Mining Forum Americas 2026 Presentation
Released
Released
Announcement PDF
Belt-Scale Gold Project in
a Tier 1 Jurisdiction
Zero to 383koz
in 20 Months
• Updated Upgraded MRE
• Near Term Production
• Exploration Upside
Sep 2026
ASX:ADD
2
ASX:ADD
Important Notice & Disclaimer
This presentation has been prepared by Adavale Resources Ltd (ASX:ADD).This presentation contains background information about ADD current at the date of this presentation. The presentation is in summary form, has not been independently verified and
does not purport be all inclusive or complete nor does it contain all the information that a prospective investor may require in evaluating a possible investment in ADD or its assets.
Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this presentation. All securities transactions
involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments. Recipients of this presentation who decide to invest in ADD do so at their own risk.
This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of securities in any jurisdiction. This presentation is
not a prospectus and does not contain all of the information which would be required to be disclosed in a prospectus. This presentation may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction.
Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such jurisdiction. This presentation does not constitute investment advice and has been prepared without
taking into account the recipient’s investment objectives, financial circumstances or particular needs and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons.
Recipients should seek their own professional, legal, tax, business and/or financial advice when deciding if an investment is appropriate.
To the fullest extent permitted by law, ADD and its related bodies corporate, its directors, officers, employees and representatives (including its agents and advisers), disclaim all liability, take no responsibility for any part of this presentation, or for any errors in
or omissions from this presentation arising out of negligence or otherwise and do not make any representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of any information, statements, opinions, estimates,
forecasts, conclusions or other representations contained in this presentation.
This presentation contains forward looking statements concerning Adavale. Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward-looking statements as a result
of a variety of risks, uncertainties and other factors. Forward-looking statements are inherently subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company’s actual results to differ
materially from those expressed or implied in any forward-looking information provided by the Company, or on behalf of the Company. Such factors include, among other things, risks relating to additional funding requirements, metal prices, exploration,
development and operating risks, competition, production risks, regulatory restrictions, including environmental regulation and liability and potential title disputes. Forward looking statements in this presentation are based on Adavale’s beliefs, opinions and
estimates of Adavale as of the dates the forward-looking statements are made, and no obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments. Although
management believes that the assumptions made by the Company and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Forward-looking information
involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially from any anticipated future results, performance or achievements expressed or implied by
such forward-looking information. Such factors include, among others, the actual market price of commodities, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the
Company's publicly filed documents. Readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. No
representation, warranty or undertaking, express or implied, is given or made by the Company that the occurrence of the events expressed or implied in any forward- looking statements in this presentation will actually occur.
Competent Person Statement
The information in this presentation 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 25years of experience in metallic minerals mining, exploration and development andhas sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken 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.
The information in this report that relates to Mineral Resources at the London-Victoria project area in NSW is based on information compiled by Mark Berry, a Competent Person who is a Member of the Australian Institute of Geoscientists. Mark is employed
by Derisk Geomining Consultants Pty Ltd, is independent of Adavale Resources Limited and Agricultural Equity Investments Pty Ltd, and has no conflict of interest in accepting Competent Person responsibility for the relevant content in this report. He has
sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves. Mark consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. Information on the Mineral Resources presented on the London-
Victoria project area in NSW is contained in the ASX announcement dated 5 May 2025 and subsequently updated on 22 September 2026. 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 their context with JORC Table 1 in which the Competent Person’s findings are presented have not materially changed from the original announcement.
Information on the Mineral Resources presented on the Calarie’s gold deposit is contained in the ASX announcement dated 1 June 2026. 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 their context with JORC Table 1 in which the Competent Person’s findings are presented have not materially changed from the original announcement.
Refer to the respective ASX announcements included in the presentation. 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.
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ASX:ADD
Leonard Math
CFO & Company Sec.
Chartered Accountant with 15+ years
experience as CFO/ED/Co-Sec for
several ASX-listed resources
companies.
Nic Matich
Non-Exec. Director
Experienced ASX Resources
CEO, ED & MD with 17+ years
experience in the resources
sector.
