Adavale Resources (ASX: $ADD) Strategic Acquisition

Adavale Resources Ltd (ASX: $ADD) has strategically acquired the South Australian Uranium Licence EL 6553, covering 456km2. This acquisition consolidates the company's significant prospective licence package in a proven uranium province, located 550km north of Adelaide and 75km east of Marree. The acquisition includes the MacDonnell Creek and George Creek Prospects, adding to the company's 100% owned tenure comprising 5 granted EL's (~1,600km2) on the northern flank of the Flinders Ranges.

Executive Commentary on Strategic Acquisition

The strategic acquisition of the South Australian Uranium Licence EL 6553 marks a significant milestone for Adavale Resources. This consolidation of a substantial prospective licence package aligns with our long-term corporate strategy to expand our presence in proven uranium provinces. The inclusion of MacDonnell Creek and George Creek Prospects further enhances our exploration and development potential, positioning us for future growth and value creation.

Summary of Strategic Acquisition and Outlook

Adavale Resources' acquisition of the South Australian Uranium Licence EL 6553 demonstrates the company's commitment to expanding its presence in a proven uranium province. The strategic consolidation of a significant prospective licence package, including the MacDonnell Creek and George Creek Prospects, underscores the company's focus on exploration and development. With the completion of the acquisition, the company is set to embark on an exploration program to confirm target areas and prepare for potential uranium mineralization. This strategic move aligns with the company's ambitions to capitalize on the increasing demand for uranium driven by new reactors, emerging Small Modular Reactor (SMR) technology, and the changing viewpoint on nuclear energy amidst the global energy transition.