Mr. Ian MacLean reports

AVANTI GOLD CORPORATION ANNOUNCES A PRIVATE PLACEMENT OFFERING

Avanti Gold Corp. has arranged a non brokered private placement offering consisting of 40 million units at a price of 3.5 cents per unit for gross proceeds of up to $1.4-million. Each unit comprises one common share in the share capital of the company and one common share purchase warrant. Each warrant entitles its holder to purchase one additional common share at a price of five cents for a period of 12 months. The securities issued pursuant to the private placement will be subject to a four-month-and-one day statutory hold period in accordance with applicable securities law.

The proceeds of the private placement will be used for annual licence fees of the company's Misisi gold project and general working capital purposes.

The lead investor in the offering, Martino De Ciccio will become a 9.9-per-cent shareholder of the company on a partially diluted basis upon closing of the private placement. Sir Sam Jonah, chairman of Avanti, Ian MacLean, chief executive officer, along with other board members and management are participating in the offering and will become 19 per cent shareholders of the company on a partially diluted basis upon closing of the private placement. Insiders are considered related parties of the company for the purposes of applicable securities laws and stock exchange rules. The subscription and issuance of units by the Insiders constitute related party transactions but are exempt from the formal valuation and minority approval requirements of Regulation 61-101 -- Protection of Minority Security Holders in Special Transactions as neither the fair market value of the common shares and common share purchase warrants issued to each of the insiders, nor the consideration paid by such insiders, exceeds 25 per cent of the company's market capitalization.

"We are pleased to have Mr. De Ciccio lead the offering and participating alongside the board and management. Martino's participation in the offering demonstrates the potential of the company's gold assets in the DRC," stated Sir Sam Jonah, chairman of Avanti.

About Avanti Gold Corp.

Avanti Gold is a gold exploration company with a robust portfolio of projects in Africa. The company's flagship asset is the Misisi project in the Democratic Republic of the Congo (DRC), home to the Akyanga gold deposit. The Akyanga deposit has an inferred mineral resource of 44.3 million tonnes (Mt) at an average gold grade of 2.37 grams per tonne (g/t), totalling 3.1 million ounces (Moz) of gold. The Misisi project spans three contiguous 30-year mining leases covering 133 square kilometres along the 55-kilometre-long Kibara gold belt, a prominent metallogenic province known for hosting significant gold deposits.

Qualified person

Ephraim Masibhera, a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, has reviewed the scientific and technical information that forms the basis for this news release and has approved the disclosure herein. Historical information contained in this news release cannot be relied upon as the company's qualified person, as defined under NI 43-101 has not prepared nor verified the historical information.

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