ADY.V · 2021-10-13 12:00:00

Adyton intersects 0.8 g/t Au over 144.8m

Drill Results

1 See TSXV release:

from surface at Feni Island, 13 October 2021.

Adyton Resources Corporation

Level 14, 167 Eagle Street Brisbane Queensland 4000

PO Box 5807 Brisbane Queensland 4000 Australia

Phone +61 (7) 3854 2389

Email [email protected]

TSXV: ADY | adytonresources.com

December 1, 2021

TSX Venture Exchange: ADY For immediate release

OTCQB: ADYRF

FSE: 701GR

Adyton hits significant copper at Feni Island

6.4m @ 5.1% Cu (including 3.6m @ 6.9% Cu)

Brisbane, Australia – 01 December, 2021 – Adyton Resources Corporation’s (TSX Venture: ADY) has

reported significant copper assays from hole ADK004 at its 100% owned Feni Island Project (Feni) in Papua

New Guinea.

The Company’s maiden drilling program of five diamond holes (1,982m) at Feni was completed in September.

The initial objectives of the program were to expand the gold resource as well as test various induced

polarisation (IP) anomalies for the potential of a copper porphyry system.

Multi-element assays have now been returned with significant copper intersections being recorded from

hole ADK004 in two zones – a shallower disseminated zone of copper mineralization followed by a zone of

massive sulphide copper mineralization:

Disseminated Cu + Au:

 35.9m (70.7 to 106.6m) @ 0.3% Cu & 1.1g/t Au

Massive sulphide Cu + Au:

 6.4m (149.7 to 156.1m) @ 5.1% Cu & 1.6g/t Au

Incl 3.6m (151.5 to 155.1m) @ 6.9% Cu & 2.1g/t Au

Incl 0.7m (154.4 to 155.1m) @ 14.5% Cu & 2.4g/t Au

These results validate the company’s geological model that Feni Island has the potential to host zones of

significant copper mineralization within the highly mineralized Kabang structural corridor.

As previously reported, all five holes returned significant intersections of gold mineralization including:

 Hole ADK001 intersected gold from surface 144.80m (1.0 – 145.8m) @ 0.8 g/t Au, including 42.70m

(48.3 – 91.0m) @ 1.33 g/t Au; 28m (63.0 – 91.0m) @1.60 g/t Au and 5m (70.0 – 75.0m) @ 2.96 g/t Au

and a shallow copper intersection of 16m (7.0 – 23.0m) @ 0.3% Cu.

 Hole ADK003 intersected 84m (55.0 – 139.0m) @ 0.6 g/t Au , including 2m (55.0 – 57.0) @ 1.36 g/t

Au; 3m (61.0 – 64.0m) @ 1.16 g/t Au; 6m (93.0 – 99.0m) @ 0.96 g/t Au and 15m (124.0m – 139.0m)

@ 1.26 g/t Au.

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NEWS RELEASE

 Hole ADK004 drilled 500m north of holes ADK001 and ADK003 intersected 84.10m (72.0 – 156.1m)

@ 0.96 g/t Au, including 10m (74.0 – 84.0m) @ 1.41 g/t Au; 15.60m (91.0 – 106.6m) @ 1.20 g/t Au;

4.60m (151.5 – 156.1m) @ 2.00 g/t Au and 1m (335.0 – 336.0m) @ 5.24 g/t Au.

Adyton Resources President, Executive Chairman and CEO, Mr Frank Terranova, said the assay results

demonstrated Feni’s significant copper potential.

“The results confirm that Feni could contain zones of high-grade copper within the extensive gold

mineralization and this confirmation of massive suphide copper in the system justifies more work which is

currently being planned,” Mr Terranova said.

“The recent drilling program has highlighted the potential for a significant discovery to be made in the 1.5km

long Kabang structural corridor. The corridor is lightly drilled, and going north is covered by younger volcanic

cover, which has hindered previous exploration efforts – a focus of the next program will be exploring under

this younger cover.”

Located in a Tier 1 region along a mineral belt containing the world class Simberi, Lihir, and Panguna gold and

copper projects, Mr Terranova added that the model at Feni was for a “Lihir-style” epithermal gold overprint

on a deeper porphyry copper system.

