ADAVALE RESOURCES LIMITED — Capital/Financing Update 2021

Sep 30, 2021

Market Announcement

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1 October 2021

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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 Tuesday, 5 October 2021 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

1 October 2021 ASX Limited

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1 October 2021

Lin Kang, ASX Adviser ASX Compliance Pty Ltd 20 Bridge Street Sydney NSW 2000

Via email only: tradinghaltssydney@asx.com.au

Dear Ms Kang

Adavale Resources Ltd (ASX: ADD) (the Company) request an immediate halt to the trading of the Company’s ordinary shares quoted on the Australian Securities Exchange (ASX) in accordance with Listing Rule 17.1.

The trading halt is requested pending the release of an announcement by the Company to the market relating to a capital raise (purpose).

In accordance with ASX Listing Rule 17.1, the Company provides the following information in relation to the request:

1. The trading halt is requested pending the release of an announcement by the Company to the market relating to a capital raising via an institutional placement and an entitlement offer ( purpose ).

2. The Company requests that the trading halt remains in place until the earlier of commencement of normal trading on Tuesday, 5 October 2021, or when the announcement regarding the stated purpose is released to the market.

3. The Company expects to make the announcement to the market before the commencement of normal trading on Tuesday, 5 October 2021.

4. The Company is not aware of any reason why the trading halt should not be granted or of any further information necessary to inform the market about the trading halt.

Please contact me if you require any further information concerning this matter.

Yours faithfully

Julian Rockett

Company Secretary & In-house Counsel

e. julian@adavaleresources.com

This Trading Halt Request is approved by the Board of Adavale Resources Limited.