Mr. Zeeshan Syed reports

AVALON OVERHAULS LEADERSHIP TEAM TO COMPETE IN GLOBAL LITHIUM RACE

As part of its strategic transformation to become a leading North American vertically integrated lithium producer, Avalon Advanced Materials Inc. has appointed three veteran executives to its leadership team, a key milestone as the company executes on an ambitious growth plan.

• Scott Monteith will assume control as interim chief executive officer;
• Jim Jaques will serve as the company's inaugural chief administrative officer;
• Jan Holland will join the board of directors.

"These appointments, and others to come, underscore the arrival of Avalon 2.0," said Zeeshan Syed, Avalon president. "The commitment of our new leadership team is clear: reorient the company towards full vertical integration of the lithium production cycle, and help establish Ontario, and Canada more broadly, as a strategic fulcrum in North America's clean energy transition."

All appointments are effective immediately, as the company initiates a new growth phase consisting of transformational developments to be announced in the weeks and months ahead.

Avalon also announces that, following a long and successful tenure with the company, Donald Bubar, former president and chief executive officer, has decided to step down from the board of directors. Avalon would like to thank him for his years of service.

"We're assembling a new execution-focused team of deeply experienced professionals aligned around transforming Avalon into a world-class lithium producer, and in turn, helping ensure the path to a clean energy future runs through Canada," Mr. Monteith said.

New strategic vision

Avalon's new strategic goals are focused on both organic growth of its lithium portfolio, consisting of a suite of critical-mineral mining projects across Canada, as well as developing new related opportunities. The company's mission is to vertically integrate lithium processing within Ontario, positioning the province as an integral part of the North American supply chain for electric vehicle (EV) batteries.

In the weeks ahead, Mr. Monteith and the leadership team expect to implement key steps in its phase 1 strategy, including:

1. Advance production and capitalization for the Separation Rapids project in Northwestern Ontario;
2. Establish a best-in-class lithium-hydroxide facility in Thunder Bay, Ont.;
3. Identify non-core assets that fall outside the scope of the company's focus on the first two business objectives.

"I'm tremendously excited about the opportunity set I see before us. Avalon has a new mission we're starting to share with investors and Canada's broader capital markets community," Mr. Monteith said.

Mr. Syed added: "Under our new leadership team, Avalon sees and understands what's required to make Ontario and Canada leaders in this critically important space, and to establish Avalon's position within it. We are putting the pieces in place to achieve our vision."

About the new leadership team members

Mr. Monteith is an experienced clean-tech executive and entrepreneur with a successful record of moving inventions from ideation to commercial success. Mr. Monteith has extensive experience in the areas of marketing, manufacturing, technology transfer, technology licensing, new product development, patent management, corporate development, international business, mergers and acquisitions (M&A), investing, government affairs, board governance, and strategic planning. Mr. Monteith is currently the chair of Monteco Ltd., Cable House Capital Corp. and Imtex Membranes Corp.

In the newly created role of chief administrative officer, Mr. Jaques will report to the CEO and be responsible for the company's overall administration, marketing, corporate communications, human resources and information technology. A former marketing and sales executive with Bell Canada Inc., Mr. Jaques spent part of his career in senior leadership positions at both Merrill Lynch and Citibank (Australia). For the past several years, he has been a management consultant based in Toronto, working with both public and private sector organizations to help them drive revenue growth, new product innovation, strategic partnerships and secure growth capital financing.

Mr. Holland brings 35 years of experience in building and reorganizing businesses across an array of Canadian industries, from aerospace to financial services. For the past decade, he has been chair and CEO of a leading Canadian aerospace parts manufacturer, transforming its business operations through a multiphase revitalization and enabling expansion into new markets. Mr. Holland has been a founding partner or director with multiple financial services firms, including Tricycle Asset Management and BMO Nesbitt Burns, respectively, raising a combined $2-billion in assets under management by pioneering innovative offerings, such as managed futures products and structured notes. His knowledge of capital markets and wealth of experience will be valued contributions to Avalon's new strategic direction.

About Avalon Advanced Materials Inc.

Avalon Advanced Materials is a Canadian mineral development company aimed at vertically integrating North America's lithium supply chain. The company is currently focusing on developing its Separation Rapids lithium project near Kenora, Ont., while continuing to advance other projects, including its 100-per-cent-owned Lilypad spodumene-cesium-tantalum project located near Fort Hope, Ont. Social responsibility and environmental stewardship are corporate cornerstones.

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