Vancouver, B.C., November 1, 2021 – Avanti Energy Inc. (TSXV: AVN) (US OTC PINK: ARGYF) (the “Company”) is pleased to announce that it has entered the drilling phase of operations at its 100%-ownedGreater Knappen land holdings in Northern Montana. Avanti has commenced surface operations and is finalizing surveys prior to starting its initial drilling program.
Greater Knappen Highlights:
- ~69,000 acresof potential helium-rich properties, over which the Company maintains 100%-ownership.
- 10closed structural highs, exhibiting relief of 70m to >200m, that are ideal for trapping helium.
- In 2021 helium production commenced from a well drilled in the immediate area by a separate company, from the same zones targeted by Avanti’s technical team, further validating the Company’s model.
- Other wellssurrounding Avanti’s lands have high helium shows in multiple Devonian and Cambrian targets with helium percentages of up to 2% and nitrogen percentages of up to 96%.
Chris Bakker, CEO of Avanti, commented, “Avanti has made significant strides on the technical assessment of Greater Knappen, and we now are in the critical stage of development to fully unlock the potential of this property. Management’s technical interpretation of just 7 of the 10 structures suggest an estimated un-risked and undiscovered resource potential of between 1.4 and 8.9 billion cubic feet of recoverable helium.”
The initial Greater Knappen drilling program is targeted to spud in early December, and will target three separate pay zones, two in the Beaverhill Lake formation and one in the Basal Sandstone formation.
Avanti continues to evaluate multiple opportunities across Western Canada and the United States to build an industry-leading helium company with a premier portfolio of prospective lands.
About Avanti Energy
Avanti Energy 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 untapped potential helium reserves 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.avantienergy.com.
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Avanti Energy Inc.
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.
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