Announcement PDF \ 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 ASX ANNOUNCEMENT 9 April 2026 Adavaleresources Adavale_ASXADD Investors@adavaleresources.com +61 2 8003 6733 Bonanza Gold Grades up to 245g/t at Victoria South Significant gold in historic drilling at Victoria South • Victoria South (Vic-Sth) historic drilling confirms extension potential of the London-Victoria Gold Mine along strike to the south • Vic-Sth drilling validates surface sampling and highlights the near-mine footprint materially exceeds the scale of the existing London–Victoria MRE (Figure 3) • Bonanza grade intercept of 1m @ 245.5g/t Au from 22m (KGC12) • Further significant intercepts include (Figure 1 & Figure 2): o 17m @ 1.53g/t Au from 12m (KGC10) o 13m @ 2.25g/t Au from 41m (KGC11) o 15m @ 1.68g/t Au from 36m (KGC14) o 14m @ 1.05g/t Au from 14m (KGC15) o 13m @ 1.37g/t Au from 57m (KGC15) o 11m @ 2.37g/t Au from 16m (KGC17) o 11m @ 1.51g/t Au from 1m (KGC20) • These thick, shallow intercepts are interpreted as a direct extension of the existing London-Victoria 115koz gold Mineral Resource • Victoria South has potential to add significantly to the existing resource inventory Adavale Resources Limited (ASX:ADD) (“Adavale” or the “Company”), is pleased to announce progress on its Parkes Gold-Copper Project results from a review and compilation of near-mine drillhole datasets. Adavale Resources Managing Director, Mr. David Ward, commented: “The validation of historical drilling at Victoria South confirms the opportunity for a southern extension of the London–Victoria mineralised system, with multiple shallow, high-grade intercepts supporting strong continuity along strike. The prospect fits directly within our evolving structural model, and with drone magnetics extending into this area, we are well positioned to refine targets in advance of drilling. Victoria South represents a priority near-mine opportunity with potential to deliver additional shallow ounces to support ongoing Mineral Resource growth.” Adavale Resources Executive Chairman and CEO, Mr. Allan Ritchie, commented: “Results from the Victoria South Prospect reinforces the strong momentum building across the Parkes Copper-Gold Project, with shallow high-grade results including a bonanza grade intercept of 1m @ 245.5g/t Au from 22m highlighting the quality of mineralisation emerging along strike. With multiple workstreams advancing in parallel, we are rapidly building scale at London–Victoria while continuing to unlock new opportunities across the broader project.” 2 Figure 1: Section A-A’ Victoria South Prospect Potential for Significant Increase to London Victoria Gold Resource Gold mineralisation at the London–Victoria Gold Mine has been recognised since its initial discovery in 1863, with extensive historic mining and exploration focused along the London– Victoria structural corridor. Recent evaluation of surface geochemical data identified a coherent gold anomaly at the Victoria South Prospect, located immediately south of the existing open pit. A detailed review and compilation of historical drilling completed in 1995 has confirmed that this surface anomalism is underpinned by significant gold mineralisation at shallow depths. These drillholes, completed by Sipa Exploration NL under a farm-in agreement with Michelago Resources NL, returned multiple high-grade intercepts but were not systematically followed up at the time. Importantly, the Victoria South Prospect straddled the historical boundary between Exploration Licence EL4945 and the London–Victoria Mining Lease (ML1215), which