Avanti Gold Corp. announced it has entered into a share exchange agreement dated May 1, 2023 with MTM Ltd. Pursuant to the terms of the Exchange Agreement, the Company proposes to acquire all the outstanding share capital of MTM. MTM, with a local partner, holds the rights to gold prospecting licenses in the Magisterial District of Molopo.

The license rights cover an area of approximately 90 hectares ("ha"), located in the highly prospective Kraaipan Granite-Greenstone Belt terrain which extends 400 kilometers ("km") from southern Botswana into Northwest Province South Africa. The Transaction will expand the Company's portfolio an with asset in the highly prospective, unexplored Kraaipan Greenstone Belt, located in Africa's premier mining jurisdiction, Botswana.