Avante Mining Closes Option Agreement to Acquire Pipestone South 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 South Property
Vancouver, BC / February 1, 2024 – Avante Mining Corp. (“Avante” or the “Company”) (TSXV: A V A)
(OTCPK: ACPRF) (FSE: P210), a Canadian nickel-focused exploration company, is pleased to announce
that it has closed the previously announced option agreement dated January 6, 2024 (the “ Option
Agreement”) with Darrin Hicks, an arm’s length party to the Company (the “ Optionor”) and issued
150,000 common shares (“Shares”) at a deemed price of $0.06 per Share and paid $5,000 to the Optionor.
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 June 2, 2024.
Adrian Smith, CEO of Avante comments “we are pleased to continue to increase our land position in this
highly prospective belt of nickel bearing ultramafic rocks. We have initiated a regional compilation program
to take advantage of exploration work previo usly completed in the region primarily for copper gold and
chromium which overlooked the significant bulk tonnage nickel potential identified by Cliffs Natural
Resources Canada in 2012. Currently , deposits occurring in similar geology and being advanced by
companies such as FPX Nickel Corp. and Canada Nickel Company Inc. are being recognized by major
battery manufacturers, steel makers, and governments who recognize the potential for long- term, stable,
and clean source of nickel.”
Under the terms of the Option Agreement the Company has the right to acquire a 100% undivided legal and
beneficial interest in five (5) mapped staked claims comprising eighteen (18) cells (the “Pipestone South
Property”) adjoining the Pipestone Project (collectively, the Pipestone Project and the Pipestone South
Property being the “Property”), by making cash payments of $55,000 and issuing an aggregate of 800,000
common shares over a period of three years. The Property is ideally located in central Newfoundland with
road access to the north and south; it also has access to a hydroelectric power station 15 kilometers south
of the Property.
The Vendor will retain a royalty equal to 2% of Net Smelter Return (“NSR”). The Company shall have the
right to buy back three-quarters of the Royalty equal to 1.5% NSR for one million dollars ($1,000,000) at
any time. If, by mutual agreement of all parties, Common Shares of the Optionee are issued in lieu of cash,
the cash amount that would otherwise have been payable shall be converted to Common Shares of the
Optionee at a price $0.05 per Common Share.
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.
1890 – 1075 West Pender Street, Vancouver, BC V6E 3C9
Tel: 604-687-2038 Fax: 604-687-3141
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.
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.