Substantive 20% Increase In Deposit Size At Separation Rapids Project

TORONTO - Avalon Advanced Materials Inc. announced an updated Mineral Resource Estimate (MRE) for the Avalon-Sibelco joint venture lithium deposit at Separation Rapids. This updated MRE, compliant with NI 43-101, reports 10.08 million tonnes (Mt) averaging 1.35% of Measured and Indicated Lithium Oxide (Li2O), a 20% increase compared to previous results.

Separation Rapids MRE Highlights: Open Pit with a Measured and Indicated category of 9.39 Mt averaging 1.34% Li2O with the start of an underground resource of 0.68 Mt averaging 1.43% Li2O; 10.08 Mt averaging 1.35% Li2O in Measured and Indicated, a 20% increase in size as compared to 2018 results; 2.81 Mt averaging 1.38% Li2O in the Inferred category, a 57% increase in size as compared to 2018 results; 136,000 tonnes of Li2O in Measured and Indicated, a 15% increase in size as compared to 2018 results; 39,000 tonnes Li2O in the Inferred category, a 60% increase in size as compared to 2018 results; and Exploration Potential of an additional 3 Mt to 6 Mt of resource, grading between 1.0 and 1.4% Li2O which could relate to an increase in Li2O by 30,000 to 80,000 tonnes.

Located near Kenora, ON, the Separation Rapids deposit is owned by the recently announced joint venture between Avalon and SCR-Sibelco NV, an Antwerp-based company and leader in the global glass-ceramics and materials solutions business, with projects in over 30 countries.

"This updated estimate reveals the quality and quantity of the resource at Separation Rapids, and underscores the rationale for the strategic partnership between Avalon and Sibelco. It confirms that the deposit can deliver sufficient volumes of commercial-grade feedstock suitable for both the glass-ceramics and lithium battery markets," said Scott Monteith, CEO. "This data gives Avalon and Sibelco the confidence to pursue the next phase of development at Separation Rapids, finalizing a definitive feasibility study and moving towards production."