Mr. Phil Russo reports

TOUBANI RESOURCES ANNOUNCES CLOSING OF ACQUISITION OF 19.9% INTEREST IN AVANTI GOLD

Further to Toubani Resources Ltd.'s press release dated June 29, 2026, the company has completed the acquisition of an aggregate of 44,530,350 common shares of Avanti Gold Corp. at a price of approximately 65 cents per common share pursuant to the terms of certain share purchase agreements entered into by Toubani and certain vendors of the common shares.

As consideration for the common shares, Toubani issued an aggregate of 72,893,944 ordinary shares of Toubani at a deemed price of 40 Australian cents per consideration share, and will grant 36,446,972 options of Toubani. Each consideration option will entitle the holder to subscribe for one fully paid ordinary share of Toubani at an exercise price of 60 Australian cents per share, and expires three years from the date of issue.

The transactions closed on July 17, 2026.

Prior to completion of the transactions, Toubani was deemed to beneficially own and exercise control and direction over any common shares as a result of entering into the purchase agreements. Following completion of the transactions, Toubani now beneficially owns and exercises control and direction over 44,530,350 common shares, representing approximately 19.9 per cent of the issued and outstanding common shares.

The common shares were acquired for investment purposes. Toubani may acquire additional securities of Avanti Gold, including on the open market or through private acquisitions, or sell securities of Avanti Gold, including on the open market or through private dispositions, in the future depending on market conditions, reformulation of plans and/or other relevant factors. Toubani currently has no other plans or intentions that relate to or would result in the matters listed in clauses (b) to (k) of Item 5 of the early warning report filed by Toubani. Depending on market conditions, general economic and industry conditions, Avanti Gold's business and financial condition and/or other relevant factors, Toubani may develop such plans or intentions in the future.

A copy of an amended early warning report with respect to the foregoing will appear on Avanti Gold's profile on SEDAR+.