Adyton Announces Appointment of New Chief Financial Officer
Adyton Announces Appointment of New Chief
Financial Officer
Port Moresby, Papua New Guinea--(Newsfile Corp. - March 27, 2025) -
Adyton Resources
Corporation (TSXV: ADY)
("
Adyton
" or the "
Company
") is pleased to announce that Chirag Patel
has joined the management team as Chief Financial Officer and Corporate Secretary effective
immediately.
Mr. Patel is a Chartered Professional Accountant with extensive experience in financial management,
tax reporting, and corporate strategy for various public and multinational firms, including multiple years'
experience specializing in the public mining sector. Mr. Patel holds a degree from Simon Fraser
University.
The appointment follows the departure of Mr. Stephen Kelly as the Company's CFO and Corporate
Secretary effective immediately. Adyton would like to thank Mr. Kelly for his contributions made to the
Company and wishes him well with his current and future endeavors.
ON BEHALF OF THE BOARD OF DIRECTORS
"Tim Crossley"
Tim Crossley, Chief Executive Officer
E-mail:
Phone: +61 7 3854 2389
Phone: +1 778 549 6768
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.
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 to expand its identified gold Inferred and Indicated Mineral
Resources and expand on its recent significant copper drill intercepts on the 100% owned Feni Island
project. The Company's mineral exploration projects are located on the Pacific Ring of Fire on easy to
access island locations which hosts several globally significant copper and gold deposits including the
Lihir gold mine and Panguna copper/gold mine on Bougainville Island, both neighboring projects to the
Company's Feni Island project.
Adyton has a total Mineral Resource Estimate inventory within its PNG portfolio of projects comprising
indicated resources of 173,000 ounces gold and inferred resources of 2,000,000 ounces gold.
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.
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 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.sedarplus.ca
. Mineral resources are not mineral reserves and have
not
demonstrated economic viability.
The Fergusson Island Project currently has a mineral resource prepared in accordance with NI 43-101
dated October 14, 2021 which outlined an indicated mineral resource of 4.0 million tonnes at an average
grade of 1.33 g/t Au for contained gold of 173,000 ounces and an inferred mineral resource of 16.3
million tonnes at an average grade of 1.02 g/t Au for contained gold of 540,000 ounces. See the
technical report entitled "NI 43-101 Technical Report on the Fergusson Gold Property, Milne Bay
Province, Papua New Guinea" 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 the Company's profile on
SEDAR+ at
www.sedarplus.ca.
Mineral resources are not mineral reserves and have not demonstrated economic
viability.
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
.
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Qualified Person
The scientific and technical information contained in this press release has been prepared, reviewed,
and approved by Dr Chris Wilson BSc (Hons), PhD, FAusIMM (CP), FSEG, FGS, the Chief Geologist
and a Director of Adyton, who is a "Qualified Person" as defined by National Instrument 43-101 -
Standards of Disclosure for Mineral Projects.
Forward-Looking statements
This press release includes "forward-looking statements", including forecasts, estimates, expectations,
and objectives for future operations that are subject to several assumptions, risks, and uncertainties,
many of which are beyond the control of Adyton. Forward-Looking statements and information can
generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect",
"intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. Forward-Looking
statements in this news release include plans pertaining to the drill program,
the intention to prepare
additional technical studies, the timing of the drill program, uses of the recent drone survey data, the
timing of updating key findings, the preparation of resource estimates, and the deeper exploration of
high-grade gold and copper feeder systems . The forward-looking information contained herein is
provided for the purpose of assisting readers in understanding management's current expectations and
plans relating to the future. Readers are cautioned that such information may not be appropriate for other
purposes.
Forward-Looking information are based on management of the parties' reasonable assumptions,
estimates, expectations, analyses, and opinions, which are based on such management's experience
and perception of trends, current conditions and expected developments, the receipt of any necessary
permits, licenses and regulatory approvals in connection with the future development of the projects in a
timely manner; the availability of financing on suitable terms for the development; construction and
continued operation of the Fergusson Island Project and the Feni Island Project; the ability to effectively
complete the drilling program; and Adyton's ability to comply with all applicable regulations and laws,
including environmental, health and safety laws.
Investors are cautioned that forward-looking statements are not based on historical facts but instead
reflect Adyton's management's expectations, estimates or projections concerning future results or events
based on the opinions, assumptions and estimates of managements considered reasonable at the date
the statements are made. Although Adyton believes that the expectations reflected in such forward-
looking statements are reasonable, such information involves risks and uncertainties, and under reliance
should not be placed on such information, as unknown or unpredictable factors could have material
adverse effects on future results, performance or achievements expressed or implied by Adyton. Among
the key risk factors that could cause actual results to differ materially from those projected in the forward-
looking statements are the following: impacts arising from the global disruption, changes in general
macroeconomic conditions; reliance on key personnel; reliance on Zenex Drilling; changes in securities
markets; changes in the price of gold or certain other commodities; change in national and local
government, legislation, taxation, controls, regulations and political or economic developments; risks and
hazards associated with the business of mineral exploration, development and mining (including
environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and
flooding); discrepancies between actual and estimated metallurgical recoveries; inability to obtain
adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose
restrictions on mining; employee relations; relationships with and claims by local communities and
indigenous populations; availability of and changes in the costs associated with mining inputs and
labour; the speculative nature of mineral exploration and development (including the risks of obtaining
necessary licenses, permits and approvals from government authorities); and title to properties.
Investors are cautioned that any such statements are not guarantees of future performance and that
actual results or developments may differ materially from those projected in the forward-looking
statements. Such forward-looking information represents management's best judgment based on
information currently available. No forward-looking statement can be guaranteed, and actual future
results may vary materially. Readers are cautioned not to place undue reliance on forward-looking
statements or information. Adyton Resources Corporation undertakes no obligation to update forward-
looking information except as required by applicable law.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/246132