Water Tower Research Publishes Initiation of Coverage Report on Avalon Advanced Materials Inc., “Pursuing Dual-Track Strategy to Enable Domestic REE & Lithium Processing Self-Sufficiency”

April 7, 2026, ST. PETERSBURG, FL – Water Tower Research (www.watertowerresearch.com) has published an Initiation of Coverage Report on Avalon Advanced Materials Inc. (OTCQB: AVLNF) titled, “Pursuing Dual-Track Strategy to Enable Domestic REE & Lithium Processing Self-Sufficiency”. The report can be accessed here. Avalon Advanced Materials Inc. (TSX: AVL; OTCQB: AVLNF) is a Canadian critical minerals company formed in 1991 and headquartered in Toronto, Ontario, focused on advancing a vertically integrated North American supply chain for rare earths and battery materials. Its flagship asset is the 100%-owned Nechalacho REE and Zirconium Project in the Northwest Territories, an advanced-stage deposit containing both LREEs and HREEs alongside zirconium, niobium, and tantalum. The project has been studied to feasibility level with a staged development approach and benefits from a geologically differentiated, vertically zoned system with meaningful exposure to higher-value heavy rare earths, compared with other REE deposits in production or development.