is interpreted to have limited follow-up drilling where mineralisation extended into ground held by BHP Gold. With these tenure constraints now removed and the area consolidated under Adavale’s EL7242, this dataset has been integrated into the Company’s drillhole database for the first time. 3 Figure 2: Section B-B’ Victoria South Prospect Victoria South aligns with the Company’s evolving structural model, which highlights the importance of the London–Victoria shear zone and associated fold geometries in controlling gold mineralisation. The ongoing extension of high-resolution drone magnetic surveys into this area is expected to further refine structural interpretations and support drill targeting. The confirmation of shallow gold mineralisation at Victoria South represents a significant near- mine growth opportunity, located directly along strike from the existing Mineral Resource and well positioned to support rapid conversion through follow-up drilling. Confirmation that surface gold anomalism at Victoria South reflects underlying basement-hosted mineralisation has validated the effectiveness of the surface geochemical sampling, materially enhancing the opportunity presented by drill testing the other near-mine prospects. 4 Figure 3: Victoria South Locations of Section Lines overlayed on Near Mine Gold Surface Geochemistry and Prospect Footprints London-Victoria Gold Mine – Next Steps • Brownfields drilling o Systematic “drill out” underway to expand and upgrade existing mineralisation and support ongoing Mineral Resource growth. • Metallurgical testing o Preliminary metallurgical sighter test work to assess recoveries and support future development studies. • Preliminary scoping studies o Early-stage technical and economic assessments to evaluate development pathways and inform project prioritisation. • Geophysical surveys o High-resolution airborne geophysics to refine structural interpretation, improve targeting accuracy and prioritise follow-up drilling. 5 Greenfields Exploration – Regional Targets -Next Steps • Geophysical surveys o Extension of high-resolution magnetics at Ashes, into the newly acquired exploration tenure to assist target generation associated with the IP anomalism and high-grade surface sampling. • Surface geochemistry o Extension of systematic soil and rock-chip programs at Ashes, into the newly acquired exploration tenure to generate new anomalies and rank targets for drilling. • First-pass drilling o Initial drill testing of priority greenfields targets generated from geophysics and geochemistry to pursue new discoveries. Figure 4: Gantt Chart illustrating Adavale’s planned exploration work across its Parkes Gold-Copper Project, Lachlan Fold Belt, NSW. 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 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: • 7 April 2026: Exciting Near-Mine Targets 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 the matters based on his information in the form and context in which it appears. 7 Overview of The Parkes Project: A World-Class Geological Setting The Parkes Project comprises 9 granted exploration licences (EL’s) that cover a total area of ~489.4 km² strategically located within the Macquarie Arc of the Lachlan Fold Belt – a Tier-1 mining jurisdiction. The region hosts world-class operations such as Cadia Ridgeway (35.1Moz Au & 7.9Mt Cu) and Northparkes (5.2Moz Au & 4.4Mt Cu), adjacent and directly west of the Parkes Project. Figure 5: Map of the central New South Wales Lachlan Fold Belt 8 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 ~489.4km2 including 100% of EL9785, EL9829, EL9178, EL9741, ELA7017 and a 72.5% interest in EL7242, EL8830, EL8831, EL9711, consisting of 9 granted exploration licences that are highly prospective for Au-Cu, adjacent to the giant Northparkes copper-gold porphyry and Parkes Thrust Hosted orogenic deposits at London-Victoria, and Tomingley. The project area encompass’ the highly prospective Ordovician-aged rocks of the Macquarie Arc, which also host the massive Cadia copper-gold porphyry. 