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Advance Gold Returns High-Grade Lithium-Potassium-Boron from Core Drilling at Saldivar Salar, Mexico

08.06.2021  |  Newsfile

Kamloops, June 8, 2021 - Advance Gold Corp. (TSXV: AAX) ("Advance Gold" or "the Company") is pleased to announce results from the first four core holes drilled at its Saldivar Salar, which is one of 13 salars it recently acquired in central Mexico.

Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: "We have recently completed seven core holes at Saldivar with four reported today, and three more pending. The first two holes went to bedrock at 84m and 77m. These two deeper holes were designed to test the depth to bedrock. With the five auger holes and now four core holes we have established widespread lithium, boron and potassium distribution starting at the surface and continuous to bedrock. These early assay results appear to indicate that the Lithium content increases with depth and increases as we move towards the centre of the salar. The surface expression of the Saldivar salar is approximately 2000 metres north to south and 800 metres east to west with a depth of 80 metres. The drilling clearly establishes the Saldivar salar as a bulk tonnage, open pit target. We are also working to optimize our recovery process to prepare our test plant for bulk sampling."

Saldivar Lithium Project, Mexico
Coordinates: 788,600E, 2,586,000N, Elevation 1925m
Hole AG-Li-06

No. INTERVAL SAMPLED Li B K
FROM TO WIDTH ppm ppm %
1 0.00 1.00 1.00 135.00 130.00 0.96
2 1.00 2.00 1.00 126.00 220.00 1.41
3 2.00 3.00 1.00 101.50 230.00 1.27
4 3.00 4.00 1.00 99.80 280.00 1.27
5 4.00 5.00 1.00 93.60 280.00 1.21
6 5.00 6.00 1.00 109.50 210.00 1.27
7 6.00 7.00 1.00 106.50 220.00 1.28
8 7.00 8.00 1.00 106.00 200.00 1.21
9 8.00 9.00 1.00 107.00 200.00 1.22
10 9.00 10.00 1.00 101.00 210.00 1.20
11 10.00 11.00 1.00 89.40 230.00 1.15
12 11.00 12.00 1.00 91.90 270.00 1.28
13 12.00 13.00 1.00 102.50 290.00 1.27
14 13.00 14.00 1.00 103.00 310.00 1.31
15 14.00 15.00 1.00 89.10 260.00 1.13
16 15.00 16.00 1.00 102.00 300.00 1.26
17 16.00 17.00 1.00 94.30 260.00 1.19
18 17.00 18.00 1.00 109.50 270.00 1.21
19 18.00 19.00 1.00 104.50 280.00 1.25
20 19.00 20.00 1.00 95.20 260.00 1.23
21 20.00 21.00 1.00 92.30 260.00 1.19
22 21.00 22.00 1.00 101.00 260.00 1.20
23 22.00 23.00 1.00 119.50 310.00 1.58
