ADVANCED GOLD EXPLORATION - AUHIF STOCK NEWS

Advanced Gold Exploration Inc (CSE: AUEX) has completed a debt settlement announced on October 2, 2024. The company has settled an aggregate debt of $144,950 owed to an arm's length creditor by issuing 2,899,000 common shares at a price of $0.05 per share. This debt-for-equity swap is part of the company's efforts to improve its financial position. The newly issued common shares are subject to a four-month hold period, as per standard regulatory requirements. This move demonstrates Advanced Gold Exploration's strategy to manage its liabilities and strengthen its balance sheet without impacting its cash reserves.

Advanced Gold Exploration Inc. (CSE: AUEX) has announced a non-brokered private placement of 100 unsecured convertible debentures at $1,000 each, aiming to raise $100,000 for general working capital. The debentures will mature in three years with a 3% annual interest rate, payable in cash or shares. Holders can convert the principal into units at $0.10 per unit, each comprising one common share and one warrant. Warrants allow purchasing one common share at $0.15 within three years.

The securities are subject to a four-month hold period. The offering awaits final approval from the Canadian Securities Exchange. Additionally, the company announced changes in management: Radovan Danilovsky resigned as Corporate Secretary but remains a director and CFO, while Carly Burk, an experienced corporate and securities lawyer, has been appointed as the new Corporate Secretary.

John Ross Quigley has filed an early warning report regarding historical transactions of Advanced Gold Exploration Inc. (AUHIF) securities between December 2023 and September 2024. As of October 3, 2024, Quigley owns or controls 16,738,777 common shares, representing 22.14% of the company's outstanding shares. The report details three significant transactions:

1. December 22, 2023: Company option exercise diluted Quigley's ownership from 12.29% to 9.54%.
2. April 5, 2024: Quigley acquired 3,333,333 shares and warrants, increasing ownership to 13.63% (17.89% diluted).
3. September 3, 2024: Quigley acquired 8,000,000 shares and 4,600,000 warrants, increasing ownership to 22.14% (29.53% diluted).

Quigley may increase or decrease holdings based on market conditions and future circumstances.

Advanced Gold Exploration Inc (CSE: AUEX) has announced plans to settle $144,950 of debt through the issuance of 2,899,000 common shares at $0.05 per share. The shares will be subject to a four-month hold period, pending final acceptance from the Canadian Securities Exchange.

The company also issued a correction to its August 26, 2024 press release, stating that the previously announced non-brokered private placement of 8,200,000 flow-through units and 3,260,000 units, raising $286,500, closed on September 3, 2024. This offering involved a related party transaction, with an insider acquiring 2,060,000 units. The company relied on exemptions from valuation and minority shareholder approval requirements as per MI 61-101.

Advanced Gold Exploration Inc. (CSE: AUEX) has successfully closed its non-brokered private placement, raising $286,500 through the issuance of 8,200,000 flow-through units and 3,260,000 non-flow-through units at $0.025 per unit. The funds will be used for exploration on the company's Buck Lake copper-zinc project. Each unit includes one common share and one warrant, with warrants exercisable at $0.05 per share for five years. The flow-through shares qualify for the Canadian government's Critical Mineral Exploration Tax Credit. Board member Radovan Danilovsky participated in the financing, and John Ross Quigley became an insider through his participation. The securities are subject to a four-month hold period.

Advanced Gold Exploration has acquired 81 additional claims adjacent to its Buck Lake Property in Northern Ontario, expanding the project area by 1,800 hectares to a total of 6,150 hectares. The new claims show signs of altered volcanic rocks and areas of historical drilling with massive sulfide deposits. This acquisition follows a recent Ontario Government report highlighting the potential of these areas. The company plans to integrate these new claims into its ongoing exploration program, focusing on copper and zinc VMS deposits.

Advanced Gold Exploration (CSE: AUEX) highlights the importance of copper in the commodities supercycle, emphasizing the increasing demand for copper in EV development and Greenhouse Gas emission reduction. The company's Buck Lake Property is a high-grade copper prospect with multiple showings. With copper prices on the rise and growing global demand, AUEX seeks a partner to explore the project further. The property's geological environment is favorable for VMS-type Cu-Zn deposits, presenting significant exploration opportunities.