ADAVALE RESOURCES LIMITED — Director's Dealing 2020

May 19, 2020

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ASX Release 20 May 2020

RECTIFICATION OF ASX LISTING RULE 10.11

Adavale Resources Limited ( ASX:ADD ) advises the prior announcement regarding the breach of ASX Listing Rule 10.11 has been rectified on the 15[th] of May 2020. The placement of 12,000,000 ordinary shares from the announcement on the 13[th] of March 2020 whereby two directors directly and indirectly participated in, via subscription of 1,250,000 have been disposed of in accordance with ASX compliance guidelines.

The Directors change in interests Appendix 3Y will accompany this announcement. Any future participation in placements or offerings will be done in accordance with ASX Listing Rules via shareholder approval.

Adavale wishes to advise that the administrative error has not resulted in profits for the two directors and has occurred due to an oversight. A review of its administrative policy of the ASX Listing Rules is currently being undertaken.

This announcement has been authorised for release by the Company Secretary.

For further information, please contact:

Stuart Cameron Company Secretary Ph: +61 404 267 365

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