2010 News

Advance Gold Corp. (the "Company") has arranged a non-brokered private placement of up to 1,875,000 units (the "Units") at a price of $0.08 per Unit for aggregate proceeds of up to $150,000. Each Unit will consist of one common share of the Company and one-half of one non-transferable share purchase warrant, each whole warrant entitling the holder to purchase an additional common share at a price of $0.12 per share for a period of one year from the completion of the offering, subject to accelerated expiry in certain circumstances. Shares acquired by the placees, and shares which may be acquired upon the exercise of the share purchase warrants, will be subject to a hold period of four months plus one day from the date of completion of the financing in accordance with applicable securities legislation.

Finder's fees in amounts yet to be determined may be paid to persons who introduce the Company to investors.

The proceeds of the private placement will be used for general working capital.

On behalf of the Board of Directors

Advance Gold Corp.
James T. Gillis, President & CEO

For further information please contact: James Gillis, President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

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