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AVANTI GOLD CORPORATION ANNOUNCES UPDATE AFTER SITE VISIT TO MISISI PROJECT

August 9, 2023


AVANTI GOLD CORPORATION (CSE: AGC) (Frankfurt: X37) (the “Company” or “Avanti”) is pleased to announce an update following a site visit to Misisi Project.


CEO Dr Colin Porter and board member Mata Botama recently conducted a site visit to the Misisi Project to engage with local communities and assess the current status of logistics and infrastructure at the project.


Several constructive meetings took place with senior community representatives, local and district chiefs, and leaders of the local artisanal miners’ cooperative (Sycomines).


The airstrip at Lulimba was found to be in excellent condition and roads to Misisi town and the field camp were all passable. The camp itself is in good condition with all accommodation and catering facilities fully functional as well as the electricity supply. Some minor remedial work will be required. Access roads to the Akyanga project area are good.


Samples from a 2,200m drilling by the previous operator remain on site and have not been assayed. The integrity of the samples was assessed and overall condition is considered to be good. These samples will be dispatched for assay as a priority. Results will assist in further definition and updated classification of the Akyanga Hill resource.


Phase 1 drill planning has been completed with a view to further upgrading of the Akyanga inferred resource by infill drilling and exploration drilling on the Akyanga East target which lies 800m to the east of the main resource. An initial 14,000m of drilling has been planned and contractors identified.


CEO Dr Colin Porter commented: “The site visit to Misisi was extremely productive and we were pleased with the condition and amount of existing infrastructure at Misisi. All engagements with the community were extremely positive and the benefits of Avanti returning to the area to commence an organised exploration programme were discussed with and supported by the community and Sycomines. Avanti look forward to continuing to build positive relationships with all local stakeholders as we progress our exploration programme in the near future.”


About Avanti Gold Corporation


Avanti Gold Corporation 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 3.11 million ounces of gold as reported in the Company’s National Instrument 43-101 technical report on the Misisi Gold Project (the “Technical Report”) filed on Sedar+ on August 4, 2023.


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 a number of 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 Inferred Resource of 40.8 million tonnes at an average grade of 2.37 grams per tonne 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.


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.


For more information on the Misisi Gold Project, please refer to the Technical Report filed under the Company’s profile on SEDAR+.


On behalf of the Board of Directors


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.



AVANTI - News Release - Update to the Misisi Project August 9 2023
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