ADAVALE RESOURCES LIMITED — Capital/Financing Update 2017

Aug 6, 2017

A.B.N . 96 008 719 015

**ASX

ANNOUNCEMENT**

7 August 2017

**Funding

Facility Secured**

Adavale Resources Limited (ASX: ADD) is pleased to advise that the Company has entered into a Standby Subscription Agreement with Addchance Holdings Limited.

The facility has a limited of $1.0m with drawdowns under the facility satisfied by the issue of fully paid ordinary shares in the Company.

The shares are to be issued at 80% of the 5-­‐day VWAP prior to the date of issue of the shares.

The term of the facility is five years from the date of the agreement.

The first drawdown under this facility was made on Friday 4 August 2017.

**For

and on behalf of Adavale Resources Limited**

Leanne Ralph Company Secretary

Adavale Resources Limited C/- Boardworx Australia Pty Ltd, Level 12, 225 George, Sydney NSW 2000 Postal address: GPO Box 3720, Sydney NSW 2001 Telephone: (02) 9690 9600 Website: www.adavaleresources.com.au