Adyton Resources Corporation (TSX-V: ADY) is pleased to provide an update on the current diamond drilling program at its 100% owned Gameta Gold Project on Fergusson Island, located within Papua New Guinea’s renowned “Rim of Fire”.

The assay results reported in this release continue to confirm or exceed the results of historical RC drilling and increase the confidence in the existing geological model. Recent results have confirmed the existence of a higher-grade zone of gold mineralisation. Encouragingly, ADD006 intersected 18.1m @ 4.88 g/t Au (from 60.7m), which is significantly higher than intersections returned by nearby historical RC drill holes (refer Figure 2).

Frank Terranova, Chairman, President and Chief Executive Officer of Adyton commented, “These results confirm and exceed the historical RC drilling results on Gameta. The dual objective of expanding as well as increasing the confidence in the Gameta Resource estimate remains on track. The Adyton team is greatly encouraged by the drilling results received to date and has initiated preliminary technical studies to further identify the scope for possible accelerated production scenarios on Fergusson Island. We look forward to reporting further results as they are received”.

HIGHLIGHTS:

• High-grade gold assay results continue at the 100% owned Gameta Gold Project

• Drilling program at Gameta extended. Work at 100% owned Wapolu Gold Project accelerated

• Further drill results expected imminently with all Gameta holes expected by 30 June 2021

• Significant results included:
  • ADD006
    • 18.10m (60.7 – 78.8m) @ 4.88 g/t Au
      Incl 3.0m (75 – 78m) @ 14.21 g/t Au
      Incl 1.0m (76 – 77m) @ 32.2 g/t Au

  • ADD004
    • 4.1m (65 – 69.1m) @ 0.87 g/t Au

  • ADD005
    • 6.50m (3 – 9.5m) @ 1.45 g/t Au
      Incl 1.5m (8 – 9.5m) @ 2.58 g/t Au

  • ADD007
    • 4.70m (1 – 5.7m) @ 1.43 g/t Au

  • ADD008
    • 3.0m (18 – 21m) @ 4.4 g/t Au
    • 3.1m (92 – 95.1m) @ 0.81 g/t Au

The above results are a continuation of the recently announced holes (TSX-V announcement dated 5 May 2021) which included 18.30m@ 2.65 g/t Au, 27.20m @ 4.38 g/t Au, and 5m @ 2.01 g/t Au

The current results confirm or exceed historical RC drilling results and are expected to support an increase in the confidence in the existing Inferred Resource for the Gameta Project.
Holes ADD005 and 007 confirmed the outcropping at surface nature of the mineralisation leading to confidence in existing resource models, and ADD004 and ADD008 were drilled on the margin of the existing resources to close off the ore boundaries in these areas as part of various parameters relating to technical studies being commenced.

The recent drilling results have led to an extension to the initial drilling program with a further 6 holes for circa 400 metres, testing extensions to the existing Resource at Gameta. This release reports on the drill assay results from five diamond drill (“DD”) holes, and when combined with previously reported assay results, Adyton has received assay results from eight of the forty planned holes totalling circa 3,400 metres.

In addition, a limited, targeted 400m diamond drill program has been accelerated for the 100% owned Wapolu project also located circa 30km north-west of Gameta on Fergusson Island to provide core samples for technical studies (geotechnical and metallurgical) and to confirm previous historical RC drilling.

Geological Overview:

Fergusson Island is one of the D’Entrecasteaux Islands, which are in the western end of the Woodlark extension (Woodlark Basin).

Adyton has three separate exploration projects on Fergusson Island:

1. The Gameta Gold Project, which currently has a 360,000-ounce gold inferred mineral resource ⁽¹⁾.
2. The Wapolu Project, which currently has a 140,000 oz Au inferred mineral resource⁽¹⁾.
3. Oredi Creek has widespread epithermal gold mineralisation associated with a fault zone with rock chips up to 1.4 g/t Au and a drill intersection of 70m @ 0.5 g/t Au from previous drilling programs. Importantly, this project, although early stage, adds significant strategic value to the Adyton landholding position on Fergusson Island.

The geological setting is dominated by Miocene-Recent crustal thinning created by extension (stretching) of the crust. This thinning has resulted in doming of metamorphic core complexes separated from an over-thrusted sub-seafloor oceanic mantle by a decollement (Detachment Fault Zone or DFZ), overlaying ultramafic rocks of the obducted block.

Gold mineralisation is hosted in the DFZ and within the footwall dioritic gneiss and appears to be both fracture- and dyke-related, plus sulphide-hosted.

The mineralisation model for Gameta and Wapolu suggests that gold is associated with hydrothermal fluids and is concentrated in shallow-dipping deposits within or immediately adjacent to the DFZ, which bounds the metamorphic core complexes. This general setting is analogous to such deposits as Misima in PNG and Mesquite and Picacho in California.

