\ www.adavaleresources.com Adavale Resources Limited Level 2, 49 Oxford Close West Leederville, WA, 6007 Directors & Officers ALLAN RITCHIE Executive Chairman & CEO DAVID WARD Managing Director NIC MATICH Non-Executive Director LEONARD MATH CFO & Company Secretary ASX: ADD Adavaleresources Adavale_ASXADD Investor@adavaleresources.com +61 2 9127 9852 ASX ANNOUNCEMENT 17 February 2026 Acquisition of Adjacent Strategic Exploration Tenure Adavale’s 100% acquisition of a strategic exploration tenure package adjacent and complementary to our Parkes Gold-Copper Project from Alkane Resources for 100% scrip. • The complementary acquisition covers 2 areas o Southern 14 units of EL5675 adjacent to the Ashes Prospect (EL8831). o EL9178 immediately south of the London-Victoria Gold Mine title (EL7242). • Alkane Resources Limited (ASX:ALK) will become an important shareholder in Adavale post completion. • Adavale’s contiguous Parkes tenement holding now stands at 440km² and spans a strike of 56km of the gold rich Parkes Thrust 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, is pleased to advise on a strategic acquisition, consolidating additional adjacent tenure to its existing Parkes Gold-Copper Project. Adavale Resources has entered into an agreement to acquire a package of exploration licences (ELs) from established mining company Alkane Resources Limited. The ELs are directly adjoining the existing Parkes Gold-Copper project area. The acquisition of the southern 14 units of EL5675 materially enhances Adavale’s ability to systematically and effectively explore and extend the Ashes Prospect. In addition, EL9178 secures highly strategic ground along this highly prospective structural trend immediately south-south- west and along strike from the London–Victoria Gold Mine. Adavale also recognises and appreciates the highly constructive and collaborative approach taken by Alkane throughout Adavale’s exploration process, including allowing the Company to extend its IP survey lines into EL5675. This cooperation enabled Adavale to close off previously identified IP and geochemical anomalism1 along the tenement boundary. Now that the licence constraints have been removed, this provides the opportunity to re-evaluate the full IP dataset without boundary limitations. The Company views this as a strong example of the positive working relationship between the Adavale and Alkane. Adavale Resources Managing Director, Mr. David Ward, commented: “Acquisition of the adjacent tenement package strengthens Adavale’s regional position, expanding its footprint from 380km² to 440km² and consolidating approximately 56 kilometres of strike along the highly prospective and proven Parkes Thrust gold corridor. This acquisition also minimises the impact of the Ashes Prospect proximity to the EL boundary and extends the prospective strike of the London- Victoria Gold Corridor.” 1 7 May 2025 - IP Study Generates High Conviction Target at Ashes 2 Adavale Resources Executive Chairman and CEO, Mr. Allan Ritchie, commented: “Alkane’s decision to retain exposure through a shareholding in Adavale is a strong endorsement of the quality and upside of the expanded tenure, and Adavale is pleased to welcome Alkane as a shareholder. With the recent $5.15 million raise, Adavale is now fully funded to aggressively advance exploration across its project portfolio. Our immediate focus remains on growing and upgrading the resource at our brownfield near-term production opportunity at London–Victoria, while swiftly and systematically progressing high-priority targets across the expanded Parkes tenure.” Figure 1: Combined tenure post-acquisition 3 The complementary acquisition critically expands Adavale’s exploration tenure to cover key extensions to prospective areas that were impacted by encroaching on the boundary of the existing tenure, the expanded tenure adjacent to Ashes and where the interpreted strike south of London-Victoria runs into EL9178. Transaction Details Material Terms of Tenement Sale Agreement Acquisition Adavale Resources Limited (ASX:ADD) (ADD) (Purchaser) agrees to acquire and Alkane Resources Limited (ASX:ALK) (ALK) (Vendor) agrees to sell 100% of its rights, title and interest in the Sale Assets which includes: (a) the entirety of EL 9178 (free of any Encumbrances); and (b) has provided ADD an irrevocable Letter of Consent allow Adavale to make an application for a 100% legal and beneficial interest in a new exploration licence (New Tenement) over the tenure comprising 14 units of EL 5675 Consideration The consideration comprises; a) 5,500,000 fully paid ordinary shares in ADD at a deemed issue price of $0.05 per share, to be subject to voluntary escrow for 6 months from the date of issue Conditions Precedent Completion of the Acquisition is conditional upon the satisfaction (or waiver) of the following Conditions Precedent: (a) Due diligence: completion of financial, legal and technical due diligence by the Purchaser Group on the Tenements, to the absolute satisfaction of the Purchaser Group; (b) Regulatory approvals: the Parties obtaining all necessary regulatory approvals or waivers pursuant to the ASX Listing Rules, Corporations Act or any other law to allow the Parties to lawfully complete the matters set out in this Agreement; (c) Third party approvals: the Parties obtaining all third party approvals and consents, including the consent of the Minister responsible for the Mining Act (if required), necessary to lawfully complete the matters set out in this Agreement; and (d) Deeds of assignment and assumption: the Vendor, the Purchaser and, if necessary, under the Third Party Agreements (if any), the relevant third party, executing a deed of assignment and assumption in relation to each Third Party Agreement. The Conditions Precedent in clause (a) and (c) are for the benefit of the Purchaser, and may be waived by the Purchaser in its sole and absolute discretion. The Conditions Precedent in clause (b) and (d) are for the benefit of both Parties and may only be waived by both Parties in writing. If the Conditions Precedent are not satisfied (or waived by the Party with