Mr. Jim Atkinson reports

ADVANCED GOLD EXPLORATION INC. ANNOUNCES PRIVATE PLACEMENT

Advanced Gold Exploration Inc. has arranged a concurrent non-brokered private placement in addition to the financing announced Nov. 27, 2023.

The concurrent financing will consist of up to two million units at a price of five cents per unit for aggregate gross proceeds of up to $100,000. Each unit shall comprise one common share in the capital of the company and one common share purchase warrant. Each warrant shall entitle the holder thereof to acquire one common share at a price of five cents per common share for a period of five years from the date of issuance.

The company has also amended the terms of its previously announced non-brokered private placement. The offering will consist of up to 16,666,666 flow-through units at a price of three cents per FT unit for aggregate gross proceeds of up to $500,000.

Each FT unit shall comprise one common share, issued on a flow-through basis, and one common share purchase warrant, issued on a non-flow-through basis. Each FT warrant shall entitle the holder thereof to acquire one common share at a price of five cents per common share for a period of five years from the date of issuance. The FT shares will qualify as flow-through shares within the meaning of Subsection 66(15) of the Income Tax Act (Canada), which also qualify for the Canadian government's Critical Mineral Exploration Tax Credit. The company may pay finders' fees in accordance with the rules and policies of the Canadian Securities Exchange.

All securities issued pursuant to the offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The gross proceeds from the sale of the FT units will be used by the company to incur eligible Canadian exploration expenses that will qualify as flow-through critical mineral mining expenditures as such terms are defined in the Income Tax Act (Canada). The gross proceeds from the sale of the units will be used for general working capital purposes.

The closing of the offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the Canadian Securities Exchange.

Jim Atkinson, chief executive officer of Advanced Gold, remarks: "We have received inquiries about equity financing and requests to extend the time for the warrants. We have made these changes to accommodate potential shareholders. As mentioned in our earlier press release the funds will be used to further explore our Melba and Doyle gold projects and for general corporate expenditures related to the financing."

In addition, the company announces that further to its press releases of July 26, 2022, Sept. 28, 2022, and June 20, 2023, it has entered into a second amending agreement dated Nov. 28, 2023, with Patrick Culhane (the optionor) to amend certain option payment terms of the original option agreement dated June 21, 2021, as amended on June 16, 2023, to acquire a 75-per-cent legal and beneficial interest in certain mineral claims located in Melba township in the Kirkland Lake Area of Ontario.

Pursuant to the amending agreement, the company must make a cash payment of $25,000 on or before Dec. 21, 2023, and issue 1.5 million common shares in the capital of the company on or before Dec. 21, 2023, to the optionor in order to exercise the option. In consideration for entering into the amending agreement, the company will issue 500,000 common shares in the capital of the company at a deemed value of seven cents per common share. All securities issued in connection with the amending agreement will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The completion of the transaction remains subject to all regulatory and other approvals, including the approval of the Canadian Securities Exchange.

About Melba property

The Melba property is the site of a former gold mine in the Kirkland Lake Area of Ontario which operated in the early 1900s and has a non-National Instrument 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 (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 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 and lidar (light detection and ranging) 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. The company has a growing pipeline of similar properties that it is looking to acquire. Advanced Gold Exploration 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 applies modern technology to underwrite new qualified reports, 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 its partners and shareholders while seeking to eliminate exploration risk so that everyone can all advance in the shortest possible time frame.

Qualified person

James Atkinson, MSc, PGeo, a qualified person (QP) 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 regards 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.