ADAVALE RESOURCES LIMITED — Board/Management Information 2021

Aug 4, 2021

5 August 2021

Accomplished Resource Sector Leader Appointed as General Manager in Tanzania

Adavale Resources (ASX: ADD) is pleased to announce the appointment of Gerald Mturi as General Manager of Adavale Resources (TZ) Limited effective 1 September 2021.

The momentum of Adavale’s exploration in Tanzania and associated in Country activities, to unlock the potential of its assets, is increasing exponentially. Particularly given the elevated pXRF readings up to 0.86% Ni and 4.84%Cu detected within a package of sulphide veins extending over 195m on our first drill hole being validation of Adavale’s tenement acquisition and target generation process over the past 10 months. (See ASX announcement dated 26 July 2021)

Gerald is a qualified accountant, having commenced his career in 1996 with global energy company Total. He’s held the positions of Senior Mine Accountant and Country Manager for Resolute Mining Limited in Tanzania and more recently has been the Executive Secretary of the Tanzanian Chamber of Mineral and Energy.

Adavale Chairman Grant Pierce commented: “Gerald’s appointment has been timed to fill a key role due to our in-country expansion. His career background within the exploration and mining sector, coupled with his professional network, intimate knowledge of Tanzania’s tax and mining legislation and proven tenement management expertise will add immediate and significant value to the Company. The Company is proud to be appointing a Tanzanian citizen to its most senior in country role and it is testament to our commitment to embracing the Tanzanian Local Content legislation. On behalf of the Adavale Board, I warmly welcome Gerald to the team.”

This announcement has been authorised for release by The Board of Adavale Resources Limited.

For further information please contact investor@adavaleresources.com or visit www.adavaleresources.com

1	TwitterLinkedIn

ASX ANNOUNCEMENT - 5 AUGUST 2021

About Adavale

Adavale Resources Limited (ASX:ADD) is a nickel sulphide exploration company that holds 100% of the Kabanga Jirani Nickel Project a portfolio of 7 highly prospective granted licences, covering over 1,145km[2] surrounding and proximal to the world class Kabanga Nickel Deposit (58Mt @ 2.62% Ni) and located along the Karagwe-Ankolean belt in Tanzania. Adavale’s licences were selected based on their strong geochemical and geophysical signatures from previous exploration undertaken by BHP Billiton.

Adavale also holds three exploration licences within part of the highly prospective sedimentary uranium province within the northern part of the Lake Frome Embayment.

==> picture [223 x 334] intentionally omitted <==

Forward looking statements

This document 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 document 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 forwardlooking 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 different 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 nickel, 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.

2