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. 9 Appendix 1 - Victoria South Prospect Historic Collars and Surveys Table 1: Victoria South Prospect Historic Collars and Surveys (note no downhole surveys reported) Hole ID Hole Type Depth Grid ID Easting GDA94 Northing GDA94 Elevation Dip Azimuth GDA94 KGR1 RAB 49 MGA94_55 604501.3 6327802.2 300 -60 279.4 KGR10 RAB 28 MGA94_55 604360.8 6327825.4 300 -60 279.4 KGR11 RAB 34 MGA94_55 604347.1 6327827.7 300 -60 279.4 KGR12 RAB 33 MGA94_55 604330.5 6327830.4 300 -60 279.4 KGR13 RAB 26 MGA94_55 604315.6 6327832.9 300 -60 279.4 KGR14 RAB 39 MGA94_55 604305.0 6327834.6 300 -60 279.4 KGR15 RAB 27 MGA94_55 604285.8 6327837.8 300 -60 279.4 KGR16 RAB 31 MGA94_55 604272.8 6327839.9 300 -60 279.4 KGR17 RAB 27 MGA94_55 604257.7 6327842.4 300 -60 279.4 KGR18 RAB 26 MGA94_55 604244.0 6327844.7 300 -60 279.4 KGR19 RAB 24 MGA94_55 604585.3 6327889.7 302 -60 279.4 KGR2 RAB 39 MGA94_55 604477.1 6327806.2 300 -60 279.4 KGR20 RAB 28 MGA94_55 604564.5 6327893.1 302 -60 279.4 KGR21 RAB 29 MGA94_55 604549.7 6327895.6 301 -60 279.4 KGR22 RAB 31 MGA94_55 604534.6 6327898.1 301 -60 279.4 KGR23 RAB 22 MGA94_55 604519.1 6327900.6 301 -60 279.4 KGR24 RAB 23 MGA94_55 604507.5 6327902.5 301 -60 279.4 KGR25 RAB 19 MGA94_55 604496.1 6327904.4 301 -60 279.4 KGR26 RAB 33 MGA94_55 604486.6 6327906.0 301 -60 279.4 KGR27 RAB 20 MGA94_55 604470.7 6327908.6 301 -60 279.4 KGR28 RAB 37 MGA94_55 604460.7 6327910.3 301 -60 279.4 KGR29 RAB 17 MGA94_55 604442.7 6327913.2 301 -60 279.4 KGR3 RAB 29 MGA94_55 604457.8 6327809.4 300 -60 279.4 KGR30 RAB 43 MGA94_55 604434.4 6327914.6 301 -60 279.4 KGR31 RAB 33 MGA94_55 604412.0 6327918.3 301 -60 279.4 KGR32 RAB 17 MGA94_55 604396.3 6327920.9 301 -60 279.4 KGR33 RAB 59 MGA94_55 604387.9 6327922.3 301 -60 279.4 KGR34 RAB 63 MGA94_55 604358.2 6327927.2 301 -60 279.4 KGR35 RAB 24 MGA94_55 604327.5 6327932.3 301 -60 279.4 KGR36 RAB 45 MGA94_55 604515.7 6328002.5 302 -60 279.4 KGR37 RAB 24 MGA94_55 604494.0 6328006.1 302 -60 279.4 KGR38 RAB 34 MGA94_55 604477.1 6328008.9 302 -60 279.4 KGR39 RAB 37 MGA94_55 604463.7 6328011.1 302 -60 279.4 KGR4 RAB 20 MGA94_55 604443.4 6327811.8 300 -60 279.4 KGR40 RAB 17 MGA94_55 604445.3 6328014.2 302 -60 279.4 KGR41 RAB 22 MGA94_55 604436.9 6328015.6 302 -60 279.4 KGR42 RAB 18 MGA94_55 604426.5 6328017.3 302 -60 279.4 KGR43 RAB 10 MGA94_55 604416.8 6328018.9 302 -60 279.4 KGR44 RAB 24 MGA94_55 604411.7 6328019.7 302 -60 279.4 KGR45 RAB 18 MGA94_55 604534.6 6327999.4 302 -60 279.4 KGR46 RAB 34 MGA94_55 604552.7 6327996.4 302 -60 279.4 10 Hole ID Hole Type Depth Grid ID Easting GDA94 Northing GDA94 Elevation Dip Azimuth GDA94 KGR47 RAB 24 MGA94_55 604393.7 6328022.7 302 -60 279.4 KGR48 RAB 30 MGA94_55 604383.0 6328024.5 302 -60 279.4 KGR49 RAB 34 MGA94_55 604624.2 6327984.6 302 -60 279.4 KGR5 RAB 26 MGA94_55 604434.6 6327813.2 300 -60 279.4 KGR6 RAB 29 MGA94_55 604424.1 6327815.0 300 -60 279.4 KGR7 RAB 29 MGA94_55 604410.1 6327817.3 300 -60 279.4 KGR8 RAB 36 MGA94_55 604397.3 6327819.4 300 -60 279.4 KGR9 RAB 40 MGA94_55 604380.7 6327822.1 300 -60 279.4 KGC1 