Adavale Resources Appoints New Non-Executive Director & Technical Director, and Accelerates Parkes Project with Assay Results and Resource Review Underway

Jane Morgan Management

Sydney, Australia – 11 April 2025 | Adavale Resources Limited (ASX: ADD) (“Adavale” or “the Company”) is pleased to report continued progress at its Parkes Gold and Copper Project in the Lachlan Fold Belt, NSW, as it advances its multi-target exploration strategy, including a review of the London-Victoria Gold Mine Historical Estimate and recent high-grade rock chip assays from the Ashes Prospect.

In a further development to strengthen its technical capability, Adavale also announces the appointment of Mr David Ward as Non-Executive Technical Director, adding extensive gold and copper exploration and operational experience to the Company’s Board.

Highlights

• Derisk Geomining Consultants engaged to review the London-Victoria Historical Estimate of 3.70Mt @ 1.04g/t Au for 124koz with the aim of upgrading to a JORC 2012 Mineral Resource Estimate.
  
  

• Drillhole AEIDD001 intersected a 20m quartz-carbonate-pyrite-sericite alteration zone ~150m below the existing pit floor, returning:
  
  

  • 3m @ 0.40 g/t Au (including 1m @ 1.02 g/t Au from 356m)
    
    

• Highest-grade rock chip sample to date returned from the Ashes Prospect:
  
  

  • 10.65 g/t Au, 1.98% Cu, 158 g/t Ag
    
    

• Geochemical assay results from the March survey at Ashes and Myalls expected in April; maiden drilling planned for Q2 2025.
  
  

These developments build on the growing potential of the Parkes Project to generate near-term drilling targets and resource additions in one of Australia’s premier gold-copper belts.

Adavale Executive Chairman and CEO, Allan Ritchie, commented:

“Adavale's focus is delivering results, particularly when the gold price is trading at all time highs. The Parkes project located in the Lachlan Fold Belt is emerging as a great opportunity for Adavale. The recent assays have provided the Company with further geological understanding of the Parkes Project, allowing us to better target mineralisation at the London-Victoria Gold Mine and the key Ashes and Myalls Prospects, as well as numerous other targets across our licences. 

Our engagement with Derisk Geomining is to complete a review with a view to conversion of the Historical Resource Estimate to JORC 2012 status, at a time where gold prices have topped AU$5,000 per Oz, Adavale is excited about the potential to exploit the Historical Estimate which is adjacent to infrastructure in a mining friendly jurisdiction.”

Board Strengthens with Appointment of David Ward

Adavale is also pleased to announce the appointment of Mr David Ward as Non-Executive Technical Director, bringing over 25 years’ experience across gold and copper exploration, project development and mining operations.

Mr Ward was previously Chief Geologist of Bacchus Resources, where he was instrumental in defining over 950,000 ounces of gold resources, with multiple assets subsequently acquired by ASX-listed explorers. His prior roles include key technical positions with Newcrest Mining at the Cadia Gold Mine, and Clancy Exploration, focusing on porphyry and epithermal systems in the Lachlan Fold Belt.

Mr Ward’s appointment aligns with Adavale’s growth strategy to drive value through exploration, especially as the Parkes Project enters its next stage of drilling and development.

Adavale Resources Executive Chairman and CEO, Mr Allan Ritchie, commented: “We are delighted to welcome David to the Board. His deep technical expertise and proven ability to convert exploration concepts into defined resources will be instrumental as we continue to mature our projects and deliver value to shareholders. 

David joins at an exciting time for Adavale, with drilling at the Parkes Project imminent, record gold prices, and a highly prospective exploration pipeline in three jurisdictions. His appointment reflects our focus on adding high-calibre technical talent to support the next phase of our growth. 

I’d also like to sincerely thank John Hicks for his outstanding service. John’s contribution to our geological strategy and Board has been invaluable, and we wish him all the vest best in his future endeavours.” 

Adavale income Non-Executive Technical Director, Mr David Ward, commented: “I’m excited to join Adavale at such pivotal time. The Company has assembled a compelling portfolio of exploration assets in some of Australia’s most prospective mineral belts. 

I look forward to working closely with Allan and the team to advance our Parkes Project which lies in a tier-1 copper-gold province. With drilling on the horizon and strong commodity fundamentals, it’s a great time to be joining the Company.”

Mr John Hicks has retired from the Board following his valuable contributions to Adavale’s geological strategy and technical leadership. The Board extends its gratitude and best wishes for his future endeavours​.

For Further Information...

Allan Ritchie
Executive Chairman and CEO
[email protected]

Jane Morgan
Media & Investor Relations
Jane Morgan Management
[email protected]

Jane Morgan
Media & Investor Relations
Jane Morgan Management
[email protected]