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Gold-copper · New Ireland Province, PNG

Feni Island

Adyton's Feni Island Gold-Copper Project sits on the productive Lihir Trend in Papua New Guinea.

Discovery · Kabang

The Kabang gold-copper corridor now runs 2.2 km, with both ends mineralized and open

Assays for the step-out holes are pending.

1.6kmbetween step-out holes FDD050 and FDD051
~650mstrike drilled for the 2021 resource

Source: Feni exploration update, Oct 23, 2026 (Figures 1 and 3). Oct 23 exploration update ↗

Discovery · Kabang

FDD026 cut 167 m at 1.14 g/t AuEq from surface, the most gold-equivalent metal of any Kabang hole

2.03g/t AuEqover 57 m, from 57 m down the hole

AuEq as Adyton reports it (formula in the notes). Source: Kabang drill results, Sept 15, 2026; Table 1 of the Feni exploration update, Oct 23, 2026. Gram-metres = interval length × AuEq grade. Sept 15 drill results ↗

Length × grade in gram-metres (g·m) AuEq: the 7 of Kabang's 9 Table 1 intercepts that reach 100 g·m
FDD026 · from surface190 g·mFDD004179 g·mFDD002166 g·mADK004149 g·mFDD005114 g·mFDD003110 g·mFDD001105 g·m

Copper at depth · Kabang

Copper strengthens with depth: FDD004 ended in 70.2 m at 0.21% Cu from 383 m

0.42%Cuover 20 m from 326 m, FDD033
5.07%Cuover 6.4 m from 149.7 m, ADK004
1,205ppm Momolybdenum, FDD019 and FDD021

Source: Feni exploration update, Oct 23, 2026. Bornite and chalcopyrite logged in FDD033 between 392 m and 400 m. Oct 23 exploration update ↗

FDD004 to scale, metres down the hole: copper by interval (Table 1, Oct 23, 2026)
FDD004 70.2 m at 0.21% Cu from 383 m, to the end of the hole0 m383 m453.2 m62 m291 m229 m at 0.08% Cu (0.71 g/t Au) from 62 mFDD00470.2 m at 0.21% Cu from 383 m,to the end of the hole0 m383 m291 m229 m at 0.08% Cu (0.71 g/t Au) from 62 m
Drill results, as reported
HoleLength (m)GradeFrom (m)To (m)
FDD0042290.08 % Cu62291
FDD00470.20.21 % Cu383453.2

Core lengths, not true widths, unless the release says otherwise.

Resource · Kabang

Kabang's 1.46 Moz Inferred gold resource came from about 650 m of strike; the corridor is now 2.2 km

60.4Mtat 0.75 g/t Au, Inferred (NI 43-101, effective Oct 14, 2021)

Mineral resources that are not reserves have no demonstrated economic viability. Source: Feni exploration update, Oct 23, 2026; NI 43-101 Technical Report on the Feni Gold-Copper Property, Oct 14, 2021. Oct 23 exploration update ↗

650 mStrike behind the 2021 resource2,200 mKabang corridor, Oct 20263× +

Discovery pipeline · Feni Island

Beyond Kabang, Feni holds 12 known targets and 26 geophysical targets, nine of them high priority

4advanced drill targets around Kabang
~30%of the 5 km × 5 km IP survey done
~40%more district from the Babase licence, EL2863

Source: Feni exploration update, Oct 23, 2026; Sept 15, 2026 release (Babase). Target positions on the map are approximate, from Adyton's Sept 2026 presentation. Oct 23 exploration update ↗

Drilling · Kabang

Adyton has drilled 20,460 m at Kabang since February 2025, in holes FDD001 to FDD053

Source: Feni drill update, Feb 18, 2026; Feni exploration update, Oct 23, 2026.

Metres drilled at Kabang, to date
10,663Feb 202620,460Oct 2026

District · Lihir Trend

Feni sits on the Lihir trend, which Adyton's presentation puts at more than 120 Moz of gold

Lihir is Newmont's mine; its geology does not prove what Feni holds.

ca. 0.5Mahost rock age, similar to Lihir
100%Adyton's interest in Feni

Source: Adyton investor presentation, Sept 2026, slide 7; Feni exploration update, Oct 23, 2026. Sept 2026 presentation ↗

Tenure

The Babase Exploration Licence (EL2863), adjacent to Feni, expands the Company's Feni Island district position by almost 40%.

Source: Sept 15, 2026 release

Mineral resources

Mineral resources are not mineral reserves and have not demonstrated economic viability. Inferred mineral resources have a high degree of uncertainty as to their existence and as to their economic and legal feasibility.

Feni Island technical report

The Kabang mineral resource is from the NI 43-101 Technical Report on the Feni Gold-Copper Property, New Ireland Province, Papua New Guinea, dated October 14, 2021, available under Adyton's profile on SEDAR+.

Gold equivalent

Gold equivalent (AuEq) = ((Au g/t × 0.93) + (Cu% × 1.71 × 0.90)), based on metal prices of US$2,000/oz Au and US$5/lb Cu, and recoveries of 93% Au and 90% Cu. Recovery assumptions are speculative as no metallurgical test work has been completed at Feni.

Lihir and other properties

Lihir, Simberi and other mines named here are owned by other companies. Mineralization on those properties is not necessarily indicative of mineralization at Feni.

Forward-looking information

This material contains forward-looking information, including drilling, survey and resource-update timetables. Actual results may differ materially. See Adyton's filings on SEDAR+.

Qualified person

Dr. Chris Bowden, PhD, GCMEE, FAusIMM(CP), FSEG, Chief Operating Officer and Chief Geologist of Adyton, is the Qualified Person as defined by NI 43-101 for Adyton's technical information.

Map

Relief: Terrain Tiles (Mapzen, AWS Open Data). Kabang corridor drawn from the drill collars in Adyton's Oct 23, 2026 release; targets placed from the map in Adyton's Sept 2026 presentation (approximate). Simplified; not an official map.