Company Adavale Resources Limited

Adavale Resources Limited is engaged in the business of mineral exploration for Nickel in Tanzania and Uranium in South Australia. The Company holds the Kabanga Jirani Nickel Project, a portfolio of 12 highly prospective granted licenses along the Karagwe-Ankolean belt in Tanzania. The nine southernmost licenses are proximal to the world-class Kabanga Nickel Deposit. It holds 100% of all licenses except two licenses known as the Luhuma-Farm-in are held 65% adding a further 99 square kilometers (km2) bringing the portfolio to 1,315 sq km. It also holds five granted exploration licences prospective for their sedimentary uranium potential within the northern part of the highly prospective Northern outwash from the Flinders Ranges in South Australia and four exploration licence applications east of Ceduna on the Eyre Peninsula. This will increase the Company’s uranium tenement holdings to 5,160 km2. The Company also has a 100% interest in EL6553 from Kilonova Metals.