New Risk • Aug 16
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$13m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$13m free cash flow). Earnings have declined by 3.6% per year over the past 5 years. Shareholders have been substantially diluted in the past year (89% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (CA$128.0m market cap, or US$92.2m). New Risk • Aug 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 4.9% per year over the past 5 years. Shareholders have been substantially diluted in the past year (92% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (CA$94.3m market cap, or US$67.0m). Announcement • Jul 28
Avanti Gold Corp Reports Assay Results from Eight Historical Diamond Drill Holes Totaling 1,310.26 Meters at Akyanga Deposit on Misisi Project in Democratic Republic of the Congo Avanti Gold Corp. reported assay results from eight historical diamond drill holes totaling 1,310.26 meters at the Akyanga Deposit on the Misisi Project in the Democratic Republic of the Congo. The previously unsampled historical core was re-logged, sampled and submitted for analysis as part of the Company’s ongoing review of the Akyanga geological database. The results include several near-surface and higher-grade mineralized intervals that provide additional geological and grade information within the Akyanga mineralized system and support the current interpretation of multiple stacked mineralized structures. The results include several near-surface and higher-grade mineralized intervals that provide additional support for the interpreted continuity of multiple stacked mineralized structures within the Akyanga Deposit, particularly toward its southern portion. The results include several near-surface and higher-grade mineralized intervals that support the current geological interpretation, dipping towards the southern portion of the deposit across multiple parallel veins. Notable results from the historical drilling include: MSDD0130: 29.36 metres grading 1.43 g/t Au from surface; MSDD0130: 12.30 metres grading 2.87 g/t Au from 55.20 metres, including 0.60 metre grading 17.59 g/t Au and 0.50 metre grading 37.53 g/t Au; MSDD0130: 4.60 metres grading 3.94 g/t Au from 74.59 metres; MSDD0132: 9.90 metres grading 4.13 g/t Au from 133.60 metres, including 0.80 metre grading 37.71 g/t Au; and MSDD0133: 1.50 metres grading 18.52 g/t Au from 27.90 metres. MSDD0134: 1.9 meters grading 3.14 g/t Au from 106.0 metres. MSDD0135: 3.5 meters grading 1.73 g/t Au from 18.8 metres. The eight historical holes are located within the southern strike extension of the Akyanga mineralized system and were not previously supported by assay data. The results provide additional information between previously reported drill holes and support the current interpretation of multiple stacked mineralized structures. The holes do not test the principal areas targeted by the current 2026 drilling program; rather, they add geological and grade information along the southern strike extension that will be evaluated as part of future geological modelling and drill targeting. Drill cores for assaying were taken at a maximum of one-metre intervals and were cut with a diamond saw, with one-half of the core placed in sealed bags by Company geologists and sent to the SGS Laboratory in Mwanza, Tanzania. The core samples were then crushed down to 80% passing minus 2 mm and split with one half of the sample up to 1.5 kg pulverized down to 90% passing 75 microns. Gold analyses were carried out on 50g aliquots by fire assay. In addition, check assays were also carried out by the screen fire assay method to verify high-grade sample assays obtained initially by fire assay. As part of the Company’s QA/QC procedures, internationally recognized standards, blanks and duplicates were inserted into the sample batches prior to submitting to SGS Laboratory. The Akyanga Deposit, located centrally in the Misisi Project, hosts an NI 43-101 compliant Inferred Mineral Resource of 40.8 million tonnes averaging 2.37 g/t gold containing 3.11 million ounces which was based on 19,956m of historic drilling, including 105 diamond drillholes totalling 19,070 meters and six reverse circulation drillholes totalling 887 meters. The Akyanga resource is determined from surface to a vertical depth of 350 meters over a strike length of 2,100 metres, using a USD 1,500/oz pit shell. The mineralisation remains open at depth and along strike. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. The assay results reported herein are not included in the current Mineral Resource Estimate. Eight diamond drill holes totalling 1,310.26 meters (MSDD0128 to MSDD0135) produced 1284 samples which have now been successfully assayed by the SGS Analytical Laboratory in Mwanza, Tanzania. The assayed samples demonstrate the strong continuity of near-surface, high-grade gold mineralisation towards the southern portions of the Akyanga deposit, proving the potential for a significant resource expansion at the Misisi Project. Intercepts are reported as downhole lengths. True widths are estimated to be approximately 85% of reported downhole lengths based on current geological interpretation. Grades are calculated as length-weighted averages of uncut assay results. The geology of the Misisi project area is dominated by Proterozoic meta-sediments comprising interbedded quartz muscovite schists, schistose arkoses, muscovite quartzites, and quartzites; pebble conglomerates and foliated mafic intrusion. Gold mineralisation is associated with numerous zones of stacked quartz veins that occur sub-parallel to bedding. The mineralised zones have strike lengths of up to 2,000 m and are generally less than 10 m thick. At the southern end of the Akyanga deposit the vein zones dip moderate to shallowly to the southeast. In the central and northern part, the deposit steepens at surface, such that at the northern end the mineralisation is near vertical at surface and flattening out down dip. The depth of weathering is estimated to be approximately 30 m. Mineralisation is structurally and lithologically controlled, in association with local deformation zones, and occurs along north-south striking structures. The current interpretation is that the base of a mafic unit provides a contact with hardness contrast along which there has been structural movement. 