Figure 1: Kabang drilling area – other prospects also shown

Drilling Summary

Hole ADK004 was drilled to test continuity of mineralization further to the north-east 500m from the first

three holes drilled in the program (ADK001 – 003) and as such represented a “step-out” to get a better

understanding of the mineralisation further along the Kabang structural zone (Figure 2). This area is covered

by 70m of younger cover (volcanics, epiclastics and tephra). Beneath the younger cover from 72m depth,

ADK004 intersected strong Au and Cu mineralisation within hydrothermal breccia. The breccias are phyllic

altered, silicified, with strong sulphide (pyrite, arsenopyrite and chalcopyrite) mineralisation as breccia fill,

stockworks and veining. Beneath the volcanic breccia the hole passed into syenite intrusive.

Figure 2: Kabang drilling area showing IP conductive channel, IP phase targets and location of the five

completed Adyton diamond drill holes. Note the prospective corridor is > 1.5kms long, lightly drilled, and

under younger volcanic cover at the northern end which has hindered previous exploration efforts. Hole

ADK004 is shown.

Figure 3: Location of ADK004 in relation to the other Adyton drill holes within the Kabang mineralized corridor,

a zone of >1.5kms long. Note going to the north (beyond ADK004 and 005) the surface gold mineralization

passes under younger volcanic cover – an area that hindered previous explorers and remains untested.

Hole ADK004 intersected 84.10m (72.0 – 156.1m) @ 0.97 g/t Au , including 10m (74.0 – 84.0m) @ 1.41 g/t

Au; 15.60m (91.0 – 106.6m) @ 1.40 g/t Au; 4.60m (151.5 – 156.1m) @ 2.03 g/t Au and 1m (335.0 – 336.0m)

@ 5.24 g/t Au.

The zones of copper (with associated gold) from ADK004 are reported as:

Disseminated Cu + Au Zone:

 35.9m (70.7 to 106.6m) @ 0.3% Cu & 1.1g/t Au

Massive sulphide Cu + Au Zone:

 6.4m (149.7 to 156.1m) @ 5.1% Cu & 1.6g/t Au

Incl 3.6m (151.5 to 155.1m) @ 6.9% Cu & 2.1g/t Au

Incl 0.7m (154.4 to 155.1m) @ 14.5% Cu & 2.4g/t Au

Significantly, from 149.7 to 156.1m down-hole a zone of massive sulphide mineralisation was drilled with a

significant gold intersection and visible chalcopyrite . This zone is exciting in the context of structurally

controlled higher grade zones that are going to be the focus of the next drilling program. The zone is marked

by sulphide flooding with pervasive pyrite, pyrrhotite, chalcopyrite, arsenopyrite and magnetite which make

up 30 - 40% of the interval. Below the massive sulphide-zone, the hole passed into phyllic altered syenite /

diorite porphyry to the end of hole at 394.6m.

Figure 4: Cross section along ADK004 showing copper (lhs) and gold (rhs) – disseminated copper is within the

volcanic breccia and the massive sulphide within the syenite intrusive. Plan view on the right showing the

orientation of the holes.

Figure 5: ADK004 – 155.1 – 156.1m showing massive sulphide mineralization in hydrothermal breccia

Geological Overview

The Feni Island Group lies at the southeast end of the 250 km long Tabar-Lihir-Tanga-Feni alkalic volcanic

island chain, which is largely Pliocene-Pleistocene in age. The chain lies 40 – 60 km off the east coast of New

Ireland, PNG.

Ambitle Island is the larger of the two islands comprising the Feni Island Group. It is dominated by Ambitle

volcano, which is a collapsed stratovolcano (2 – 8 million years old) built on a basement of early Tertiary

sediments. The crater rim is interpreted as a collapse-structure, of gravity-induced failure of the southwest

flanks of the Ambitle crater, as opposed to a large caldera structure. It is composed of alkalic mafic to

intermediate volcanics and high-level alkalic intrusives, such as monzonites and syenites.

The cone of Ambitle volcano is comprised mainly of vesicular lavas, pyroclastic and epiclastic rocks. The lavas

are intermediate in composition and strongly undersaturated, including phonolites, alkali basalts, basanite,

trachybasalt and trachyandesite.

