Vancouver, British Columbia--(Newsfile Corp. - July 2, 2026) - ADVANCED GOLD EXPLORATION INC. (CSE: AUEX) (FSE: ZF2) (OTCQB: AUHIF) ("AUEX" or the "Company") is pleased to announce that, further to its press release of June 23, 2026, it has issued an aggregate of 400,000 common shares (each, a "Common Share") in the capital of the Company pursuant to option agreement (the "Option Agreement") dated June 23, 2026 with each of Bounty Gold Corp. ("Bounty") and Last Resort Resources Ltd. ("Last Resort" and together with Bounty, the "Optionors"), pursuant to which the Company was granted an option (the "Option") to acquire the Muriel-Marr Project in the Thunder Bay North district of northwestern Ontario (the "Muriel-Marr Project"). The total land package comprises 403 unpatented mining claims spanning approximately 8,287 hectares in a proven mining district that hosts multiple advanced exploration and development-stage projects. The Common Shares were issued as partial consideration for the exercise of the Option and marks an important step in consolidating a district-scale position with potential for multiple discovery targets.

In addition, in connection with the transactions contemplated by the Option Agreement, the Company has issued an aggregate of 238,888 Common Shares to certain finders as finder's fees, at a deemed issuance price of $0.135 per Common Share. The Company believes the participation of experienced prospectors and finders with a track record of identifying new opportunities in Ontario adds valuable local expertise and enhances the technical foundation of the Muriel-Marr exploration program.

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
Advanced Gold Exploration 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. Visit www.advancedgoldexploration.com for more information.

www.advancedgoldexploration.com

(CSE: AUEX) (OTCQB: AUHIF) (FSE: ZF2)

Forward-Looking Information: This news release contains "forward-looking information or statements" within the meaning of applicable Canadian securities laws. These statements include, but are not limited to, statements regarding the completion of future earn-in milestones, listing timelines for SCC, planned exploration programs, potential joint venture formations, and future operational activities. Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those anticipated, including resource exploration hazards, changes in mineral prices, access to capital, and general regulatory or exchange approval timelines. The Company undertakes no obligation to update forward-looking statements except as required by law.

Forward-Looking Information and Cautionary Statements

This news release may contain "forward-looking information" within the meaning of applicable securities laws relating to the trading of the Company's securities and the focus of the Company's business. Any such forward-looking statements may be identified by words such as "expects", "anticipates", "intends", "contemplates", "believes", "projects", "plans" and similar expressions. Forward-looking statements in this news release include statements regarding the Company's ability to increase the value of its current and future mineral exploration properties and, in connection therewith, any long-term shareholder value, the Company's ability to mitigate or eliminate exploration risk, and the Company's intention to develop a portfolio of historic gold properties. Readers are cautioned not to place undue reliance on forward-looking statements. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the Company will continue its business as described above. Readers are encouraged to refer to the Company's annual and quarterly management's discussion and analysis and other periodic filings made by the Company with the Canadian securities regulatory authorities under the Company's profile on SEDAR+ at www.sedarplus.ca. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances or actual results unless required by applicable law.

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