The recently announced purchase of shares was a private transaction between existing shareholders. Avanti remains fully focused on delivering the largest exploration program in the Misisi Project's history — four rigs on site today, six by the end of July, with first 2026 assays expected imminently.
Vancouver, British Columbia--(Newsfile Corp. - July 17, 2026) - Avanti Gold Corp. (CSE: AGC) (FSE: X370) (OTCQB: AVTGF) ("Avanti" or the "Company") notes the announcements issued by Toubani Resources Limited (ASX: TRE) ("Toubani") confirming completion of its acquisition of an approximate 19.9% interest in the Company. For the benefit of shareholders, the Company wishes to confirm the nature of the transaction and to reaffirm its exploration strategy.
HIGHLIGHTS
Consideration was satisfied by issue of Toubani shares and options. The purchase price disclosed by Toubani is C$0.65 per share (Toubani corrected and issued an update to an earlier figure in its closing announcement today and confirmed the purchase prce was C$0.65 per share).
The shares were sold by certain existing Avanti shareholders in a private transaction.
The transaction was between shareholders. The Company was not a party and received no proceeds.
The Company's strategy remains unchanged. Avanti has four rigs active on site now, six by the end of July — targeting the 3.11 Moz NI 43-101 Inferred Mineral Resource and the 55-km Kibara Gold Belt, with first 2026 assay results expected imminently.
THE TRANSACTION
The purchase announced by Toubani was a private transaction with certain existing Avanti shareholders, who elected to sell their shares. The Company was not a party to the share purchase agreements, issued no securities, and received no proceeds.
Consideration was satisfied in Toubani shares and options rather than cash. For clarity, the Company notes that Toubani corrected the share price in its closing announcement earlier today; the price most recently disclosed by Toubani is C$0.65 per Avanti share.
MANAGEMENT COMMENTARY
Mohamed Cisse, Chief Executive Officer of Avanti, commented:
"This was a private transaction between shareholders. Our focus is unchanged — delivering the largest exploration program in the Project's history, with four rigs on site today, six by the end of July, and our first 2026 assays expected imminently."
THE COMPANY REMAINS FOCUSED ON ITS EXPLORATION STRATEGY
As announced on 15 July 2026, Avanti has doubled its active drill fleet at Misisi from two to four rigs, with six rigs expected to be operating by the end of July — the largest drilling capacity ever deployed at the Project. The 2026 program is designed to grow and upgrade the existing 3.11 Moz NI 43-101 Inferred Mineral Resource at the Akyanga Deposit while systematically testing multiple high-priority targets along the 55-kilometre Kibara Gold Belt. First 2026 assay results are expected in the coming weeks.