The main style of mineralisation on Ambitle Island is low-sulphidation epithermal gold mineralisation

associated with quartz veining and sulphide mineralisation (e.g. pyrite, chalcopyrite, arsenopyrite). The gold

mineralisation is associated with the Matangkaka Intrusive Complex, which lies at the southern margin of the

Ambitle volcanic crater.

The focus of the initial drilling program at Kabang was to test both the shallow epithermal gold zones and

deeper porphyry copper potential. The program was focused in and around the Kabang Prospect to test

deeper extensions to previous drilling targeting the IP models that are interpreted to indicate a poorly tested

chargeable body at depth underneath the shallower epithermal Kabang mineralisation.

The gold mineralisation identified at Kabang is open in all directions with the potential for a deeper copper-

gold mineralised system below the gold mineralisation at Kabang and elsewhere on the tenement. There are

multiple prospective gold and copper-gold targets, with limited or no drill testing undertaken to date, that

demonstrate the potential to significantly grow the current mineral resources for the Feni Project.

Drill Program Overview

An initial five hole drill program was completed in September at Feni, totalling 1,962m, testing the highly

prospective Kabang mineralised corridor for continuity and extensions of the shallower (0-250m) Lihir-style

epithermal gold zone and deeper porphyry copper-gold target.

 Drill targets were based on an interpreted chargeable bodies at depth from remodelled 3D IP data

from historical geophysical surveys.

 The initial results from the first five holes are very encouraging, confirming the potential for higher

grade ore zones within a broader lower grade gold envelope.

 The short programs at Kabang and Matangkaka provide further impetus for the next drilling stage

which will be focussed on resource extensions and testing the depth potential along the more than 1.5

kms strike extent.

 The IP modelling is clearly picking out the strong “pyrite halo” around the porphyritic intrusive which is

encouraging as the gold appears to sit above and within this zone.

 The company considers that following the success of the short initial diamond drilling program, there is

a significant discovery to be made in the Kabang structural corridor with a focused drilling program

along the 1.5km long by 500m wide zone.

 There are a number of other prospects that also need following up, which will be further defined in the

next work program.

ON BEHALF OF THE BOARD OF ADYTON RESOURCES CORPORATION

Frank Terranova, Chairman, President and Chief Executive Officer

For further information please contact:

Frank Terranova, Chairman, President and Chief Executive Officer

E-mail: [email protected]

Phone: +61 7 3854 2389

ABOUT ADYTON RESOURCES CORPORATION

Adyton Resources Corporation is focused on the development of gold and copper resources in world class

mineral jurisdictions. It currently has a portfolio of highly prospective mineral exploration projects in Papua

New Guinea on which it is exploring for copper and gold. The Company’s mineral exploration projects are

located on the Pacific Ring of Fire which hosts several world class copper and gold deposits.

Adyton was formed by a reverse takeover transaction completed with XIB I Capital Corporation on February

17, 2021 and commenced trading on the TSX Venture Exchange under the symbol “ADY” on February 24,

2021.

Adyton is also quoted on the Frankfurt Stock Exchange under the code 701:GR.

For more information about Adyton and its projects, visit www.adytonresources.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the

policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press

release.

(1) Notes Regarding Inferred Mineral Resource Estimates

1. The Feni Island Project currently has a mineral resource prepared in accordance with NI 43-101 dated October 14, 2021,

which has outlined an initial inferred mineral resource of 60.4 million tonnes at an average grade of 0.75 g/t Au, for

contained gold of 1,460,000 ounces, assuming a cut-off grade of 0.5 g/t Au.

2. See the NI 43-101 technical report entitled “NI 43-101 Technical Report on the Feni Gold-Copper Property, New Ireland

Province, Papua New Guinea” (the “Feni Technical Report”) dated October 14, 2021 and prepared for Adyton Resources by

Mark Berry (MAIG), Simon Tear (MIGI PGeo), Matthew White (MAIG) and Andy Thomas (MAIG), each an independent

mining consultant and “qualified person” as defined in NI 43-101, available under Adyton’s profile on SEDAR at

www.sedar.com.

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