Avalon Advanced Materials Inc. has released its 10th annual comprehensive sustainability report, along with its 2021 annual filings, including the audited financial statements.

The 2021 sustainability report focuses on health, safety, social, environmental and economic matters, including the company's ambitions to start to produce critical minerals for clean technology in sustainable ways. The report was prepared in accordance with the Global Reporting Initiative Standards. It includes a self-assessment of the company's 2021 fiscal year sustainability performance and sets targets for 2022 against the Mining Association of Canada's Toward Sustainable Mining indicators. It is available at the company's website.

Avalon president and chief executive officer Don Bubar commented: "Avalon is very much on the forefront of sustainable best practices in mineral development, with a strong track record and a forward-thinking management team that makes sustainability a priority. The concept of extracting value from historic mine wastes while fully remediating the long-term environmental liability, that we have been advocating for many years, is now recognized as an opportunity to establish the circular economy in the mining industry. Avalon's East Kemptville tin-indium project is well positioned to provide a first precedent for this model in Canada."

Sepration Rapids lithium project update

Work continues on the Separation Rapids lithium project toward acquiring a demonstration-scale dense media separation plant to begin processing the 5,000-tonne bulk sample collected earlier this year and begin producing petalite concentrate product samples for glass/ceramic end-users that have expressed interest and for further battery material testwork. The company has also received several new expressions of interest in the lithium battery material product from consumers also interested in partnering with Avalon on establishing the battery material refinery in Thunder Bay. Once a firm commitment is received, the company is optimistic that it can soon proceed with construction and take advantage of additional funding support available from several new government programs announced recently to support creating new battery manufacturing capacity and related supply chains in Ontario.

The company has also received results from its recent mapping program on the northwestern part of the property to follow up on the new Snowbank petalite pegmatite discovery made in 2018. The new results extend the known strike length of the Snowbank lithium pegmatite by 50 per cent to 127 metres and confirmed the widespread presence of coarse-grained petalite mineralization (as previously reported), which would make an ideal additional source of petalite for the glass/ceramic markets. The company is now planning to proceed with a winter diamond drilling program to begin to delineate the size potential of the new Snowbank discovery. There are also several other lithium pegmatites in the same area that may merit initial drill testing. Preparation of the necessary access trails is under way, and work toward securing the necessary drilling permits is progressing.

The company has also completed the filing of its 2021 consolidated financial statements, management's discussion and analysis, and annual information form for the fiscal year ended Aug. 31, 2021, with Canadian security regulators. Copies of these filings are available through SEDAR or on the company's website.

The technical information included in this news release on the Separation Rapids lithium project has been reviewed and approved by the company's vice-president of exploration, Dr. William Mercer, PGeo (Ontario), a qualified person under National Instrument 43-101.

About Avalon Advanced Materials Inc.

Avalon Advanced Materials is a Canadian mineral development company specializing in sustainably produced materials for clean technology. The company 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, Ont., while continuing to advance other projects, including its 100-per-cent-owned Lilypad cesium-tantalum project (reactivated in 2020). Social responsibility and environmental stewardship are corporate cornerstones.