Advanced Gold Signs MOU to Acquire Corcoran Silver-Gold Property

Advanced Gold Exploration Inc. has entered into a memorandum of understanding (MOU) with Ameerex Corporation to acquire 100% of North American Silver Corporation (NAS) and, indirectly, Centennial Mining (CM) from Electric Metals (USA) Limited. The acquisition will grant Advanced Gold control over the Corcoran Canyon Silver-Gold Property and the Belmont Properties in Nye County, Nevada.

Under the terms of the MOU, signed on September 30, 2026, Advanced Gold will assume Ameerex's rights and obligations to acquire the Nevada Properties. The transaction remains subject to the negotiation and execution of definitive agreements, as well as other customary conditions. The company expects to pay approximately US$3.4 million in cash obligations, with a portion due by October 31, 2026.

The Corcoran Canyon Silver-Gold Property is located on the eastern edge of the Toquima Range, northeast of Tonopah, Nevada. The property hosts the Silver Reef Zone, a northeast-trending zone about 300 meters wide and 1 kilometer long. Historical metallurgical testing has shown an overall silver recovery rate of 76.6% through flotation and cyanidation processes.

Advanced Gold is particularly interested in the Silver Reef Zone, which remains open laterally and at depth. The property also includes three additional targets: the West, Intrusions, and Pediment zones, which warrant further exploration. A technical report prepared in accordance with National Instrument 43-101 for Electric Metals (USA) Limited by G. Mosher, P.Geo., M.Sc., and D. Smith, P.Geo., M.S., of Global Mineral Resource Services Ltd., presents a historical inferred mineral resource estimate for the Silver Reef Zone. The report, with an effective date of October 12, 2020, indicates a pit-constrained estimate of 31.5 million tonnes at 39 grams per tonne (g/t) silver equivalent (AgEq), containing approximately 39.0 million ounces of AgEq. The underground estimate, at a 100 g/t AgEq cut-off, is 175,000 tonnes at 122 g/t AgEq, containing approximately 0.7 million ounces AgEq. The combined total of the two estimates is approximately 39.7 million ounces of AgEq.

Silver equivalent (AgEq) was calculated using US$17.00/ounce silver and US$1,460/ounce gold. The estimates are classified as inferred due to the limited availability of quality assurance and quality control (QA/QC) data. A qualified person has not verified these estimates, and the company is not treating them as current mineral resources. Significant data validation, including twin drilling, would be required to verify the estimates.

Advanced Gold aims to advance the project from inferred to indicated and expand the known mineralization. The company expects to issue 4,045,500 common shares to Ameerex at a deemed price of $0.12 per share, subject to CSE acceptance. The company has also entered into discussions with a Qatari investment group for a proposed non-brokered private placement of approximately US$1.2 million, expected to be completed through the issuance of common shares at a price of CDN$0.15 per share. Each common share issued in connection with the proposed financing is expected to be accompanied by one common share purchase warrant, exercisable at $0.20 per common share for a period of two years from issuance.

Advanced Gold Exploration Inc. is a Canadian mineral resource company dedicated to generating immediate and long-term stakeholder value through strategic asset acquisition. The company specializes in identifying and securing undervalued gold, silver, and copper properties with substantial historical data. By leveraging modern exploration techniques, Advanced Gold aims to systematically upgrade and unlock the economic potential of its core assets.