Announcement PDF ASX ANNOUNCEMENT 26 May 2025 ASX: ADD Proposed Share Consolidation Adavale Resources Limited (ASX:ADD) (“Adavale” or the “Company”), an Australian junior explorer focused on gold and copper in the Lachlan Fold Belt of New South Wales, hereby announces its intention to undertake a consolidation of the issued capital of the Company on the basis that every 20 securities currently held be consolidated into 1 security at a ratio of 20:1 (“Consolidation”), subject to receiving shareholder approval at a General Meeting scheduled to be held on 27 June 2025 (“General Meeting”). The Company currently has approximately 2,287,279,222 fully paid ordinary shares in the capital of the Company (individually, a “Share”) on issue. If the Consolidation is approved at the General Meeting, the Company anticipates that it will have approximately 114,363,961 Shares on issue (subject to rounding) following completion of the Consolidation. The Company proposes to undertake the Consolidation for the following reasons: (a) the current capital structure of the Company represents a relatively large number when compared to its ASX-listed peer group; and (b) the Consolidation will result in a more appropriate and effective capital structure for the Company and a share price more appealing to a wider range of investors, particularly institutional investors. If the Consolidation is approved, all options to acquire a Share (individually, an “Option”) and rights to acquire a Share subject to the satisfaction of performance milestones (individually, a “Performance Right”) currently on issue will be consolidated in the same ratio as Shares, and the respective exercise prices of the Options and VWAP milestones for the Performance Rights will be amended in the inverse proportion to that ratio (all in accordance with ASX Listing Rules 7.21 and 7.22.1). Where the Consolidation would result in a fractional entitlement to a Share, Option or Performance Right, that fractional entitlement will be rounded down to the nearest whole Share, Option or Performance Right. Furthermore, the Company does not anticipate that the Consolidation will result in a material change to the aggregate value of each security holder’s holding (and the Company’s market capitalisation), assuming no other market movements or impacts occur. Adavale Resources Executive Chairman and CEO, Mr. Allan Ritchie, commented: “The Adavale Board sees this share consolidation as an important and positive step in Adavale’s journey. It reflects our commitment to delivering long-term shareholder value by improving the company’s capital structure that better positions Adavale for future growth. The Company continues to advance its Parkes Gold and Copper Project which includes the recently defined maiden Mineral Resource Estimate of 107koz at 1.06g/t Au at the London-Victoria gold prospect. We look forward to being able to commence resource extending drilling program to significantly increase the maiden resource and delivering an Exploration Target in the near term.” Directors & Officers Adavaleresources ALLAN RITCHIE NIC MATICH Executive Chairman & CEO Non-Executive Director AdavaleL Investors@adavaleresources.com DAVID WARD LEONARD MATH Non-Executive Director CFO & Company Secretary www.adavaleresources.com +61 2 8003 6733 Adavale Resources Limited Level 2, 49 Oxford Close West Leederville, WA, 6007 \ The Consolidation will take effect in accordance with the following proposed timetable: ACTION DATE Company announces Consolidation and releases Appendix 3A.3 Company sends out the Notice of General Meeting Monday, 26 May 2025 Wednesday, 28 May 2025 Shareholders approve the Consolidation Friday, 27 June 2025 Company announces effective date of Consolidation Friday, 27 June 2025 Effective date of Consolidation Friday, 27 June 2025 Last day for pre-Consolidation trading Monday, 30 June 2025 Post-Consolidation trading commences on a deferred settlement basis Tuesday, 1 July 2025 Record Date Last day for the Company to register transfers on a pre-Consolidation basis Wednesday, 2 July 2025 First day for the Company to update its register and send holding statements to security holders reflecting the change in the number of securities they hold Thursday, 3 July 2025 Last day for the Company to update its register and to send holding statements to security holders reflecting the change in the number of securities they hold and to notify ASX that this has occurred Wednesday, 9 July 2025 Further details on the Consolidation, including the information required to be provided to shareholders of the Company under the Corporations Act 2001 (Cth) and the ASX Listing Rules will be set out in a Notice of General Meeting. This announcement is authorised for release by the Board of Adavale Resources Limited. Further information: Allan Ritchie Executive Chairman and CEO Adavale Resources E: investor@adavaleresources.com P: +61 2 8003 6733 Jane Morgan Media and Investor Inquiries Jane Morgan Management E: jm@janemorganmanagement.com.au P: +61(0) 405 555 618 Competent Persons Statement Information on the Mineral Resource estimate at the London-Victoria Gold Project, together with JORC Table 1 information is contained in the ASX announcement dated 5 May 2025 titled “Maiden JORC Resource at London-Victoria Project”. Where the Company refers to Mineral Resource estimate in this announcement (referencing previous releases made to the ASX), it confirms that it is not aware of any new information or data that materially affects the information included in that announcement and all material assumptions and technical parameters underpinning the Mineral Resource estimate with that announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons findings are presented have not materially changed from the original announcement. 2 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) holds 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 worldclass Cadia gold-copper Mine. A JORC Inferred Mineral Resource Estimate of 115koz Au defined at the London-Victoria Gold Project. Within this estimate there is a higher-grade mineralised total of 3.14Mt at 1.06g/t Au for 107koz. South Australian Uranium Portfolio Adavale also holds seven granted exploration licences that are prospective for their sedimentary uranium potential within the northern part of the highly- prospective Northern outwash from the Flinders Ranges in South Australia, as well as four exploration licence east of Ceduna on the Eyre Peninsula increasing Adavale’s uranium tenement holdings to 4,959km2. The Kabanga Jirani Nickel Project Adavale also holds the Kabanga Jirani Nickel Project, a portfolio of twelve highly prospective granted licences along the Karagwe-Ankolean belt in Tanzania. The nine southernmost licences are proximal to the world class Kabanga Nickel Deposit (87.6Mt @ 2.63% Ni Eq). Adavale holds 100% of all licences except for two licences that are known as the Luhuma-Farm-in, which are held at 65%, adding a further 99km2 and bringing the portfolio to 1,315km2. Adavale’s licences were selected based on their strong geochemical and geophysical signatures from the previous exploration undertaken by BHP. 3