Mr. Allan Laboucan reports

ADVANCE GOLD CLOSES SECOND TRANCHE OF PRIVATE PLACEMENT

Advance Gold Corp., further to news releases dated Oct. 8, 2019, and Nov. 8, 2019, has closed the second and final tranche of a non-brokered private placement of 525,000 units at a per-unit price of eight cents for gross proceeds of $42,000. Each unit comprises one common share of the company and one non-transferable share purchase warrant. Each warrant entitles the holder to purchase an additional common share at a price of 10 cents per share until Dec. 9, 2021, subject to accelerated expiry in certain circumstances.

Shares acquired by the placees are, and shares which may be acquired upon the exercise of the share purchase warrants will be, subject to a hold period until April 10, 2020, in accordance with applicable securities legislation. The proceeds of the private placement will be used by the company to advance the Tabasquena project and for general corporate purposes.

About Advance Gold Corp.

Advance Gold is a TSX Venture Exchange-listed junior exploration company focused on acquiring and exploring mineral properties containing precious metals. The company acquired a 100-per-cent interest in the Tabasquena silver mine in Zacatecas, Mexico, in 2017 and the Venaditas project, also in Zacatecas state, in April, 2018.

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