Advance Gold Announces Reliance on Temporary Regulatory Filing Relief

Kamloops, British Columbia--(Newsfile Corp. - May 1, 2020) - Advance Gold Corp. (TSXV: AAX) ("Advance", or the "Company") announces that, due to the COVID-19 pandemic, the Company intends to rely on the temporary blanket relief ("Relief") for market participants published by the Canadian Securities Administrators, which Relief provides issuers with a 45-day filing extension for filings required on or before June 1, 2020, to allow issuers the time needed to focus on the many other business and financial reporting implications of the COVID- 19 pandemic.

The Company will rely on the Relief, in accordance with BC Instrument 51-515 - Temporary Exemption from Certain Corporate Finance Requirements, with respect to the filing of its quarterly consolidated financial statements and accompanying management's discussion and analysis and related CEO and CFO certificates for the quarter ended February 29, 2020 which are required to be filed under Sections 4.2, 4.3 and 5.1(2) of National Instrument 51-102 - Continuous Disclosure Obligations.

The Company is continuing to work diligently and expeditiously to file the Q1 Filings and expects to have them filed on or prior to the extended filing deadline of June 15, 2020.

Until the Q1 Filings are filed, management and other insiders of the Company are subject to a trading black-out policy that reflects the principles in section 9 of National Policy 11-207 - Failure to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

The Company confirms that since the filing of its consolidated interim financial statements for the period ended November 30, 2019, there have been no material business developments other than those that have been publicly disclosed as required under applicable securities laws.

For further information:

For further information, please contact:
Allan Barry Laboucan,
President and CEO
Phone (604) 505-4753
www.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.

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