Adyton Announces Grant of Stock Options and RSUs
Adyton Resources Corporation
Level 14, 167 Eagle Street Brisbane Qld
PO Box 5807 Brisbane Qld 4000
Phone +61 (7) 3854 2389
Email [email protected]
TSXV: ADY | adytonresources.com
NEWS RELEASE
November 11, 2024
TSX Venture Exchange: ADY For immediate release
OTCQB: ADYRF
FSE: 701GR
Adyton Announces Grant of Stock Options and RSUs
Port Moresby, PNG – November 11, 2024 – Adyton Resources Corporation (TSX Venture: ADY)
(“Adyton” or the “ Company”) announces the Company has granted a total of 7,250,000 stock
options and 1,100,000 restricted share units (each an “ RSU”) to certain officers, directors and
employees of the Company.
The stock options have been granted under the Company’s Amended and Restated Stock Option Plan.
Each option entitles the holder to acquire one common share at an exercise price of $0.20 for a three
year period expiring on November 8, 2027, subject to vesting requirements that the options only vest
on the date on which the holder has been an officer, director or employee of the Company for 12
months. Any common shares acquired on exercise of the options will be subject to contractual
resale restrictions for a period of 12 months.
The RSUs have been granted under the Company’s Amended and Restated Non -Option Omnibus
Incentive Plan (the “Omnibus Plan”). Each RSU entitles the holder to a payment in the form of one
common share or its c ash equivalent in accordance with the provisions of the Omnibus Plan,
subject to vesting requirements that the RSUs only vest on the date on which the holder has been
an officer, director or employee of the Company for 12 months. The RSUs are also subject to
performance criteria such that they will only vest following the date on which the 30 day VWAP
of the common shares on the TSX Venture Exchange is at least C$0.18 . Any common shares
acquired on vesting of the RSUs will be subject to contractual resale restrictions for a period of 12
months.
Tim Crossley, Chief Executive Officer
For further information please contact:
Tim Crossley, Chief Executive Officer
E-
mail: t
Phone: +61 7 3854 2389
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 ex pand 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 eas y 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 (MA IG), 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 Error! Hyperlink reference not valid. 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 Error! Hyperlink reference not valid. www.sedarplus.ca. Mineral resources are not mineral
reserves and have not demonstrated economic viability.
Adyton is also quoted on the OTC under the code ADYRF and on the Frankfurt Stock Exchange under the code
701:GR.
For more information about Adyton and its projects, visit www.adytonresources.com
Qualified Person
The scientific and technical information contained in this press release has been prepared, reviewed, and approved by Dr Chri s
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 for additional drill testing, the intention to prepare additional technical studies, the
timing of additional drill results, and the preparation of resource estimates. 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, and other factors that
management believes are relevant and reasonable in the circumstances, but whic h may prove to be incorrect. Such factors, among
other things, include: impacts arising from the global disruption caused by the Covid- 19 coronavirus outbreak, changes in general
macroeconomic conditions; 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 proper ties.
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.