ADAVALE RESOURCES LIMITED — Capital/Financing Update 2018

Feb 7, 2018

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ASX ANNOUNCEMENT

8 February 2018

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 8 February 2018, Adavale issued 3,846,153 fully paid ordinary shares ( Shares ) to a nominee of Addchance Holdings Ltd ( Addchance ) pursuant to a A$40,000.00 drawdown under the Standby Facility Agreement between the Company and loan agreement approved by members at the Annual General Meeting held on 30 November 2017.

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)

• (c)

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

  • 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

Julian Rockett Company Secretary