ARDIDEN LTD — Director's Dealing 2019

Dec 3, 2019

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4 December 2019

ARDIDEN DIRECTORS AND MANAGEMENT BUY SHARES ON MARKET

Ardiden Limited (ASX: ADV) (‘’Ardiden” or “the Company”) wishes to advise that key members of its Board and Management have purchased Ardiden shares on market in a show of confidence in the Company. The Company’s Board and management now own over 27.5 million shares, or 1.6% of shares in the Company.

Please refer enclosed director interest notices.

Ardiden is preparing for a winter drill programme at its Pickle Lake Gold Project in Ontario, Canada, where it aims to build on the high grade 110,000 oz gold maiden Inferred Gold Resource it announced for the Kasagimminis deposit in September 2019.

It is also reviewing historic data from the Dorothy-Dobie gold prospect at Pickle Lake with the aim of extracting potential additional gold resources from previous owners work that can be reported in accordance with the JORC (2012) Code, as well as identifying high-grade drill targets for ground testing.

CEO Rob Longley said: “We are excited about our progress and opportunities at the Pickle Lake Gold Camp since we acquired 100% of the Project in July 2019. The current corporate activity and investment in the Ontario gold sector, in particular with Evolution Mining (ASX: EVN) at the nearby Red Lake mining centre, reinforces that we are well-positioned to take advantage of this growing Canadian gold interest”.

“With a busy start planned for 2020, we are looking forward to delivering on our goals over the coming 12 months and continuing to build value for our shareholders.”

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Figure 1 – Geology of Ardiden's 100% owned Pickle Lake Gold Tenements

ASX Code: ADV Shares on Issue: 1,691M

ARDIDEN LIMITED Level 1, 34 Colin St West Perth WA 6005 Tel: +61 (0) 8 9380 8334

www.ardiden.com.au

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Ardiden currently has its Exploration Manager and Project Geologist on Site at Pickle Lake negotiating with the First Nations Group, Mishkeegogamang, and organising logistics for the planned winter drilling programme. Upcoming newsflow will also include review of Dorothy-Dobie Gold Prospect historical data and continuing site visits and relationship-building with local stakeholders and First Nation groups.

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Figure 2- Pickle Lake to Red Lake: Gold Projects and Mining Centres

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Figure 3 Thickening Lake Ice in preparation for Drill Pads

For further information:

Investors : Rob Longley Chief Executive Officer Tel: +61 8 9380 8334 info@ardiden.com.au

Media and Investor Relations: Karen Oswald NWR Communications Tel +61 (0) 423 602 353 karen@nwrcommunications.com.au

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ASX Code: ADV Shares on Issue: 1,691M

ARDIDEN LIMITED Level 1, 34 Colin St West Perth WA 6005 Tel: +61 (0) 8 9380 8334

www.ardiden.com.au

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Forward Looking Statement

This announcement may contain some references to forecasts, estimates, assumptions and other forward-looking statements. Although the company believes that its expectations, estimates and forecast outcomes are based on reasonable assumptions, it can give no assurance that they will be achieved. They may be affected by a variety of variables and changes in underlying assumptions that are subject to risk factors associated with the nature of the business, which could cause actual results to differ materially from those expressed herein. All references to dollars ($) and cents in this presentation are to Australian currency, unless otherwise stated. Investors should make and rely upon their own enquires and assessments before deciding to acquire or deal in the Company’s securities.

Competent Person’s Statement

The information in this report that relates to Exploration Results on the South Limb and West Pickle 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 Mineral Resources at the Kasagiminnis Gold Deposit 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.

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Pickle Lake 3[rd] December, freezing over.

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ASX Code: ADV Shares on Issue: 1,691M

ARDIDEN LIMITED Level 1, 34 Colin St West Perth WA 6005 Tel: +61 (0) 8 9380 8334

www.ardiden.com.au

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity Ardiden Limited ABN 82 110 884 252

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Neil Hackett
Date of last notice	16 September 2019

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Indirect Interest
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Corporate Starboard Pty Ltd, a Company Mr Hackett has a relevant interest in.
Date of change	3 December 2019
No. of securities held prior to change	Indirect: Corporate Starboard Pty Ltd 1. 23,720,101 Ordinary Shares 2. 2,500,000 Tranche 1 Unlisted 2.3 cent Conditional Performance Options expiring 30 November 2021. 3. 2,500,000 Tranche 2 Unlisted 3 cent Conditional Performance Options expiring 30 November 2021.
Class	1. Ordinary fully paid shares

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Number acquired	1. 1,000,000
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$4,000.00
No. of securities held after change	Indirect: Corporate Starboard Pty Ltd 1. 24,720,101 Ordinary Shares 2. 2,500,000 Tranche 1 Unlisted 2.3 cent Conditional Performance Options expiring 30 November 2021. 3. 2,500,000 Tranche 2 Unlisted 3 cent Conditional Performance Options expiring 30 November 2021.
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestmentplan, participation in buy-back	Purchase of ordinary fully paid shares on market

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest
Name of registered holder (if issued securities)
Date of change
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

Part 3 –[+] Closed Period

Were the interest in the securities No or contracts detailed above trading during a[+] closed period where prior written clearance was required? If so, was prior written clearance N/A provided to allow the trade to proceed during this period? If prior written clearance was N/A provided, on what date was this provided?

Date of Notice: 4 December 2019

• See chapter 19 for defined terms.

Appendix 3Y Page 3

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity Ardiden Limited ABN 82 110 884 252

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Pauline Gately
Date of last notice	10 December 2018

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct Interest
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	N/A
Date of change	4 December 2019
No. of securities held prior to change	Direct: Pauline Gately 1. 2,500,000 Tranche 1 Unlisted 2.3 cent Conditional Performance Options expiring 30 November 2021. 2. 2,500,000 Tranche 2 Unlisted 3 cent Conditional Performance Options expiring 30 November 2021.
Class	Ordinary fully paid shares

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Number acquired	500,000
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$2,000
No. of securities held after change	Direct: Pauline Gately 1. 500,000 Ordinary Shares 2. 2,500,000 Tranche 1 Unlisted 2.3 cent Conditional Performance Options expiring 30 November 2021. 3. 2,500,000 Tranche 2 Unlisted 3 cent Conditional Performance Options expiring 30 November 2021.
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestmentplan, participation in buy-back	Purchase of ordinary fully paid shares on market.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

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Detail of contract N/A
Nature of interest
Name of registered holder
(if issued securities)
Date of change
No. and class of securities to
which interest related prior to
change
Note: Details are only required for a contract in relation
to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration
Note: If consideration is non-cash, provide details and an
estimated valuation
Interest after change
----- End of picture text -----

Part 3 –[+] Closed Period

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Were the interest in the securities No or contracts detailed above trading during a[+] closed period where prior written clearance was required? If so, was prior written clearance N/A provided to allow the trade to proceed during this period? If prior written clearance was N/A provided, on what date was this provided?

Date of Notice: 4 December 2019

• See chapter 19 for defined terms.

Appendix 3Y Page 3

11/3/2002