Avalon Publishes 2022 Annual Sustainability Report

Toronto, Ontario--(Newsfile Corp. - December 5, 2022) - Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) ("Avalon" or the "Company") is pleased to announce that it has published its 2022 annual sustainability report along with its audited annual financial statements. The 2022 Sustainability Report can be accessed on the Company's website at: https://www.avalonadvancedmaterials.com/sustainability/sustainability_reporting/.

The 2022 Sustainability Report focuses on health and safety, social, environmental and economic matters that are material to Avalon. It incorporates a self-assessment of Avalon's 2022 fiscal year sustainability performance sets targets for 2023 and long-term goals, as well as assessing against the applicable Towards Sustainable Mining indicators defined by the Mining Association of Canada. Avalon's 2022 Sustainability Report was prepared in accordance with the Global Reporting Initiative ("GRI") Standards, core option.

This year, Avalon continued its integration of the United Nations 17 Sustainable Development Goals ("SDGs") into its sustainability reporting. The 17 SDGs were set by the United Nations in 2015 and are the world's shared plan to end extreme poverty, reduce inequality and protect the planet by 2030. Avalon has aligned its GRI Index with the applicable SDGs in order to assess its business contributions towards each SDG.

Don Bubar, President and CEO, commented, "Sustainable mineral development initiatives related to critical minerals for clean technology have inspired us to look at new process technologies such as sensor-based ore sorting and dense media separation that will make our projects more cost efficient, and greatly reduce environmental impacts while adding to shareholder value and generating significant benefits for local Indigenous communities. Sustainability reports, such as this one, provide tangible evidence that practice in the mineral development industry is evolving as it transitions toward more cleantech materials production; embraces new, more efficient process technologies; and reduces the scale of its initial operations - all resulting in a greatly reduced environmental footprint compared to that associated with the traditional mining industry."

The Company has also recently completed the filings of its 2022 audited Consolidated Financial Statements, Management's Discussion and Analysis and Annual Information Form with Canadian security regulators, for the Company's fiscal year ended August 31, 2022. Copies of these filings are available through SEDAR at http://www.sedar.com and they are also accessible on the Company's website at http://www.avalonadvancedmaterials.com/investors/regulatory_filings.

About Avalon Advanced Materials Inc.

Avalon Advanced Materials Inc. is a Canadian mineral development company specializing in sustainably-produced materials for clean technology. The Company now has four advanced stage projects, providing investors with exposure to lithium, tin and indium, as well as rare earth elements, tantalum, cesium and zirconium. Avalon is currently focusing on developing its Separation Rapids Lithium Project near Kenora, Ontario while continuing to advance other projects, including its 100%-owned Lilypad Cesium-Tantalum- Lithium Project located near Fort Hope, Ontario. Social responsibility and environmental stewardship are corporate cornerstones.

For questions and feedback, please e-mail Avalon President and CEO, Donald Bubar, at ir@AvalonAM.com.

This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements related to sustainability performance targets for 2023 and long-term goals. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "potential", "scheduled", "anticipates", "continues", "expects" or "does not expect", "is expected", "scheduled", "targeted", "planned", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be" or "will not be" taken, reached or result, "will occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Avalon to be materially different from those expressed or implied by such forward-looking statements. Forward-looking statements are based on assumptions management believes to be reasonable at the time such statements are made. Although Avalon has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Factors that may cause actual results to differ materially from expected results described in forward-looking statements include, but are not limited to market conditions, and the possibility of cost overruns or unanticipated costs and expenses as well as those risk factors set out in the Company's current Annual Information Form, Management's Discussion and Analysis and other disclosure documents available under the Company's profile at www.SEDAR.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Such forward-looking statements have been provided for the purpose of assisting investors in understanding the Company's plans and objectives and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking statements. Avalon does not undertake to update any forward-looking statements that are contained herein, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/146748

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