Avanti Helium Corp. — Capital/Financing Update 2021

Sep 15, 2021

FORM 51-102F3

Material Change Report

1. Name and Address of Company:

Avanti Energy Inc. Suite 204 – 998 Harbourside Drive North Vancouver, BC V7P 3T2

(the "Company")

2. Date of Material Change:

September 14 and 15, 2021.

3. News Release:

News releases were disseminated on September 14 and 15, 2021 and were subsequently filed on SEDAR.

4. Summary of Material Change:

On September 14, 2021, Avanti Energy Inc. (TSX Venture: AVN) (“Avanti” or the “Company”) announced that it has closed its previously announced non-brokered private placement financing (see news release dated September 3, 2021) to a single, strategic subscriber to raise gross proceeds of $1,500,000 from the sale of 882,352 common shares (“Shares”) of the Company at a price of $1.70 per common share (the “Financing”). In addition, on September 15, 2021, the Company announced that it has completed its due diligence on the acquisition of Montana properties previously announced on June 14, 2021, and July 22, 2021. Upon completion of satisfactory due diligence, Avanti proceeded to sign definitive agreements for ~50,000 acres of land in Montana that are highly prospective for helium. The Company is moving forward in preparation for drilling activities.

5.

Full Description of Material Change:

On September 14, 2021, Avanti Energy Inc. (TSX Venture: AVN) (“Avanti” or the “Company”) announced that it has closed its previously announced non-brokered private placement financing (see news release dated September 3, 2021) to a single, strategic subscriber to raise gross proceeds of $1,500,000 from the sale of 882,352 common shares (“Shares”) of the Company at a price of $1.70 per common share (the “Financing”).

All securities issued under the Financing are subject to a four‐month and one day statutory hold period expiring on January 14, 2022. The proceeds of the Financing will be used towards the initial drill program starting early fall.

In addition, on September 15, 2021, the Company announced that it has completed its due diligence on the acquisition of Montana properties previously announced on June 14, 2021, and July 22, 2021 (the “Land Transaction”). Upon completion of satisfactory due diligence, Avanti proceeded to sign definitive agreements for ~50,000 acres of land in Montana that are highly prospective for helium. The Company is moving forward in preparation for drilling activities.

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During technical review of the properties, Avanti’s team also identified a new four-way structural close to the east and entered into a Letter of Intent to acquire a previously unannounced 4,480 acres.

Highlights:

• Avanti’s total land holdings are now ~69,000 acres of potential helium-prospective properties, over which the Company maintains 100% operatorship.

• The properties, referred to as Greater Knappen , feature ten closed structural highs, exhibiting relief of 70m to 170m, that are ideal for the trapping of helium.

• In January 2021, a single competitor well in the immediate area began helium production from the same zones targeted by Avanti’s technical team, further validating the Company’s model.

• • Wells surrounding Avanti’s properties have high helium shows in multiple Devonian and Cambrian targets with helium percentages of up to 2% and nitrogen percentages of up to 96%.

“By completing the definitive agreements, Avanti has secured its core Greater Knappen property, a cornerstone to its portfolio approach to land acquisition and exploration,” said Chris Bakker, Avanti Energy CEO. Mr. Bakker emphasized, “This property has ten structures with several prospective helium bearing zones to pursue through our 2021 drilling program.”

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

1. Reliance on Subsection 7.1(2) of the National Instrument 51-102 Continuous Disclosure Obligations :

Not applicable.

7. Omitted Information:

Not applicable.

8. Executive Officer Knowledgeable of Material Change:

Rob Gamley, President Telephone: (604) 689-7422

9. Date of Report: AVANTI ENERGY INC.

September 15, 2021

By: “Rob Gamley” President (Official Capacity) Robin Gamley