• High quality surface gold anomalies, parallel and along strike
• 2nd drill rig due to start imminently
• Victoria South Prospect high priority target with peak soil gold values up to 600ppb Au

Adavale Resources Limited (ASX:ADD) has announced progress on its Parkes Gold-Copper Project, with a review and compilation of near-mine surface geochemistry revealing multiple high-quality near-mine gold targets close to the London-Victoria Gold Mine. These targets are defined by coherent and well-developed soil gold anomalies, with footprints comparable in scale and tenor to those associated with the known London-Victoria mineralisation. Their position along the interpreted London-Victoria shear zone, and within the immediate mine corridor, materially increases the likelihood of successful drill conversion into additional Mineral Resources. The Company is advancing these near-mine targets through a model-driven exploration approach, underpinned by a rapidly evolving understanding of the structural controls on gold mineralisation at London-Victoria Gold Mine. The Victoria South Prospect is highlighted as a significant near-mine growth opportunity located directly along strike and south of the London-Victoria Gold Mine, with a coherent soil gold anomaly displaying peak values of up to 600ppb Au. Future drill testing at this prospect is expected to confirm the potential for a shallow, unmined continuation of the mineralised system and further near-term resource growth. The Company also outlined next steps for the London-Victoria Gold Mine, including brownfields drilling, metallurgical testing, preliminary scoping studies, and geophysical surveys, as well as plans for greenfields exploration across its broader Parkes Gold-Copper Project.

The Company sees strong potential for future near-mine drilling to advance these anomalies and add to the existing 115koz gold inventory at the London-Victoria Gold Mine. The proximity of these targets to existing infrastructure provides a clear pathway for rapid evaluation and potential conversion into new Mineral Resources, positioning the near-mine pipeline as a key driver of incremental addition of gold ounces.