Mr. James Atkinson reports

ADVANCED GOLD EXPLORATION ANNOUNCES ACQUISITION OF LANDRUM GOLD PROPERTY IN SOUTH CAROLINA

Advanced Gold Exploration Inc. has acquired an option on the Landrum gold property in South Carolina from Carolina Gold Resources. The Landrum property is in the Carolina gold belt, the home of at least five past-producing gold mines and one currently producing gold mine. Oceanagold Corp.'s Haile mine in this belt has a proven and probable resources of 2.45 million ounces of gold and a measured and indicated resource of 2.98 million ounces of gold (1). The modern mine has been in production since 2017.

The Carolinas have been known to host gold deposits since the early 1800s and were the site of the first gold rush in America before California.

The Landrum project covers two known gold occurrences: Landrum and Faulkner Mountain. Both have known high-grade gold occurrences and unexplored potential.

Landrum:

• The Landrum project is situated in northern Edgefield county, South Carolina.
• The mine was mined in the 1850s, and shafting and drifting were carried out prior to the war in the late 1930s.
• Landrum was resampled and explored by Newmont in the mid-1980s, including underground sampling, soil sampling and mapping.
• The Landrum system is composed of two subparallel gold-bearing quartz veins consisting of silicified zones generally made up of 20 to 50 per cent quartz with admixed sericitized argillite containing 2 to 10 per cent pyrite with trace chalcopyrite.
• The veins vary in thickness from less than a metre to 10 metres and occur within a broad sericite-quartz-calcite-pyrite-altered shear zone in argillite.
• Landrum has a historic resource (non-National Instrument 43-101 compliant) of 424,000 tonnes at a grade of 4.82 g/t for approximately 67,400 ounces of gold.
• The principal Main vein ore shoot is open downdip and down plunge with an indicated ore occurrence of approximately 350 ounces of gold per metre of slope.
• Resource grade mineralization in the Footwall vein is generally lower; however, the higher-grade dual intercepts in DH 6 (20.09/2.1 m and 6.19/1.9 m) in the Footwall zone are open up and down plunge. The vein is open along strike to the northeast.
• The ore-hosting shear zone was traced at surface for 600 to 700 metres northeast and southwest of the mine area, and remains effectively untested away from the Main veins.

Samples collected by the company's staff on surface during a site visit returned assays between 5.9 grams per tonne and 112.0 g/t gold in grab samples. The company's qualified person has not completed sufficient work to confirm the historic resource but believes that the methodology and professionalism of the persons calculating the resource were sufficient.

Faulkner Mountain

The Faulkner Mountain property is located five kilometres southwest of Landrum. A number of 1800s-era shallow prospects with gold mineralization were located by CCR, which, prior to 2017, were untested by modern exploration. Exploration work by an optionor in 2017, under the direction of CGR, identified a new high-grade zone of gold in veins similar in style to Landrum. A significant intercept was 26.8 g/t Au over 1.5 m (vertical depth of 70 metres) from one of the three drill holes completed. This new discovery has not been followed up and is open in all directions.

Grant of option

Pursuant to an option agreement dated Sept. 29, 2023, between the company, CCR and Uwharrie Resources Inc., the company was granted an option to acquire the undivided legal and beneficial interest in the property free and clear of all charges and encumbrances.

Under the terms of the option agreement, the company may exercise the option to acquire a 100-per-cent interest in the property upon the following option payments:

1. Making cash payments in the aggregate of $260,000 to CCR in accordance with the following:
   1. $50,000 on the effective date;
   2. $60,000 on or before the first anniversary of the effective date;
   3. $70,000 on or before the second anniversary of the effective date;
   4. $80,000 on or before the third anniversary of the effective date;
2. Incurring an aggregate of $1-million in expenditures on the property, as follows:
   1. $100,000 on or before the first anniversary of the effective date;
   2. An additional $400,000 (for an aggregate of $500,000) on or before the second anniversary of the effective date;
   3. An additional $500,000 (for an aggregate of $1-million) on or before the third anniversary of the effective date;
3. Issuing CCR an aggregate of $500,000 worth of common shares in the capital of the company as follows:
   1. Such number of option shares having a value of $50,000 calculated two business days prior to the effective date using a 20-day volume-weighted average sale price (VWAP);
   2. Such number of option shares having a value of $100,000 calculated two business days prior to the first anniversary of the effective date using a 20-day VWAP;
   3. Such number of option shares having a value of $150,000 calculated two business days prior to the second anniversary of the effective date using a 20-day VWAP;
   4. Such number of option shares having a value of $200,000 calculated two business days prior to the third anniversary of the effective date using a 20-day VWAP.

Under the terms of the option agreement, in the event that the option is exercised, the company will grant a 2-per-cent net smelter return royalty in favour of the optionors.

Jim Atkinson, chief executive officer, commented: "We are pleased to add the Landrum/Faulkner Mountain project to our portfolio. These projects lie in a very prospective belt of gold deposits. The mineralization known at Landrum and the exciting high-grade drill intersection at Faulkner Mountain will be actively explored this winter, and we expect to be able to relay exciting news from these activities. We believe this acquisition is an excellent opportunity to apply our ideas and expertise to neglected and abandoned projects with the goal of bringing them, through the application of modern techniques, to the stage where they are attractive for companies to develop."

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 Carolina Gold Resources 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.

About Advanced Gold Exploration Inc.

Advanced Gold (formerly Advance United Holdings Inc.) brings an entirely different approach to the mining industry. It does not mine. Rather, it has acquired a portfolio of undervalued gold properties and is increasing their value through the application of modern technology. It has a growing pipeline of similar properties that it is looking to acquire. It 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. Its expertise is in identifying and acquiring undervalued properties with significant historical work, which were uneconomic at the time but, it believes, have economic value at today's prices. It finances the reworking of historic data and the applying of modern technology to underwrite new qualified reports and document quantifiable resources and reserves to current standards, thereby recognizing the current value. Its purpose is to bring immediate and long-term value to its partners and shareholders while seeking to eliminate exploration risk, so that they can all advance in the shortest possible time frame.

(1) Technical report commissioned by Oceanagold titled "NI 43-101 Technical Report, Feasibility Study, Haile Gold Mine, Lancaster County, South Carolina," with an effective date of Jan. 1, 2017.

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