CALGARY, AB, March 1, 2023 /CNW/ - Avanti Helium Corp. (TSXV: AVN) (OTC: ARGYF) ("Avanti" or the "Company") is pleased to announce that it has received the lab results from the gas analysis from the Flathead Cambrian Zone at its WNG 10-21 Helium appraisal well in Greater Knappen, Montana.

The lab results showed the gas consisted of 1.15%-1.2% Helium, with ~97.5% Nitrogen, and minor showings of Methane and CO₂ making up the remainder. Additional gas samples will be sent to a more specialized lab to determine if there are any additional noble gases.

"With Helium percentages in the 1.15 to 1.2% range, combined with great flow rate and surface pressure, our WNG 10-21 continues to deliver incredible results," said Chris Bakker, Avanti CEO.

The Company also announces that the board of directors has granted incentive stock options to acquire up to an aggregate of 2,300,000 common shares. Of the options granted, 1,060,000 have been granted to directors and executives of the Company.  The options are exercisable at a price of $0.80, have a term of five years and may be subject to certain vesting provisions as determined by the board of directors.

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 helium trapped in structures to help meet the increasing global demand for an irreplaceable and scarce element critical to advanced technology, medical and space exploration industries. For more information, please go to the Company's website at www.avantihelium.com.

Forward-Looking Statements

The information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.