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ADD – Adavale Resources Ltd

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1 = STRONG BUY | 2 = BUY | 3 = HOLD | 4 = UNDERPERFORM | 5 = SELL

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Company Profile

Adavale Resources Limited is an Australia-based nickel sulphide exploration company. The Company is in the business of mineral exploration for nickel in Tanzania and Uranium in South Australia. The Company’s projects include Kabanga Jirani Nickel Project and Lake Surprise Uranium Project. It holds 100% of the Kabanga Jirani Nickel Project, a portfolio of seven granted licenses covering approximately 1,145 square kilometers along the Karagwe-Ankolean belt in Tanzania. The four southernmost licenses are proximal to the Kabanga Nickel Deposit. It has farmed-in to two more licenses contiguous to its four southernmost licenses, adding approximately 99 square kilometers to the portfolio (Luhuma Nickel Project). The Lake Surprise Project area is located in South Australia, approximately 550 kilometers (km) north of Adelaide, and 70 km east of Marree. The Company holds three tenements, such as EL5892, EL5893, and EL6598, with a total area of approximately 396 square kilometers.

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