Corporate Overview
Share Price (18/09/2026) $0.045
Shares On Issue 395.8m
Market Capitalisation $17.8m
Cash 30 Jun ‘26 ~$2m
Options on Issue 250.7m
Performance Rights 43.2m
Top 20 Shareholders (Beneficial Ownership) 62%
*ADDOD: 81,684,512 options with $0.035 Exercise, 30 Jun 2028 expiry. ADDO: 94,064,017, $0.10
Exercise, 31 Dec 2027 Expiry, ADDAAI: 15,000,000, $0.12 Exercise, 15 Oct 2029 Expiry, ADDAAJ:
15,000,000, $0.24 Exercise, 15 Oct 2029 Expiry. ADDAF: 22,500,000, $0.10 Exercise, 31 Dec 2029
Expiry, ADDAG: 22,500,000, $0.20 Exercise, 31 Dec 2029 Expiry
Allan Ritchie
Executive Chairman & CEO
Experienced ASX/HKEx Energy
and Resources Chair, MD & ED
over 15 years and a 30+ year
Investment Banking career.
David Ward
Managing Director
Accomplished Geologist and mining
executive with 30+ years’ experience
across exploration, project
development through to mining.
GLENEDEN NOMINEES P/L 20.0%
STRATEGIC INVESTOR GROUP 8.4%
DIRECTORS & OFFICERS 6.4%
CALARIE (OMX/GRL/Mon/PH) 5.5%
AGRICULTURAL EQUITY INVESTMENTS P/L 4.7%
SYK CONSOLIDATED 2.5%
WILMOS 1.8%
WESTLIME 1.5%
ALKANE (ASX:ALK) 1.4%
Other Shareholders 41.2%
Volume2
Price1
1 Green Line = Share Price Close (Daily). Black Bar = Share Price High & Low (Daily).
2 Golden Bar = Trading Volume (Daily).
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0.0 M
5.0 M
10.0 M
15.0 M
20.0 M
25.0 M
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug
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ASX:ADD
The Lachlan Fold Belt, including Macquarie Arc Volcanics with associated Au & Cu mines and deposits nearby
Tier 1 Jurisdiction – 160Moz AuEq Resource Endowment
Calarie ML 51koz Au acquired from ASX:OMX,
ASX:GRL et al, being 3rd All-Scrip acquisition
in 14 mths giving a dominant footprint along
the Belt-Scale Parkes Gold Project. Prior
Acquisitions were from ASX:ALK and AEI
same vendor as Spur project for (ASX:WTM).
A total area of 610km² over 12 licences with
a contiguous 70km belt-scale strike incl. the
Calarie Mining Licence & the historic
London-Victoria Mine with 383koz Au
In the Lachlan Transverse Zone and adjacent
to Northparkes (ASX:EVN)
and along the zone from Cadia Mines
(NYSE:NEM).
Macquarie Arc Volcanics with Ordovician Age
Rocks, ideal location for uncovering a tier-1
discovery, particularly in Lachlan
Transverse Zone and no vacancies nearby.
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ASX:ADD
.
Up to A$14m earn-in deal in the
Junee-Narromine belt, including farm-
in with ASX:MAG for Myall project.
80% Purchase of Northparkes for
A$720m. Triple Flag pay extra
A$120m for Au Ag stream from E44
Up to A$15m deal with Newmont to
A$6m deal with S2 Resources
US Pentagon Office of Strategic
Capital US$400m loan
Up to A$145m earn-in deal with
Inflection Resources & up to A$110m
earn-in deal with Kincora.
Up to A$75m option/JV deals with
Gold & Copper.
Purchase of Cargo/Spur project,
share price move of 50x following re-
rating on drilling success.
Purchase of MAC Copper and the
CSA mine for A$1.53bn,
Surrounded by Giants, Lachlan Fold Belt
Purchase of Newcrest (flagship Cadia)
for A$26.2billion
✓Belt-scale ✓JORC Resource Upgrade ✓ Brownfield & Greenfield Assets
✓610km2 70km contiguous strike adjacent to EVN, FMG & ALK
✓Multiple untested high-conviction drill targets ✓Swift, systematic execution
✓ London Victoria Drill-out complete ✓ Pathway to early production
Merger of Equals (total transaction
value of ~A$1.01bn).
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ASX:ADD
Parkes Project Belt Scale Consolidation
AEI Acquisition
24 Jan 2025
354km²
ADD Applications
10 Jun 2025 / 3 Nov 2025
380km²
ALK Acquisition
17 Feb 2026
441km²
OMX/GRL/Mon/PH Acquisition
21 May 2026
610km²
Market Cap - 24 Jan 2025
A$4.5M
Market Cap – 3 Nov 2025
$A10.0M
Market Cap – 17 Feb 2026
$A16.1M
Market Cap – 21 May 2026
A$16.1M
22 Sept 2026
London-Victoria
& Armstongs
332koz
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ASX:ADD
Snapshot
Resources
• 383koz Au
London-Victoria Resource
Upgrade from 18,000m of new
drilling
Tenement Holding
• 610km²
Parkes Thrust
Whole southern
strike
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ASX:ADD
332koz Au
JORC (2012) Indicated and Inferred Resource
(excluding Calarie 51koz Au)
London-Victoria Mine (Brownfield)
▪ Located 20km South of Northparkes Mine (ASX:EVN) and 50km South of Tomingley Mine
(ASX:ALK)
▪ Historic London-Victoria Gold Mine Produced c.155koz Au via open-pit mining at 1.5 g/t Au
along 1.5km of strike, with higher-grade lodes, up until 1998.
