Vancouver, British Columbia--(Newsfile Corp. - April 17, 2018) - Advance Gold Corp. (TSXV: AAX) ("Advance" or "the Company") is
pleased to announce the addition of the Venaditas project a new 100% owned property, well located adjoining the claims for Teck's
San Nicholas base metals mine in Ojocaliente, Mexico. This is the second project for the company in the area, it is approximately
11km to the west of its Tabasquena silver mine where, as previously announced, drilling is underway.
Highlights of Venaditas Project
-
The Venaditas project is 2365 hectares
-
The Venaditas project has potential for VMS exploration
-
Adjoins Teck's San Nicholas Mine, a VMS deposit
-
This is a prolific region of Mexico, with several large mines within 25 mile radius
-
Nearby mines are hosted in same Tertiary volcanics as Venaditas
-
There exists a geophysical anomaly below a structural intersection at Venaditas
Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: "This is our second project near Ojocaliente.
Venaditas is approximately 11km to the west of our Tabasquena silver mine. It is also a 'shadows of a headframe project' as
it is adjacent to Teck's San Nicholas. Also, in the immediate area is Milagros and El Coronel mines, all of the mines in the area
are hosted in the Tertiary andesites. What stands out to me about Venaditas, is twofold, there are two geological structures that
come together at Venaditas, below this structural intersection is a large geophysical anomaly. This project is close to being drill
ready and we should have updates shortly on drilling this high quality exploration project."
Terms of Venaditas Acquisition
Upon receipt of regulatory approval, Advance will issue to Hot Spring Mining, a Mexican based corporation, 1,000,000 common
shares which will be subject to a statutory four-month hold period, in exchange for which Hot Spring Mining will transfer a 100%
interest in the Venaditas claims to Advance Mexico. Hot Spring Mining will retain a 2.5% NSR, of which Advance Mexico has the right
to buy 1.5% at a rate of $500k CAD per 0.50%.
Other News
Advance will issue 800,000 options at 12 cents per share to certain consultants, and advisors.
Julio Pinto Linares, PGeo, is the qualified person responsible for this release and has prepared, supervised and approved the
preparation of the scientific and technical disclosure contained within the release.
About Advance Gold Corp. (TSXV: AAX)
Advance Gold is a TSX-V listed junior exploration company focused on acquiring and exploring mineral properties containing
precious metals. The Company acquired a 100% interest in the Tabasquena Silver Mine in Zacatecas, Mexico in 2017. The Tabasquena
project is located near the Milagros silver mine near the city of Ojocaliente, Mexico. Benefits at Tabasquena include road access
to the claims, power to the claims, a 100 metre underground shaft and underground workings, plus it is a fully permitted
mine.
In addition, Advance Gold holds a 13.5% interest on strategic claims in the Liranda Corridor in Kenya, East Africa. The
remaining 86.5% of the Kakamega project is held by Acacia Mining (63% owned by Barrick Gold).
For further information, please contact:
Allan Barry Laboucan,
President and CEO
Phone (604) 505-4753
This news release contains certain statements that may be deemed "forward-looking statements. Forward looking statements are
statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans",
"anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions
"will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may
differ materially from those in forward based on the beliefs, estimates and opinions of the Company's management on the date the
statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's
beliefs, estimates or opinions, or other factors should change, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this news release.
