Advanced Gold Exploration Company (Private search engine: Oakes; FSE: ZF2; OTCCP: Ohhev) (“AUEX” or the “Company”) is pleased to announce that it has entered into an option agreement (“Option agreement“) dated June 23, 2026 with Bounty Gold Corp. (“Bounty“) and Last Resort Resources Ltd. (“Last resort“And with Bounty,”Options“), pursuant to which the Company was granted an option (“option“) to get Muriel Marr Project In the Thunder Bay North region of northwestern Ontario (“Muriel Marr Project“) The total land package amounts to 403 The unpatented mining claims extend over approximately 8,287 hectares.
Located 85 km north of the Equinox Gold Greenstone Mine, the Muriel-Marr Project is a district-wide, road-accessed exploration project covering approximately 25 km of potential volcanic strata along the sub-provincial boundary within the Tashota-Onaman Greenstone Belt. The belt is known to host VMS and gold-bearing hydrothermal systems. IAMGOLD Corp is developing the Louanna Gold Mine near past production. Kenorland Minerals also recently acquired a large land position immediately adjacent, further supporting near-term regional exploration activity and news flow. The company cautions investors that mineralization found on nearby or adjacent properties does not necessarily indicate mineralization hosted at the Morel Mar project.
Figure 1. Area activity map
The Muriel-Marr project was originally set up to cover large tourmaline-bearing pegmatites (200m x 600m) found in mafic volcanoes near translucent granite – a geological setting similar to the 2023 and 2024 Optionors NWOPA Discovery of the Year discoveries.
Recently, Optionors has raised additional adjacent claims as they become available, significantly expanding our original holdings to capture multiple high-grade historical Cu, Au, Ag, Zn occurrences associated with several EM conductive trends, up to ~8 km in strike length.
The Company’s multi-commodity potential provides exposure to multiple deposit and commodity styles, which the Company believes enhances project options and diversifies the overall exploration risk typically associated with new projects.
Mineralization methods are documented
- Contact-related sulphide and skarn mineralizationWith high quality Cu-Au-Ag
- VMS-style polymetallic mineralizationAssociated with felsic and mafic volcanic contacts and strong EM conductors
Key historical offers and comparisons
- The Holland-Shilo incident
Historical trenching (early 1900s) revealed massive sulphides. Reported examinations up to 12% Cu, 3 g/t Au, 185 g/t Ag, 33% Pb, and 5.7% Zn.(Kindle, 1932). It has not been transferred by previous operators. - J. Perry Trench
Historical values are up to 16.22% copper and 221.5 g/t Ag(Kindle, 1932). The samples were returned later 2.11% Cu, 125 ppb Au, 857 ppb Coand 1.53% copper with 1,185 ppm Co (Carter, 2001). - Kindle the trench
Checks up to 23% Cu, 3.88 g/t Au, and 43.1 g/t Ag(Kindle, 1932; confirmed by Neuronics, 2018). - Galena Fen Trench
8% zinc, 52.1 g/t Ag, 0.34 g/t Ag(Eveley, 1994).
All of the above grades and intervals are historical in nature, and are derived from work completed by previous operators and government geologists. It has not been independently verified by Advanced Gold Exploration Inc. or any qualified person thereof, and are reported here only as an indication of the exploration potential of the area. It may not be representative of the identifiable mineralization on the Murrell Mar property.
Last work
Noronex Ltd (2018-2022) has confirmed base and precious metal mineralization in the JJ Perry, Kindle and Galena trenches, validating the historical data and underscoring the importance of modern exploration.
Near-term catalysts
- Navigate and check Holland-Cellew events and other historical events
- Possible primary source gold anomalies in nearby soils identified in 2022
- Following the eastern and western extensions of the 8 km long Mosul trend which hosts several known sulphide events.
- Evaluation of tourmaline-bearing pegmatites in the Eastern Range for LCT mineralization. (Possibility of offer/joint project)
“The Morell Mar project, with an area of more than 8,200 hectares, has real regional potential.” Arndt Rohlig, President and CEO of Advanced Gold “The company has increased its portfolio of assets in Ontario to 3 distinct projects. We are awaiting permits for the 100% owned Doyle Gold Property. Stage Capital is finalizing plans for an airborne VTEM on Buck Lake. Heritage Mining is also delivering drilling results at the Melba property which Advanced sold to Heritage Mining for $350,000 in cash and stock last December.”