▪ London-Victoria Mine is a former BHP Gold open pit mine & processing centre.
▪ Development advantages include:
✓ Former BHP 550ktpa Crushing and grinding circuit currently in use.
✓ Environmental Approval exists for current open pit mining.
✓ Environmental Approval exists for 24/7 processing.
Refer ASX Announcement 22 September 2026 “From Zero to 383koz Gold in 20 Months"
Satellite view showing London Victoria Resources, US$4,200 pit shells
and processing plant
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ASX:ADD
London-Victoria Infrastructure
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ASX:ADD
London-Victoria
Phase 1 (Sep 25) was good, Phase 2 (Feb 26) even better
Refer ASX Announcement 9 February 2026 “London-Victoria Continues to Deliver"
28m @ 1.53g/t Au
Northern Pit Long Section & Phase 1 - ALRC001 drill result
Southern Pit Long Section & Phase 2 - ALRC019 drill result
25m @ 1.17g/t Au
10m @ 1.95g/t Au
11m @ 4.87g/t Au
13m @ 9.66g/t Au
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ASX:ADD
Drillout Completed Aug 26
19m @ 4.00g/t Au including 4m @ 15.0g/t Au
Refer ASX Announcement 28 August 2026 “Drillout Success Set to Drive Upgraded MRE & Scoping Study"
19m @ 4.0g/t Au
Incl 4m @ 15.0g/t Au
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ASX:ADD
London-Victoria Drillout
~18km (85 holes) of new drilling
Victoria
South
Historic Drilling Only – 115koz
1.5km or 0.93 miles
Gold g/t
200m
New 18,000m – 59,000ft of Drilling
Resource Now 281koz
2.4km or 1.5 miles
US$4,200/oz Au pit shell
200m
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ASX:ADD
MRE 22 Sept – Only reported within pit optimisation
Opportunity for future UG outside of MRE pit shell
Refer ASX Announcement 28 August 2026 “Drillout Success Set to Drive Upgraded MRE & Scoping Study"
21m @ 2.3g/t Au
Incl 10m @ 3.7g/t Au
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ASX:ADD
London-Victoria Near Mine Targets
Refer ASX Announcement 26 March 2026 “Accelerating Resource Growth at London-Victoria"
Refer ASX Announcement 7th April 2026 "Exciting Near Mine Targets at London-Victoria"
Soil Geochemistry
Drapers
11m @ 4.94g/t Au
Nibblers Hill
9m @ 4.90g/t Au
Waterhouse
4m @ 4.55g/t Au
Somers
8m @ 3.20g/t Au
4m @ 4.02g/t Au
7m @ 2.14g/t Au
Armstrongs
32m @ 0.93g/t Au
18m @ 1.29g/t Au
22m @ 1.05g/t Au
30m @ 0.77g/t Au
26m @ 0.87g/t Au
Victoria South
11m @ 2.37g/t Au
15m @ 1.68g/t Au
13m @ 1.37g/t Au
17m @ 1.53g/t Au
13m @ 2.25g/t Au
6m @ 41.3g/t Au
Near Mine Targets Labeled with Significant Drill Intercepts
(outside of the original Mining Licence)
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ASX:ADD
Victoria South Target
Extension of the Existing London-Victoria MRE
Refer ASX Announcement 26 March 2026 “Accelerating Resource Growth at London-Victoria"
Refer ASX Announcement 7th April 2026 "Exciting Near Mine Targets at London-Victoria"
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ASX:ADD
Calarie Mining Licence - Long Section (51koz MRE)
20km south of London-Victoria on Granted Mining License
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ASX:ADD
Ashes Acquisition of Adjacent Tenure
(EL9918) from Alkane (ASX:ALK)
High Tenor IP Chargeability Anomaly
Previously bound by Tenement Boundary
Refer ASX Announcement 23 February 2026 "Porphyry Target Identified from IP in Newly Acquired Tenure"
Refer ASX Announcement 26 February 2025 "High-Grade Gold, Copper and Silver Rock Chips at Ashes"
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ASX:ADD
Abundant Greenfield Prospects (Green)
▪ Northern Diorite Prospect (EL8831): Intersected 4m @ 0.21ppm Au and
1230ppm Cu hosted in diorite, potential porphyry copper-style
mineralisation.
