• Acquisition of strategic exploration licences adjacent to Parkes Gold-Copper Project
• Expands Adavale's tenement holding to 440 sq km along 56 km of the Parkes Thrust gold corridor
• Enhances ability to explore and extend the Ashes Prospect and London-Victoria Gold Corridor

Adavale Resources Limited (ASX:ADD) has entered into an agreement to acquire a package of exploration licences (ELs) from Alkane Resources Limited. The acquired 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-southwest and along strike from the London-Victoria Gold Mine. The expanded tenure consolidates Adavale's footprint from 380 sq km to 440 sq km, spanning a strike of 56 km along the highly prospective Parkes Thrust gold corridor. Adavale views this as a strong endorsement of the quality and upside of the expanded tenure, with Alkane becoming an important shareholder in Adavale post-completion. Adavale is now fully funded to aggressively advance exploration across its expanded project portfolio, with a focus on growing and upgrading the resource at the London-Victoria project while also progressing high-priority targets across the Parkes tenure.

Adavale's immediate focus remains on growing and upgrading the resource at the London-Victoria project, while swiftly and systematically progressing high-priority targets across the expanded Parkes tenure.