Mr. Mohamed Cisse reports

AVANTI GOLD ANNOUNCES UPSIZE OF BOUGHT DEAL PRIVATE PLACEMENT TO C$45 MILLION

Avanti Gold Corp. has increased the size of its previously announced private placement as announced on Aug. 30, 2026, from $35-million to $45-million and the oversubscribed book is now closed.

The offering

The offering is led being led by SCP Resource Finance LP, as sole bookrunner and underwriter on behalf of a syndicate of underwriters, pursuant to which the underwriters have agreed to purchase, on a bought deal private placement basis, 90 million units of the company at a price of 50 cents per unit for aggregate gross proceeds of $45-million.

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 to purchase one common share at an exercise price of 65 cents for a period of 36 months from the date of issuance thereof.

The company has granted the underwriters an option to increase the size of the offering by up to 15 per cent, exercisable in whole or in part at any time up to 48 hours prior to closing. Closing is expected to occur on or about Sept. 22, 2026, or such other date as the company and the underwriters may agree and remains subject to customary conditions, including the receipt of all necessary regulatory approvals. In the event the option is fully exercised, the maximum gross proceeds raised under the offering will be $51.75-million.

As consideration for their services, the underwriters will receive a cash commission of 6.0 per cent of the gross proceeds of the offering. The underwriters may, at their sole and absolute discretion, subject to compliance with applicable securities laws, elect to receive a portion or all of their cash commission in units. In addition, the underwriters will receive broker warrants in an amount equal to 6.0 per cent of units sold, with each broker warrant exercisable to purchase one common share at the issue price for a period of three years from the closing date of the offering.

The units will be offered: (a) by way of private placement in one or more of the provinces of Canada (except for the province of Quebec) pursuant to applicable exemptions from the prospectus requirements under applicable Canadian securities laws; (b) in the United States or to, or for the account or benefit of, U.S. persons, by way of private placement pursuant to the exemptions from the registration requirements provided for under the United States Securities Act of 1933, as amended; and (c) in jurisdictions outside of Canada and the United States that are reasonably satisfactory to the company on a private placement or equivalent basis, in each case in accordance with all applicable laws, provided that no prospectus, registration statement or other similar document is required to be filed in such jurisdiction. The offering is subject to the policies of the Canadian Securities Exchange. The securities to be issued pursuant to the offering to purchasers resident in Canada will be subject to a four-month hold period in Canada pursuant to applicable Canadian securities laws and the policies of the exchange. The units will be offered to purchasers outside of Canada pursuant to an exemption from the prospectus requirements in Canada available under ASC Rule 72-501 and, accordingly, the securities to be issued pursuant to the offering to purchasers outside of Canada are not expected to be subject to a four-month hold period in Canada.

Certain insiders of the company may participate in the offering. Any such participation would constitute a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company intends to rely on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) thereof, as neither the fair market value of the securities purchased by the insiders nor the consideration paid is expected to exceed 25 per cent of the company's market capitalization.

Use of proceeds

Net proceeds of the offering will be applied to:

• The company's announced 42,000-metre 2026 drill program across the Misisi project, covering the Akyanga deposit and regional targets across the company's permit area;
• Advancement of the PEA on the Misisi project;
• General and administrative expenses;
• Working capital.

Accelerated exploration strategy

The company has adopted a phased exploration strategy designed to maximize drilling productivity while rapidly advancing resource growth:

• Expand the existing resource footprint;
• Upgrade confidence in the current resource;
• Test extensions of known mineralization;
• Generate geological data to support future resource growth.

Qualified person statement (1)

Ephraim Masibhera, BSc (geology) (UZ), MSc Cd, MGSSA, PrSciNat, technical director, at Kweneng Group, an independent qualified person as defined by National Instrument 43-101, has reviewed and approved the scientific and technical information contained in this news release. 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.

(1) As disclosed in the Misisi project Aug. 1, 2023, technical report, available on Avanti's website and on SEDAR+

About Avanti Gold Corp.

Avanti Gold is a gold exploration company focused on advancing its flagship Misisi project in the Democratic Republic of the Congo (DRC), home to the high-grade Akyanga gold deposit. The Akyanga deposit has an inferred mineral resource of 40.8 million tonnes (t) at an average gold grade of 2.37 grams per tonne (g/t), totalling 3.11 million ounces (oz) of gold. The Misisi project spans three contiguous 30-year mining leases covering 133 square kilometres (km) along the 55 km long Kibara gold belt, a prominent metallogenic province known for hosting significant gold deposits. A 42,000-metre (m) drill program, the largest in the project's history, is now under way with the objective of growing gold resources in advance of a PEA (preliminary economic assessment), which is expected to be published in 2027.

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