Announces Completion of Qualifying Transaction

ADYTON RESOURCES CORPORATION

ANNOUNCES COMPLETION OF QUALIFYING TRANSACTION

NOT FOR DISSEMINATION IN THE UNITED STATES

OR THROUGH US NEWSWIRE SERVICES

TSX VENTURE EXCHANGE: ADY FOR IMMEDIATE RELEASE

Vancouver, British Columbia – February 18, 2021 – Adyton Resources Corporation (the “Company” or

“Adyton”) (TSX Venture: ADY), formerly XIB I Capital Corp., is pleased to announce it has completed its

previously announced transaction wit h Mayur Resources Limited (“Mayur”) to acquire Mayur’s copper -

gold exploration tenements in Papua New Guinea (the “Transaction”). Under the Transaction, the

Company:

 consolidated its 13,100,000 previously issued and outstanding common shares (“Common Shares”)

on a 2.62-for-1 basis into 5,000,000 Common Shares issued and outstanding (the “Consolidation”)

and changed its name to “Adyton Resources Corporation”;

 acquired all of the shares of Mayur’s former subsidiary, MR Exploration PNG Pte Ltd. (“MRE”)

from Mayur and its other shareholders in exchange for 71,666,666 post -Consolidation Common

Shares, after MRE first acquired all of the shares of Ballygowan Limited (“Ballygowan”) and

Pacific Arc Aurum (Niugini) Limited (“Pacific Arc”) from their shareholders in return for shares

of MRE;

 completed a three -cornered amalgamation between Adyton Resources Finance Company Ltd.

(“Adyton Financeco”), a special purpose subsidiary of Mayur, 1269592 B.C. Ltd. a special purpose

entity established by certain financing parti es (“Pre -Seed Financeco”), and a special purpose

subsidiary of the Company, under which the Company issued a total of 48,092,220 post -

Consolidation Common Shares to the shareholders of Adyton Financeco and Pre -Seed Financeco

in exchange for the same number of common shares of Adyton Financeco and Pre-Seed Financeco,

which had been issued on a one -for-one basis on conversion of subscription receipts issued by

Adyton Financeco and Pre -Seed Financeco under private placement financings which raised

aggregate gross proceeds of approximately $10.75 million for Adyton; and

 reorganized its Board of Directors to consist of Frank Terranova, Rod Watt, Tim Crossley, Sinton

Spence, Frederic Leigh Jr. and Nick Tintor, and its management to consist of Frank Terranova -

Chairman, President and Chief Executive Officer, Stephen Kelly - Chief Financial Officer and

Corporate Secretary, and Rod Watt, Chief Geologist.

Adyton is also pleased to announce that following the completion of the Transaction, Peter du Plessis and

Jason Kovac have been appointed as advisors to the Company’s Board of Directors.

Mr. du Plessis is currently an operations executive with K92 Mining Limit ed and has over 46 years’

experience in South Africa, Australia and Papua New Guinea. He has extensive experience in both open pit

and underground mines and holds a PNG Metalliferous Managers Certificate with more than 18 years’

experience operating in Papua New Guinea. He has held senior management roles at both Tolukuma Gold

Mine, Simberi Gold Mine and since 2015 has been employed by K92 Mining as the General Manager at

Kainantu Gold Mine.

Mr. Kovac is currently the President and Chief Executive of Millennial Precious Metals and has extensive

experience in all facets of mineral exploration, mine development, investor relations and finance. He

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previously worked at Trelawney Mining and Exploration, which was sold in 2012 to IAMGOLD for $608

million, after which he continued working at various IAMGOLD properties. In 2015, he joined Barkerville

Gold Mines where he held various roles including Chief Mine Geologist and VP Corporate Development

prior to its acquisition by Osisko Gold Royalties in 2019 for $338 m illion. He is also currently Director

Corporate Development at Talisker Exploration, VP of Strategic Development at Sable Resources and is

on the Board of Directors of GK Resources.

President and Chief Executive Officer of Adyton, Frank Terranova stated, “With our highly experienced

management, directors and advisors, independent financing, TSX Venture Exchange listing, and a portfolio

of highly prospective mineral exploration projects, we believe Adyton provides a great pure-play exposure

to quality assets in an exceptional mining jurisdiction.”