RC 36 MGA94_55 604564.7 6328502.1 310.5 -60 279.4 KGC10 RC 60 MGA94_55 604545.7 6328464.7 310 -60 279.4 KGC11 RC 60 MGA94_55 604565.9 6328460.6 310.9 -60 279.4 KGC12 RC 60 MGA94_55 604584.8 6328456.9 312.1 -60 279.4 KGC13 RC 60 MGA94_55 604604.5 6328453.4 313.7 -60 279.4 KGC14 RC 60 MGA94_55 604556.9 6328441.9 310.3 -60 279.4 KGC15 RC 78 MGA94_55 604577.0 6328437.8 311.7 -60 279.4 KGC16 RC 60 MGA94_55 604596.7 6328433.8 313.6 -60 279.4 KGC17 RC 60 MGA94_55 604538.7 6328445.5 309.4 -60 279.4 KGC18 RC 60 MGA94_55 604606.7 6328534.5 312 -60 279.4 KGC19 RC 60 MGA94_55 604627.1 6328530.0 312.68 -60 279.4 KGC2 RC 60 MGA94_55 604574.3 6328500.3 311 -60 279.4 KGC20 RC 60 MGA94_55 604554.1 6328483.3 310.49 -60 279.4 KGC21 RC 60 MGA94_55 604573.9 6328479.7 311.4 -60 279.4 KGC22 RC 60 MGA94_55 604594.3 6328475.7 312.9 -60 279.4 KGC23 RC 60 MGA94_55 604613.5 6328472.7 313.9 -60 279.4 KGC24 RC 60 MGA94_55 604496.1 6328369.3 307.8 -60 279.4 KGC25 RC 60 MGA94_55 604514.4 6328366.3 308.3 -60 279.4 KGC26 RC 60 MGA94_55 604534.9 6328363.0 308.9 -60 279.4 KGC27 RC 60 MGA94_55 604554.1 6328360.3 309.8 -60 279.4 KGC3 RC 90 MGA94_55 604597.2 6328498.9 312.9 -60 279.4 KGC4 RC 48 MGA94_55 604521.7 6328407.0 308 -60 279.4 KGC5 RC 60 MGA94_55 604542.4 6328403.6 310 -60 279.4 KGC6 RC 84 MGA94_55 604567.1 6328399.4 311.1 -60 279.4 KGC7 RC 66 MGA94_55 604592.2 6328395.0 313.1 -60 279.4 KGC8 RC 60 MGA94_55 604457.5 6328214.9 304 -60 279.4 KGC9 RC 60 MGA94_55 604470.8 6328314.0 305 -60 279.4 LVD084 D 142.3 MGA94_55 604610.4 6328391.6 314.3 -55 279.5 LVD085 D 106.65 MGA94_55 604621.7 6328491.1 314 -57.5 279.5 11 Appendix 2 - Victoria South Prospect Historic Drill Intercepts Table 2: Victoria South Prospect Historic Drill Intercepts >=5GM (0.25g/t Au cut-off with maximum internal dilution of 3m) Hole ID from to Au (ppm) Interval GM KGC10 12 29 1.53 17 26.1 KGC11 41 54 2.25 13 29.3 KGC12 22 28 41.27 6 247.6 Including 245.50 1 245.5 KGC14 36 51 1.68 15 25.2 KGC15 14 28 1.05 14 14.7 KGC15 57 70 1.37 13 17.8 KGC16 12 26 0.50 14 7.0 KGC17 16 27 2.37 11 26.1 KGC20 1 12 1.51 11 16.7 KGC20 14 26 0.84 12 10.0 KGC21 8 16 0.64 8 5.1 KGC21 27 34 0.74 7 5.2 KGC21 39 52 1.33 13 17.3 KGC25 34 42 1.92 8 15.4 LVD084 20.4 26.3 4.51 5.9 26.6 LVD085 85.5 90.5 1.53 5 7.6 LVD085 94.1 100.85 1.38 6.75 9.3 12 Appendix 3 – JORC Code, 2012 Edition – Table 1 Section 1 Sampling Techniques and Data (Criteria listed in the preceding section also apply to this section) CRITERIA JORC Code Explanation Commentary SAMPLING TECHNIQUES • Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. • In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information. • Two datasets are included: (1) 1995 RAB/RC drilling at Victoria South (KGC/KGR holes), and (2) earlier diamond drilling (LV-84, LV-85). Diamond core from LV-84 and LV-85 was sampled over mineralised intervals and assayed for Au and Ag, with averages reported over defined intervals. Gold assays >1 g/t are reported as averages of AAS and check fire assays. • Diamond holes LV-84, LV-85 were reported as such in 1983 and subsequently renamed to LVD084 and LVD085. DRILLING TECHNIQUES • Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). • KGC/KGR drilling: RAB and RC methods. LV-84 and LV-85: diamond drilling (DDH) completed to test mineralisation along the London–Victoria Fault. LV-84 drilled to ~142 m and LV-85 to ~106.65 m. DRILL SAMPLE RECOVERY • Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. • Diamond drilling (LV-84/85) recoveries were recorded in the geological logs and were at or close to 100%. • KGC/HGR RC and RAB holes the recovery percentages are not stated. 