Avante Mining Hits Additional Sulfides Over 22 Metres at Voisey's West

Vancouver, British Columbia--(Newsfile Corp. - September 12, 2023) - Avante Mining Corp. (TSXV: AVA) ("Avante" or the "Company"), is pleased to announce that it has intersected two additional intervals with visually identified nickel sulphide including 22 metres and 16 metres containing disseminated to semi-massive sulfides at the Voisey's West nickel project ("Voisey's West" or the "Project"). The Project is located in the same intrusive complex as the nearby Voisey's Bay mine and 70km west of the town of Nain, Labrador, Canada.

Highlights

• Two additional holes into new zone containing visually identified nickel sulfide in pyrrhotite.
• Hole 4 contains highest concentration of sulfides to date including large zones of semi-massive sulfides.
• Hole 5 shows higher percentage of visual copper mineralization indicating potential for platinum group elements and gold enrichment.
• Drilling continues to expand on new discovery located 950 meters north of drillhole intersection showing 5 metres at 1.28% nickel, 0.52% copper and 0.03% cobalt (08-LP-55).
• Multiple targets remain open for expansion and show potential for additional new discoveries.
• Magmatic nickel sulphide style of mineralization, similar to the nearby Voisey's Bay.

Adrian Smith, CEO of the Company, commented, "These new holes show the highest concentration of sulphides on the property that we have seen. We are also seeing a variation of metals with a greater amount of visible copper higher in the system and greater concentrations of sulfides below, leaving us excited to follow the mineralization to depth where more massive sulfides could exist. The latest drilling verifies the presence of favorable conditions for the development of substantial mineral accumulations, and we are enthusiastic about progressing with our efforts at Voisey's West."

Figure 1: Core photo from VW-23-04 at 19.8 metres down hole (left) and 20.2 metres (right) showing net-texture, sulfide-matrix to massive texture.

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Continued drilling at Voisey's West has intersected two additional intervals of disseminated, blebby, net-textured, sulfide-matrix breccia, semi-massive and massive sulfides. The Company's Geologists have visually identified nickel-sulfide in the form of pentlandite and copper-sulfide as chalcopyrite within pyrrhotite hosted in a gabbroic mafic intrusion.

The Company's Geologists confirm a magmatic sulfide system is hosted on the Voisey's West, similar to the nearby Voisey's Bay mine. Typical magmatic sulfide textures from the current drilling are shown in Figures 1 to 4 below and include type examples of net-texture, semi-massive and sulfide-matrix breccia textures. These are formed as mafic intrusions interact with sulfurous country rock and separate the metals from the magma during emplacement. The sulfurous country rocks at Voisey's West are the same metamorphosed sediments (paragneiss) as at Voisey's Bay which have proven themselves to be an ideal source of sulfur to generate large volumes of sulfides. The depth potential of the system is only constrained by the presence of the sulfur-bearing country rocks, which in the case of Voisey's West appears to be significant.

Figure 2: Drill hole VW-23-04 drill core showing net texture and sulfide-matrix breccia textures from 14 to 14.5 (top) from 20.5 to 21.5 (middle) and from 19.5 to 20 (bottom).

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Holes VW-23-04 and VW-23-05 show that the typical density settling characteristics of a magmatic system where the hole VW-23-04 drilled at the steepest angle encounters higher sulfide concentrations where hole VW-23-05 shows higher copper content and greater disseminations and net textures. Due to the vertically zoned nature of the mineralization, there remains great potential for increased accumulations of sulfides at depth.

Drill hole VW-23-04 cut an additional zone of visible sulfides at the newly discovered North Baccy Zone over 22 metre intervals downhole. The mineralized interval consists of gabbroic intrusive rock with sulfides from 1-2% to predominantly greater than 10% to 20% and to over 60% as disseminations to net-textured to sulfide-matrix breccia and locally massive. The Company's Geologists have visually identified nickel sulfide as pentlandite hosted within pyrrhotite. The gabbro is intruding a garnet paragneiss which is interpreted to be the source of sulfur for the mineralized zone and contains patchy to disseminated sulfides throughout to the end of the hole at 125 meters. The hole was drilled due north at 60-degree dip.

Figure 3: Close up of core from hole VW-23-04 at 14 metres down hole showing bleb of visually identified nickel sulfide (pentlandite) within sulfide-matrix breccia.

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Figure 4: Hole VW-23-05 from 12 and 14 metres downhole showing net-textured and blebby massive sulphides with higher concentration of visible copper (chalcopyrite) with visually identified nickel sulfide and pyrrhotite.

