Adavale Drilling Reveals Broad Gold Zones for London-Victoria Upgrade

Broad Gold Mineralisation Strengthens Resource Prospects

Adavale Resources (ASX:ADD) continues to build momentum at its London-Victoria Gold Mine with assay results from five new reverse circulation (RC) drillholes totaling 1,110 metres. Each hole intersected gold mineralisation over intervals at least 20 metres wide, delivering broad zones of consistent gold grades that underpin a potential upgrade to the mine’s Mineral Resource Estimate (MRE) expected in the third quarter of 2026.

Highlights include a 38-metre intercept grading 0.96 grams per tonne (g/t) gold from 142 metres in hole ALRC075, featuring higher-grade sub-intervals up to 1.73 g/t. Adjacent holes ALRC073 and ALRC074 returned similar broad zones with grades near 0.9 g/t Au and peak intervals exceeding 2 g/t, confirming continuity of the mineralised corridor beneath the existing 1.5-kilometre open pit.

Extending Continuity and Depth of Mineralisation

The new drilling extends coverage between previously reported intersections, providing additional control on the position, width, and grade of the gold system. Notably, hole ALRC071 intercepted 20 metres at 0.95 g/t Au approximately 20 metres below a prior 31-metre intercept at 1.29 g/t Au, reinforcing down-dip continuity immediately beneath the pit floor. These results collectively confirm a substantial gold-bearing zone with potential to add significant volume to the geological model supporting the upcoming resource update.

Managing Director David Ward emphasised the value of these results in linking broad intervals across adjacent drill sections and increasing depth: “The repeated intersections in ALRC073, ALRC074 and ALRC075 reinforce the scale and internal consistency of the mineralised corridor. Importantly, mineralisation intersected in many of these holes will be adding significant volume to the inventory for the upcoming Mineral Resource Estimate update due in the coming weeks.”

Program Progress and Development Activities

Assays from a further 10 drillholes are currently being processed, with results expected soon to further inform resource modelling. Alongside drilling, Adavale is advancing metallurgical testwork on core samples to assess gold recoveries, with preliminary tests indicating promising cyanide leach performance. Early-stage scoping studies are underway to evaluate development pathways, supported by high-resolution airborne geophysical surveys aimed at refining structural interpretations and improving drill targeting.

The London-Victoria deposit sits within Adavale’s Parkes Project, a belt-scale gold and copper exploration portfolio covering approximately 610 square kilometres in New South Wales’ Lachlan Fold Belt. This Tier-1 jurisdiction hosts world-class operations such as Cadia Ridgeway and Northparkes, providing a strong geological and strategic context for Adavale’s exploration and development ambitions.

Future Exploration and Resource Growth Potential

Beyond London-Victoria, Adavale is progressing regional greenfields exploration with geophysical and geochemical surveys targeting new gold-copper prospects, including the Calarie Gold Mine where follow-up drilling is planned. The company’s systematic approach aims to expand and upgrade existing mineralisation while pursuing new discoveries along the highly prospective Parkes Thrust corridor.

While the current assay results are encouraging, the ultimate impact on the resource and project economics will depend on the pending drill results and subsequent technical studies. The company confirms no material changes to previous resource assumptions and continues to build a detailed structural and geological model to underpin future resource upgrades and development decisions.