• Acquisition of 2 exploration licenses adjacent to Parkes Gold-Copper Project
• Expands Adavale's tenement holding to 440 sq km, consolidating 56 km of strike
• Alkane Resources to become significant shareholder in Adavale

Adavale Resources Limited (ASX:ADD) has entered into an agreement to acquire a package of exploration licenses (ELs) from Alkane Resources Limited. The ELs are directly adjoining Adavale's existing Parkes Gold-Copper project area. The acquisition includes the southern 14 units of EL5675, which materially enhances Adavale's ability to systematically explore and extend the Ashes Prospect. It also secures EL9178, which covers highly strategic ground along the prospective structural trend immediately south-south-west and along strike from the London-Victoria Gold Mine. The complementary acquisition expands Adavale's exploration tenure to 440 sq km, consolidating approximately 56 kilometres of strike along the highly prospective Parkes Thrust gold corridor. Alkane Resources will become an important shareholder in Adavale post completion of the transaction. Adavale is now fully funded to aggressively advance exploration across its expanded project portfolio, with an immediate focus on growing and upgrading the resource at the London-Victoria project and progressing high-priority targets across the Parkes tenure.

Following completion of the acquisition, Adavale will undertake a structured review of prospect priorities across the expanded Parkes Project, integrating geochemical, geophysical and structural datasets to refine targeting and sequence future exploration activities. This will focus on assessing both brownfields extensions and regional opportunities, ensuring capital is directed toward the highest-priority targets within the enlarged tenure position.