ADAVALE RESOURCES LIMITED — Capital/Financing Update 2016

Feb 21, 2016

A.B.N . 96 008 719 015

**ASX

ANNOUNCEMENT**

22

February 2016

**Disclosure

Notice Under Section 708A(5)(e) of the Corporations Act 2001 (Cth)**

Adavale Resources Limited ( Adavale ) ( Company ) gives this noted under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act ).

On 17 February 2016, Adavale issued 3,571,428 fully paid ordinary shares ( Shares ) to a nominee of Gurney Capital Pty Ltd ( Gurney ) pursuant to a A$40,000.00 drawdown under the Standby Facility Agreement between the Company and Gurney.

Adavale advises that:

• (a) the Shares were offered for issue without disclosure to investors under Part 6D.2 of the Corporations Act and without a Product Disclosure Statement for them being prepared;

• (b) this notice is being given under section 708A(5)(e) of the Corporations Act;

• (c) as at the date of this notice the Company has complied with:

  • (i) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

  • (ii) section 674 of the Corporations Act as it applies to the Company; and

• (d) as at the date of this notice, there is no excluded information of the type referred to in subsections 708A(7) and 708A(8) of the Corporations Act.

**For

and on behalf of Adavale Resources Limited**

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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