Mr. Adrian Smith reports

AVANTE CLOSES FLOW-THROUGH PRIVATE PLACEMENT

Avante Mining Corp. has closed a non-brokered private placement of three million flow-through common shares of the company, issued at a price of 15 cents per FT share, for aggregate gross proceeds of $450,000 to the company. Each FT share is issued as a flow-through share (within the meaning of Subsection 66(15) of the Income Tax Act (Canada)).

The gross proceeds of the private placement will be used by the company to incur eligible Canadian exploration expenses that will qualify as flow-through mining expenditures as such terms are defined in the Income Tax Act (Canada) related to the company's properties located in Newfoundland and Labrador, Canada, on or before Dec. 31, 2024. All qualifying expenditures will be renounced in favour of the subscribers, effective Dec. 31, 2023.

All securities issued pursuant to the private placement are subject to a hold period of four months plus one day from the date of issuance and the resale rules of applicable securities legislation, which will expire on Jan. 2, 2024.

The closing of the private placement is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.

In connection with the private placement, the company paid finders' fees of $45,000 in cash and issued 300,000 non-transferable finders' warrants to an eligible arm's-length party. Each finder's warrant is exercisable to acquire one additional common share in the capital of the company at an exercise price of 15 cents per common share for a period of two years from closing.

About Avante Mining Corp.

Avante Mining (TSX Venture Exchange: AVA) is a mining exploration company focused on developing high-value geographically significant projects, including the Voisey's West. Avante is paving the way by combining quality projects with proven exploration strategies and a dedicated team to achieve exceptional outcomes.

The Voisey's West is located in the same intrusive complex as the world-class Voisey's Bay nickel mine, where reported remaining proven and probable reserves include 32.4 million tonnes of 2.13 per cent nickel, 0.96 per cent copper and 0.13 per cent cobalt, and additional measured and indicated resources include 10.3 million tonnes of 0.87 per cent nickel, 0.65 per cent copper and 0.04 per cent cobalt. It represents one of the most competitive nickel operations globally.

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