Damage is suffered at combat step 6 and 'advance' happens at step 11. See 'combat' entry on pages 2-3 of the reference book.
Graveyard hex states:
When a friendly minion unit is eliminated, the player may spend one lore to immediately deploy that unit in any friendly unoccupied graveyard hex.
By my reading of the rules I would think that graveyard revive happens immediately after combat step 6, before combat step 11. Therefore you couldn't advance.
There might be something I'm missing but right now it seems pretty clear to me.