About Avalon Advanced Materials

Avalon Advanced Materials Inc. operates as a mineral exploration and development company with a focus on rare metals and minerals. The company operates primarily in Canada with a focus on ‘technology metals’ or ‘cleantech materials’, including lithium, tantalum, cesium, indium, gallium, germanium, tin, rare earth elements, yttrium, and zirconium. The company is extra-provincially registered to carry on business in Ontario, British Columbia, Northwest Territories and Nova Scotia. The company is in the process of exploring or developing three of its five mineral resource projects, including the re-activation of one early-stage project, such as Lilypad Cesium-Tantalum. The company has expended all of its efforts on the development of its Nechalacho Rare Earth Elements Project, the East Kemptville Tin-Indium Project and the Separation Rapids Lithium Project. The company owns five critical mineral projects in Canada, three of which are under active development, but none of which are in production. It also owns royalty interests in two exploration projects, which are not in production. Nechalacho Project The Nechalacho Project is located at Thor Lake in the Mackenzie Mining District of the Northwest Territories, approximately five kilometres north of the Hearne Channel of Great Slave Lake and approximately 100 kilometres southeast of the city of Yellowknife. The property consisted of eight contiguous mining leases 5,786 hectares (14,297 acres), after three mining claims totalling 332 hectares on the southwest side of the original five leases were converted to mining leases. During 2019, the company and Cheetah Resources Pty Ltd. (Cheetah) entered into a definitive agreement, under which Cheetah acquired ownership of the near surface resources principally in the T-Zone and Tardiff Zones of the property (Upper Zone Resources). The sale closed in 2020. Cheetah was subsequently acquired by Vital Metals Limited. During 2020, the company and Cheetah formed a jointly-owned corporation to hold the exploration permits and related authorizations related to Nechalacho. The company and Cheetah also entered into a co-ownership agreement governing each party's activities and management at site. Separation Rapids Lithium Project The Separation Rapids property consists of nineteen mineral claims and one mining lease covering a combined area of approximately 4,414 hectares (10,910 acres) in the Paterson Lake Area, Kenora Mining Division, Ontario, all of which are owned 100% by the company. The lease covers an area of approximately 421 hectares over the area of the lithium pegmatite deposit and adjacent lands that might be used for mine development infrastructure. The company also owns three aggregate permits along the road to the site, which cover a total area of approximately 16 hectares and are located within the area covered by the claims. East Kemptville Tin-Indium Project The 100% owned East Kemptville Tin-Indium Project is located approximately 55 kilometres northeast of Yarmouth, in Yarmouth County, southwestern Nova Scotia in the vicinity of the former East Kemptville Tin Mine. The company holds mineral rights at East Kemptville through an exploration license. Research and Development The company’s research and development expenditures incurred totalled $304,802 during the year ended August 31, 2020. History The company was founded in 1991 under the British Columbia Business Corporations Act. It was formerly known as Avalon Ventures Ltd. and changed its name to Avalon Rare Metals Inc. in 2009. Further, the company changed its name to Avalon Advanced Materials Inc. in 2016.