Ardiden Limited advised that drilling is set to commence in the coming weeks at the 100%-owned, fully permitted, highly prospective Dorothy prospect of the Pickle Lake Gold Project in northwest Ontario, Canada. The fully funded 2023 program will focus on first stage drilling of the anomalous broad zones at the Dorothy prospect identified in the 2022 campaign. These targets are supported by historical drilling results and logs.

The Company is initially targeting a total of 24 drill holes covering 3,250m over a strike length of 2.5km. The Pickle Lake Gold Project is a continuous District-Scale landholding, located east of Red Lake in the well- endowed Uchi Geological sub-province of northwestern Ontario, Canada. Ontario is host to a number of large low to medium grade operations with significant gold ounce Mineral Resource endowments.

These low to medium grade projects are either in production, under construction or currently being assessed including the Great Bear project acquired by Kinross Gold Corporation for CAD 1.6 billion in 2022. Kinross reported a maiden resource of 5MOZ Au on 13 February 2023. The fully funded 2023 program will begin by focusing on the anomalous broad zones at the Dorothy prospect identified in the 2022 drill campaign and from historical drilling results.

The Company is initially targeting a total of 24 drill holes covering 3,250m over a strike length of 2.5km to test the large mineralisation halo and semi massive to massive sulphide sequence, identified at both the Dorothy and Dobie prospects in the successful 2022 drill program. The holes at the Dorothy prospect have been planned at 100m spacings up to 150m deep targeting confirmation of the recently interpreted geological model. Dorothy has been ranked first priority due to the width of the drilled anomalous zones and large number of cross cutting structures which have been interpreted as potential fluid feeders from the primary structure into these board secondary and tertiary structures which run parallel to, and through the project tenements.

Drilling is set to commence in the coming weeks and will once again be undertaken by Cyr Drilling. The proposed assessable costs for the drill program are estimated to be AUD 2.8 million for this phase of drilling. A 3D interpretation model of the Dorothy prospect represents the interpreted and modelled extent of a broad mineralisation halo (gold) with a consistent sulphide zone which displays a semi massive to massive texture in drill core (green).

A video of the interpretation model can be found on the company's website that has been modeled from the 2022 drill campaign and historical drilling. Historical drilling from the 1980's and 1990's at Dorothy support ADV's modelled continuity of these broad parallel structures to the primary structure. A detailed review of these historical drill logs (combined with selective sampling) supports the view that previous owners were targeting narrow high grade, gold mineralisation.

A number of these historical drill holes have either no reported assays or geological logs (grey). The 2022 exploration program tested four gold prospects along a 20 km strike length of the Western Hub. The majority of the 43 holes were targeting the primary structure that hosts the Golden Patricia geological sequence found in the historical Golden Patricia mine.

While the drill results derived from the primary structure confirm the Golden Patricia geological style, it is the results from the 3 holes which targeted the secondary and tertiary structures at Dorothy and Dobie (only 3 from 43 holes) which will form the basis for the 2023 program. The results of those 3 holes indicate the secondary and tertiary structures could remain open at depth and along strike, with over 30km of untested ground and include the following assay results: DR22-01: 30.65m @ 1.57 g/t Au from 31.85m Including 14.5m @ 2.59 g/t, DR22-02 38.48m @ 0.97 g/t Au from 50.52m Including 19.0m @ 1.39 g/t, DB22-01: 26.51m @ 2.1g/t Au from 77.8m Including 8.05m @ 4.05 g/t These results prompted a review of the structural model which was led by Exploration Manager (Haydn Daxter), with industry experts from Geointerp (Leigh Rankin), Southern Geoscience (Anne Tomlinson), and Optiro- Snowden (Christine Standing) to determine how to best target the broad mineralisation zones of the secondary and tertiary structures at the Company's Dorothy and Dobie Prospects. The structural review indicated a significantly deformed region at Dorothy hosting the secondary, tertiary, and three other untested structures, that runs parallel to the Bear Head Shear Zone.

Along with these parallel structures along the property, a high accumulation of cross cutting dilation shear zones was defined, which are considered to possibly be the conduit of mineralised fluids from the Bear Head Shear Zone. The technical structural review also revealed the presence of a large mineralisation halo at both Dorothy and Dobie consistent with a massive parallel sulphide zone, in line with a possible hydrothermal flooding event. Modelling of the interpreted drill data from both prospects informs the view of a broad low to medium grade gold mineralisation halo, with a semi-massive to massive sulphide lens within this mineralisation zone.

High grade gold inflections displayed an affinity to the northern region of the sulphide lens as the Company continues to interpret and understand this mineralisation event at both prospects. Interestingly, the 2022 drill campaign and historical drilling at both Dorothy and Dobie prospects (and between) informs the structural interpretation that these broad low to medium grade zones could extend over many kilometres between and beyond these prospects.