TSX-V: ADY · OTCQB: ADYRF · FSE: 701 · PNGX: ADYGet Adyton's news releases by emailNews by email
Kabang corridor (approx. width)Column: Kabang resource (2021)

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.

Adyton Resources · New Ireland Province, Papua New Guinea

Feni Island Gold-Copper

High-quality gold-copper on Papua New Guinea's Lihir trend

At Kabang on Feni Island, Adyton's gold-copper corridor now runs 2.2 km, with both ends mineralized and open.

2.2kmKabang corridor, both ends open
167m @ 1.14 g/tAuEq from surface, FDD026
1.46Moz AuInferred resource, 2021
26geophysical targets beyond Kabang
Get Adyton's news releases by emailInvestor PresentationScroll ↓

Source: Feni exploration update, Oct 23, 2026; Kabang drill results, Sept 15, 2026; NI 43-101 resource effective Oct 14, 2021.

01 Discovery · Kabang

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

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
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 ↗

02 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 ↗

03 Copper at depth · Kabang

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

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 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
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 ↗

04 Resource · Kabang

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

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

05 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 ↗

06 Drilling · Kabang

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

A diamond drill rig at Kabang, Feni Island
Metres drilled at Kabang, to date
10,663Feb 202620,460Oct 2026

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

07 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 ↗

08 What comes next

Phase 1 drilling ends in November; Adyton plans an updated Kabang resource in 2027

TodaySep 15, 2026Babase licence; IPstartsOct 23, 2026Corridor at 2.2 kmNov 2026Phase 1 drilling endsJan 2027IP survey complete2027Updated Kabangresource

Forward-looking. Source: Feni exploration update, Oct 23, 2026 (timetable); Sept 15, 2026 release.

09 Leadership

Insiders hold 10% of Adyton's shares; the team pairs decades in PNG with Lihir deposit expertise

  • Tim CrossleyManaging Director & CEOFormer Deputy CEO of Gloucester Coal and President and COO of BHP Billiton's West Australian Iron Ore
  • Dr. Chris BowdenCOO & Chief GeologistQualified Person for Adyton's technical disclosure
  • Dr. Erin JohnsTechnical team, FeniPhD research on the Lihir gold deposit
  • Sinton SpenceChairmanChartered Accountant in Port Moresby; MBE for services to PNG commerce and community
  • David IrvineNon-Executive DirectorCorporate strategy, supply chain and business improvement
  • Michael GrayNon-Executive DirectorCo-founder of Agentis Capital Mining Partners; formerly Macquarie Capital Markets

Source: Adyton investor presentation, Sept 2026, slides 18 and 19; Dec 2, 2025 release.

A diamond drill rig at Kabang, Feni Island
Drilling at Kabang, Feni Island
Core trays from Kabang drilling
Kabang drill core
The core shed at the Feni camp
Core logging at the Feni camp
The drill camp on Feni Island
Feni Island drill camp

Follow Adyton

Get Adyton's news releases by email

Tim Crossley, Chief Executive Officer
+61 7 3854 2389
[email protected]

Investor PresentationFact sheet

News releases

Latest from Adyton

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.