24 23.00 24.00 1.00 131.50 310.00 1.53
25 24.00 25.00 1.00 114.00 290.00 1.43
26 25.00 26.00 1.00 122.50 310.00 1.52
27 26.00 27.00 1.00 117.00 280.00 1.37
28 27.00 28.00 1.00 108.50 260.00 1.30
29 28.00 29.00 1.00 102.00 260.00 1.33
30 29.00 30.00 1.00 133.50 290.00 1.46
31 30.00 31.00 1.00 132.50 280.00 1.40
32 31.00 32.00 1.00 116.50 250.00 1.26
33 32.00 33.00 1.00 119.00 250.00 1.32
34 33.00 34.00 1.00 120.50 250.00 1.31
35 34.00 35.00 1.00 138.00 280.00 1.49
36 35.00 36.00 1.00 143.50 260.00 1.40
37 36.00 37.00 1.00 155.00 260.00 1.44
38 37.00 38.00 1.00 150.50 270.00 1.50
39 38.00 39.00 1.00 141.50 270.00 1.59
40 39.00 40.00 1.00 132.00 270.00 1.58
41 40.00 41.00 1.00 138.50 260.00 1.53
42 41.00 42.00 1.00 137.50 260.00 1.58
43 42.00 43.00 1.00 139.50 260.00 1.55
44 43.00 44.00 1.00 127.50 230.00 1.46
45 44.00 45.00 1.00 131.50 250.00 1.55
46 45.00 46.00 1.00 135.00 230.00 1.37
47 46.00 47.00 1.00 161.00 230.00 1.39
48 47.00 48.00 1.00 174.00 230.00 1.48
49 48.00 49.00 1.00 181.00 210.00 1.36
50 49.00 50.00 1.00 146.00 190.00 1.23
51 50.00 51.00 1.00 194.50 230.00 1.43
52 51.00 52.00 1.00 220.00 250.00 1.56
53 52.00 53.00 1.00 183.50 210.00 1.50
54 53.00 54.00 1.00 177.50 210.00 1.53
55 54.00 55.00 1.00 169.50 220.00 1.54
56 55.00 56.00 1.00 174.50 220.00 1.55
57 56.00 57.00 1.00 174.00 220.00 1.50
58 57.00 58.00 1.00 198.00 210.00 1.34
59 58.00 59.00 1.00 210.00 210.00 1.37
60 59.00 60.00 1.00 231.00 200.00 1.33
61 60.00 61.00 1.00 232.00 190.00 1.32
62 61.00 62.00 1.00 173.00 160.00 1.12
63 62.00 63.00 1.00 173.00 160.00 1.15
64 63.00 64.00 1.00 161.00 160.00 1.17
65 64.00 65.00 1.00 149.50 160.00 1.19
66 65.00 66.00 1.00 173.00 160.00 1.26
67 66.00 67.00 1.00 166.00 170.00 1.24
68 67.00 68.00 1.00 200.00 190.00 1.37
69 68.00 69.00 1.00 167.00 170.00 1.22
70 69.00 70.00 1.00 146.50 150.00 1.08
71 70.00 71.00 1.00 149.00 160.00 1.11
72 71.00 72.00 1.00 147.50 170.00 1.15
73 72.00 73.00 1.00 132.00 160.00 1.16
74 73.00 74.00 1.00 116.50 160.00 1.22
75 74.00 75.00 1.00 133.50 180.00 1.39
76 75.00 76.00 1.00 112.00 170.00 1.31
77 76.00 77.00 1.00 126.50 170.00 1.39
78 77.00 78.00 1.00 147.50 180.00 1.41
79 78.00 79.00 1.00 118.50 170.00 1.32
80 79.00 80.00 1.00 127.50 170.00 1.25
81 80.00 81.00 1.00 112.00 130.00 1.04
82 81.00 82.00 1.00 98.80 130.00 0.96
83 82.00 83.00 1.00 112.50 160.00 1.13
84 83.00 84.00 1.00 113.50 200.00 1.20
AVERAGE 136.3143 224.8809 1.3225