13 CRITERIA JORC Code Explanation Commentary LOGGING • Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged. • LV-84 and LV-85 (diamond drilling): Diamond core was logged in detail for lithology, alteration, structure and mineralisation. Logging identified strongly foliated and altered volcanic rocks, quartz veining, and sulphide assemblages including pyrite, arsenopyrite, galena and sphalerite. Mineralisation was observed within narrow zones associated with shearing and veining within the London–Victoria Fault corridor. • KGC/KGR (RAB and RC drilling): Drillholes were geologically logged for lithology, weathering, alteration and mineralisation based on drill chips. Logging focused on identification of oxidised and fresh zones, quartz veining, sulphide content and alteration styles associated with gold mineralisation. While logging procedures are not described in detail in the historical reports, appendices and drill summaries indicate systematic geological logging sufficient to support interpretation of mineralised zones SUB-SAMPLING TECHNIQUES AND SAMPLE PREPARATION • If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality, and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled. • Diamond core was sampled over defined intervals corresponding to mineralisation zones. Assays were conducted using AAS and fire assay techniques, with check assays. Sample preparation methods are not fully described but consistent with industry practice at the time. • KGC RC holes were samples every 1m downhole. • KGR RAB holes were composited to 4m and samples with elevated gold were subsampled to 1m. QUALITY OF ASSAY DATA AND LABORATORY TESTS • The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. • Gold assays include AAS and check fire assays. For LV-84/85, higher-grade assays (>1 g/t Au) were verified using both methods. No modern QA/QC (standards/blanks/duplicates) reported, but check assays support reasonable confidence in results. • QAQC results reported would be considered above industry standard for the time. 14 CRITERIA JORC Code Explanation Commentary VERIFICATION OF SAMPLING AND ASSAYING • The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data. • A number of the Sipa RC holes were subject to a rigorous check assaying upto 8 times at the original lab and an independent lab, specifically interval 22m-23m in KGC12 reported as 245.5g/t Au was analysed 8 times with each integration reporting a similar result. LOCATION OF DATA POINTS • Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control. • Drillholes LV-84 and LV-85 are located on the London–Victoria Grid, tied to sections such as 10900N and 9700N. • KGC/KGR holes were reported in AMG66 Zone 55 and subsequently converted with an industry standard GIS software and reported in GDA94 Zone 55. • No downhole surveys were recorded for any of the drillholes. DATA SPACING AND DISTRIBUTION • Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied. • LV-84 and LV-85 were drilled to test specific structural targets along the London–Victoria Fault. Drilling was targeted rather than grid-based, focusing on mineralised zones defined by surface geochemistry. • KCG RC holes were drilled on a tight 20m x 20m grid perpendicular to the mineralised shear zone. • KGR RAB holes were drilled on 10m centres on east-west lines 100m apart perpendicular to the mineralised shear zone identified from London-Victoria and magnetic data. ORIENTATION OF DATA IN RELATION TO GEOLOGICAL STRUCTURE • Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. • All drilling was oriented to intersect perpendicular to the known mineralised shear zone. SAMPLE SECURITY • The measures taken to ensure sample security. • Not reported in the historical documents reviewed. AUDITS OR REVIEWS • The results of any audits or reviews of sampling techniques and data. • No audits, reviews or external checks of the historical soil datasets were reported. 