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.
About Avanti Helium
Corp
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.
SOURCE Avanti Helium Corp.