As a result of a review by the British Columbia Securities Commission, Advance Gold is issuing the following news release to clarify the disclosure in its news release of Oct. 29, 2018.
Vancouver, British Columbia--(Newsfile Corp. - November 1, 2018) - Advance Gold Corp. (TSXV: AAX) ("Advance Gold" or "the Company") reports additional information on its phase 2 drilling at the Tabasquena project, to accompany its news release on Oct. 29, 2018.
AGT-05 Hole location details and table of results:
Bearing: N 40° E; Dip: -73°; Total Depth: 353.40m.; Coordinates: N 2'497,382 E 785,981
Collar elevation: 2,125mosl.
| Sample Numbers | Start of Hole | End of Hole | Intersected Distance Metres | Weighted Assay for Au g/t | Weighted Assay for Ag g/t | Vein Name |
| 8004-8013 | 214.50 | 235.75 | 21.25 | 0.047 | 4.7 | Tabasqueña |
| 8060-8061 | 254.10 | 260.65 | 6.55 | Pending | Pending | Unnamed |
| 8018-8026 | 289.15 | 308.65 | 19.50 | 0.037 | 3.7 | Feliz |
| 8027-8029 | 322.65 | 328.45 | 5.80 | 0.005 | 0.6 | Unnamed |
AGT-06 Hole location details and table of results:
Bearing: N 70° E; Dip: -70°; Total Depth: 325.95m ; Coordinates: N 2'497,696 E 785,960
Collar elevation: 2,123mosl.
| Sample Numbers | Initial Distance | End Distance | Intersected Distance Metres | Weighted Assay for Au g/t | Weighted Assay for Ag g/t | Vein Name | |||
| 8033-8041 | 158,85 | 169.95 | 11.10 | 0.042 | 13.7 | Tabasqueña | |||
| 8042-8045 | 200.40 | 207.25 | 6.85 | 0.015 | 3.2 | Unknown | |||
| 8047-8050 | 309.20 | 318.95 | 9.75 | 0.005 | 0.3 | Unknown | |||
| 8051-8053 | 323.00 | 325.95 | 2.95 | 0.005 | 0.4 | Unknown | |||
AGT-07 Hole location details:
Bearing: N 40° E; Dip: -78°; Total Depth:351.50m. Coordinates: N 2'497,290 E 785,922
Collar elevation: 2,065mosl.
Assays of this hole are pending, currently at the lab for analysis.
Note: All vein widths cut by drills holes are not true widths, they represent the intersection of the incline hole with the dip of the vein. Advance is in the process to estimate true widths for all the vein intersections.
Drill core is logged and sampled in a secure core storage facility located near the Tabasquena claims by Ojocaliente, Mexico. Core samples from the program are cut in half, using a diamond cutting saw, and are sent to ALS Chemex in Zacatecas, Mexico, for sample preparation, then sent to ALS Chemex in Vancouver, Canada for assays. ALS Chemex is an accredited mineral analysis laboratory. All samples are analysed for gold using standard fire assay-AA (atomic absorption) techniques. The Company relies on ALS Chemex for QA/QC procedures and protocols for the assaying process.
Dr. Julio Pinto Linares is the qualified person for the Tabasquena project, since June 2018 when drilling began and throughout phase 2. Supervising drilling in the field for drill holes one through seven. He examined and reviewed core boxes in the field, supervised moving core boxes to the secure core storage facility located near the Tabasqueña mine. He was present during logging and sampling of the core, and kept control of all sample bags until delivered to the ALS Chemex Zacatecas, Mexico laboratory. He checked and was present during the QA/QC procedures and protocols during the preparation of the samples.
Julio Pinto Linares is a QP, Doctor in Geological Sciences with speciality in Economic Geology and Qualified Professional No. 01365 by MMSA., for Advance Gold and is the qualified person as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.
About Advance Gold Corp. (AAX.V)
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, and the Venaditas project, also in Zacatecas state, in April, 2018.
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.
Venaditas is well located adjacent to Teck's San Nicholas mine, a VMS deposit, and it is approximately 11km to the east of the Tabasquena project, along a paved road.
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
Email:
Corporate website:
Nicosia Capital
Investor Relations
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.