“We are pleased to partner with Advanced Gold on the Muriel-Marr project,” said Jess Angell, President of Last Resort. “Muriel-Marr represents the type of neglected, regional-level opportunities we are focused on identifying in Ontario – a large package of unexplored territory with strong historical performances, compelling geophysical targets, and beneficial upside across copper, gold, silver, zinc and critical minerals.”
“Bounty is excited to see Muriel Mar advanced by a public exploration company with the ability to move the project forward,” said Jason LeBlanc of Bounty. “The property has the size, geological setting and historic high-grade mineralization that attracted us to the area, and we believe AUEX is well-positioned to build on this foundation through modern, systematic exploration.”
Figure 2. Regional geology map
Subject to the terms of the option agreement, the Company will exercise the option and the Company will acquire the Morell Mar Project, upon completion of the following:
- Make aggregate cash payments of $120,000 to Bounty and Last Resort based on their pro rata interest, over three years;
- Issuance of a total of 1,500,000 ordinary shares (each “Shared share“) in the Company’s capital to the bonus and last resort, according to their pro rata interest, over a period of three years; and
- Incurring a total of $161,200 in qualifying expenses on Muriel Marr Project. If the company does not bear the eligible expenses on Muriel-Marr Project On or before the second anniversary of the option agreement, the Company must make a cash payment of $161,200 to Reward and last resort according to their proportional interest.
Additionally, in connection with the transaction contemplated by the Option Agreement, Optionors, According to their proportional interests, You will be entitled to 2% of the net smelter revenue (“ownership“). The company has the option to buy out the equity (reducing the equity to 1%) by making a cash payment to Options, According to their proportional interests In the amount of $1,000,000. Additionally, in connection with the transactions contemplated by the option agreement, the Company has agreed to issue a total of 238,888 common shares to the finder as a finder’s fee, at a deemed issue price of $0.135 per common share.
Completion of the transaction contemplated by the Option Agreement remains subject to the approval of all regulatory and other approvals, including the approval of the Canadian Securities Exchange. All securities issued under the Option Agreement are subject to a statutory hold period of four months and one day from issuance, as applicable, in accordance with applicable securities laws.
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 property in Nevada expands the portfolio. The firm’s expertise is to identify and acquire undervalued properties with historically significant businesses, which it believes can enhance their economic value at today’s prices. The company’s goal is to create immediate and long-term value for its partners and shareholders. Visit www.advancedgoldexploration.com for more information.
Qualified person
James Atkinson, MSc, PGeo, a qualified person as that term is defined by National Instrument 43-101 (Disclosure Standards for Mineral Projects), has reviewed and approved the technical information contained in this press release. The qualified person has not completed sufficient work to verify all historical information on the property, particularly historical sampling, drilling results and other artifacts provided by Noranda and the previous operators. The qualified person assumes that historical sampling and analytical results have been completed in accordance with industry standard practices. The information provides an indication of the exploration potential of the property but may not represent expected results.
On behalf of the Board of Directors,
Arndt Rohlig, President and CEO
For more information, please contact:
Arendt Rohlig
CEO, President and Director of Advanced Gold Exploration Inc.
Email: (email protected)
Phone: (604) 318-1034
www.advancedgoldexploration.com
CSE: AUEX OTCQB: AUHIF FSE: ZF2
Forward-looking information: This news release contains “forward-looking information or statements” within the meaning of applicable Canadian securities laws. These statements include, but are not limited to, statements regarding the completion of future profit milestones, listing SCC timelines, planned exploration programs, potential joint venture formations, and future operating activities. Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those anticipated, including resource exploration risks, changes in mineral prices, access to capital, and general regulatory approval or disbursement timelines. The Company undertakes no obligation to update forward-looking statements except as required by law.
Forward-looking information and cautionary statements
This press 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 of these forward-looking statements can be identified by words such as “anticipates,” “expects,” “intends,” “contemplates,” “believes,” “projects,” “plans” and similar expressions. Forward-looking statements contained in this news release include statements regarding the Company’s ability to increase the value of its current and future mineral exploration properties and, with respect thereto, any long-term shareholder value, the Company’s ability to mitigate or eliminate exploration risks, 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 these statements are based on reasonable management 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 discussions and analyzes and other periodic filings made by the Company to Canadian securities regulatory authorities under the Company’s profile on SEDAR at www.sedar.com. The Company undertakes no obligation to update or revise forward-looking information to reflect new events, circumstances or actual results unless required by applicable law.
