Advanced Gold Acquires 100% Interest in Silver Belle Nevada CRD Claims

Core Viewpoint - Advanced Gold Exploration Inc. has entered into an agreement to acquire a 100% interest in the Silver Belle Project located in Eureka County, Nevada, which is known for high-grade mineralization and historic production of silver, lead, and zinc [1][2][4]. Project Overview - The Silver Belle Project consists of approximately 100 unpatented lode mining claims covering 2,000 acres within the Eureka Mining District, recognized for its carbonate replacement deposit (CRD) style mineralization [2]. - The project is situated in a productive carbonate-hosted mineral belt, close to several historic and modern mining operations, and is believed to have geological characteristics consistent with CRD-style mineralization [3]. Historical Significance - Historical records indicate high-grade mineralization in the area, with notable past production including a 1937 shipment that returned a silver grade of 1,611 g/t (47 oz/ton) along with significant concentrations of lead (37%), zinc (10%), and copper (1%) [5][6]. - The project has not undergone modern exploration, with previous work limited to the shallow oxidized cap, leaving deeper potential untested [5]. Transaction Details - The acquisition agreement includes a total cash payment of $175,000, with $25,000 due upon execution, $100,000 at closing, and $50,000 by the sixth anniversary of the closing date [8]. - The company will also issue 1,500,000 common shares to the vendors at closing and another 1,500,000 shares by the sixth anniversary [8]. Royalty Agreement - Stream Metals will receive a 1.5% net smelter returns royalty, which the company can buy out for $1,500,000, reducing the royalty to 0% [9]. Proposed Private Placement - The company plans to complete a non-brokered private placement of up to 5,000,000 units at a price of $0.20 per unit, aiming for gross proceeds of up to $1,000,000 [10]. - Each unit will consist of one common share and one-half of a transferable common share purchase warrant, with warrants allowing the purchase of one common share at $0.30 for two years [11]. Use of Proceeds - The gross proceeds from the private placement will be allocated for general corporate and working capital purposes [12].