Mr. Chris Bakker reports

AVANTI HELIUM ANNOUNCES UPSIZE OF OVERNIGHT MARKETED BEST EFFORTS PUBLIC OFFERING OF UNITS

Avanti Helium Corp. has increased the size of the previously announced overnight marketed best-effort public offering of units of the company. Due to increased demand, the size of the offering, which is being conducted on a best-effort agency basis, has been increased by 10 per cent for up to 7,857,100 units at a price of 70 cents per unit for aggregate gross proceeds of up to $5,499,970.

Each unit will consist of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder to acquire one common share of the company for 24 months from the closing of the offering at a price of $1.

The offering is being conducted on a best-effort agency basis pursuant to the terms and conditions of an agency agreement to be entered into between the company and Raymond James Ltd. and Canaccord Genuity Corp. as joint bookrunners and co-lead agents on behalf of a syndicate of agents, including Beacon Securities Ltd. and Cormark Securities Inc.

The company will also grant the agents an option to sell up to an additional 15 per cent of the units sold under the offering, at the issue price. The overallotment option may be exercised in whole or in part to purchase common shares, warrants or units as determined by the agents upon written notice to the company at any time up to 30 days following the closing date of the offering.

The offering will be conducted pursuant to the company's Canadian base shelf prospectus dated Nov. 23, 2022. A prospectus supplement relating to the offering will be filed in each of the provinces of Canada, except the province of Quebec. Copies of the prospectus supplement and accompanying base shelf prospectus will be available under the company's profile on SEDAR.

Closing of the offering is expected to occur on or about Feb. 6, 2023, and is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including the approval of the TSX Venture Exchange and the securities regulatory authorities. The proceeds raised from the sale of units under the offering are expected to be used by the company to finance exploration drilling on the company's lands and for general corporate purposes.

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 untapped potential helium reserves to help meet the increasing global demand for an irreplaceable and scarce element critical to advanced technology, medical and space exploration industries.

We seek Safe Harbor.