Vancouver, British Columbia–(Newsfile Corp. – April 23, 2026) – Avanti Gold Corp. (CSE: AGC) (FSE: X370) (OTCQB: AVTGF) ("Avanti" or the "Company") is pleased to announce that it has commenced drilling activities at its flagship Misisi Gold Project in the Democratic Republic of Congo ("DRC").
Two diamond drill rigs are currently active on site (See Figure 1) with activities set to further ramp-up as two additional rigs expected to be mobilized in the coming weeks. The drill programme is expected to total 42,000-metre of drilling and is designed to grow the current resource base while systematically testing targets across the 55-kilometre Kibara Gold Belt, where the Akyanga deposit already hosts an NI 43-101 compliant Inferred Mineral Resource of 40.8 million tonnes at 2.37 g/t gold containing 3.1 million ounces. At least 6 high priority targets are expected to be drill tested. Results will be reported on an ongoing basis throughout 2026.
Mohamed Cisse, Chief Executive Officer of Avanti, commented: "Misisi is one of DRC’S most compelling undeveloped gold systems, located on a highly prospective and largely unexplored 55-kilometre belt, and we are thrilled to have relaunched drilling after nearly a decade without significant activity.
Phase 1 focuses on expanding and upgrading the existing resource, while Phase 2 introduces multiple new targets across the broader Misisi belt that have not been previously drilled. With four rigs operational in the coming weeks and 42,000 metres planned across two phases, this is the most significant exploration campaign in the Company’s history and the first step in defining the broader scale of the Misisi system."
Figure1: Drill Rigs at Misisi
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ABOUT THE MISISI PROJECT
The Misisi Project site is located in the Fizi territory of South Kivu province, in the DRC, approximately 250 kilometres south of Bukavu and 180 kilometres north of Kalemie. The project comprises three contiguous 30-year mining leases covering 133 square kilometres along the 55-kilometre Kibara Gold Belt.
The Akyanga Deposit, located centrally in the Misisi Project, hosts an NI 43-101 compliant Inferred Mineral Resource of 40.8 million tonnes averaging 2.37 g/t gold, containing 3.11 million ounces, which was based on 19,956 meters of historic drilling, including 105 diamond drillholes ("DD") totalling 19,070 meters and six reverse circulation ("RC") drillholes totalling 887 meters. The resource extends from surface to a vertical depth of 350 metres over a strike length of approximately 2,100 metres, using a $1,500/oz pit shell. The mineralisation remains open at depth and along strike.
The 2026 exploration program comprises approximately 42,000 metres of diamond and RC drilling across two phases, as outlined in Table 1 below.
Table 1: 2026 Misisi Project Drilling Programme – meterage by target
| Trend Name | Phase 1 Drilling (Apr – July 2026) |
Phase 2 Drilling (Aug – Dec 2026) |
2026 Drilling | |||
| Akyanga | 12,500m | 83% | 14,500m | 55% | 27,000m | 64% |
| Akyanga East | 2,500m | 17% | 2,000m | 7% | 4,500m | 11% |
| Ngalula | – | – | 3,500m | 13% | 3,500m | 8% |
| Tulonge | – | – | 2,000m | 7% | 2,000m | 5% |
| Lubitchako | – | – | 2,500m | 9% | 2,500m | 6% |
| Kilombwe | – | – | 2,500m | 9% | 2,500m | 6% |
| Total Planned Meters Drilled | 15,000m | 100% | 27,000m | 100% | 42,000m | 100% |
| Note: Totals may not sum due to rounding | ||||||
Phase 1 targets approximately 15,000 meters of diamond and reverse circulation drilling at Akyanga and Akyanga East. The programme prioritizes an increased footprint expansion at Akyanga and high-priority target testing at Akyanga East, which is located 500 metres east of the main deposit and has returned historic intercepts with grades consistent with the high-grade core of Akyanga. Ground truthing, sampling, and mapping on the four Phase 2 targets- Ngalula, Tulonge, Lubitchako and Kilombwe, will be conducted concurrently to optimize Phase 2 drill targeting.
Phase 2, expected to commence in Q3 2026, will include approximately 27,000 metres of drilling across those four additional targets along the broader Misisi belt, while continuing to test extensions at Akyanga and introducing drilling onto the high priority targets. The phased approach allows for systematic target development while ramping up drilling capacity across the broader belt.
NEXT STEPS
A number of activities are currently underway to support sustained exploration activities, as described below. Our focus is on maintaining the highest standards of safety and performance as drilling is underway.
- Geological Logging & Sampling Workflow: a team of geologists have been mobilized to site, and will conduct core logging (lithology, structure, alteration) and sampling and QA/QC protocols.
- Stakeholder & Community Engagement: Maintain communication with local communities and authorities.
- Mobilization of two additional drill rigs to Misisi: The drilling contractor is in the process of mobilizing two additional drilling rigs to site, expected to arrive in Kalemie in the coming weeks
- Site Preparation for Additional Rigs: While the first two rigs are operating, preparation for the incoming rigs will include:
- Construction of additional drill pads
- Ensuring access roads are ready
- Expansion of water and fuel storage
- Scaling up camp capacity and workforce
CORPORATE UPDATE
Following a comprehensive review of director compensation, the Company has granted its directors 600,000 stock options and 2,400,000 restricted share units ("RSUs") under its omnibus equity incentive plan. Both the stock options and RSUs have an exercise price of $0.74 per common share and a three-year term from the date of grant. They vest as to 25% immediately upon grant, with the remaining 75% vesting in equal instalments of 25% every six months thereafter. All securities issued in connection with the foregoing are subject to a statutory hold period of four months and one day from the date of grant, in accordance with applicable Canadian securities laws. In connection with this grant, the Company has also cancelled 1,904,000 previously outstanding stock options exercisable at $0.51 per common share, as well as 616,000 RSUs that were originally issued to a director in October 2025.
ABOUT AVANTI GOLD CORP
Avanti Gold Corp. is a gold exploration company with a robust portfolio of projects in Africa. The Company’s flagship asset is the Misisi Project in the Democratic Republic of Congo (DRC), home to the Akyanga gold deposit. The Akyanga deposit has an Inferred Mineral Resource of 40.8 million tonnes (Mt) at an average gold grade of 2.37 grams per tonne (g/t), totaling 3.1 million ounces (Moz) of gold. The Misisi Project spans three contiguous 30-year mining leases covering 133 square kilometers (km²) along the 55-kilometer-long Kibara Gold Belt, a prominent metallogenic province known for hosting significant gold deposits.
¹ QUALIFIED PERSONS STATEMENT
Ephraim Masibhera, a "Qualified Person" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") who is independent, 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.
¹ As disclosed in the Misisi Project August 1st 2023 Technical Report available on Avanti’s website and on SEDAR+
CONTACT INFORMATION
For Inquiries:
Mohamed Cisse
Chief Executive Officer
info@avantigoldcorp.com
John Vincic
Oakstrom Advisors
john@oakstrom.com
+1-647-402-6375
FORWARD-LOOKING STATEMENTS
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.
This press release includes "forward-looking statements", including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Avanti. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially.
The Company’s forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this news release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information.