SALDIVAR LITHIUM PROJECT, MEXICO
COORDINATES: 788,500E, 2,586,300N, ELEV. 1,925m
HOLE AG-Li-07

No. INTERVAL SAMPLED Li B K
FROM TO WIDTH ppm ppm %
1 0.00 1.00 1.00 125.00 160.00 1.17
2 1.00 2.00 1.00 99.10 190.00 1.19
3 2.00 3.00 1.00 102.00 210.00 1.18
4 3.00 4.00 1.00 107.00 250.00 1.32
5 4.00 5.00 1.00 107.00 270.00 1.29
6 5.00 6.00 1.00 98.80 210.00 1.19
7 6.00 7.00 1.00 98.80 260.00 1.13
8 7.00 8.00 1.00 103.50 290.00 1.23
9 8.00 9.00 1.00 108.00 280.00 1.21
10 9.00 10.00 1.00 102.50 260.00 1.16
11 10.00 11.00 1.00 94.10 240.00 1.09
12 11.00 12.00 1.00 90.10 240.00 1.08
13 12.00 13.00 1.00 90.40 240.00 1.06
14 13.00 14.00 1.00 90.40 250.00 1.11
15 14.00 15.00 1.00 94.20 250.00 1.18
16 15.00 16.00 1.00 102.50 260.00 1.28
17 16.00 17.00 1.00 105.50 280.00 1.38
18 17.00 18.00 1.00 117.50 300.00 1.50
19 18.00 19.00 1.00 114.50 290.00 1.53
20 19.00 20.00 1.00 107.50 260.00 1.27
21 20.00 21.00 1.00 102.50 240.00 1.22
22 21.00 22.00 1.00 100.00 230.00 1.19
23 22.00 23.00 1.00 115.50 250.00 1.32
24 23.00 24.00 1.00 120.00 240.00 1.20
25 24.00 25.00 1.00 114.50 230.00 1.16
26 25.00 26.00 1.00 119.00 240.00 1.26
27 26.00 27.00 1.00 113.50 230.00 1.24
28 27.00 28.00 1.00 117.00 230.00 1.30
29 28.00 29.00 1.00 145.00 260.00 1.40
30 29.00 30.00 1.00 148.50 250.00 1.36
31 30.00 31.00 1.00 150.50 250.00 1.43
32 31.00 32.00 1.00 141.50 250.00 1.51
33 32.00 33.00 1.00 138.50 250.00 1.50
34 33.00 34.00 1.00 136.00 240.00 1.44
35 34.00 35.00 1.00 142.00 240.00 1.46
36 35.00 36.00 1.00 140.50 230.00 1.42
37 36.00 37.00 1.00 143.50 230.00 1.48
38 37.00 38.00 1.00 128.50 210.00 1.38
39 38.00 39.00 1.00 155.00 230.00 1.50
40 39.00 40.00 1.00 148.00 230.00 1.51
41 40.00 41.00 1.00 185.00 240.00 1.65
42 41.00 42.00 1.00 182.50 210.00 1.47
43 42.00 43.00 1.00 174.50 190.00 1.34
44 43.00 44.00 1.00 217.00 230.00 1.55
45 44.00 45.00 1.00 214.00 220.00 1.56
46 45.00 46.00 1.00 197.50 190.00 1.56
47 46.00 47.00 1.00 187.50 210.00 1.61
48 47.00 48.00 1.00 180.50 210.00 1.58
49 48.00 49.00 1.00 184.00 210.00 1.59
50 49.00 50.00 1.00 191.00 210.00 1.45
51 50.00 51.00 1.00 186.00 200.00 1.31
52 51.00 52.00 1.00 186.50 190.00 1.27
53 52.00 53.00 1.00 209.00 200.00 1.29
54 53.00 54.00 1.00 229.00 180.00 1.28
55 54.00 55.00 1.00 198.00 170.00 1.17
56 55.00 56.00 1.00 177.00 160.00 1.08
57 56.00 57.00 1.00 175.50 170.00 1.19
58 57.00 58.00 1.00 168.00 170.00 1.16
59 58.00 59.00 1.00 176.00 160.00 1.20
60 59.00 60.00 1.00 211.00 190.00 1.30
61 60.00 61.00 1.00 195.00 190.00 1.30
62 61.00 62.00 1.00 173.50 170.00 1.16
63 62.00 63.00 1.00 164.50 170.00 1.14
64 63.00 64.00 1.00 166.00 180.00 1.17
65 64.00 65.00 1.00 159.50 170.00 1.20
66 65.00 66.00 1.00 143.50 170.00 1.20
67 66.00 67.00 1.00 137.50 170.00 1.28
68 67.00 68.00 1.00 143.00 200.00 1.43
69 68.00 69.00 1.00 113.50 170.00 1.28
70 69.00 70.00 1.00 136.50 180.00 1.38
71 70.00 71.00 1.00 164.50 190.00 1.44
72 71.00 72.00 1.00 125.00 180.00 1.29
73 72.00 73.00 1.00 131.00 180.00 1.34
74 73.00 74.00 1.00 125.50 160.00 1.16
75 74.00 75.00 1.00 144.50 150.00 1.16
76 75.00 76.00 1.00 105.50 90.00 0.69
77 76.00 77.00 1.00 74.70 50.00 0.39
AVERAGE 141.70 213.38 1.29

