Adyton Reports Fergusson Island Gameta Trenching, intersecting long intervals of mineralisation including 60m @ 1.68g/t Au, incl 16m @ 2.29g/t Au and 6m @ 3.39g/t Au

Figure 1

Location of Gameta Trenching

About Adyton

Map showing the location of Adyton’s Papua New Guinea exploration projects relative to significant PNG gold projects

BRISBANE, Australia, Aug. 24, 2021 (GLOBE NEWSWIRE) — Adyton Resources Corporation (TSX Venture: ADY) (“Adyton”) is pleased to provide an update on the auxiliary trenching program which is following the recently successful diamond drilling program at its 100% owned Gameta Gold Project on Fergusson Island, located within Papua New Guinea’s renowned “Rim of Fire”.

Highlights:

• T2A:  60m @ 1.68 g/t Au
  • Incl 16m @ 2.29 g/t Au
  • Incl 24m @ 1.96 g/t Au
  • Incl 6m @ 3.9 g/t Au

• T2B:  16m @ 1.07 g/t Au
  • Incl 4m @ 2.22 g/t Au

• T2C:  14m @ 1.07 g/t Au
  • Incl 2m @ 2.11

• Previously reported diamond core drilling results which exceeded historical grades are complimented by outcropping trenching samples.

Frank Terranova, Chairman, President and Chief Executive Officer of Adyton, commented, “The success of our maiden drilling program at Gameta continues to be validated via the recent trenching results. This deposit is outcropping at surface with grade exceeding the historical results. The combination of Gameta and Wapolu deposits will have sufficient scale to produce an economic project with substantial upside. We are now accelerating technical studies and the next phase of drilling to further define the significant potential of the Ferguson Island project.”

Overview of trenching program

A small trenching program was carried out around the area of the recently completed Adyton drilling program (see below Figure 1: Location of Gameta” Trenching) to confirm surface mineralisation and provide support to the near surface drilling results. The trench results intersected long-runs of 1-2 g/t Au mineralisation (T2A: 60m @ 1.68 g/t Au) with zones of higher grade (T2A: 16m @ 2.29 g/t Au and 6m @ 3.9 g/t Au) confirming the drill results.

The trenching intersected the main mineralised zone (the Detachment Fault Zone), along with hanging wall colluvium and basement metamorphics. The trench results will now be incorporated into the updated resource model.

Figure 1: Location of Gameta Trenching

Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3ce0cb58-bbdc-458c-a31d-30b876044ecf

About the Fergusson Island project

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 (oz Au) 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⁾

ON BEHALF OF THE BOARD OF ADYTON RESOURCES CORPORATION

Frank Terranova, Chairman, President and Chief Executive Officer

For further information please contact:

Frank Terranova, Chairman, President and Chief Executive Officer

E-mail: fterranova@adytonresources.com

Phone: +61 7 3854 2389

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

(1) Notes Regarding Inferred Mineral Resource Estimates

1. The Fergusson Island Project currently has a mineral ‎resource prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) dated December 17, 2020, which has outlined an initial inferred ‎mineral resource of: (i) at Gameta, 7.2 ‎million tonnes at an average grade of 1.55 g/t Au, for contained gold of 360,000 ounces, assuming a cut-off ‎grade of 0.8 g/t Au; and (ii) at Wapolu, 3.1 million tonnes at an average grade of 1.42 g/t Au, for contained gold ‎of 140,000 ounces, assuming a cut-off grade of 0.8 g/t Au.
2. See the NI 43-101 technical report entitled “NI 43-101 Technical Report on the Fergusson Gold Property, Milne Bay ‎Province, Papua New Guinea” (the “Fergusson Island Technical Report”) dated February 1, 2021 and prepared for XIB by Mark Berry ‎‎(MAIG), Simon Tear (MIGI PGeo), Matthew White (MAIG) and Ian Ryan Roy (MAIG), each an independent ‎mining consultant and “qualified person” as defined in NI 43-101‎, available under Adyton’s profile on SEDAR at www.sedar.com.

(2) Information regarding trenches and exploration results reported in this release

(Coordinates in UTM Zone 56, Southern Hemisphere (WGS84)

1. Surface trenching has been carried out by an excavator dug line of trench of varying orientation but predominantly along the mineralised zone (the Detachment Fault Zone DFZ) within the existing inferred resource zone, primarily to support the recently completed surface drilling program.
2. Sampling has been carried out on 1m or 2m intervals along the trench, with the full sample being sent for assay.
3. Assays are not capped.

(3) Information regarding QA / QC procedures in relation to exploration results reported in this release  

Gold assays have been carried out by Lead collection 50g charge Fire Assay with AAS finish at Intertek Laboratories, Lae, PNG, an accredited laboratory to ISO/IEC 17025 (2005) for quantitative gold determination. Sampling methodology is appropriate and in-line with standard approaches to trench sampling for the type of mineralisation being encountered. Assays are subject to quality control measures where certified reference materials / standards are included as part of the quality assurance / quality control process.

Qualified Person

The scientific and technical information contained in this press release has been prepared, reviewed, and approved by Rod Watt, BSc Hons (Geo), FAusIMM, Chief Geologist and a director of Adyton, who is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Adyton Resources Corp press release dated May 05, 2021: “The technical information in this press release has been reviewed and approved by Rod Watt, who is a fellow of the Australian Institute of Mining and Metallurgy (AusIMM) and a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (NI43-101).  Mr. Watt consents to the inclusion of his name in this release. Mr. Watt verified the data disclosed in this press release in accordance with industry standard best practices, including sampling, analytical, and test data underlying the information or opinions contained therein.

Forward looking statements

This press release includes “forward-looking statements”, including forecasts, estimates, expectations, and objectives for future operations that are subject to several assumptions, risks, and uncertainties, many of which are beyond the control of Adyton. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward looking statements in this news release include plans for additional drill testing, the intention to prepare additional technical studies, the timing of additional drill results, and the preparation of a resource upgrade in Q3 2021. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking information are based on management of the parties’ reasonable assumptions, estimates, expectations, analyses, and opinions, which are based on such management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Such factors, among other things, include: impacts arising from the global disruption caused by the Covid-19 coronavirus outbreak, changes in general macroeconomic conditions; changes in securities markets; changes in the price of gold or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); discrepancies between actual and estimated metallurgical recoveries; inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of and changes in the costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Readers are cautioned not to place undue reliance on forward looking statements or information. Adyton Resources Corporation undertakes no obligation to update forward-looking information except as required by applicable law.

ABOUT ADYTON RESOURCES CORPORATION

Adyton Resources Corporation is focused on the development of gold and copper resources in world class mineral jurisdictions. It currently has a portfolio of highly prospective mineral exploration projects in Papua New Guinea on which it is exploring for copper and gold. The Company’s mineral exploration projects are located on the Pacific Ring of Fire which hosts several world class copper and gold deposits.

Map showing the location of Adyton’s Papua New Guinea exploration projects relative to significant PNG gold projects.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7b8a3c63-cc4e-4e8c-8c2c-722099262693

Adyton was formed by a reverse takeover transaction completed with XIB I Capital Corporation on February 17, 2021, and commenced trading on the TSX Venture Exchange under the symbol “ADY” on February 24, 2021.

Adyton is also quoted on the Frankfurt Stock Exchange under the code 701: GR.

For more information about Adyton and its projects, visit www.adytonresources.com.