▪ Central Prospect (EL8831): Magnetite-veined lithic tuff where historical
RAB hole, found up to 0.16 ppm Au, most likely of hydrothermal origin,
with the area having the potential to be the top of a porphyry copper-gold
system.
▪ Corner Prospect (EL8831): RAB drilling - 2m @ 1.73g/t Au, in a dacite
dyke; possible epithermal mineralisation style. Recent rock chips from
quartz veins include gold assays of 1.16g/t Au, 1.82g/t Au and 1.55g/t Au.
▪ Koh-I-Noor Mine Licence (EL9785): Host to historic Koh-I-Noor mine
which was mined to a depth of 304m yielding up to 43.8g/t Au.
▪ Parkvale & Parkvale South Prospects: anomalous rock chips up to
6.3g/t Au
▪ Large areas of residual soils = effective surface geochemistry
▪ Geophysics
▪ Drone and ground magnetic surveys
▪ Induced Polarisation (IP)
▪ Swift & Systematic Cost-Effective Exploration
Refer ASX Announcement 29 November 2024 "Transformational Gold and Copper Project Acquisition"
More Abundant Greenfield Prospects
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ASX:ADD
Investment Highlights
Parkes Project, Exploration Licences & Surrounding Tenements
TIMING
▪ Brownfield Assets: 383koz Au JORC , Early Production Potential.
• Former BHP 550ktpa crushing & grinding circuit currently in use.
• Approval exists for current open pit mining & 24/7 processing
▪ Greenfield Assets: High-conviction Targets, High-potential Discovery.
▪ Board: Highly Experienced, acquired ~6.4% stake,
100% Investor Aligned.
▪ Technical: World-class Expertise, Modern Exploration Techniques.
▪ Track Record: Swift, Systematic Execution across Portfolio.
▪ Catalysts: Resource Upgrade to 383koz after 85 hole drilling
campaign, Met. Work & Scoping Study commences., and
MORE drilling to come
▪ Funded: Strongly Supported, Liquid ASX-listed Vehicle.
▪ Valuation: Modest Market Cap & EV with significant upside.
TEAM
ASSETS
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ASX:ADD
Adavale Mineral Resources
Material
Type
Au
Indicated Inferred Total
cut-off
(g/t) Tonnes Au Au Tonnes Au Au Tonnes Au Au
(Mt) (g/t) (oz) (Mt) (g/t) (oz) (Mt) (g/t) (oz)
London-Victoria
Oxide 0.2 1.56 0.59 29,500 0.69 0.86 19,300 2.25 0.67 48,800
Fresh 0.25 4.13 0.73 96,700 3.36 1.08 117,200 7.49 0.89 213,900
Total Various 5.69 0.69 126,200 4.06 1.05 136,500 9.74 0.84 262,700
Victoria South
Oxide 0.2 0 0 0 0.67 0.77 16,600 0.67 0.77 16,600
Fresh 0.25 0 0 0 0.05 0.88 1,400 0.05 0.88 1,400
Total Various 0 0 0 0.72 0.78 18,000 0.72 0.78 18,000
Armstrongs
Oxide 0.2 0 0 0 2.12 0.76 51,800 2.12 0.76 51,800
COMBINED TOTAL
Oxide 0.2 1.56 0.59 29,500 3.48 0.78 87,700 5.04 0.72 117,100
Fresh 0.25 4.13 0.73 96,700 3.41 1.08 118,600 7.54 0.89 215,300
TOTAL Various 5.69 0.69 126,200 6.9 0.93 206,250 12.58 0.82 332,500
Deposit Tonnes Gold grade Contained gold
London-Victoria 9.74Mt 0.84g/t Au 262,700oz
Victoria South 0.72Mt 0.78g/t Au 18,000oz
Armstrongs 2.12Mt 0.76g/t Au 51,800oz
Combined subtotal 12.58Mt 0.82g/t Au 332,500oz
Calarie 0.87Mt 1.83g/t Au 50,800oz
Total Parkes inventory 13.45Mt 0.89g/t Au 383,300oz
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ASX:ADD
Allan Ritchie
Executive Chairman and Chief Executive Officer
David Ward
Managing Director
investor@adavaleresources.com
+61 2 9127 9852
Contact
Follow Us
@Adavale_ASXADD
www.adavaleresources.com
Adavale Resources Limited
ASX:ADD
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