An anonymous director reports

AVANTI HELIUM CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT FOR $676,908

Further to its press releases dated March 20, 2024, and April 4, 2024, Avanti Helium Corp. has closed the first tranche of its previously announced non-brokered private placement of units of the company by issuing 1,692,269 units at a price of 40 cents per unit for aggregate gross proceeds of $676,908. Each unit comprises one common share of the company and one share purchase warrant, with each warrant exercisable to acquire one additional share at an exercise price of 60 cents per warrant share until April 9, 2025.

In connection with the first tranche, the company paid and issued an aggregate of $31,380 and 78,450 share purchase warrants in finders' fees. Each finder's warrant is exercisable to acquire one share at an exercise price of 60 cents per finder warrant share until April 9, 2025.

All securities issued under and in connection with the offering are subject to a statutory hold period expiring on Aug. 10, 2024, in accordance with applicable securities laws and the policies of the TSX Venture Exchange.

The company expects to close the second tranche of the offering shortly. The offering remains subject to all necessary approvals, including final acceptance by the exchange.

An insider of the company is expected to participate in the second tranche, and such participation would be considered to be a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that the participation in the offering by the insider will not exceed 25 per cent of the fair market value of the company's market capitalization.

The net proceeds of the offering will be used for various work related to the company's helium recovery plant located on the Sweetgrass pool in Montana and for general working capital.

About Avanti Helium Corp.

Avanti is focused on the exploration, development and production of helium across Western Canada and the United States. Avanti's professional oil and gas exploration and production team is actively targeting helium trapped in structures to help meet the increasing global demand for an irreplaceable and scarce element critical to advanced technology, medical and space exploration industries.

We seek Safe Harbor.