Mr. Adrian Smith reports

AVANTE MINING CLOSES OPTION AGREEMENT TO ACQUIRE PIPESTONE SOUTH PROPERTY

Avante Mining Corp. has closed the previously announced option agreement dated Jan. 6, 2024, with Darrin Hicks, an arm's-length party to the company (the optionor) and issued 150,000 common shares at a deemed price of six cents per share and paid $5,000 to the optionor. The shares are subject to a statutory hold period of four months and one day from issuance in accordance with Canadian securities laws that will expire on June 2, 2024.

Adrian Smith, chief executive officer of Avante, comments: "we are pleased to continue to increase our land position in this highly prospective belt of nickel-bearing ultramafic rocks. We have initiated a regional compilation program to take advantage of exploration work previously completed in the region primarily for copper gold and chromium which overlooked the significant bulk-tonnage nickel potential identified by Cliffs Natural Resources Canada in 2012. Currently, deposits occurring in similar geology and being advanced by companies such as FPX Nickel Corp. and Canada Nickel Company Inc. are being recognized by major battery manufacturers, steel makers and governments who recognize the potential for long-term, stable and clean source of nickel."

Under the terms of the option agreement the company has the right to acquire a 100-per-cent undivided legal and beneficial interest in five mapped staked claims comprising 18 cells (the Pipestone South property) adjoining the Pipestone project, by making cash payments of $55,000 and issuing an aggregate of 800,000 common shares over a period of three years. The property is ideally located in central Newfoundland with road access to the north and south; it also has access to a hydroelectric power station 15 kilometres south of the property.

The vendor will retain a royalty equal to 2 per cent of net smelter return (NSR). The company shall have the right to buy back three-quarters of the royalty equal to 1.5-per-cent NSR for $1-million at any time. If, by mutual agreement of all parties, common shares of the optionee are issued in lieu of cash, the cash amount that would otherwise have been payable shall be converted to common shares of the optionee at a price five cents per common share.

Disclosure

Mr. Smith, PGeo, is a qualified person as defined by National Instrument 43-101. The qualified person is a member in good standing of the Professional Engineers and Geoscientists Newfoundland and Labrador (PEGNL) and is a registered professional geoscientist (PGeo). Mr. Smith has reviewed and approved the technical information disclosed herein.

About Avante Mining Corp.

Avante Mining is a mining exploration company focused on developing high-value geographically significant projects, including 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 company's Voisey's West project 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, 0.13 per cent cobalt, and additional measured and indicated 10.3 million tonnes of 0.87 per cent nickel, 0.65 per cent copper, 0.04 per cent cobalt. It represents one of the most competitive nickel operations globally.

The Pipestone project represents one of the rare awaruite projects globally which are a focus in the development of large-scale bulk-tonnage nickel targets that have low carbon emission profiles and are very attractive to steel produces looking to reduce their carbon output.

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