Avante Mining Corp. announced that it has entered into an option agreement dated November 7, 2023 with SSAF Collective, an arm's length optionor group to the Company, whereby the Optionor has granted the Company the right to acquire a 100% undivided legal and beneficial interest in nine (9) mineral licenses consisting of 161 mineral claims located in central Newfoundland. Project Highlights: The Pipestone Project consists of 161 claims encompassing 40.25 square kilometres of ground; Out-cropping awaruite (Ni3Fe) is an environmentally friendly, low sulfide, nickel-iron alloy that can be direct smelted in the stainless-steel making process; Awaruite is a green metal for a low carbon world; Good infrastructure with existing road access extending onto the Property and a hydroelectric generating station located 20km south of the Property; Exploration work at the Property will start this fall/winter.

Pipestone Project history: Awaruite was first discovered and delineated on the Pipestone Project between 2009-2012 in which it was positively identified within the ultramafic rocks during industry efforts and academic research. The original discovery claims were dropped in 2012 during a period of low nickel prices and tough financing conditions in exploration business. Since then, little work has been completed until recently when the NL Minerals Collective consolidated the Property area with multiple independent claim owners and has further refined the understanding of the distribution of awaruite at the Property which will allow for a quick resumption of exploration by the Company this fall/winter 2023.

Awaruite presents Avante with the opportunity to explore a bulk tonnage "green" nickel source within the extensive Newfoundland ophiolitic rocks. While awaruite is a relatively new nickel exploration target, awaruite deposits have been legitimized by technical work on FPX's PFS level Baptiste Project. The Baptiste Project has been validated by investment from the Canadian government, Finish steel producer, Outokumpu and Japanese JOGMEC.

These FPX partners validate awaruite exploration and development as part of the green metals revolution and a focus for investment. The Agreement: to earn a 100% interest in and to the Property, Avante must pay to the Optionor a total of $380,000 and issue to the Optionor 4,000,000 common shares over a period of four (4) years. The Company must also incur an aggregate of $1,500,000 in expenditures or the expenditures required to keep the Property in good standing, on or before the fourth anniversary of the Effective Date of the Option Agreement.

The Property is subject to a 2% NSR royalty. Avante retains the right to buy back half the royalty equal to 1.0% NSR for $3.5 Million at any time prior to the commencement of commercial production at the Property. The Option Agreement and proposed Share issuances remain subject to approval by the TSX Venture Exchange.

All security issuances will be subject to a statutory hold period of 4 months and one day from issuance in accordance with Canadian securities laws. No finders' fees were paid on this arm's length Option Agreement.