The gold occurs in association with fine sulphides as disseminations and in epithermal quartz veins in lensoid zones parallel to the DFZ. ⁽²⁾

Drill Program Overview:

The current diamond drilling program at the Gameta Project is testing continuity of mineralisation within the DFZ and below into the gneissic footwall, as well as increasing confidence on previous RC drilling programs from the mid-1990’s within the existing inferred resource envelope (refer Figure 1).

A graphic accompanying this announcement is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/e6baf199-646e-4c5f-9179-b6356fa50d32

The drilling is focussed on the northern third (“the northern ore zone”) of the known resources with a strike extent of over 700m being tested (note the resource zone itself occurs over a strike interval of 2,000m).

Testing is targeting the shallower open pitable material, with drilling generally less than 120m and aims to provide confirmatory data to support the results from historical RC drilling programs ahead of an expected resource upgrade in Q3 2021.

Some extensional drilling is also part of the program, testing below and down dip from known resources.

Current drilling:

To date, 30 holes have been completed for 2,700m of diamond drilling. The original proposed program of 3,000m will be extended by 400m to 3,400m to allow some infill drilling of the higher-grade ore zones. It is expected that the extended program will be complete by mid-June.
Results have been returned from Holes ADD001 to 008, with significant high-grade gold intercepts being recorded on holes ADD001, 002, 003 (TSX-V Announcement 05 May 2021) and 006 (reported in this release).

Holes ADD004, 005, 007 and 008 which are also reported in this release confirm the geological interpretation, further increasing confidence in existing geological models.

Hole ADD006 (Az 220⁰, -70⁰ dip, EOH 99.4m)^(2),(3) was proposed to test continuity of mineralisation between two historical RC drill holes. Drilling from surface to 55.6m hanging wall colluvium and altered ultramafics were cored. The drilling target (the mineralised detachment shear zone) was intersected between 55.6 – 76m, after which the hole passed into footwall felsic / mafic gneiss being terminated at 99.4m

The whole target interval was mineralised, including an interval of one metre at 32 g/t Au, which is extremely encouraging that we are seeing significant Au grades within the main target area. The hole reported a significant intersection of:

• ADD006
  • 18.10m (60.7 – 78.8m) @ 4.88 g/t Au
    Incl 3.0m (75 – 78m) @ 14.21 g/t Au
    Incl 1.0m (76 – 77m) @ 32.2 g/t Au

ADD006 was drilled on the same section as ADD005 (Az 220⁰, -65⁰ dip, EOH 105.5m)^(2),(3) and ADD008 (Az 220⁰, -80⁰ dip, EOH 108.2m)^(2),(3). ADD005 confirmed that the ore zone extended to surface, and ADD008, whilst not intersecting the strongly mineralised zone (it did intersect a shallower zone of mineralisation between 18 – 21m, and a deeper interval between 92 – 95.1m) provided invaluable geological information to be used in the next resource estimate. In particular, the understanding that the target zone does appear to “pinch and swell” in certain areas, most likely to do with structural controls.

A graphic accompanying this announcement is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/1b9c8842-5096-41b3-8894-48c2433adb66

Figure 3 presents a details view of cross section 27 which is located 100m to the north of #25, Holes ADD007 (Az 220⁰, -65⁰ dip, EOH 60.0m) and ADD004 (Az 220⁰, -85⁰ dip, EOH 99.8m) reported in this release were drilled on the same section as the previously reported ADD001 and ADD003 (see TSX-V Announcement dated 05 May 2021).

ADD007 intersected mineralisation at surface confirming that the ore zone outcrops at surface in this area, and continued into the footwall gneiss before being terminated at 60m.

ADD004 whilst not intersecting the mineralised shear zone, did intersect a thick puggy clay zone indicating that a fault may have been intersected, and a further follow up test hole was completed from this drill pad but drilling in the opposite direction to test for any continuation of mineralisation beyond the fault.

A graphic accompanying this announcement is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/e3e44ea9-57d0-4898-95d9-4f32701fb2b1

Extension of Gameta drill program and targeted drill program for the Wapolu Project

Based on the highly encouraging drill results received to date from the Gameta drill program, the drill program will be expanded to include an additional 6 diamond drill holes totalling approximately 400m. The additional drill holes will test extensions to the existing Gameta resource.

The Company has also decided to undertake a 400m diamond drill program at the its 100% owned Wapolu project, also located on Fergusson Island and which currently has a 140,000 oz Au inferred mineral resource⁽¹⁾ The objectives of the Wapolu program will be to provide geotechnical and metallurgical samples and to confirm the results of historical RC drilling.

As part of the initial drilling program, preliminary technical studies have also commenced to further identify scope for accelerated production scenarios at the Gameta Project.