Adyton successfully completes Gameta Wardens Hearing
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
December 13, 2022
TSX Venture Exchange: ADY For immediate release
OTCQB: ADYRF
FSE: 701GR
Adyton successfully completes Gameta Wardens Hearing
Port Moresby, PNG – December 13, 2022 – Adyton Resources Corporation (TSX Venture: ADY) is
pleased to report that it has successfully completed a Wardens Hearing for the renewal of
Exploration License EL 2546. The Hearing, which is a mandatory process step in the renewal for
all exploration licenses in PNG, was conducted by senior Mineral Resources Authority (MRA)
Mining Warden Mr Vele Gavu on Friday December 9, 2022 at Gameta village on Fergusson Island
with all principal landowners present.
EL 2546 hosts the Gameta prospect, which together with the nearby Wapolu prospect, is a key
element to Adyton’s current commercialization assessment of the Fergusson Island Projects. The
Fergusson Island Projects are both shallow mineralized from surface ore bodies and have the
stated gold resources tabled below.
Project
Indicated Inferred
Au
(g/t)
Tonnes
(million)
Au
(koz)
Au
(g/t)
Tonnes
(million)
Au
(koz)
Fergusson Island - Gameta Project 1.33 4.0 173 1.01 10.5 340
Fergusson Island – Wapolu Project - - - 1.06 5.8 200
Fergusson Island total 1.33 4.0 173 1.02 16.3 540
Gameta and Wapolu resources at 0.5g/t gold cut-off 1
Managing Director Tim Crossley said, “in PNG the Wardens Hearing is an important, mandatory part
of the regulatory process for renewing exploration licences and provides an opportunity for the
impacted stak eholders to provide input into the renewal process . The Hearing confirmed strong
support by land holders and other stakeholders for Adyton to continue its exploration activities. It was
also a good opportunity for our staff to travel to the Island and meet the principal landowners and
other key stakeholders. I am very encouraged by the support the company has to continue with its
activities.”
1The Fergusson Island Project currently has a mineral resource prepared in accordance with NI 43 -101 dated October 14, 2021. See the NI 43- 101
technical report entitled “NI 43 -101 Technical Report on the Fergusson Gold Property, Milne Bay Province, Papua New Guinea” (the “Fergusson Island
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 “qualifi ed person” as defined in NI 43 -101, available under Adyton’s profile on
SEDAR at www.sedar.com
Mining Warden Mr Vele Gavu addresses Gamete Village Chief and local Landowners
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 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’s current
gold resource inventory is more than 2M Oz.
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.
Qualified Person
T
he scientific and technical information contained in this press release has been prepared, reviewed, and approved by Rod Watt, BSc
Hons (Geo), FAusIMM, Chief Geologist of Adyton, who is a "Qualified Person" as defined by National Instrument 43- 101
- S
tandards
of Disclosure for Mineral Projects ("NI 43-1
01"). Mr. Watt consents to the inclusion of his name in this release. Mr Watt verified the
data disclosed in this press release in accordance with industry standard best practices, including sampling, analytical, and test data
underlying the information or opinions contained herein.”
TSXV: ADY | OTC: ADYRF
One of the
world’s best
mining
addresses
5
FRIEDA RIVER
10Mt Cu,
15Moz Au
GRASBERG
26.5Mt Cu,
80Moz Au
OK TEDI
4.5Mt Cu,
15Moz Au
PORGERA
16Moz Au
KAINANTU
5.2Moz Au
WAFI-GOLPU
8.6Mt Cu,
26Moz Au
TOLUKUMA
0.7Moz Au
SIMBERI
5Moz Au
GOLD RIDGE
1.4Moz Au
MISIMA
5.5Moz Au
PANGUNA
6.4Mt Cu,
25Moz Au
RAMBUTYO
Au
OREDI
CREEK
Au
Major crustal structure
Major gold or copper deposit
Adyton priority projects
Adyton potential upside
Under-explored in a prolific discovery region
LEGEND
PNG
LIHIR
56Moz Au
AUSTRALIA
FENI ISLAND
FERGUSSON
ISLAND
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 identif ied 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 a resource upgrade in Q3 2021. 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 which 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 se curities 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.