ON BEHALF OF THE BOARD OF Adyton Resources Corporation
Tim Crossley, Managing Director
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ABOUT Adyton Resources Corporation
Adyton Resources Corporation focuses on developing gold and copper resources in world-class mineral jurisdictions. The Company currently has a portfolio of highly prospective mineral exploration projects in Papua New Guinea, in which it is exploring to expand its identified gold-derived and indicated mineral resources and build on its recent significant copper drilling at the 100% owned Feni Island project. The Company’s mineral exploration projects are located on the Pacific Ring of Fire in easily accessible island locations that are home to several globally important copper and gold deposits, including the Lihir Gold Mine and the Panguna Copper/Gold Mine on Bougainville Island, both adjacent projects of the Company’s Feni Island Project.
Adyton has a total inventory of estimated mineral resources within its PNG portfolio of projects, consisting of indicated resources of 173,000 ounces of gold and inferred resources of 2,000,000 ounces of gold.
The Feni Island Project currently has a mineral resource established in accordance with NI 43-101 dated 14 October 2021, which outlines 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 at Adyton’s profile on SEDAR+ at www.sedarplus.ca. Mineral resources are not mineral reserves and that is true has not been shown to be economically viable.
The Fergusson Island Project currently has a mineral resource established in accordance with NI 43-101 dated October 14, 2021, which outlines 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 at AWARE+ op www.sedarplus.ca. Mineral resources are not mineral reserves and have not demonstrated economic viability.
Adyton is also present at the Frankfurt stock exchange under the code 701: GR.
Visit www.adytonresources.com for more information about Adyton and its projects
White (MAIG) and Andy Thomas (MAIG), each an independent mining consultant and ‘qualified person’ as defined in NI 43-101, available under the company profile on SEDAR+ at www.sedarplus.ca. Mineral resources are not mineral reserves and have not demonstrated economic viability.
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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 Bowden, PhD, GCMEE, FAusIMM(CP), FSEG, the Chief Operating Officer 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 contains “forward-looking statements,” including predictions, estimates, expectations and objectives for future operations that are subject to various assumptions, risks and uncertainties, many of which are beyond Adyton’s control. Forward-looking statements and information generally can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “continue,” “plan” or similar terminology. Forward-looking statements in this press release include plans regarding the drilling program, the intent to prepare additional technical studies, the timing of the drilling program, the use 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 supply systems. The forward-looking information contained herein is intended to help readers understand management’s current expectations and plans regarding the future. Readers are cautioned that such information may not be suitable for other purposes.
Forward-looking information is based on management’s reasonable assumptions, estimates, expectations, analyzes and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, the timely receipt of all necessary permits, licenses and regulatory approvals in connection with the future development of the projects; the availability of financing on appropriate 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 the expectations, estimates or projections of Adyton management regarding future results or events based on management’s opinions, assumptions and estimates that are believed to be reasonable as of 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 such information should not be relied upon as unknown or unpredictable factors could have material adverse effects on any future results, performance or achievements expressed or implied by Adyton. Key risk factors that could cause actual results to differ materially from those projected in the forward-looking statements include the following: impacts arising from global disruption, changes in general macroeconomic conditions; dependence on key personnel; dependence on Zenex Drilling; changes in the securities markets; changes in the price of gold or certain other commodities; changes in national and local government, legislation, taxes, controls, regulations and political or economic developments; risks and hazards associated with mineral exploration, development and mining activities (including environmental risks, industrial accidents, unusual or unexpected pressures on formations, cave-ins and floods); 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 of local communities and indigenous peoples; availability of and changes in costs associated with mining inputs and labor; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government agencies); and ownership rights to property. Investors are cautioned that such statements are not guarantees of future performance and 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 currently available information. 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 assumes no obligation to update any forward-looking information, except as required by applicable law.
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