
Gillis at 250-574-5011.
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