SALDIVAR LITHIUM PROJECT, MEXICO
COORDINATES: 788,500E, 2,586,300N, ELEV. 1,925m
HOLE AG-Li-08

INTERVAL SAMPLED Li B K
FROM TO WIDTH ppm ppm %
1 0.00 1.00 1.00 138.00 220.00 1.22
2 1.00 2.00 1.00 117.00 270.00 1.28
3 2.00 3.00 1.00 104.00 280.00 1.15
4 3.00 4.00 1.00 115.00 330.00 1.32
5 4.00 5.00 1.00 98.30 300.00 1.20
6 5.00 6.00 1.00 91.90 280.00 1.10
7 6.00 7.00 1.00 100.00 300.00 1.17
8 7.00 8.00 1.00 113.00 260.00 1.11
9 8.00 9.00 1.00 99.70 260.00 1.14
10 9.00 10.00 1.00 93.90 240.00 1.07
11 10.00 11.00 1.00 96.90 240.00 1.10
12 11.00 12.00 1.00 98.90 250.00 1.12
13 12.00 13.00 1.00 86.30 230.00 1.06
14 13.00 14.00 1.00 96.70 250.00 1.23
15 14.00 15.00 1.00 103.50 260.00 1.26
16 15.00 16.00 1.00 104.00 270.00 1.34
17 16.00 17.00 1.00 105.00 260.00 1.30
18 17.00 18.00 1.00 95.40 230.00 1.13
19 18.00 19.00 1.00 87.30 220.00 1.07
20 19.00 20.00 1.00 91.60 210.00 1.08
21 20.00 21.00 1.00 112.00 240.00 1.20
22 21.00 22.00 1.00 109.00 230.00 1.15
23 22.00 23.00 1.00 103.00 220.00 1.08
24 23.00 24.00 1.00 94.00 220.00 1.11
25 24.00 25.00 1.00 94.10 210.00 1.06
26 25.00 26.00 1.00 109.50 220.00 1.20
27 26.00 27.00 1.00 130.50 250.00 1.27
28 27.00 28.00 1.00 135.00 230.00 1.25
29 28.00 29.00 1.00 130.50 240.00 1.33
30 29.00 30.00 1.00 127.00 240.00 1.36
31 30.00 31.00 1.00 114.00 230.00 1.33
32 31.00 32.00 1.00 124.50 230.00 1.31
33 32.00 33.00 1.00 124.50 220.00 1.32
34 33.00 34.00 1.00 127.00 230.00 1.32
35 34.00 35.00 1.00 123.00 210.00 1.24
36 35.00 36.00 1.00 117.50 210.00 1.28
37 36.00 37.00 1.00 127.00 210.00 1.30
38 37.00 38.00 1.00 144.00 230.00 1.40
39 38.00 39.00 1.00 157.50 220.00 1.38
40 39.00 40.00 1.00 193.00 230.00 1.43
41 40.00 41.00 1.00 179.00 210.00 1.34
42 41.00 42.00 1.00 214.00 230.00 1.49
43 42.00 43.00 1.00 180.00 190.00 1.37
44 43.00 44.00 1.00 200.00 200.00 1.48
45 44.00 45.00 1.00 163.00 190.00 1.40
46 45.00 46.00 1.00 162.00 200.00 1.43
47 46.00 47.00 1.00 158.00 200.00 1.37
48 47.00 48.00 1.00 173.00 190.00 1.24
49 48.00 49.00 1.00 174.50 200.00 1.26
50 49.00 50.00 1.00 190.00 180.00 1.24
51 50.00 51.00 1.00 211.00 190.00 1.22
52 51.00 52.00 1.00 210.00 170.00 1.22
53 52.00 53.00 1.00 167.00 140.00 1.07
AVERAGE 130.46 229.62 1.24