15 Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section) CRITERIA JORC Code explanation Commentary MINERAL TENEMENT AND LAND TENURE STATUS • Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. • The London-Victoria Gold Project is located on EL7242 situated 5km south-west of Parkes in Central-West NSW. • EL9178 is the subject of a recent complementary acquisition from Alkane Resources Ltd for 100% scrip (ALK) to ADD of exploration tenure adjacent to the Parkes Gold-Copper Project (see ASX Announcement 17 February 2026). • EL7242, EL8830, EL8831 and EL9711 are subject to a JV agreement between Adavale and the tenements’ vendor, Agricultural Equity Investments Pty Ltd (“AEI”). Adavale owns 72.5% of the tenements and is the operator of the JV with the remaining 27.5% and a 2.5% net smelter royalty exists via the purchase agreement in 2025 held by AEI. EXPLORATION DONE BY OTHER PARTIES • Acknowledgment and appraisal of exploration by other parties. • Records for mining at and around London-Victoria Project stem back to 1874 with the discovery of alluvial leads interpreted to be sourced from the eroded hard-rock deposit. Alluvial leads were quickly traced back to the hard-rock source when artisanal mining took place at this time. • BHP Gold and subsequently Hargraves Resources mined the current pit between 1988- 1996 which closed primarily due to low gold prices in the middle-late 1990s. Gold production comprised 145,000 ounces @ 1.5g/t Au which was mined and processed onsite up until 1996. • Specific to the Victoria South Drilling; source files are open file and can be search on the NSW Government DIGS public archive, files reviewed and presented are as follows ̶ R00001136 Mineral Management and Securities Pty Ltd ̶ R00002431 Sipa Exploration NL / Michelago Resources NL GEOLOGY • Deposit type, geological setting, and style of mineralisation. • The London-Victoria Gold mine is the most significant mineralisation recognised within EL7242. The area was originally mined as a series of separate underground workings located along a north-south trend on a sheared volcanic/sediment contact, known as the London-Victoria Fault. The Fault has a more competent andesite on the hanging wall, with rheologically contrasting sediments and tuffs on the footwall. • Pits/workings on this trend existed prior to the recent open pit mining, and from south to north were; Victoria mine, Shaw’s open Cut, Gerbacs’ Open Cut and The London Mine and workings near the Majors shaft. The most recent open cut mining of the workings (1988-1995) produced a single elongate main pit covering the Victoria, Shaw’s and London workings with a small separate pit at the northern end on the Majors workings. • The gold mineralisation has been interpreted as both a narrow mineralised shear/alteration zone in andesitic volcanics immediately adjacent to the steeply east dipping London-Victoria Fault contact, and as a more diffuse fracture zone east of this structure. Mineralisation dissipates to the north through the Majors pit as a series of three narrow shears within the volcanics. Overall gold mineralisation is structurally controlled, with quartz veining and sericite, silica, chlorite, pyrite a