Avanti Gold closes $25-million private placement

Sir Sam Jonah reports AVANTI GOLD ANNOUNCES CLOSING OF C$25 MILLION LIFE PRIVATE PLACEMENT Avanti Gold Corp. has closed its private placement offering of 50 million units of the company at a price of 50 cents per unit, for aggregate gross proceeds to the company of $25-million, as previously announced on Sept. 30, 2025, and Oct. 1, 2025. The offering was led by SCP Resource Finance LP, as lead agent and sole bookrunner, and a syndicate of agents, including Haywood Securities Inc., Canaccord Genuity Corp. and Raymond James Ltd. Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one share at an exercise price of 65 cents for a period of 36-months from the date of issuance thereof. The warrants issued pursuant to the offering will be subject to a restriction on exercise expiring 61 days from the date of issuance. Martin Pawlitschek, incoming chief executive officer, commented: "I am pleased to see strong investor interest in our upsized LIFE offering, which will provide us with the means to continue exploration efforts at the Misisi gold project, which has the potential to become a cornerstone asset in Africa. Our funded 2026 exploration program will focus on adding ounces at permitted areas along the 55-kilometre-long Kibara gold belt, including the Akyanaga deposit, which already has a 3.1-million-ounce inferred resource, and mineralized targets including Akyanga East, Ngalula, Lubitchako, Kilombwe and Tulonge. The company intends to use the net proceeds from the offering for the advancement of exploration efforts, including ground geophysics and drilling programs, at the Misisi gold project, located in the Democratic Republic of the Congo, which hosts a National Instrument 43-101-compliant inferred mineral resource of 41 million tonnes (t) at an average grade of 2.37 grams per tonne (g/t) containing 3.1 million ounces (oz) of gold. In addition, net proceeds will be used for working capital and general corporate purposes. The offering was conducted pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106, Prospectus Exemptions, as modified by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption, to purchasers resident in Canada, except Quebec, and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption. The securities issuable to purchasers resident in Canada from the sale of the units are expected to be immediately freely tradeable in accordance with applicable Canadian securities legislation. The units were also sold to purchasers in offshore jurisdictions and in the United States on a private placement basis pursuant to one or more exemptions from the registration requirements of the United States Securities Act of 1933, as amended. Swapan Kakumanu, interim chief executive officer, along with other board members and management, strategics, institutional investors, and high-net-worth individuals participated in the offering. Insiders are considered related parties of the company for the purposes of applicable securities laws and stock exchange rules. The subscription and issuance of units by the insiders constitute related party transactions but are exempt from the formal valuation and minority approval requirements of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, as neither the fair market value of the shares and warrants issued to each of the insiders, nor the consideration paid by such insiders, exceeds 25 per cent of the company's market capitalization. A material change report in connection with the participation of the insiders in the offering will be filed within 10 days of the closing of the offering. About Avanti Gold Corp. Avanti is a gold exploration company with a robust portfolio of projects in Africa. The company's flagship asset is the Misisi project in the Democratic Republic of the Congo (DRC), home to the Akyanga gold deposit. The Akyanga deposit has an inferred mineral resource of 44.3 million tonnes (t) at an average gold grade of 2.37 g/t), totalling 3.1 million oz of gold. The Misisi project spans three contiguous 30-year mining leases covering 133 square kilometres along the 55-kilometre-long Kibara gold belt, a prominent metallogenic province known for hosting significant gold deposits. Qualified person Ephraim Masibhera, a qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, has reviewed the scientific and technical information that forms the basis for this news release, and has approved the disclosure herein. Historical information contained in this news release cannot be relied upon as the company's qualified person, as defined under NI 43-101, has not prepared nor verified the historical information. We seek Safe Harbor.