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Drill hole VW-23-05 cut additional visible sulfides at the newly discovered North Baccy Zone over a 16-metre interval. The sulfides are concentrated in the same gabbroic intrusive rock but show higher elevations of visible copper mineralization as seen in Figure 4. Sulfide concentrations range from 2% to predominantly 10% to over 40% and occur as disseminated, blebs and bands, net-textured, fracture-fill, to semi massive. Company geologists have visually identified copper and nickel sulfides in the form of chalcopyrite and pentlandite within the pyrrhotite. The hole was drilled due north at a 45-degree dip.

The Company has now confirmed a magmatic sulfide system hosted on the Project in drilling to 1 kilometer in length. The project scale geology also suggests that there is a significant vertical zone where the two rock types responsible for generating nickel sulfides are present, and it is likely that the zone of sulfide generation extends to depth along the pathways of the mafic intrusions.

Figure 4: Drilling update map showing current drill location with previous drilling over total magnetic intensity (hot colors representing high magnetic signal).

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Adrian Smith continues, "The evidence from drilling is clear, there is a magmatic sulfide system hosted on Voisey's West; the same system type responsible for the nearby world class Voisey's Bay mine and occurring in the same geological setting. The new drilling has been key to understanding the controls on the mineralization and shows the classic vertical settling of sulfides giving us a clear objective to follow the system to where there are potentially more massive sulfides with higher grades."

The true thickness is not known, and additional drilling will aim to better define the orientation and extent, specifically to depth where higher concentration of pooled sulfides may exist, and further north where additional untested anomalies exist. The Company plans to provide further updates on drilling as additional information becomes available. Drillers have gone on break with gear remaining at the Project while the Company works to log and sample the core. Initial results will be rushed through the lab for analysis at a Canadian accredited laboratory for complete multi-element analysis with further updates to follow.

About the Voisey's West Project

The Voisey's West is located 50km from, and within the same intrusive complex and geological setting as the world class Voisey's Bay nickel mine.

The Project is in the Churchill Province of Labrador and underlain predominately by quartz-feldspathic and metasedimentary gneisses derived from plutonic and sedimentary rocks. The rocks are intruded by the multi-phase, Nain Plutonic Suite (NPS) composed primarily of anorthosite, troctolite, diorite and granitoids and are known to host nickel-sulfide mineralization.

Following the discovery of Voisey's Bay deposit, enhanced regional prospecting led to the discovery of three pyrrhotite-chalcopyrite-pyrite-pentlandite showings located on the Voisey's West, namely, the Long Pond, All-About-It and No Baccy. Initial surface grab samples from the Long Pond and All-About-It showings returned up to 1.36% Nickel and 0.58% Copper, and 1.05% Nickel and 1.53% Copper respectively. Continued work led to the identification of a primary mineralized corridor occurring over approximately 2.5 kilometres and multiple high-grade nickel drill intersections up to 14 metres of 1.02% Nickel, 0.51% Copper and 0.03% Cobalt.

Disclosure

Some results presented in this release are considered historic in nature. The qualified person for the Company has not verified all of the historic sample analytical data disclosed within this release. While the Company has obtained all historic records, including analytical data from the previous owners of the Voisey's West and from various government databases, the Company has not independently verified all of the results of the historic sampling. See news release dated July 6, 2023, for information on confirmation sampling completed by the Company.

Adrian Smith, P.Geo., is a qualified person as defined by NI 43-101 for the Voisey's West project. The qualified person is a member in good standing of the Professional Engineers and Geoscientists Newfoundland and Labrador (PEGNL) and is a registered professional geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed herein.

About Avante Mining Corp.

Avante Mining Corp. (TSXV: AVA) is a mining exploration company focused on developing high-value geographically significant projects including the Voisey's West. Avante is paving the way by combining quality projects with proven exploration strategies and a dedicated team to achieve exceptional outcomes.

The Voisey's West is located in the same intrusive complex as the world class Voisey's Bay Nickel mine where reported remaining proven and probable reserves include 32.4 million tonnes of 2.13% Nickel, 0.96% Copper, 0.13% Cobalt, and additional measured and indicated 10.3 million tonnes of 0.87% Nickel, 0.65% Copper, 0.04% Cobalt. It represents one of the most competitive nickel operations globally.

For more information visit avantemining.com.

The forward-looking statements contained in this press release are made as of the date hereof and Avante Mining Corp. undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION:
Adrian Smith, CEO and Director
Contact 1-778-331-3816
info@avantemining.com

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