Avante Mining Closes Option Agreement to Acquire Pipestone Awaruite Property
1890 – 1075 West Pender Street, Vancouver, BC V6E 3C9
Tel: 604-687-2038 Fax: 604-687-3141
Avante Mining Closes Option Agreement to Acquire
Pipestone Awaruite Property
Vancouver, BC / November 28, 2023 – Avante Mining Corp. (“Avante” or the “Company”) (TSXV:
AVA ) (OTCPK: ACPRF) (FSE: P210) , a Canadian nickel -focused exploration company, is pleased to
announce that it has closed the previously announced option agreement dated November 7, 2023 (the
“Option Agreement”) with SSAF Collective (the “ Optionors”) and issued 500,000 common shares
(“Shares”) at a deemed price of $0.07 per Share and paid $30,000 to the Optionors. The Shares are subject
to a statutory hold period of 4 months and one day from issuance in accordance with Canadian securities
laws that will expire on March 24, 2024.
Under the terms of the Option Agreement the Company has 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 (the “Pipestone Project” or the “Property”) by making cash payments of $380,000, issuing
an aggregate of 4,000,000 Shares and incurring $1,500,000 in expenditures over a period of four (4) years.
The Pipestone Project consists of 161 claims encompassing 40.25 square kilometres of ground located in
Newfoundland. Exploration work at the Property will start this fall/winter.
Adrian Smith CEO, comments, “We are excited to close this agreement and begin work on the Pipestone
Project this year, which will increase our exposure to high quality nickel projects in Canada. Initial work at
the Pipestone Project will continue to build on the Company’s successful exploration in the area which
includes the 2023 drilling program at the V oisey’s West project where the Company expanded the area of
known high-grade nickel mineralization to over 1km strike and drilling intersected 9 metres of 1.12% nickel
with grades up to 2.84% Nickel and 3.28% NiEq. Further south, the Pipestone Project presents Avante with
the opportunity to explore on a year-round basis targeting a bulk tonnage “green” nickel deposit within the
extensive Newfoundland ophiolitic rocks. Awaruite nickel deposits have been legitimized with significant
investments from major industry players in recent years and represent an attractive long -term supply of
nickel for responsible miners to produce metals for the green energy transition without high environmental
costs.”
Disclosure
Adrian Smith, P.Geo., is a qualified person as defined by NI 43-101. 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: A V A) (OTCPK: ACPRF) (FSE: P210) is a mining exploration company
focused on developing high-value geographically significant projects including the V oisey’s West. Avante
is paving the way by combining quality projects with proven exploration strategies and a dedicated team to
achieve exceptional outcomes.
The Company’s V oisey’s West project is located in the same intrusive complex as the world class V oisey'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% c obalt. It represents one of the most competitive nickel operations
globally.
1890 – 1075 West Pender Street, Vancouver, BC V6E 3C9
Tel: 604-687-2038 Fax: 604-687-3141
The Pipestone Project represents one of the rare awaruite projects globally which are a focus in the
development of large-scale bulk tonnage nickel targets that have low carbon emission profiles and are very
attractive to steel produces looking to reduce their carbon output.
A V ANTE MINING CORP.
For more information, please call Adrian Smith, CEO, at 1-778-331-3816, email [email protected],
or visit www.avantemining.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements:
This news release may include "forward -looking information" under applicable Canadian securities
legislation. Such forward-looking information reflects management's current beliefs and are based on a
number of estimates and/or assumptions made by and information currently available to the Company that,
while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that
may cause the actual results and future events to differ materially from those expressed or implied by such
forward-looking information. Readers are cautioned that such forward- looking information are neither
promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not
limited to, general business, economic, comp etitive, political and social uncertainties, uncertain and
volatile equity and capital markets, lack of available capital, actual results of exploration activities,
environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays
in obtaining governmental approvals and permits, and other risks in the mining industry.
The Company is presently an exploration stage company. Exploration is highly speculative in nature,
involves many risks, requires substantial expenditures, and may not result in the discovery of mineral
deposits that can be mined profitably. Furthermore, t he Company currently has no reserves on any of its
properties. As a result, there can be no assurance that such forward -looking statements will prove to be
accurate, and actual results and future events could differ materially from those anticipated in suc h
statements.