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Ardiden Quarterly Activities Report – Quarter Ending 30 June 2023

Press Release

20 July 2023

Key appointments see Ardiden well placed to unlock the value of the Pickle Lake Gold Project:

  • Highly regarded Toronto mining executive Greg Romain appointed as CEO and Managing Director. Greg 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).
  •  Mr Eric Kallio, most recently Executive Vice President, Exploration Strategy and Growth at Agnico Eagle, appointed as Strategic Advisor – Exploration, bringing valuable experience to the Project.
  •  Non-Executive Director, Michelle Roth, to assist with the delivery of the Company’s Investor Relationships Strategy as the Company aims to increase its profile with the North American investor base.
  • Tony Marinaro has been named Indigenous & Community Liaison Manager, having previously working in a consulting role promoting Ardiden’s good standing in the community.

5,473 metre drilling program completed. The drilling consisted of 34 Diamond drill holes and covered 2.5km of strike across the Dorothy Prospect and was completed in late May.

Initial shallow drilling results confirm broad gold mineralisation: Assay results for the first eight holes have confirmed that the mineralisation is consistent with the geological model with results revealing that the tertiary structure does produce wide anomalous mineralised zones. The current program was extended beyond the original plan of 3,250m to cover a greater strike length and ensure continuity of the highly prospective areas within the tertiary structure. (ASX Release 11 May 2023). Remaining assay results are
expected later this month.

Receipt of $2.5m deferred consideration: Final receipt, net of withholding taxes, for the remaining portion of the sale of the Lithium Joint Venture to from Green Technology Metals (ASX: GT1) which was due upon GT1 reporting a JORC Mineral Resource of 20Mt at the Joint Venture tenements (ASX release 23 June 2023).

Resignation of Non-Executive Director: Neil Hackett completed his tenure on 30 June 2023. Neil was instrumental in assembling the Pickle Lake Gold Project, and divestment of the lithium assets leaving the Company with a strong balance sheet.

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