Advanced Gold Reports The Sale of its Melba Gold Property for Cash and Shares

Toronto, Ontario--(Newsfile Corp. - September 26, 2025) - Advanced Gold Exploration Inc. (CSE: AUEX) ("AUEX" or the "Company") is pleased to announce that on September 22, 2025, the Company and Heritage Mining Ltd. (the "Purchaser") entered into an asset purchase agreement (the "Agreement") pursuant to which the Company agreed to sell the Purchaser (the "Proposed Transaction") it's 75% legal and beneficial interest in several mineral claims comprising the Melba property (the "Property").

As consideration for the Property, the Company shall receive: (i) CAD$50,000 payable in cash, for technical services, over a period of 12 months (being equal installments of CAD$4,166.67); and (ii) such number of common shares in the capital of the Purchaser (the "Consideration Shares") equal to CAD$350,000, issuable to the Company in four equal tranches.

Completion of the Proposed Transaction contemplated by the Agreement remains subject to the Purchaser completing due diligence on the Property, the approval of all regulatory and other approvals, including the approval of the Canadian Securities Exchange.

Mr. Jim Atkinson, CEO of AUEX commented, "We are excited to become a large shareholder of Heritage Mining through the sale of our interest in the Property. We are confident that the management of the Purchaser have the funds and the expertise to advance the project. The Purchaser also has large land holdings in Northwestern Ontario with potential for gold mineralization and we are convinced that the Company will benefit from the advancement of these grounds as well as the continued exploration of the Property. The signed agreement gives the Company immediate cash and shares and will also result in future share issuance which can be used in a non-dilutive way to advance the Company."

About the Property

The land package is located on a major geological feature in the Timmins- Kirkland Lake Camp and is on strike with McEwan Gold's Black Fox and the former Ross Mine.

Figure 1 Location of Melba Property NW of Kirkland Lake

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8072/268157_93ef891124847a7f_001 ...

The Melba Mine development commenced in 1936 and ceased on the declaration of World War II. Nordex Explosives funded work on the property and gained ownership of 16 patent claims including the mine site. Nordex Explosives was acquired by EPC Canada a large explosive company from Europe. On the 01 June 2020 the patents were posted for staking as no work or lease payments had been completed except for lease 109680 totaling 5 claims including the mine workings which is in good standing until 2036.The lease was purchased from EPC Canada which includes a 2% NSR which may be purchased in full for $ 500,000.00. Mr. Patrick Culhane presently holds 76 claims on strike, contiguous including the mine site.