the benefit of the Condition Precedent) on or before the End Date, then any Party may terminate this Agreement by notice in writing to the other Party, in which case the agreement constituted by this Agreement will be at an end and the Parties will be released from their obligations under this Agreement (other than in respect of any breaches that occurred prior to termination). The Parties will use their best efforts to ensure that the Conditions Precedent are satisfied before the End Date. The Parties acknowledge and agree that the Tenement Application may be lodged prior to Completion. If this Agreement is terminated prior to Completion for any reason, the Purchaser must procure that the Purchaser’s Nominee promptly withdraws the Tenement Application and ceases to rely on the Letter of Consent, which will then lapse and have no further effect. The tenement sale agreement is otherwise on standard terms and conditions, including confidentiality provisions, and representations and warranties. 4 London-Victoria Gold Mine – Next Steps • Expanded Phase 3 Drilling program of an initial 6,000 metres underway • pXRF-based geochemical logging to refine lithological and geochemical discrimination and to confirm the distribution of the host andesite and sedimentary sequences. • Incorporate new structural data to continually refine Adavale’s geological and resource model which will in turn guide near-term drilling and resource growth. • Magnetic Survey: In the light of the positive magnetics vs gold association further airborne and/or ground based magnetic survey planning is underway. Data acquisition planned for March ’26. Next Steps at the Parkes Project Following completion of the acquisition, the Company will undertake a structured review of prospect priorities across the expanded Parkes Project, integrating geochemical, geophysical and structural datasets to refine targeting and sequence future exploration activities. This review will focus on assessing both brownfields extensions and regional opportunities, ensuring capital is directed toward the highest-priority targets within the enlarged tenure position. The Company will re-evaluate the Ashes IP survey in light of the expanded tenure, and reassess the broader area, with the view to potentially drill testing existing anomalism and extending the geochemical and geophysical surveys across what is now a consolidated exploration area. In addition, work programs will assess the interpreted southern extensions of the London–Victoria gold corridor into EL9178, leveraging the expanded land position to test along-strike continuity and identify additional targets along this highly prospective structural trend. Figure 2: Gantt Chart illustrating Adavale’s planned exploration work across its Parkes Gold-Copper Project, located in the Lachlan Fold Belt, NSW. 5 Parkes Gold-Copper Project Tenure (post Completion) Title Area (km²) EL7242 14.4 EL8830 109.2 EL8831 147.0 EL9711 83.4 EL9785 17.2 EL9829 8.6 ELA7017 40.3 EL9178 20.1 Total 440.2 Table 1: Parkes Gold-Copper Project Tenure 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 9127 9852 David Ward Managing Director Adavale Resources E: investor@adavaleresources.com P: +61 2 9127 9852 Jane Morgan Media and Investor Inquiries Jane Morgan Management E: jm@janemorganmanagement.com.au P: +61(0) 405 555 618 6 Forward Looking Statements Certain statements in this announcement are or may be “forward-looking statements” and represent Adavale’s intentions, projections, expectations, or beliefs concerning among other things, future exploration activities. The projections, estimates and beliefs contained in such forward-looking statements don’t necessarily involve known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Adavale Resources, and which may cause Adavale Resources actual performance in future periods to differ materially from any express or implied estimates or projections. Nothing in this announcement is a promise or representation as to the future. Statements or assumptions in this announcement as to future matters may prove to be incorrect and differences may be material. Adavale Resources does not make any representation or warranty as to the accuracy of such statements or assumptions. ASX Announcement References • 29 November 2024 “Transformational Gold and Copper Project Acquisition” • 5 May 2025 “Maiden JORC Resource at London-Victoria Project” • 7 May 2025 “IP Study Generates High Conviction Target at Ashes” • 20 Jan 2026 “Highest Grade Intercept at London Victoria” The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. Information on the Mineral Resources presented on the London-Victoria deposit is contained in the ASX announcement dated 5 May 2025. Where the Company refers to Mineral Resource in this presentation, 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 their with JORC Table 1 in which the Competent Person’s findings are presented have not materially changed from the original announcement. Competent Persons Statement The information in this document that relates to exploration results is based on information compiled by David Ward BSc, a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy (AUSIMM), (Member 228604). David Ward has over 25 years of experience in metallic minerals mining, exploration and development and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaking to qualify as a ‘Competent Person’ as defined under the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Ward consents to the inclusion in this report of thematters based on his information in the form and context in which it appears 7 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. South Australian Uranium Portfolio Adavale also holds 11 granted exploration licences that are prospective for their sedimentary uranium potential. 7 are held within the northern part of the highly- prospective Northern outwash from the Flinders Ranges in South Australia, as well as 4 granted 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 13 highly prospective granted licences along the East African Nickel 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.