Advance Gold Corp. ("Advance Gold" or "the Company") wishes to announce that further to its February 5, 2019 release, Advance proposes to increase its non-brokered private placement to up to $370,000 by the issuance of units at a price of $0.065 per unit, each unit consisting of one common share plus a warrant to acquire a further commons share for $0.08 for a period of 24 months.
The Company has received strong expressions of interest to participate in the financing and the Company anticipates closing the financing within the next week. There are no material facts or material changes relating to the Company that have not been previously disclosed.
Advance Gold will use the net proceeds of this private placement for general corporate purposes and to advance its Tabasquena silver project in Zacatecas, Mexico.
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 85.47% and Advance Gold 14.53%.
For further information, please contact:
Allan Barry Laboucan,
President and CEO
Phone: (604) 505-4753