AVANTI HELIUM ANNOUNCES FULLY SUBSCRIBED PRIVATE PLACEMENT OF UP TO $1.2 MILLION AND PROVIDES CORPORATE UPDATE

CALGARY, AB, Nov. 22, 2023 /CNW/ - Avanti Helium Corp. (TSXV: AVN) (OTC: ARGYF) ("Avanti" or the "Company") is pleased to announce a fully subscribed non-brokered private placement of up to 3,000,000 units (each a "Unit") at a price of $0.40 per Unit, for total proceeds of up to $1,200,000 (the "Offering).

Each Unit under the Offering will consist of one common share and one share purchase warrant (each a "Warrant"), with each Warrant entitling the holder to purchase one additional share at a price of $0.60 per share for a period of twenty-four (24) months from the date of issuance.

All securities issued under the Offering will be subject to a hold period of four months and one day in accordance with applicable securities laws. The Company may pay a finder's fee in cash and/or warrants under the Offering.

The proceeds of the Offering will be used for various work related to the Company's Helium Recovery Plant located on the Sweetgrass Pool in Montana and for general working capital.

The closing of the Offering is expected to occur on or before November 30, 2023 and is subject to receipt of all necessary approvals including the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Corporate Update

Following the announcement of the agreement for third party construction and ownership of the Helium Recovery Unit (HRU) to produce the Sweetgrass discovery (see press release dated July 27, 2023), Avanti Helium Corp. is now able to aggressively move forward to achieve its commercial production. The Pipelines from the WNG 10-21 and WNG 11-22 wells to the HRU site are 100% completed, and the wellsite skids have been fabricated and are in the process of being delivered to the HRU site. The Inlet Separator is currently in fabrication and is expected to be on site in late December.

About Avanti Helium Corp.

Avanti Helium is focused on the exploration, development, and production of helium across western Canada and the United States. Avanti's professional oil and gas exploration and production team is actively targeting helium trapped in structures to help meet the increasing global demand for an irreplaceable and scarce element critical to advanced technology, medical and space exploration industries. For more information, please go to the Company's website at www.avantihelium.com.

Forward-Looking Statements

The information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: statements relating to the expected timing for the development of the helium recovery plant and timing estimates with respect to initial production therefrom, statements relating to the expected benefits to Avanti from the midstream agreement and liquefaction tolling agreement, statements relating to obtaining financing to fund associated infrastructure work for the plant, risks associated with helium exploration, development, production, marketing and transportation, volatility in helium prices, risks relating to the Company's ability to access sufficient capital from production and external sources, risks and uncertainties relating to the Company's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information. Please see the public filings of the Company at www.sedar.com for further information and risks applicable to the Company. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.