Effective Feb. 6, 2023, the company's unit offering filed pursuant to the prospectus supplement dated Feb. 1, 2023, to the short form base shelf prospectus dated Nov. 23, 2022, was filed with and accepted by the TSX Venture Exchange. The short form base shelf prospectus was filed with the British Columbia Securities Commission and the authorities of all provinces except Quebec.

The TSX Venture Exchange has been advised that closing occurred on Feb. 6, 2023, for gross proceeds of $6,324,965.50 (including the full exercise of the agents' overallotment option).

Agents:  Raymond James Ltd., Canaccord Genuity Corp., Beacon Securities Ltd. and Cormark Securities Inc.

Offering:  9,035,665 units (including the full exercise of the agents' overallotment option) (Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant.)

Unit price:  70 cents per unit

Warrant exercise price/term:  $1 per share to Feb. 6, 2025

Agents' warrants:  516,079 non-transferable warrants, each exercisable to purchase one share at 70 cents per share to Feb. 6, 2025

Overallotment option:  The agents were granted an overallotment option, exercisable on closing, to purchase up to an additional 1,178,565 units. The overallotment option was exercised in full.

New listing -- warrants

Effective at the opening, Friday, Feb. 10, 2023, the 4,517,832 warrants of the company will commence trading on the TSX Venture Exchange. The company is classified as a mining company.

Corporate jurisdiction:  British Columbia

Capitalization:  4,517,832 warrants, authorized by a warrant indenture dated Feb. 6, 2023, of which 4,517,832 warrants are issued and outstanding

Transfer agent:  Computershare Trust Company of Canada

Trading symbol:  AVN.WT.A

Cusip No.:  05351P 12 4

Further to the prospectus supplement dated Feb. 6, 2023, 4,517,832 warrants were issued. Each warrant is exercisable for one common share at an exercise price of $1 per share until Feb. 6, 2025.

For further information, please reference the company's short form base shelf prospectus dated Nov. 23, 2022, and news releases dated Jan. 30, 2023, Jan. 31, 2023, and Feb. 6, 2023.