Ardiden Ltd.: Quarterly Activities Report

Press Release

MARCH 2023 QUARTERLY ACTIVITIES REPORT

HIGHLIGHTS

APPOINTMENT OF HIGHLY REGARDED TORONTO MINING EXEC AS CEO AND MANAGING DIRECTOR: Greg Romain, former CEO and President of MacDonald Mines Exploration (TSX.V:BMK), appointed 24 April 2023. He brings a broad range of leadership, commercial and technical skills to Ardiden and has a deep understanding of both mining and exploration in Canada. Greg will be based in Toronto as Ardiden’s first Canadian-based director, and will drive Ardiden to deliver on its strategy (ASX 19 April 2023).
STRONG DRILLING PROGRESS AT ARDIDEN’s 100%-OWNED DOROTHY PROSPECT: Drilling is consistent with our model and is on schedule with >75% of the planned 24-hole diamond drill program completed. Ten holes are currently at the laboratory with a steady stream of results expected over the June quarter. Focus remains on the broad, anomalous mineralized zones that were intercepted in secondary and tertiary parallel structures during the 2022 drill program.
TECHNICAL ECOLOGICAL KNOWLEDGE STUDY (TEK) UNDERWAY: Appointment of CE Strategies (CES) to lead an initial TEK for the benefit of Slate Falls First Nation, Cat Lake First Nation and Mishkeegogamang Ojibway First Nation. The aim is to preserve and boost the knowledge base used by First Nations to enhance effective decision making for the benefit of all parties.
EXPLORATION AGREEMENT REACHED: Key Exploration Agreement executed with Cat Lake First Nation during PDAC, solidifying Ardiden’s commitment to a mutually beneficial relationship within the traditional territories of the Cat Lake First Nation.
FULLY FUNDED FOR GOLD EXPLORATION INTO 2024: Sale of final 20% interest in the Lithium Joint Venture to joint venture partner, Green Technology Metals (ASX: GT1) late last year, sees Ardiden fully funded for exploration programs through 2024. Ardiden maintains 5.14% equity holding in GT1.
TENEMENT ACQUISITIONS: Ten additional tenements were acquired during the period, all within the prospective Western Hub.
EARLY EXPLORATION PERMITS: Ardiden received the final four exploration permits from the Mines Department in Thunder Bay, Ontario, Canada. The Company now has active exploration permits across its 23 prospects within the Pickle Lake Gold Project.

Read full report here.

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