Adavale Resources (ASX:ADD) Advances Drill Target Definition at Ashes Prospect

Jane Morgan Management

26 August 2025 – Sydney, Australia | Adavale Resources Limited (ASX:ADD), an Australian junior explorer focused on gold and copper in the Lachlan Fold Belt of New South Wales, is pleased to announce significant progress in refining drill targets at its high conviction Ashes Prospect, located 12km east of the Northparkes mine (5.2Moz Au & 4.4Mt Cu).

The Company has commenced a detailed ground magnetics survey and Induced Polarisation (IP) survey to build on historic exploration and better define the geometry and extent of a previously identified chargeability anomaly.

Exploration activities underway include:

• Ground Magnetics Survey: a high-resolution survey covering 11.9km² on 50m line spacing (238-line km total). The data aims to detect subtle anomalies, including small footprint but highly prospective porphyry-related intrusive systems.

• Induced Polarisation (IP) Survey: currently conducting 4 x 1,600m lines, spaced 200m apart, north of the anomaly. This work seeks to extend and refine the previously defined 50 mV/V chargeability anomaly that remains open to the north.

The Ashes Prospect is situated within the Lachlan Fold Belt, in a geological setting analogous to Northparkes. Historic rock chip sampling in the vicinity has returned high grades, including:

• 10.65 g/t Au, 1.98% Cu & 158 g/t Ag

• 7.95 g/t Au, 2.2% Cu & 96.4 g/t Ag

• 0.74 g/t Au, 0.76% Cu & 58.9 g/t Ag

Adavale Resources Executive Chairman and CEO, Mr. Allan Ritchie, commented:
“Adavale is currently carrying out a ground magnetics survey and most recently commenced an IP survey to better define and expand a previously identified high conviction chargeability anomaly. Following processing of the new IP data and interpretation of the results, Adavale intends to drill test the anomaly. 

Adavale continues to progress its dual exploration and development strategy. Assay results from our brownfields London Victoria Mine are imminent and the company is advancing our greenfields prospects in the ongoing search for a new discovery on the Parkes Project.”

Next Steps at the Parkes Project

In parallel with the Ashes program, Adavale is advancing exploration across its broader Parkes Project, with several near-term milestones:

• Assay Results: A 14-hole, 2,060m RC drilling program at London Victoria Mine was completed in early August, with assay results expected this quarter.

• Resource Growth Potential: The recent JORC 2012 Inferred Mineral Resource Estimate (MRE) will support further exploration to extend tonnage and grade outside the current resource area.

• Geochemical Survey Planning: Target identification for future geochemical programs, with Parkvale South flagged as a high-priority area.

• Prospect Reconnaissance: Additional reconnaissance across No Mistake (EL8830), The Dish (EL9711), and Front Gate (EL8831). Twelve rock chip samples have recently been collected from the Corner prospect, with assays pending.

ABOUT ADAVALE RESOURCES
Exploring for Gold and Copper in the NSW Lachlan Fold Belt, Uranium in South Australia, and Nickel Sulphide in Tanzania.

The Parkes Project
Adavale Resources Limited (ASX:ADD) tenements span ~371km2 including 100% of EL9785 and a 72.5% interest in the Parkes Gold and Copper Project, consisting of four granted exploration licences that are highly prospective for Au-Cu, primarily due to their location adjacent the giant Northparkes copper-gold mine and encompassing the Ordovician-aged rocks of the Macquarie Arc, within the crustal-scale structure of the Lachlan Transverse Zone (LTZ) that contain both Northparkes and the world-class Cadia gold-copper Mine. 

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