SALDIVAR LITHIUM PROJECT, MEXICO
COORDINATES: 788,500E, 2,586,300N, ELEV. 1,925m
HOLE AG-Li-09

No. INTERVAL SAMPLED Li B K
FROM TO WIDTH ppm ppm %
1 0.00 1.00 1.00 135.50 250.00 1.23
2 1.00 2.00 1.00 119.50 280.00 1.22
3 2.00 3.00 1.00 116.50 320.00 1.21
4 3.00 4.00 1.00 127.50 350.00 1.37
5 4.00 5.00 1.00 121.00 250.00 1.10
6 5.00 6.00 1.00 102.50 270.00 1.13
7 6.00 7.00 1.00 105.50 280.00 1.17
8 7.00 8.00 1.00 107.00 260.00 1.23
9 8.00 9.00 1.00 95.80 220.00 1.12
10 9.00 10.00 1.00 99.80 230.00 1.13
11 10.00 11.00 1.00 100.50 230.00 1.21
12 11.00 12.00 1.00 97.70 220.00 1.20
13 12.00 13.00 1.00 94.80 220.00 1.22
14 13.00 14.00 1.00 109.00 250.00 1.42
15 14.00 15.00 1.00 105.00 250.00 1.44
16 15.00 16.00 1.00 107.50 240.00 1.44
17 16.00 17.00 1.00 95.90 220.00 1.24
18 17.00 18.00 1.00 97.40 210.00 1.24
19 18.00 19.00 1.00 99.40 220.00 1.28
20 19.00 20.00 1.00 121.50 240.00 1.42
21 20.00 21.00 1.00 105.00 210.00 1.24
22 21.00 22.00 1.00 115.00 220.00 1.26
23 22.00 23.00 1.00 104.00 210.00 1.23
24 23.00 24.00 1.00 104.00 210.00 1.26
25 24.00 25.00 1.00 113.50 210.00 1.27
26 25.00 26.00 1.00 127.00 230.00 1.39
27 26.00 27.00 1.00 126.00 230.00 1.35
28 27.00 28.00 1.00 138.00 230.00 1.43
29 28.00 29.00 1.00 136.50 230.00 1.49
30 29.00 30.00 1.00 136.00 230.00 1.53
31 30.00 31.00 1.00 138.00 220.00 1.47
32 31.00 32.00 1.00 131.00 210.00 1.41
33 32.00 33.00 1.00 140.50 220.00 1.50
34 33.00 34.00 1.00 132.50 210.00 1.45
35 34.00 35.00 1.00 142.50 210.00 1.46
36 35.00 36.00 1.00 151.50 200.00 1.40
37 36.00 37.00 1.00 186.50 220.00 1.54
38 37.00 38.00 1.00 163.00 200.00 1.46
39 38.00 39.00 1.00 161.50 190.00 1.36
40 39.00 40.00 1.00 173.50 200.00 1.41
41 40.00 41.00 1.00 211.00 220.00 1.57
42 41.00 42.00 1.00 199.50 200.00 1.71
43 42.00 43.00 1.00 179.00 200.00 1.67
44 43.00 44.00 1.00 171.00 210.00 1.64
45 44.00 45.00 1.00 174.50 210.00 1.62
46 45.00 46.00 1.00 188.00 200.00 1.50
47 46.00 47.00 1.00 196.50 200.00 1.44
48 47.00 48.00 1.00 198.00 190.00 1.46
49 48.00 49.00 1.00 220.00 200.00 1.49
50 49.00 50.00 1.00 231.00 190.00 1.44
AVERAGE 137.07 226.40 1.37


VERTICAL GRADE DISTRIBUTION: HOLE DDH-06, SALDIVAR PROJECT

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VERTICAL GRADE DISTRIBUTION: HOLE AG-LI-7, SALDIVAR PROJECT

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VERTICAL GRADE DISTRIBUTION: HOLE AG-LI-8, SALDIVAR PROJECT

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VERTICAL GRADE DISTRIBUTION: HOLE AG-LI-9, SALDIVAR PROJECT

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Diamond and Auger drill hole locations

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Drill core is logged and sampled in a secure core storage facility located near the Saldivar salar. Core samples were delivered to ALS Global in Zacatecas, Mexico, for sample preparation, then concentrates sent to ALS Global in Vancouver, Canada for assaying. Standard rock preparation was done and then aqua regia digestion with multi-element ICP-MS41. The Company relies on ALS Global for QA/QC procedures.

Julio Pinto Linares is a qualified person, doctor in geological sciences with specialty in economic geology and qualified professional No. 01365 by MMSA for Advance Gold and is the qualified person as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

About Advance Gold Corp.

Advance Gold is a junior exploration company focused on acquiring and exploring mineral properties containing precious metals, battery metals and fertilizer minerals. The company acquired a 100-per-cent interest in the Tabasquena silver mine in Zacatecas, Mexico, in 2017, and the Venaditas project, also in Zacatecas state, in April, 2018. In addition, Advance Gold holds an 11.45% interest in strategic claims in the Liranda Corridor in Kenya, East Africa. The remaining 88.55% of the Kakamega project is held by Shanta Gold Limited (project previously owned by Barrick Gold Corp., for details see Advance Gold News Release dated 2020-08-26). In March 2020, the Company moved into the lithium space with a purchase agreement to acquire 13 lithium-potassium boron prospective salars in central Mexico, which also includes a test plant and exclusive rights to a patented proprietary lithium extraction method.

For further information, please contact:

Allan Barry Laboucan,
President and CEO
Mexico Cellular Phone: 492-238-5282
Email: allan@advancegold.ca

This news release contains certain statements that may be deemed "forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors should change, except as required by law.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/86910


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Advance Lithium Corp.

Advance Lithium Corp.
Bergbau
Kanada
A3C9BR
CA00746P1036
www.advancelithiumcorp.com
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