Mr. Mohamed Cisse reports

AVANTI GOLD ANNOUNCES CLOSING OF C$51.75 MILLION BOUGHT DEAL PRIVATE PLACEMENT

Avanti Gold Corp. has closed its bought deal private placement of 103.5 million units of the company, including 13.5 million units issued pursuant to the full exercise of the overallotment option, at a price of 50 cents per unit, for aggregate gross proceeds to the company of $51.75-million as previously announced on Aug. 30, 2026, and Aug. 31, 2026. The offering was led by SCP Resource Finance LP, as sole bookrunner and lead underwriter on behalf of a syndicate of underwriters including BMO Nesbitt Burns Inc. and Haywood Securities Inc.

Avanti chief executive officer Mohamed Cisse said: "The completion of this financing places Avanti in a strong financial position to execute our planned 42,000-metre exploration program at the Misisi project. With six rigs dedicated to the program and a steady pipeline of exploration results expected through the remainder of 2026, we are well positioned to systematically advance drilling across Akyanga and our broader priority targets. We are also pleased to welcome a number of new institutional and strategic investors to Avanti. Their participation reflects growing recognition of the scale and exploration potential of the Misisi project, and we appreciate the continued support of both new and existing shareholders. This financing materially strengthens our balance sheet and provides the capital required to execute the next phase of our exploration strategy without compromising the pace of the program."

The offering

Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each warrant entitles 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.

In consideration for the services provided by the underwriters in connection with the offering, the company paid the underwriters a cash fee equal to 6 per cent of the gross proceeds of the offering and issued an aggregate of 6.21 million non-transferable broker warrants to the underwriters. Each broker warrant is exercisable into one common share at a price of 50 cents for a period of 36 months from the date hereof.

The offering was conducted: (a) by way of private placement in 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 U.S. Securities Act of 1933, as amended; and (c) in jurisdictions outside of Canada and the United States that were 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 was required to be filed in such jurisdiction. The securities issued pursuant to the offering to purchasers resident in Canada are subject to a four-month hold period in Canada pursuant to applicable Canadian securities laws and the policies of the Canadian Securities Exchange. The units issued to purchasers outside of Canada were issued pursuant to an exemption from the prospectus requirements in Canada available under ASC Rule 72-501 and, accordingly, are not subject to a four-month hold period in Canada.

Chief executive officer Mr. Cisse, together with certain members of the board and management, participated in the offering alongside strategic investors, institutional investors and high-net-worth individuals. 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 common 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. The company did not file a material change report more than 21 days before the expected closing of the offering because the details of the participation therein by the insiders were not settled until shortly prior to closing of the offering, and the company wished to close on an expedited basis for business reasons. 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.

The net proceeds of the offering will be used for 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 a maiden preliminary economic assessment on the Misisi project, and general and administrative expenses, and working capital purposes.

Qualified person statement

Ephraim Masibhera, BSc in geology (UZ), MSc Cd, MGSSA, PrSciNat technical director, at Kweneng Group, an independent qualified person as defined by NI 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 National Instrument 43-101, has not prepared nor verified the historical information.

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, home to the high-grade Akyanga gold deposit. The Akyanga deposit has an inferred mineral resource of 40.8 million tonnes at an average gold grade of 2.37 grams per tonne, totalling 3.11 million ounces 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. A 42,000-metre drill program, the largest in the project's history, is under way with the objective of growing gold resources in advance of a preliminary economic assessment, which is expected to be published in 2027.

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