Early Warning Report in Accordance with Multilateral Instrument 62-104 and 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, February 8, 2021 - Bradley Newell of Vancouver, British Columbia announces that on February 5, 2021 he acquired 1,153,846 common shares of Advance Gold Corp. (TSXV: AAX) (the "Issuer"). Following this acquisition Mr. Newell owns, directly and indirectly, 8,844,151 common shares in the capital of the Issuer representing approximately 16.93% of the Issuer's issued common shares. The shares were acquired pursuant to Mr. Newell's exercise of warrants at an exercise price of $0.08 per share 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

For further information contact:

Advance Gold Corp.
Phone: (604) 505-4753

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/73950