Avanti Gold Announces Closing of C$51.75 Million Bought Deal Private Placement

ALL FIGURES IN CANADIAN DOLLARS UNLESS OTHERWISE NOTED Vancouver, British Columbia--(Newsfile Corp. - September 23, 2026) - Avanti Gold Corp. (CSE: AGC) (FSE: X370) (OTCQB: AVTGF) (" Avanti " or the " Company ") is pleased to announce that the Company has closed its bought deal private placement of 103,500,000 units of the Company (each, a " Unit "), including 13,500,000 Units issued pursuant to the full exercise of the over-allotment option, at a price of $0.50 per Unit, for aggregate gross proceeds to the Company of $51,750,000 as previously announced on August 30, 2026 and August 31, 2026 (the " Offering ").

The Offering was led by SCP Resource Finance LP, as sole bookrunner and lead underwriter on behalf of a syndicate of underwriters including BMO Nesbitt Burns Inc. and Haywood Securities Inc. (the " Underwriters ").

Avanti Chief Executive Officer Mohamed Cisse said: "The completion of this financing places Avanti in a strong financial position to execute our planned 42,000-metre exploration program at the Misisi Project.

With six rigs dedicated to the program and a steady pipeline of exploration results expected through the remainder of 2026, we are well positioned to systematically advance drilling across Akyanga and our broader priority targets.

We are also pleased to welcome a number of new institutional and strategic investors to Avanti.

Their participation reflects growing recognition of the scale and exploration potential of the Misisi Project, and we appreciate the continued support of both new and existing shareholders.

This financing materially strengthens our balance sheet and provides the capital required to execute the next phase of our exploration strategy without compromising the pace of the program."

THE OFFERING Each Unit consists of one common share of the Company (a " Common Share ") and one-half of one common share purchase warrant (each whole warrant, a " Warrant ").

Each Warrant entitles the holder to purchase one Common Share at an exercise price of C$0.65 for a period of 36 months from the date of issuance thereof.

In consideration for the services provided by the Underwriters in connection with the Offering, the Company paid the Underwriters a cash fee equal to 6% of the gross proceeds of the Offering and issued an aggregate of 6,210,000 non-transferable broker warrants to the Underwriters (the " Broker Warrants ").

Each Broker Warrant is exercisable into one Common Share at a price of $0.50 for a period of 36 months from the date hereof.

The offering was conducted: (a) by way of private placement in the provinces of Canada (except for the Province of Quebec) pursuant to applicable exemptions from the prospectus requirements under applicable Canadian securities laws; (b) in the United States or to, or for the account or benefit of, U.S. persons, by way of private placement pursuant to the exemptions from the registration requirements provided for under the United States Securities Act of 1933, as amended (the " U.S. Securities Act "); and (c) in jurisdictions outside of Canada and the United States that were reasonably satisfactory to the Company on a private placement or equivalent basis, in each case in accordance with all applicable laws, provided that no prospectus, registration statement or other similar document was required to be filed in such jurisdiction.

The securities issued pursuant to the Offering to purchasers resident in Canada are subject to a four-month hold period in Canada pursuant to applicable Canadian securities laws and the policies of the Canadian Securities Exchange.

The Units issued to purchasers outside of Canada were issued pursuant to an exemption from the prospectus requirements in Canada available under ASC Rule 72-501 and, accordingly, are not subject to a four-month hold period in Canada.

Chief Executive Officer Mohamed Cisse, together with certain members of the Board and management (collectively, the " Insiders "), participated in the Offering alongside strategic...