ADELONG GOLD LIMITED — Interim / Quarterly Report 2020

Oct 30, 2019

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ASX Announcement 31[st] October 2019

Activities Report for the Quarter Ending 30[th] September 2019

 Cosmo Newbery Gold Project continues to progress

1. COSMO NEWBERRY GOLD PROJECT (3D RESOURCES 100% - EXCEPT E38/2274 75%)

Cosmo Newbery is one of the few remaining underexplored greenstone belts in Western Australia and is located in an area of major gold deposits. 3D Resources Ltd holds the major part of this greenstone belt under granted exploration licenses and expects to have a new access agreement later this year in order to explore this region. The report by Southern Geoscience Consultants has highlighted some significant structural targets that have the potential to host gold mineralisation and noted the strong geological similarities between the Cosmo Newbery area and that of the geological setting of the Gruyere deposit.

During the Quarter the company was pleased to see progress made on the native title agreements which have held up the company from negotiating exploration access to this promising greenstone belt. The company has already completed significant planning and reviews of available data and data generated by its own reconnaissance programs in anticipation of expected future ground access, and looks forward to what it sees as a high quality exploration opportunity.

At the end of September 2019, the courts approved an agreement between the native title parties to form a new Prescribed Body Corporate(”PBC”) to manage the interests of the native title groups following 2 years of mediation and discussion after the Federal Court determination that the two groups should merge their interests. It had been the absence of such a PBC that had prevented the Company from signing a new agreement to access this Aboriginal Reserve and commence exploration, so this is a major step forward towards restarting exploration on the ground.

After the end of the quarter, the Company received the first draft of an access agreement with the Waturta native title claimants in respect of EL38/2627.

The Company considers that these developments are a positive move towards restarting exploration in this highly prospective and largely unexplored greenstone belt.

2. HALLS CREEK JOINT VENTURE (3D RESOURCES 80%)

During the quarter the Company reviewed potential project acquisitions in the Halls Creek area which might complement its Mt. Angelo project and assist commercialize it. Discussions were also held in respect to the possible sale of the project by vending it into a proposed IPO but discussions were inconclusive and are continuing.

The company sees this project as a valuable opportunity but one which requires a complimentary corporate or project strategy to unlock value.

3. CORPORATE

The Company has been very active in reviewing potential project acquisitions and opportunities and has assessed several very large copper projects in Africa together with several gold opportunities also in Africa. Several of those opportunities are under discussion and the main delay has been the need to conduct rigorous due diligence considering recent experiences in that part of the world. Many such opportunities whilst offering promising minerology often have legacy debts needing resolution. The company continues to seek projects complimenting its existing assets and in particular to allow progress whilst the resolution of the Cosmo Newberry native title issues continues.

4. TENEMENTS

4. TENEMENTS
Project and Location	Tenements Held	Tenements	Beneficial	Notes
	At	Acquired or	Interest at End
	Commencement	Disposed of	of Quarter
	of Quarter	During Quarter
Halls Creek Joint Venture,	M80/247,	No Change,	80%,	Retained resources in Mt Angelo North
East Kimberly WA				Deposit
Cosmo Newbery, Laverton WA	E38/2274,	No Change,	75%	Awaiting new native title group to merge
	E38/2627,	No Change,	100%	with Yilka and form a new body corporate in
	E38/2774	No Change,	100%	order to finalise new agreement for full
	E38/2851	No Change	100%	long term access.

Information in this “ASX Announcement” relating to Exploration Results and geological data has been compiled by Mr. Peter Mitchell who is a Member of the Australian Institute of Mining and Metallurgy and is Managing Director of 3D Resources Ltd. He has sufficient experience that is relevant to the types of deposits being explored for and qualifies as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (JORC Code 2012 Edition). Peter Mitchell has consented to the release of the announcement.

For Further Information, Contact

Peter Mitchell (Managing Director) Andrew Draffin (Company Secretary)

Telephone: +61 4 0088 0309 Telephone: +61 3 8611 5333