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Advance Metals strengthens Happy Valley gold targeting with new 3D geological model, regional work advances across Myrtleford and Beaufort

Jane Morgan Management

Key Facts:

• Final high grade gold results returned from Happy Valley drilling, including: 

• AMD029A: 1.8 metre at 15.2 g/t Au from 132.3m incl. 0.2 metres at 131.5 g/t Au from 132.3m 

• AMD030: 1.3 metres at 4.65g/t Au from 324.0m 

• New 3D geological model of Happy Valley completed (Figure 1), improving targeting of high grade gold mineralisation at Happy Valley and the broader Myrtleford project area 

• Model identifies three main gold bearing quartz veins extending to at least 500m below surface 

• Stronger targeting framework established for high grade extensions and untested areas across Myrtleford 

• Regional mapping and sampling continuing along the 16km long Magpie-Barwidgee trend, where numerous historic workings remain untested by modern drilling 

• Beaufort exploration advancing, with 46 rock chip samples collected and assays pending 

Perth, Australia – 6 July 2026| Advance Metals Limited (ASX: AVM) has significantly advanced its understanding of high-grade gold mineralisation at the Happy Valley Deposit in Victoria, with the completion of a detailed 3D geological model that is expected to improve drill targeting across the broader Myrtleford Gold Project.

The new geological model has been completed following receipt of the final assay results from the Company’s recent drilling program at Happy Valley, which returned further high-grade gold intersections, including:

• AMD029A: 1.8 metres at 15.2g/t Au from 132.3m, including 0.2 metres at 131.5g/t Au from 132.3m

• AMD030: 1.3 metres at 4.65g/t Au from 324.0m

The modelling identifies three main gold-bearing quartz veins extending to at least 500 metres below surface and provides a substantially improved understanding of the structural controls on gold mineralisation at Happy Valley. The Company believes this will provide a stronger framework for targeting high-grade extensions and additional mineralised zones at both the deposit and across the wider Myrtleford Project.

Advance Metals Managing Director and CEO Dr Adam McKinnon said: “The final assays from Happy Valley are encouraging, but the key outcome is the improved geological model now in place. It gives us a much clearer understanding of the controls on high grade gold mineralisation and provides a stronger framework for future targeting.” 

“With Happy Valley already delivering several ultra-high grade intersections, regional exploration continuing along the Magpie-Barwidgee trend and assays pending from Beaufort, the Victorian gold projects continue to provide Advance with meaningful gold exposure alongside our rapidly advancing high grade precious metals portfolio.”

The new model indicates that high-grade gold shoots are likely to occur where the principal quartz veins intersect before being offset by later faulting. This interpretation is expected to support more precise drill targeting as Advance tests for high-grade extensions and repetitions of the known mineralised system.

Beyond Happy Valley, regional exploration continues along the 16-kilometre Magpie-Barwidgee trend within the Myrtleford Gold Project. Mapping, rock chip sampling and reinterpretation of high-resolution LiDAR data have identified a number of priority targets, including Sunday, Magpie, Tubal Cain and Barwidgee, where numerous historic gold workings remain untested by modern drilling. The current program is designed to generate maiden drill targets and assess the potential for additional high-grade gold deposits across the district.

At the Beaufort Gold Project in western Victoria, Advance has completed an initial program of 46 rock chip samples targeting coincident gold-in-soil anomalies and outcropping quartz veins associated with major regional structures. Assays are pending, with the results to guide follow-up exploration and potential drilling of the highest-priority targets.

The Company’s immediate priorities across its Victorian gold projects are to assess the further high-grade potential at Happy Valley, continue mapping and sampling along the Magpie-Barwidgee trend, and receive and evaluate the Beaufort rock chip assay results to define priority drill targets.

About us:

ABOUT ADVANCE METALAS (ASX:AVM)

Advance Metals Limited (ASX: AVM) is an Australian mineral exploration company focused on discovering and advancing high-grade precious and base metals projects in tier-one mining jurisdictions. The Company’s portfolio includes the Myrtleford and Beaufort Gold Projects in Victoria, where it is pursuing high-grade gold discoveries within the prolific Victorian Goldfields, alongside its flagship Yoquivo Silver-Gold Project in Chihuahua, Mexico.

Contact details:

Jane Morgan Management
Investor & Media Relations
[email protected]