CALGARY, AB, Jan. 31, 2024 /CNW/ - Avanti Helium Corp. (TSXV: AVN) (OTC: ARGYF) ("Avanti" or the "Company") is pleased to provide an update on the progress of the Helium Recovery Unit (HRU) at its Sweetgrass pool in Greater Knappen, Montana.

The completion of all ancillary pipelines linking the WNG 11-22 and WNG 10-21 helium wells to the HRU site has been successfully completed. This important milestone marks a significant step forward in the development process, showcasing the Company's commitment to advancing its strategic initiatives.

Additionally, Avanti is pleased report the completion of the fabrication for the well site skids and inlet separation facility. These essential components will soon be transported to the facility site in Montana over the next few weeks.

The Company remains steadfast in its commitment to driving innovation, ensuring operational excellence, and creating sustainable value for its shareholders. The completion of critical milestones in the HRU development underscore Avanti's resilience and strategic foresight in navigating the dynamic helium landscape.  The Company looks forward to updating stakeholders as it further progresses the project.

Avanti also announces that at the 2023 annual general meeting of shareholders (the "2023 AGM"), the shareholders approved amendments to:

• the Company's stock option plan, to comply with the policies of the TSX Venture Exchange (the "Exchange"); and
• the Company's equity incentive compensation plan (the "EICP"), to increase the maximum number of common shares of the Company ("Common Shares") issuable under the EICP to 8,583,565, representing 10% of the issued and outstanding number of Common Shares as at November 17, 2023, the date of the Company's 2023 AGM, and to comply with the policies of the Exchange.

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.

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, including statements relating to the completion of the financing transaction described herein, including satisfaction of the conditions to closing, statements relating to the expectation that the Company will enter into helium purchase agreement in accordance with the terms of the offtake LOI, the expected use of proceeds from the financing transaction, the expectation that the Company will be able to complete the transactions herein and begin receiving cashflow from the Sweetgrass project in Q2, 2024, and the expected impacts to the Company's business that are disclosed herein which relate to the completion of these transactions. 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: the Company's ability to satisfy the closing conditions for the financing transaction, the Company negotiating and entering into the helium purchase agreement, on terms favorable to the Company, or at all, and timely completion of the infrastructure work, , risks associated with helium exploration, development, production, marketing and transportation, volatility in helium prices, risks relating to the Company's ability to access sufficient capital from production and external sources, 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.  Please see the public filings of the Company at www.sedarplus.ca for further information and risks applicable to the Company.

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.