Advance Metals Reports 7.5m at 47.9g/t Au at Myrtleford, Eyes 17.2Moz AgEq in Mexico

Exploration Breakthroughs at Myrtleford

Advance Metals Limited (ASX: AVM) has delivered a compelling update for the quarter ending 31 March 2025, highlighted by exceptional drilling results at its Myrtleford Gold Project in Victoria, Australia. The company entered a binding joint venture agreement with Serra Energy Metals Corp. to acquire up to an 80% interest in the Myrtleford and Beaufort Gold Projects, located in the prolific Victorian Goldfields, a region historically responsible for over 80 million ounces of gold production.

Four initial diamond drill holes at the Happy Valley prospect intersected visible gold mineralisation, with assay results confirming ultra-high grade zones. Notably, hole AMD003 returned 7.5 metres at 47.9 g/t Au, including a remarkable 1.3 metres at 271.6 g/t Au, defining a coherent high-grade system that remains open for extension. These results underscore the potential of the 13-kilometre-long Happy Valley trend, with less than 1% of the strike length tested to date.

Advancing Silver Assets in Mexico

In parallel, Advance Metals is progressing its international footprint with two significant silver-focused acquisitions in Mexico. The company secured government and community approvals to commence a maiden drilling program at the Yoquivo Silver-Gold Project in Chihuahua. This project, acquired from Golden Minerals Company, boasts a Foreign Estimate of 17.2 million ounces silver equivalent at 570 g/t AgEq, supported by over 16,500 metres of historical drilling.

The upcoming 3,000-metre diamond drilling program will focus on high-grade targets in the Pertenencia area, testing extensions of previously recorded exceptional intercepts such as 1.2 metres at 1,895 g/t Ag and 34.0 g/t Au. The program is expected to span 2-3 months, with initial assay results anticipated by June 2025.

Additionally, Advance signed a binding agreement to acquire 100% of the Gavilanes Silver Project in Durango, located within the prolific Sierra Madre Occidental District. The project features high-grade silver mineralisation with historic intercepts including 3.3 metres at 2,540 g/t Ag. With limited prior drilling and substantial exploration upside, the acquisition represents a low-cost entry into a promising silver district. Completion is expected by 20 June 2025 following due diligence.

Corporate and Financial Position

Corporate developments include the appointment of Dr. Adam McKinnon as Managing Director and CEO, bringing over 18 years of experience in exploration and mining. The company also completed a $1.52 million placement to institutional and sophisticated investors to fund ongoing drilling programs at Myrtleford and Yoquivo.

Advance reported exploration expenditure of $783,000 for the quarter and ended with a strong cash position of $1.585 million. The company maintains a disciplined approach to capital management while aggressively advancing its exploration pipeline.

With visible gold mineralisation confirmed and high-grade silver projects advancing toward drilling, Advance Metals is well positioned to deliver on its growth strategy in both Australian and Mexican precious metals sectors.