Avanti Gold Corp. Appoints Martino De Ciccio as Senior Advisor

Grants Options and RSU's

Vancouver, February 9, 2024 - Avanti Gold Corp. (CSE: AGC) (FSE: X370) (the "Company") is pleased to announce that, effective February 15, 2024, Martino De Ciccio has been appointed as a senior advisor to the Company.

Martino De Ciccio commented: "I am pleased to join the advisory Board of Avanti Gold, alongside mining veterans such as Sir Samuel Jonah, Robert Cross, and Paul Matysek, given our shared belief that the Democratic Republic of the Congo hosts significant potential for the discovery of world-class mineral properties."

About Martino De Ciccio

Martino De Ciccio has over 15 years of experience in mining industry with a strong value creation track record and significant knowledge across strategy, capital markets, corporate finance, and ESG, coupled with a profound understanding of the African mining landscape.

Martino De Ciccio currently serves as Deputy CFO and Head of Investor Relations at Endeavour Mining (TSX: EDV), a position he assumed in January 2023, from which he will be stepping down from in mid-February to pursue other opportunities. He joined Endeavour Mining in 2015 as Vice President, Strategy and Investor relations and played a pivotal role in Endeavour's transformation from a $250 million market cap to a FTSE100 company and one of the largest gold producers in the world, garnering over 25 investor relations achievement nominations, including repeatedly winning best across all sectors.

Prior to joining Endeavour, Martino played a key role in growing La Mancha Resources from a $20 million market cap which culminated into a $500 million take-private offer. As Strategy and Business Development Manager, he then helped lead the private company's transformation from an emerging gold producer into one of the largest gold investment funds with cornerstone holdings in Evolution Mining and Endeavour, which was recognized with an Emerging Leader Award.

Martino currently serves on the Board of Northisle Copper and Gold (TSXV: NCX) and Bluestone Resources (TSXV: BSR).

Martino earned a B.Com in Finance from McGill University and is a CFA charterholder.

Avanti Gold Corp. further announces that it has granted a total of 1,735,000 stock options ("Options") to purchase common shares of the Company to certain consultants pursuant to the Company's Stock Option Plan. Such Options are exercisable into common shares of the Company at an exercise price of $0.22 per common share for a period of five years from the date of grant. The Options vest 1/4 immediately and 1/4 bi-annually thereafter. All of the Options expire on February 8, 2029.

In addition, the Company has issued a total of 2,600,000 restricted share units ("RSUs") to certain consultants of the Company in accordance with the Company's Omnibus Equity Incentive Plan. Once vested, each RSU represents the right to receive one common share of the Company or the equivalent cash value thereof at the Company's discretion.

About Avanti Gold Corp.

Avanti Gold Corp. is a mineral exploration company working on a Tier-1 gold opportunity in the Democratic Republic of the Congo ("DRC"), located in the Fizi territory of South Kivu province in the DRC. The Misisi Gold Project (or the "Project") has a contained Inferred Mineral Resource of 3 million ounces of gold as reported in the Company's National Instrument 43-101 technical report on the Misisi Gold Project (the "Technical Report").

The Project is located 250 kilometres south of Bukavu, the provincial capital of the South Kivu Province, in the DRC. The Project is comprised of three contiguous 30-year mining leases, valid until 2045, covering 133 square kilometres of prospective exploration ground along the 55-kilometre-long Kibara Gold Belt. The Kibara Belt is a well-known metallogenic province and hosts several other deposits, including the Twangiza (5.1 Moz oz Au, source: S&P Global) and Namoya (1.9 Moz, source: S&P Global) gold mines. The Project is host to the Akyanga deposit, which is the subject to an Inferred Resource of 40.8 million tonnes at an average grade of 2.37 grams per tonne of gold containing 3.11 million ounces.

Qualified Person

Ephraim Masibhera, a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein. Historical information contained in this news release cannot be relied upon as the Company's Qualified Person, as defined under NI 43-101 has not prepared nor verified the historical information.

This news release also includes references with respect to the Twangiza (5.1 Moz oz Au, source: S&P Global) and Namoya (1.9 Moz, source: S&P Global) gold mines, which are located near the Misisi Gold Project. The Company advises that, notwithstanding their proximity of location, discoveries of minerals on such properties, any promising results thereof are not necessarily indicative of the mineralization of, or located on the Misisi Gold Project, or the Company's ability to commercially exploit the minerals claims which comprise the property or to locate any commercially exploitable deposits therefrom.

On behalf of the Board of Directors

Colin Porter
Chief Executive Officer

Email: info@avantigoldcorp.com
Office: +1 (604) 908-1679

Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/197410