Adavale Resources Limited has announced that its first RC drilling program has commenced at the London Victoria Gold Mine, a key asset within its Parkes Project acquired in January 2025. A specialist contractor, DRILLIT, has mobilised from Parkes to execute a 10-hole, 2,200‐metre drilling campaign targeting shallow extensions to the current mineralisation. The primary goal is to bolster the JORC Inferred Mineral Resource, which presently stands at 3.14 million tonnes at 1.06g/t gold—equating to approximately 107,000 ounces. In addition, the program aims to explore for perpendicular dilation veins reminiscent of those at a nearby historical high‐grade site, where gold grades reached as high as 43.8g/t. The drilling is slated to take approximately two weeks, with all drill samples heading to the ALS laboratory in Orange for assay analysis. The execution of this maiden drilling campaign marks a significant milestone for the company following its swift acquisition and subsequent mobilisation of local expertise and resources, including strong collaboration with landholders and consultants. Further exploration activities are concurrently underway at the Parkes Project. These include plans to refine an exploration target stemming from the current JORC resource, additional geochemical surveys to identify new exploration targets, and reconnaissance of further promising areas across several granted exploration licences. The Parkes Project spans around 371 square kilometres within a mining jurisdiction known for hosting major operations, enhancing the region’s attractiveness for gold and copper discovery. From a bullish perspective, the rapid commencement of this drilling campaign and the clear technical objectives underscore a promising step forward for Adavale Resources Limited. The emphasis on expanding an established resource base, coupled with the potential discovery of high-grade zones, aligns well with the interests of investors seeking growth in early-stage exploration ventures. Conversely, the bearish view cautions that early drilling results remain speculative, and any deviations from expected assay outcomes could introduce delays or diminish near-term value. The inherent risks associated with exploration continue to be a factor for market participants, making it essential to watch assay results and subsequent exploration updates for clearer guidance on the company’s trajectory.