Avanti awaiting assay of Misisi historical drill core

Executive Summary

• Avanti Gold is currently assaying 2,100 meters of historical drill core from the Akyanga deposit, with results expected later this quarter to confirm continuity of high-grade mineralization along strike and downdip.
• The company has significantly expanded its 2026 exploration program from 15,000 meters to 42,000 meters of diamond drilling, split into two distinct phases.
• Phase 1 (15,000m) is fully financed by a LIFE private placement closed in October 2025 and is scheduled to commence in late Q1 2026, prioritizing the Akyanga and Akyanga East deposits.

Key Details

• Historical Core Assaying: 2,100 meters of historical drill core is undergoing fire assay testing at SGS in Mwanza, Tanzania (samples exported Jan 15, 2026; arrived Jan 23, 2026). Results are expected later this quarter.
• Targeted Zones: The 2,100m of samples (~10% of historic diamond drilling) specifically target the northwest extension and high-grade southern zones of the Akyanga deposit at depth.
• 2026 Program Expansion: Total exploration program increased from 15,000m to 42,000m of diamond drilling across three contiguous 30-year mining licenses.
• Phase 1 Details: ~15,000m of diamond drilling scheduled for late Q1 2026. Fully financed by the LIFE private placement closed Oct 23, 2025. Prioritizes Akyanga deposit expansion and Akyanga East deposit testing. Includes early exploration (ground truthing, sampling, mapping) on Ngalula, Tulonge, Lubitchako, and Kilombwe to guide Phase 2.
• Phase 2 Details: ~27,000m of diamond drilling scheduled for late Q3 2026. Will continue resource extensions at Akyanga and introduce drilling on high-priority satellite targets.
• Contractor Selection: Drilling service agreement expected to be signed in the coming weeks following a successful tender process and supplier site visits conducted in mid-January.
• Resource Context: Akyanga deposit hosts a NI 43-101 compliant inferred resource of 40.8M tonnes at 2.37 g/t Au (3.11M oz), based on 19,956m of historic drilling (105 DDH + 6 RC).
• Next Steps: Announcement of signed drilling/lab contracts, camp refurbishment to increase capacity, key in-country management appointments, release of assay results, and launch of the Phase 1 exploration program.