Mr. Allan Laboucan reports

ADVANCE GOLD CLOSES PRIVATE PLACEMENT

Advance Gold Corp. has filed documents with the TSX Venture Exchange to close its previously announced private placement financing (see July 20 and July 22, 2020, news releases). Subject to the receipt of all regulatory approvals, the company will issue 7.2 million units, with each unit consisting of one common share and one common share purchase warrant, with each warrant being exercisable at 12 cents for 24 months, for gross proceeds of $720,000. Proceeds from the financing will be used to finance drilling at the Tabasquena project, located near Ojocaliente, Mexico, and for general corporate purposes.

All securities issued pursuant to the financing will be subject to a four-month-plus-one-day hold. Finders' fees will be paid to certain finders, in accordance with TSX-V policies.

We seek Safe Harbor.