Mr. Scott Monteith reports

AVALON ANNOUNCES CONCLUSION OF FUNDING AGREEMENT

Avalon Advanced Materials Inc. has concluded its convertible security financing agreement with Lind Global Fund II LP, managed by The Lind Partners, a New York-based institutional fund manager, having satisfied all obligations due under the agreement.

"Avalon is extremely appreciative of Lind's support over the last eight years, providing over $15-million of invested capital," said Scott Monteith, president and chief executive officer of Avalon. "Concluding the funding marks another step forward and reflects our commitment to prudent capital management and long-term shareholder value creation. Avalon continues to transition into a new phase -- one focused on strategic partnerships, disciplined execution, and the continued advancement of our rare earth and lithium initiatives."

About The Lind Partners

The Lind Partners manages institutional funds that are leaders in providing growth capital to small- and mid-cap companies publicly traded in the United States, Canada, Australia and the United Kingdom. Lind's multistrategy funds make direct investments ranging from $1-million (U.S.) to $30-million (U.S.), invest in syndicated equity placements and selectively buy on market. Having completed more than 200 direct investments totalling over $2-billion (U.S.) in transaction value, Lind's funds have been flexible and supportive capital partners to investee companies since 2011.

About Avalon Advanced Materials Inc.

Avalon Advanced Materials is a Canadian critical minerals company advancing the supply of materials essential to a resilient North American supply chain. The company is focused on developing strategic assets that support secure, domestic supply chains and long-term economic growth. Avalon is advancing the Nechalacho rare earth element and zirconium project in the Northwest Territories, which contains all light and heavy rare earth elements, as well as yttrium, zirconium, tantalum and niobium -- critical minerals used in advanced technologies across the communications, defence, clean tech and energy sectors. The company is also focused on vertically integrating the Ontario lithium supply chain through the development of Lake Superior Lithium Inc., Ontario's first mid-stream lithium hydroxide processing facility, located in Thunder Bay. This facility will serve as a vital link between Northern Ontario's lithium resources and the growing EV (electric vehicle) battery manufacturing base in Southern Ontario and North America. Through a joint venture with SCR Sibelco NV, Avalon is advancing the Separation Rapids lithium project near Kenora, Ont., as well as continuing exploration at its Snowbank lithium and Lilypad lithium-cesium deposits.

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