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ADAVALE RESOURCES LIMITED Share Issue/Capital Change 2011

Feb 3, 2011

64300_rns_2011-02-03_68a17a6f-ec71-4f03-a604-24621be83914.pdf

Share Issue/Capital Change

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==> picture [153 x 74] intentionally omitted <==

----- Start of picture text ----- A.B.N . 91 008 719 015----- End of picture text -----

4 February 2011

Company Announcements Platform Australian Securities Exchange 20 Bridge Street Sydney NSW 2000

Dear Sir/Madam

Exercise of Options

Adavale Resources Limited (ASX: ADD) wishes to advise that 54 options have been exercised and the company has issued 54 shares. The issued share capital of the company after the issue of the shares will be 316,990,019.

The company makes an application to the ASX for their quotation, see the attached Appendix 3B.

Yours faithfully,

Adavale Resources Limited

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Sylvie Dimarco Company Secretary

Address: U8-9 Forrest Street Cottesloe, Perth, Western Australia, Australia 6001 l Postal Address: PO Box 968, Cottesloe, Perth, Western Australia, Australia 6911. Telephone: (08) 9467 2049 l Facsimile: (08) 9286 2900 l Email: [email protected] l Website: www.adavaleresources.com.au