Mr. Colin Porter reports

AVANTI GOLD CORP. APPOINTS MARTINO De CICCIO AS SENIOR ADVISOR

Effective Feb. 15, 2024, Martino De Ciccio has been appointed as a senior adviser to Avanti Gold Corp.

Mr. De Ciccio commented, "I am pleased to join the advisory board of Avanti Gold, alongside mining veterans such as Sir Samuel Jonah, Robert Cross and Paul Matysek, given our shared belief that the Democratic Republic of the Congo hosts significant potential for the discovery of world-class mineral properties."

About Martino De Ciccio

Mr. De Ciccio has over 15 years of experience in mining industry with a strong value creation record and significant knowledge across strategy, capital markets, corporate finance and ESG (environmental, social and governance), coupled with a profound understanding of the African mining landscape.

Mr. De Ciccio currently serves as deputy chief financial officer and Head of Investor Relations at Endeavour Mining (EDV: TSX), a position he assumed in January, 2023, from which he will be stepping down from in mid-February to pursue other opportunities. He joined Endeavour Mining in 2015 as vice-president, strategy and investor relations, and played a pivotal role in Endeavour's transformation from a $250-million market cap to a FTSE100 company and one of the largest gold producers in the world, garnering over 25 investor relations achievement nominations, including repeatedly winning best across all sectors.

Prior to joining Endeavour, Mr. De Ciccio played a key role in growing La Mancha Resources from a $20-million market cap which culminated into a $500-million take private offer. As strategy and business development manager, he then helped lead the private company's transformation from an emerging gold producer into one of the largest gold investment funds with cornerstone holdings in Evolution Mining and Endeavour, which was recognized with an emerging leader award.

Mr. De Ciccio currently serves on the board of Northisle Copper and Gold (NCX: TSX-V) and Bluestone Resources (BSR: TSX-V).

Martino earned a BCom in finance from McGill University and is a CFA charterholder.

Avanti Gold further announces that it has granted a total of 1,735,000 stock options to purchase common shares of the company to certain consultants pursuant to the company's stock option plan. Such options are exercisable into common shares of the company at an exercise price of 22 cents per common share for a period of five years from the date of grant. The options vest one-quarter immediately and one-quarter biannually thereafter. All of the options expire on Feb. 8, 2029.

In addition, the company has issued a total of 2.6 million restricted share units (RSUs) to certain consultants of the company in accordance with the company's omnibus equity incentive plan. Once vested, each RSU represents the right to receive one common share of the company or the equivalent cash value thereof at the company's discretion.

About Avanti Gold Corp.

Avanti Gold is a mineral exploration company working on a Tier 1 gold opportunity in the Democratic Republic of the Congo (DRC), located in the Fizi territory of South Kivu province in the DRC. The Misisi gold project has a contained inferred mineral resource of three million ounces of gold as reported in the company's National Instrument 43-101 technical report on the Misisi gold project.

The project is located 250 kilometres south of Bukavu, the provincial capital of the South Kivu province, in the DRC. The project comprises three contiguous 30-year mining leases, valid until 2045, covering 133 square kilometres of prospective exploration ground along the 55-kilometre-long Kibara gold belt. The Kibara belt is a well-known metallogenic province and hosts several other deposits, including the Twangiza (5.1 million ounces Au, source: S&P Global) and Namoya (1.9 Moz, source: S&P Global) gold mines. The project is host to the Akyanga deposit, which is the subject to an inferred resource of 40.8 million tonnes at an average grade of 2.37 grams per tonne of gold containing 3.11 million ounces.

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.

This news release also includes references with respect to the Twangiza (5.1 Moz oz Au, source: S&P Global) and Namoya (1.9 Moz, source: S&P Global) gold mines, which are located near the Misisi gold project. The company advises that, notwithstanding their proximity of location, discoveries of minerals on such properties, any promising results thereof are not necessarily indicative of the mineralization of, or located on the Misisi gold project, or the company's ability to commercially exploit the minerals claims which comprise the property or to locate any commercially exploitable deposits therefrom.