Toronto, Ontario--(Newsfile Corp. - October 9, 2024) - Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) ("Avalon" or the "Company"), today shared the results of a third-party study conducted by RIAS Inc. (RIAS), an Ottawa-based consulting firm. This report, based on the recent Preliminary Economic Assessment (PEA) and customized input-output multipliers from Statistics Canada, details the significant economic and labour impacts from Avalon's proposed lithium processing facility in Thunder Bay, Ontario ("The Lake Superior Lithium Project" or the "Project").

The full report is available on the Company's website.

Scott Monteith, CEO of Avalon, stated: "the report illustrates the substantial benefits to the City of Thunder Bay and aligns well with the Sustainable Jobs Act, helping create the net-zero workforce of the future. The positive impacts will ripple through the community, supporting local businesses and enhancing the region's overall economic vitality. This initiative promises long-term prosperity, enriching the city and creating lasting value for its residents."

Local to National Benefits over the Project Lifespan (2027- 2058)

The Project will have a significant economic multiplier effect across the Thunder Bay community, to the Northwestern Ontario region, to the province, and to the country through GDP, labour income, and employment. The study assessed the economic impacts of the two principal phases of the Project: construction, beginning in 2027, and operations, starting in 2028. see & read more on
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