Adavale Resources Commences Phase 2 drilling at London-Victoria Gold Mine Targeting Extensions Beneath Pit and Potential Resource Growth

Jane Morgan Management

3 December 2025 – Sydney, Australia | Adavale Resources Limited (ASX:ADD) has commenced high-conviction Phase 2 drilling at its London-Victoria Gold Mine, a key site within the Company’s Parkes Gold-Copper Project in the Lachlan Fold Belt of New South Wales.  

Phase 2 comprises an approximately 10-hole, ~2,300m reverse circulation (RC) drilling program designed to test a series of growth targets in the southern portion of the 1.5km-long open pit at the site. The program is targeting extensions to gold mineralisation beneath the existing pit (below the pit floor in particular) in support of potential resource growth beyond the currently defined Mineral Resource Estimate.

The drilling follows Adavale’s maiden drilling program, which delivered the strongest gold intercept reported at London-Victoria in 30 years, including:

• ALRC014: 48m @ 0.82g/t Au from 133m (including a higher-grade interval of 25m @ 1.2g/t Au from 144m), extending mineralisation ~100m below the pit floor & outside the current JORC MRE of 3.14Mt @ 1.06 g/t Au for 107koz.

Adavale Resources Managing Director, Mr. David Ward, commented: “It was incredibly satisfying when the structural geology model results correlated with the strong gold results from the first phase of drilling. The geological understanding of the deposit is building at every turn, the hard work, persistence and detailed technical effort from the entire Adavale team continues to deliver. My focus now shifts to on-ground execution, to ensure each hole drillhole gives London–Victoria the opportunity to demonstrate what we believe it is capable of delivering.”

Adavale Resources Executive Chairman and CEO, Mr. Allan Ritchie, commented: “This drilling program is the most technically informed Adavale has undertaken at London–Victoria to date. Structural mapping shows that gold mineralisation extends over 1.5km of strike and is controlled by a major east-dipping shear and associated anticline. Importantly, the folded and stacked sequence is interpreted to repeat in parallel at depth and plunge to the south, materially increasing the scale and growth potential of the system. We are now entering the phase where the true scale of London–Victoria can be tested and we look forward to reporting further progress as soon as results come to hand.”

The Phase 2 program has been informed by a recently completed 3D structural geology model and a structural study completed by independent structural geologist Ian E. Neilson MSc RP Geo. 

Structural mapping indicates gold mineralisation extends over 1.5km of strike and is controlled by a major east-dipping shear and associated anticline, with Adavale interpreting the folded and stacked sequence may repeat in parallel at depth and plunge to the south, which supports the scale and growth potential of the system.

The drilling program is being directly led and overseen on site by Adavale’s recently appointed Managing Director, David Ward, who has 30 years of experience and a track record of discovery across the Lachlan Fold Belt. The drilling campaign is scheduled to continue until 18 December 2025, with assays expected in January/February 2026. Adavale will consider commencing Phase 3 drilling, subject to results of the campaign.

About Adavale Resources (ASX:ADD)

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]