Vancouver, British Columbia--(Newsfile Corp. - May 12, 2026) - Advanced Gold Exploration Inc. (CSE: AUEX) (FSE: ZF2) (OTCQB: AUHIF) ("Advanced Gold" or the "Company") is pleased to announce the successful completion of its spring mapping and sampling reconnaissance program at the company 100% owned Silver Belle Project in Nevada (the "Silver Belle Project").

The Silver Belle Project covers approximately 2,000 acres and hosts documented historical production, including a 1937 smelter shipment that returned approximately 1,611 grams per tonne (g/t) silver (47 ounces per ton (oz/t)), 37% lead, 10% zinc, 1% copper and 0.3% antimony from underground workings. These grades represent smelter-run ore, not selective surface samples, and are indicative of high-grade polymetallic mineralization within the system.

The Company has dispatched 87 rock chip and grab samples to an independent, accredited laboratory for geochemical analysis.

The primary purpose of this program is to re-establish and validate historic mineralization - including silver, antimony, tungsten, lead and zinc - identified within previous production workings and historic prospect pits. This metal assemblage is consistent with vertically zoned carbonate replacement deposit ("CRD") systems and may indicate proximity to higher-temperature portions of the mineralizing environment. The reported presence of tungsten mineralization on the property further supports a higher-temperature component to the system, commonly associated with intrusive-related mineralization in CRD environments.

By integrating historical data with modern geochemical results, the Company aims to confirm and better define the extent of a CRD system across the property. These findings will be instrumental in developing high-priority Phase 2 drill targets for subsequent exploration programs.

Samples were collected at the historically important Phillipsburg and Silver Bell mines, as well as more than 20 smaller mines and mineral prospects developed throughout the property. The Phillipsburg Mine is historically the most significant working on the property and consists of several hundred metres of underground development. A moderately dipping mineralized horizon saw significant historical production above and below the main access level along bedding-controlled CRD mineralization. The mineralized horizon remains open down-dip and along strike, providing an immediate exploration target for future drilling.

The exploration team was also able to directly access portions of the historic underground workings, allowing for in-situ geological observations and targeted sampling of mineralized structures and alteration zones.

A second style of mineralization consists of quartz veining and associated silicification containing sulfide mineralization including galena, sphalerite and stibnite (antimony sulfide). Quartz veins occur both parallel and transverse to layering within the sedimentary rock sequence. The style of mineralization shares characteristics commonly associated with CRD systems elsewhere in the Eureka District, including at the Ruby Hill deposit located approximately 55 kilometres southwest of the Silver Belle Project.

The recently completed field program focused on cataloguing historic mineral occurrences across the property while identifying newly recognized target areas and historically underexplored zones within the Company's land package. The exploration team concentrated on:

• Structural Mapping: Identifying key mineralized corridors and shear zones that may host high-grade precious- and base-metal mineralization.
• Target Generation: Systematically evaluating the property to refine targets and coordinates for the upcoming 2026 diamond drilling campaign.
• Sample Selection: 87 samples were selected based on the presence of hydrothermal alteration, quartz veining, silicification and visible sulfide mineralization consistent with the Company's exploration model.

"Completing this reconnaissance phase is a vital step in our 2026 exploration strategy," stated Arndt Roehlig, President and CEO. "The ability to directly access historic underground workings and apply modern geological interpretation to a past-producing CRD-style system is highly encouraging. We look forward to receiving assay results and advancing toward drill targeting across the project."

Following the recent agreement with ProDeMin USA LLC, the program is being conducted under the direction of Dr. Craig Gibson, a designated Qualified Person ("QP"). This field campaign marks the beginning of a comprehensive evaluation aimed at producing a fully compliant National Instrument 43-101 technical report.

The samples have been submitted for gold fire assay and multi-element ICP analysis. The Company expects to receive and release the final results as soon as available, following standard laboratory turnaround times. Data from this program will be integrated with existing geophysical surveys to finalize drill pad locations.

Qualified Person

Dr. Craig Gibson, independent QP as such term is defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, has reviewed and approved the geological information reported in this news release.

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. The recent acquisition of the Silver Belle Project in Nevada has expanded the Company's portfolio into the highly prospective Eureka District. The Company's strategy is focused on identifying and advancing undervalued properties with significant historical work and modern exploration upside.

On behalf of the Board of Directors,

Arndt Roehlig, President & CEO, Director

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/297000

Source: Advanced Gold Exploration Inc.