Private Placement Announcement
Toronto, Ontario–(Newsfile Corp. – June 25, 2024) – Advanced Gold Exploration Inc. (CSE: AUEX) (“AUEX” or the “Company“) is pleased to announce a non-brokered private placement through the issuance of up to 25,000,000 flow-through units and up to 4,000,000 non-Flow-Through units at a price of $0.025 per unit for a combined aggregate gross proceeds of up to $600,000.
Each flow-through unit will consist of a Common Share issued on a flow-through basis and one-half of a Common Share purchase warrant. The funds raised will be used to initiate a comprehensive exploration program on the copper property at Buck Lake. The Company’s focus on this property comes in response to the increased interest in copper globally.
Offering Details
Each unit, whether flow-through or non-flow-through, will include Common Shares and warrants entitling the holder to acquire additional Common Shares at a set price for a specified period. The Offering is subject to regulatory approvals, including those from the Canadian Securities Exchange.
Exploration Potential of Buck Lake
The Property at Buck Lake is located in a promising geological environment with potential for VMS-type Cu-Zn deposits. Exploration activities in recent years have identified areas of copper and zinc mineralization, culminating in successful drilling programs and encouraging mineralization results.
The review of the Technical Report by Mr. Mike Kilbourne underscores the property’s potential for VMS-type massive sulphide deposits, further supporting the Company’s decision to focus on exploration activities in this area.
Management Changes
The Company announced the resignation of Ms. Carly Burk as Corporate Secretary, with Mr. Radovan Danilovsky assuming the position. Additionally, Dr. Andrew Ramcharan has resigned as the President, effective July 1st, 2024. The Board of Directors acknowledges their contributions and wishes them success in their future endeavors.
About Advanced Gold Exploration Inc.
Advanced Gold Exploration takes a unique approach in the mining industry by acquiring undervalued gold properties and enhancing their value through modern technology. By focusing on past projects with economic potential at current market conditions, the Company strives to bring immediate and long-term value to its partners and shareholders.
Qualified Person Statement
The geological information in this news release has been reviewed and approved by James Atkinson M.Sc., P. Geo., a Qualified Person as defined by National Instrument 43-101. Mr. Atkinson has not completed all verifications of historic data on the Property but recognizes its exploration potential.
Contact Information
For further information, contact James Atkinson, CEO of Advanced Gold Exploration Inc., via email at This email address is being protected from spambots. You need JavaScript enabled to view it. or by phone at (647) 278-7502.
Cautionary Statement
This news release contains forward-looking information regarding the Company’s securities trading and business focus. Readers are cautioned to consider the risks and uncertainties that may impact actual results. The Company does not guarantee future performance, and updates will be provided as required by law.
