ADAVALE RESOURCES LIMITED — Capital/Financing Update 2013

Apr 9, 2013

A.B.N . 96 008 719 015

**ASX

ANNOUNCEMENT**

9 April 2013

_**TRANCHE

3 CALL OPTIONS – NEGOTIATION TO EXTEND EXPIRY DATE**_

Adavale Resources Limited (ASX: ADD) advises that as outlined in the Notice of General Meeting dated 8 November 2012, Mr Haryono Eddyarto has entered into Irrevocable Share Sale Agreements with a number of vendor parties to acquire shares in the Company from these parties.

One tranche of this share acquisition was via a call option over 15,000,000 shares to be exercised on or before 31 March 2013 (Tranche 3 Call Option).

The Company advises that negotiations are underway between Mr Eddyarto and the vendor parties to extend the exercise date of the call option on the 15,000,000 shares.

In addition, as advised to the market on 14 December 2012 14,618,044 Tranche 2 shares were to be transferred from Arthur Phillip Nominees Pty Ltd to Mr Eddyarto on 31 March 2013. The parties are negotiating to extend this transfer date.

A further update to the market on the progress of these negotiations will be advised in due course.

**For

and on behalf of Adavale Resources Limited**

Leanne Ralph Company Secretary

Adavale Resources Limited C/- Boardworx Australia Pty Ltd, Level 5, 151 Castlereagh Street, Sydney NSW 2000 Postal address: GPO Box 3720, Sydney NSW 2001 Telephone: (02) 8263 0515 Website: www.adavaleresources.com.au