ARDIDEN LTD — Capital/Financing Update 2020

Jul 22, 2020

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23 July 2020

ARDIDEN LIMITED WEBCAST

Gold explorer Ardiden Limited (‘Ardiden’ or ‘the Company’) (ASX: ADV) is pleased to provide an opportunity for shareholders and investors to view a webcast by its Board of Directors, who presented an update on the capital raising previously announced on 15 July 2020 to Resources Roadhouse.

To listen to the webcast, simply copy and paste the following details into your web browser:

youtube.com/watch?v=DObxX2qHDAg&feature=youtu.be

as listed below.

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Within the interview, the Directors refer to JORC Resources, Exploration Targets and non-JORC historical estimates, therefore please refer to the appropriate cautionary statements in relation to these subject

*-The potential quantity and grades stated for the Exploration Target is conceptual in nature and there has been insufficient exploration to define Mineral Resources across the exploration target area. It is uncertain if further exploration of these targets will produce results that permit additional Mineral Resources to be estimated.

*- The historical resource estimates are not reported in accordance with the JORC Code and a competent person has not done sufficient work to classify the historical estimates as mineral resources in accordance with the JORC Code. It is uncertain that following evaluation and further exploration work that the historical estimates will be able to be reported as mineral resources in accordance with the JORC Code.

ASX Code: ADV

ARDIDEN LIMITED Level 1, 34 Colin St West Perth WA 6005 Tel: +61 (0) 8 9322 7600

www.ardiden.com.au

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This information is authorised for ASX release by the Board of Directors.

ARDIDEN LIMITED (ASX: ADV)

For further information:

Investors : Media and Investor Relations: Rob Longley Karen Oswald MD & CEO Marko Communications Tel: +61 8 9322 7600 Tel +61 (0) 423 602 353 info@ardiden.com.au karen@markocommunications.com.au

Competent Person’s Statement

Exploration Results, Pickle Lake Gold Project - The information in this report that relates to Exploration Results on the Pickle Lake Prospects is based on information compiled by Mr Robin Longley, a Member of the Australian Institute of Geoscientists. Mr Longley is a full-time employee of Ardiden Limited. Mr Longley has sufficient experience which is relevant to the style of mineralisation and type of deposit and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Longley consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.

Kasagiminnis Deposit Gold Resources - The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Mr Robin Longley, a Member of the Australian Institute of Geoscientists, and Mrs Christine Standing, a Member of the Australian Institute of Geoscientists and a Member of the Australasian Institute of Mining and Metallurgy. Mr Longley is a full-time employee of Ardiden Limited. Mrs Standing is employed by Optiro Pty Ltd and is a consultant to Ardiden. Mr Longley and Mrs Standing have sufficient experience which is relevant to the style of mineralisation and type of deposit and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Longley and Mrs Standing consent to the inclusion in this report of the matters based on this information in the form and context in which it appears.

The information in this report that relates to non-JORC Historical Estimates is based on is based on, and fairly represents, information and supporting documentation prepared by Mr Robin Longley, a Member of the Australian Institute of Geoscientists. The information in this announcement provided under ASX Listing Rules 5.12.2 to 5.12.7 is an accurate representation of the available data and studies for the Pickle Lake Gold Project. Mr Longley is a fulltime employee of Ardiden Limited. Mr Longley consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.

More information is available from the Company’s website: www.ardiden.com.au

ASX Code: ADV

ARDIDEN LIMITED Level 1, 34 Colin St West Perth WA 6005 Tel: +61 (0) 8 9322 7600

www.ardiden.com.au