Targeting Near Term Australian Gold Production and Exploration of Lithium in Brazil’s World Class Lithium Valley

Adelong Gold Limited (Adelong) is a minerals explorer that owns the Adelong Gold Mine in New South Wales (NSW) and a highly prospective Lithium Tenement package in the prolific ‘Lithium Valley’ of Minas Gerais, Brazil. The Company is on the path to becoming a mineral producer at its Adelong Goldfield Project.

In May 2020, the Company acquired the Adelong Gold project located in the township of Adelong, Southern NSW, approximately 20km from Tumut and 80km from Gundagai. The acquisition presented an opportunity to acquire a near term producing mine in the company’s preferred commodity, gold. The Adelong goldfield boasts historic production of more than 800,000 oz and the acquisition included real estate, plant and equipment, 16 exploration permits covering 70km² including a mining permit covering 1.5km².

Since its acquisition of Adelong the Company has increased JORC compliant resources, completed several drilling and exploration programs to identify potential future opportunities for resource expansion at Caledonia and Gibraltar, and has completed a detailed scoping study evaluating project logistics and economics supporting a plant redesign and mine reopening.

In September 2023, the Company announced that it had executed a Binding Agreement (Acquisition Agreement) to acquire a 100% interest in three applications for lithium exploration permits (Project) located in the world-class ‘Lithium Valley’ in Minas Gerais, in Brazil. The Acquisition Agreement represents a pivotal transaction for the Company and paves the way for it to secure a strategic landholding in a globally significant, mining friendly region for hard-rock lithium spodumene deposits.

The ‘Lithium Valley’ accounts for all officially recognised lithium reserves in Brazil and is an emerging world-class lithium producing region. Adelong plans to commence exploration in the coming months and has an existing on-ground team in place.