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Avanti Gold Corp. (CSE: AGC) has clarified that Toubani Resources Limited's purchase of nearly 19.9% of Avanti shares was a private transaction solely between existing shareholders, with Avanti receiving no funds and not involved in the deal. Concurrently, Avanti is intensifying its exploration efforts at the Misisi Project in the Democratic Republic of Congo, currently operating four drill rigs onsite and aiming to increase to six rigs by the end of July 2026, marking the most extensive drilling campaign in the project's history.
Key Points
- Avanti Gold Corp. (CSE: AGC) confirms Toubani Resources acquired a 19.9% stake through a private shareholder transaction without company involvement or proceeds received
- Toubani compensated sellers with its own shares and options at C$0.65 per share instead of cash payment
- Avanti currently deploys four drill rigs at Misisi Project, with plans to expand to six rigs by July 2026, the largest drilling scale ever at the site
- Initial 2026 assay results are expected soon from exploration targeting the 3.11 million ounce Akyanga Deposit and the 55-kilometre Kibara Gold Belt
Details of Toubani’s Private Share Acquisition
Avanti Gold has provided shareholders with clarity on Toubani Resources Limited’s recent acquisition of approximately 19.9% ownership. This was a private transaction executed directly between Toubani and certain existing Avanti shareholders who sold their shares. Avanti itself was not a party to these agreements and did not issue new shares or receive any proceeds from the transaction.
The purchase was settled through Toubani issuing its own shares and options rather than cash. Toubani later corrected its corporate disclosures to confirm the price paid was C$0.65 per share. This equity-based consideration method is common in cross-border deals, allowing acquirers to conserve cash while offering sellers exposure to the acquirer’s business prospects.
Avanti’s Strategic and Operational Focus Remains Steady Post-Transaction
Despite the change in shareholder composition following Toubani’s stake acquisition, Avanti Gold has reaffirmed that its strategic plans and exploration goals remain unchanged. The company’s primary focus continues to be advancing its flagship Misisi Project in South Kivu province, Democratic Republic of Congo. Management emphasized that since Avanti was not involved and received no proceeds from the transaction, its operational and financial position remains unaffected.
CEO Mohamed Cisse highlighted the company’s commitment to executing the largest exploration program in the project’s history, with four rigs currently active and plans to increase to six by the end of July. The first assay results from 2026 drilling are expected imminently, reassuring investors that the transaction reflects a passive shareholder change rather than a shift in corporate strategy or project execution.
Record Exploration Capacity Expansion at Misisi Project
Avanti has accelerated its 2026 exploration program at Misisi, doubling its drill fleet from two to four rigs as of mid-July, with plans to expand to six rigs by the end of July 2026. This represents the largest drilling capacity ever deployed at the site, underscoring management’s confidence in the project’s potential and intent to generate substantial new geological data.
The expanded drilling campaign targets two main objectives: enhancing the mineral resource estimate at the Akyanga Deposit and systematically testing multiple high-priority targets across the 55-kilometre Kibara Gold Belt. The Akyanga Deposit currently contains a NI 43-101 compliant Inferred Mineral Resource of 40.8 million tonnes averaging 2.37 grams per tonne gold, totaling 3.11 million ounces. Initial 2026 assay results from this program are expected in the coming weeks, providing early insights into the effectiveness of the increased drilling.
Akyanga Deposit Resource and Geological Overview
The Akyanga Deposit is the core asset of the Misisi Project, supported by historical drilling comprising 105 diamond drillholes (19,070 metres) and six reverse circulation drillholes (887 metres), totaling 19,956 metres. The resource estimate was prepared using a C$1,500 per ounce pit shell economic constraint, standard for open-pit gold deposits. Mineralization extends from surface to approximately 350 metres depth over a strike length of about 2,100 metres.
Notably, the deposit remains open at depth and along strike, indicating potential to expand known resources through further drilling. Its relatively shallow mineralization and location within the Kibara Gold Belt metallogenic province underpin Avanti’s expanded exploration strategy.
Misisi Project Location and Mining Lease Details
Located in the Fizi territory of South Kivu province, Democratic Republic of Congo, the Misisi Project lies roughly 250 kilometres south of Bukavu and 180 kilometres north of Kalemie. It is situated within a recognized mining belt, though access and security remain important considerations. The project comprises three contiguous 30-year mining leases, providing a stable legal framework for exploration and potential development.
These leases cover the entire section of the Kibara Gold Belt where Avanti operates, a 55-kilometre-long metallogenic province known for significant gold deposits. Contiguous lease ownership allows Avanti to conduct large-scale exploration and resource development without fragmented land tenure complications.
Kibara Gold Belt: Strategic Regional Exploration Focus
The Kibara Gold Belt is a key component of Avanti’s Misisi portfolio. This 55-kilometre gold-bearing geological trend is recognized regionally for hosting major gold deposits. Avanti’s 2026 drilling program aims to systematically test multiple high-priority targets along the belt, combining intensive drilling at Akyanga with generative exploration across the broader trend.
This dual-track approach seeks to maximize existing resources and discover new mineralized zones. The extensive belt within Avanti’s contiguous leases offers a broad exploration canvas, with systematic drilling expected to yield new geological and assay data supporting potential additional discoveries. Such metallogenic province-scale exploration is increasingly common in frontier gold exploration regions.
Company Overview and African Exploration Strategy
Avanti Gold Corp. is a gold exploration company focused on African projects, with its flagship asset being the Misisi Project in the Democratic Republic of Congo, centered on the Akyanga gold deposit. Listed on the Canadian Securities Exchange (CSE: AGC), with secondary listings on the Frankfurt Stock Exchange (FSE: X370) and OTCQB in the U.S. (OTCQB: AVTGF), Avanti targets international investors. As an exploration-stage company, it currently has no mining revenue and relies on exploration results and investor support to fund operations.
Avanti’s focus on African frontier jurisdictions positions it among junior explorers pursuing high-potential opportunities in regions with significant geological upside but inherent political and operational risks. Investors typically weigh these factors carefully when considering exposure to such companies.
Upcoming Catalysts and Assay Result Timeline
The company expects initial assay results from the 2026 Misisi drilling program imminently, likely within weeks of the July 17, 2026 announcement. These results will provide the first laboratory confirmation of mineralization intersected by the current four-rig drilling campaign. Assay outcomes often serve as key catalysts for exploration companies by validating or challenging management’s geological assumptions.
Given the planned expansion from four to six rigs by end of July, assay results will likely be released progressively throughout 2026 and possibly into early 2027, offering multiple updates on exploration progress.
Forward-Looking Statements and Qualified Person Review
Avanti cautions that this release contains forward-looking statements subject to assumptions, risks, and uncertainties that could cause actual results to differ materially. This standard disclosure reflects the inherent uncertainties in mineral exploration.
Technical information was reviewed and approved by Ephraim Masibhera, a Qualified Person under NI 43-101 independent of Avanti. However, historical exploration data and resource estimates cited have not been personally verified by the Qualified Person and should be considered historical in nature.
