ADAVALE RESOURCES LIMITED — Capital/Financing Update 2020

Mar 10, 2020

Market Announcement

==> picture [33 x 50] intentionally omitted <==

11 March 2020

==> picture [451 x 5] intentionally omitted <==

Adavale Resources Limited (ASX: ADD) – Trading Halt

Description

The securities of Adavale Resources Limited (‘ADD’) will be placed in trading halt at the request of ADD, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Friday, 13 March 2020 or when the announcement is released to the market.

Issued by

Lin Kang

Adviser, Listings Compliance (Sydney)

Market Announcement 1/1 ASX Customer Service Centre 131 279 | asx.com.au

11 March 2020 ASX Limited

==> picture [153 x 71] intentionally omitted <==

11 March 2020

Ms Lin Kang Adviser, Listings Compliance (Sydney) ASX Compliance Pty Ltd 20 Bridge Street Sydney, NSW 2000

TRADING HALT REQUEST

Dear Ms. Kang

Adavale Resources Limited (“Adavale” or “the Company”) requests a trading halt be granted by the ASX for its securities immediately.

For the purpose of Listing Rule 17.1, the Company provides the following information:

1. The trading halt is requested to assist the Company in managing its continuous disclosure obligations as the Company is seeking to raise capital under its LR 7.1 and LR 7.1A respective issue capacity.

2. The Company expects the trading halt will last until it makes an announcement to ASX concerning a capital raise, which it expects to make before the commencement of trading on Friday, 13 March 2020; and

3. The Company is not aware of any reason why the trading halt should not be granted.

Yours sincerely

Jurgen Behrens Company Secretary

For queries about this request please contact:

Jurgen Behrens, Company Secretary Ph: (02) 8397 9809 contact@adavaleresources.com