Adavale Resources Limited has announced a significant update on its exploration activities at the Parkes Project in New South Wales. The company’s geological team recently completed further reconnaissance and prospect assessment from 23 to 25 June 2025. Field work focused on underexplored targets including the Cunich Prospect, the Golden Bar Area, and Parkvale South—where follow‐up rock chip sampling was conducted after a previous high-grade result of 22.2 grams per tonne of gold. At the Koh-I-Noor Mine area, a drone photogrammetry survey has revealed an east-west orientation in the historical workings, areas once noted for gold grades as high as 43.8 grams per tonne. In addition to these reconnaissance efforts, 27 rock chip samples were collected across four key locations, with all samples submitted for assay to determine potential resource extensions. Concurrent with these field activities, the company has commenced its maiden resource extension drilling program at the historic London Victoria Mine. This brownfields exploration campaign involves a 10-hole, 2,200-meter reverse circulation drilling program aimed at increasing the existing JORC-compliant mineral resource base, which currently stands at 115,000 ounces of gold, including a higher-grade subset estimate of 107,000 ounces derived from 3.14 million tonnes at 1.06 grams per tonne. Adavale Resources Limited is executing a dual strategy that combines rejuvenation of known brownfields assets with systematic evaluation of historic and greenfield targets across its tenements. Future exploration efforts will include further geochemical surveys and additional prospect reconnaissance at identified areas such as No Mistake and The Dish, as well as parts of the Front Gate prospect. The company’s focus on multiple high-potential targets within a Tier-1 mining jurisdiction reinforces the strategic value of its portfolio. The news presents a balanced outlook. On the bullish side, the combination of impressive high-grade rock chip results, cutting-edge survey techniques, and an aggressive drilling campaign at the London Victoria Mine suggests potential for significant resource expansion and increased asset value. However, the forward-looking nature of these exploration activities and inherent exploration risks mean that tangible rewards remain subject to successful assay results and further drilling outcomes, imparting a degree of caution for short-term performance.