Mr. Scott Monteith reports

AVALON ADVANCED MATERIALS TO HOST INVESTOR UPDATE CALL REGARDING POTENTIAL U.S. EXCHANGE LISTING EVALUATION AND PROPOSED SHARE CONSOLIDATION

Avalon Advanced Materials Inc. has invited shareholders to a live investor update call and question-and-answer session on Monday, June 8, 2026, at 4:15 p.m. Eastern Time.

The call will feature Avalon president and chief executive officer Scott Monteith and chief financial officer Lorin Crenshaw, who will discuss the company's evaluation of potential United States capital markets alternatives, including a possible future listing of Avalon's common shares on The Nasdaq Stock Market LLC or another major U.S. stock exchange.

Management will also discuss the company's proposed share consolidation, including the strategic rationale for seeking shareholder approval, how the proposed consolidation is intended to support Avalon's broader capital markets strategy, and why the company believes the proposal may help position Avalon for broader investor access, improved marketability and long-term capital markets flexibility.

The company cautions that no final decision has been made to proceed with any United States exchange listing, Nasdaq application, Securities and Exchange Commission filing, financing, transaction or other capital markets initiative. Any potential U.S. listing would remain subject to numerous conditions, including shareholder approval of the proposed share consolidation, final board approval, approval of the Toronto Stock Exchange, acceptance by the applicable U.S. exchange, satisfaction of applicable listing standards, regulatory review, market conditions and other customary considerations. There can be no assurance that any U.S. listing will be pursued or completed.

Following the presentation, management will participate in a moderated question-and-answer session. Questions may be submitted in advance to AVLNF@redchip.com or during the call.

Investor update call details

Date:  Monday, June 8, 2026

Time:  4:15 p.m. ET

Dial-in information:  1-719-359-4580

Access ID:  828 2798 7369

About Avalon Advanced Materials Inc.

Avalon Advanced Materials is a Canadian critical minerals company focused on advancing lithium and rare-earth elements -- two of the fastest-growing segments of the global energy transition. The company is developing strategic assets to participate in high-growth markets and support the buildout of secure North American supply chains. Avalon is advancing the Nechalacho rare-earth elements and zirconium project in the Northwest Territories, which contains all light and heavy rare-earth elements, as well as yttrium, zirconium, tantalum and niobium -- critical minerals used in advanced technologies across the communications, defence, advanced technologies and energy sectors. The company is also focused on vertically integrating the Ontario lithium supply chain through the development of Lake Superior Lithium Inc., Ontario's first midstream lithium hydroxide processing facility, located in Thunder Bay. This facility is expected to serve as a cornerstone of North America's integrated battery materials supply chain, transforming Northern Ontario lithium into essential inputs for transportation, grid storage and advanced manufacturing.

We seek Safe Harbor.