Early Warning Report in Accordance with Multilateral Instrument 62-104 & National Instrument 62-103

This press release is issued pursuant to Multilateral instrument 62-104 - Take-Over Bids and issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting issues

Vancouver, July 15, 2020 - Bradley Newell of Vancouver, British Columbia announces that on July 13, 2020 he acquired ownership of 1,333,333 common shares and warrants of Advance Gold Corp. (TSXV: AAX) (the "Issuer") as a result of participating in a private placement financing. Following this acquisition Mr. Newell owns, directly and indirectly 7,690,305 common shares in the capital of the Issuer representing approximately 17.2% of the Issuer's issued common shares. The shares were issued pursuant to Mr. Newell's participation in a private placement financing priced at $0.075 per Unit, with each Unit being comprised of 1 common share and 1 common share purchase warrant, each warrant being exercisable at $0.10 for 24 months, and were acquired for investment purposes, which investment in the issuer will be evaluated and increased or decreased from time to time at Mr. Newell's discretion.

A report respecting this acquisition will be electronically filed with the securities Commissions in British Columbia and Alberta and will be available for viewing through the Internet at the Canadian System for Electronic Analysis and Retrieval (SEDAR) at www.sedar.com.

(signed) "Bradley Newell"
Bradley Newell

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/59865