“Completing this transaction was a significant effort involving parties and advisors in Papua New Guinea,

Singapore and Canada, and I want to thank our financing syndicate led by Eight Capital and our legal

advisors DLA Piper (Canada), especially Vaughn MacLellan, and Ashurst,” continued Mr. Terranova.

“Now that we have completed this transaction, we are going to get to work and hit the ground running with

our Phase 1 exploration programs. We have a highly knowledg eable team with great experience in Papua

New Guinea and we look forward to executing on our ambitious plans.”

The Transaction constituted the Company’s “Qualifying Transaction” pursuant to Policy 2.4 of the TSX

Venture Exchange (the “Exchange“) and the Company will carry on the business of exploring the copper-

gold tenements held by its wholly -owned subsidiaries MRE, Ballygowan and Pacific Arc. For additional

information about the Transaction and the Company, please see the Company’s filing statement date d

February 12, 2021 and press releases dated September 14, 2020, November 12, 2020, November 27, 2020,

December 29, 2020 and February 12, 2021, all which are available under the Company’s profile on SEDAR

at www.sedar.com.

The Exchange issued its conditional acceptance of the Transaction on February 11, 2021. The Common

Shares are expected to resume trading on the Exchange under the ticker symbol “ADY”, subject to

satisfaction of the Exchange’s final conditions for list ing and the Exchange issuing its final exchange

bulletin confirming the completion of the Transaction (the “Final Exchange Bulletin“). The Company will

announce the listing date upon receipt of the Final Exchange Bulletin from the Exchange.

Early Warning Disclosure Pursuant to National Instrument 62‐103

In connection with the Transaction, Mayur will file an early warning report pursuant to the early warning

requirements of applicable Canadian securities laws in respect of its ownership of Common Shares acquired

under the Transaction. Mayur’s address is 300 Adelaide Street, Level 7, Brisbane, Queensland, Australia.

Copies of the early warning report will be available on SEDAR and will also be able to be obtained by

contacting Mayur’s Managing Director, Paul Mulder, at [email protected] or +61 (0)7 3157 4400.

Prior to the completion of the Transaction, Mayur had no ownership of, nor did it exercise control or

direction over, any voting or equity securities of the Company. In connection with the Transaction, Mayur

acquired ownership of 53,333,333 Common Shares representing approximately 42.8% of the issued and

outstanding Common Shares on a non-diluted basis and 38.5% on a fully diluted basis in accordance with

the terms of the Transaction.

Mayur acquired the Common Shares as part of the Transaction. Mayur may purchase or sell securities of

Adyton in the future on the open market or in private transactions, depending on market and economic

conditions and other factors material to the investment decisions of Mayur. Mayur is a public company

listed on the Australian Securities Exchange. Subject to the expiry of escrow and lock-up provisions relating

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to the Common Shares owned by it as discussed in the filing statement of the Company, Mayur intends to

eventually distribute all of the Common Shares received by it under the Transaction to its shareholders.

Investors are cautioned that, except as disclosed in the filing statement of the Company prepared in

connection with the Transaction, any information released or received with respect to the Transaction

may not be accurate or complete and should not be relied upon. Trading in the securities of the Company

should be considered highly speculative.

The TSX Venture Exchange has in no way passed upon the merits of the Transaction and has neither

approved nor disapproved the contents of this press release.

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.

For further information please contact:

Adyton Resources Corporation

Frank Terranova, President and Chief Executive Officer

E-mail: [email protected]

Phone: +61 7 3157 4400

Notice on Forward-Looking Information

Information set forth in this news release contains forward -looking statements within the meaning o f

applicable Canadian securities laws. Forward -looking statements involve significant risk, uncertainties

and assumptions. Many factors could cause actual results, performance or achievements to differ materially

from the results discussed or implied in the forward-looking statements. Such factors include, among other

things: risks and uncertainties relating to the receipt of final Exchange approval and the resumption of

trading in the Company's Common Shares. These factors should be considered carefully and readers should

not place undue reliance on the forward -looking statements. Although the forward -looking statements

contained in this news release are based upon what management believes to be reasonable assumptions,

the Company cannot assure readers that actual results will be consistent with these forward -looking

statements. These forward -looking statements are made as of the date of this news release, and the

Company assumes no obligation to update or revise them to reflect new events or circumstances, except as

required by law.