Adyton Resources: PNG Government State Team Visits Fergusson Island Wapolu Project To Commence Operations Restart Permitting

(MENAFN- Newsfile Corp) Port Moresby, Papua New Guinea--(Newsfile Corp. - March 12, 2025) - Adyton Resources Corporation (TSXV: ADY) (" Adyton " or the " Company ") is pleased to announce that the Papua New Guinea (PNG) Mineral Resources Authority (MRA) led a state team to the Wapolu project over the period 1 March to 4 March 2025. The purpose of this visit was to familiarize key department officials with the Project, which was abandoned in the mid 90's, with the intention to provide a fast track approval process given the project is a restart of a former operating mine.

"This is one of the early steps in our restart approvals process which demonstrates the States commitment to supporting Adyton and its JV partner EVIH to fast-track approvals and recommence operations," stated Tim Crossley, Chief Executive Officer. "We view this as a very positive signal from the MRA sending a team of more than 12 members representing key Government department Stakeholders to support the company in its desires to fast track the restart approvals process. Much of the original infrastructure exists, including an air-strip, warehouse and workshop structures, ROM pads and tailing impoundments, providing the JV a great head start in recommencing operations. The restart of Wapolu is a key pillar to our strategy to commence small scale operations and generate cash flow."

Gary Wang, EVIH Chief Executive Officer, commented, "We look forward to working with the MRA and other State team stakeholders to advance Wapolu permits as quickly and responsibly as possible and bring Wapolu back into production. Our team at Wapolu since December 2024 have drilled more than 3500 m of an approximate 7000 m program, which will enable us to increase confidence in the Resource and provide the necessary geological and metallurgical data to support our Mining Lease and Environment permits. After we complete this drilling at Wapolu we will move our team to the larger and richer nearby Gameta project."

Figure 1&2 : State, and Provincial Government team along with local landowners on site at Wapolu

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Update on current drill program

The current drill program which commenced in mid-December 2024 has completed 3500 m of an approximate 7000 m program. Gold mineralization at Wapolu occurs in shallow dipping horizons within a regional detachment fault zone and the footwall metamorphic rocks. The surface colluvium also contains gold-bearing boulders.

The drill program comprises both step-out drill and infill drill holes. The step-out drill program is designed to test high value target extensions of the known mineralization which is open along strike and at depth. This exploration drilling is focused on extending and increasing the known resource. The infill holes are designed to increase confidence in the Mineral Resource Estimate sufficiently to satisfy the PNG Mineral Resource Authorities criteria to advance the project to a Mining Lease application.

Three drillholes have also been completed to collect samples for metallurgical testing to begin test work in EVIH's purpose-built laboratory in Port Moresby to be conducted in parallel to the ongoing exploration program.

The Fergusson projects are under a Joint Venture Agreement with EVIH, granting EVIH the right to acquire up to a 50% ownership interest in the project. This interest is contingent on achievement of certain development milestones and a total investment of up to US$9.5 million, allocated as follows:

• US$8.5 million to fund project expenditures; and
• US$1.0 million as a direct payment to the Company, with US$500,000 already paid upon executing the agreement in May 2024.

For additional details, please refer to the official announcement dated May 13, 2024.

The Fergusson Island Gold Project

The Fergusson Island Gold Project comprises the Wapolu and Gameta advanced Exploration Licenses on Fergusson Island in Milne Bay Province Papua New Guinea (Figure 3). This region of PNG is well known for discoveries including the nearby Islands of Misima (5Moz) and Woodlark (1.6Moz). The Company has previously reported the following mineral resource estimate (Table 1).

Figure 3 : Fergusson Island Projects: Wapolu and Gameta

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Table 1 : Mineral Resource Estimates

Project	Indicated	Inferred
Au (g/t)	Tonnes (million)	Au (koz)	Au (g/t)	Tonnes (million)	Au (koz)
Gameta exploration licence	1.33	4.0	173	1.01	10.5	340
Wapolu exploration licence	-	-	-	1.06	5.8	200
Fergusson Island Gold Project	1.33	4.0	173	1.02	16.3	540

Gameta and Wapolu resources at 0.5g/t gold cut-off ¹

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