Adyton Expands Kabang Gold-Copper Corridor to 2.2 km and Reports Strengthening Copper Mineralization at Depth at Feni Project

Adyton Resources Corporation (ADY) has released assay results from four new drill holes at its 100%-owned Feni Island Au-Cu project in Papua New Guinea, located on the Lihir trend. The company reported that holes FDD030 through FDD032 tested peripheral zones of the central Kabang resource and returned no significant intercepts.

The only hole with significant values was FDD033, which intersected the following intervals:

• 70 m @ 0.53 g/t Au (0.03% Cu) from 170 m, including 21 m @ 0.70 g/t Au and 42 m @ 0.50 g/t Au
• 109 m @ 0.25 g/t Au, 0.18% Cu (0.50 g/t AuEq) from 293 m, including 53 m @ 0.26 g/t Au, 0.23% Cu (0.60 g/t AuEq), 3 m @ 1.90 g/t Au, 0.33% Cu (2.27 g/t AuEq), 20 m @ 0.22 g/t Au, 0.42% Cu (0.84 g/t AuEq), and 13 m @ 0.41 g/t Au, 0.23% Cu (0.73 g/t AuEq)

Additionally, FDD033 logged potassic-altered quartz diorite with chalcopyrite and bornite from 392-400 m, based on visual observations with no separate assay quoted.

Step-out holes FDD048-FDD053, for which assays are pending, reportedly intersected Kabang structures and hydrothermal breccias at both ends of the corridor, extending the system to approximately 2.2 km. This represents more than three times the approximately 650 m drilled for the 2021 Mineral Resource Estimate (MRE). All evidence from these step-out holes consists of visual observations only.

Geological data indicates that copper content strengthens with depth, with the copper-to-gold ratio of means rising approximately sixfold from the surface to depths of 400-500 m. The Danmagal porphyry target, identified as a magnetic body from approximately 440 m and located 1.1 km west-southwest of FDD026, remains untested. A 5x5 km IP survey is approximately 30% complete, with an estimated completion date of late January 2027.

Phase 1 drilling is scheduled to finish in mid-to-late November 2026, comprising holes FDD054 and FDD055, with FDD055 serving as a twin to FDD026 for metallurgical purposes. An updated Kabang MRE is promised as soon as practicable after Phase 1 assays are received. The Kabang deposit currently hosts an Inferred resource of 60.4 Mt @ 0.75 g/t Au for 1.46 moz Au (NI 43-101, effective 14 Oct 2021, 0.5 g/t Au cut-off), a figure unchanged by this release.

Adyton Resources Corporation (ADY) reported drill results that fall short of the high-grade benchmarks set by previous intercepts, though the company’s underlying geological thesis remains intact. The Feni deposit resource estimate remains unchanged at 1.46 moz Au from 2021, while the updated Kabang Mineral Resource Estimate (MRE) has been deferred until after Phase 1 assays are completed.

The recent market reaction was largely driven by the anchor hole FDD026, which returned 167 m @ 1.14 g/t AuEq from surface, reported on 15 Sept 2026. Following that announcement, the stock rose from approximately C$0.30 in mid-September to C$0.44 on 9 October, before settling at C$0.37. This recent price action represents a 20-25% drift rather than a doubling of value, meaning the market’s expectations were not fully priced in.

The latest drill results, however, present a contrast in grade and width substance. The best intercept from the new holes recorded 54.5 g·m AuEq, with gold grades ranging from 0.25 to 0.53 g/t. These figures are materially weaker than the FDD026 and FDD004 anchors that the market has been holding for. While holes FDD048 through FDD053 genuinely intersected the target structures at both ends, the lower assay content has tempered enthusiasm.

Adyton remains a pre-revenue explorer and developer with a market capitalization of approximately C$117M, based on 315.0 million shares at C$0.37. The company is not considered a micro-cap, and the recent news flow is viewed as ordinary to negative given the lean infill nature of the holes and the soft, assay-light release following the recent run-up.

Adyton Resources Corporation (TSXV: ADY; OTCQB: ADYRF; FSE: 701; PNGX: ADY) is a pre-revenue explorer and developer with a market capitalization of approximately C$117 million and 315.0 million shares outstanding. The company’s portfolio includes two primary assets in Papua New Guinea, contributing to a total resource base of 441,000 ounces of indicated gold and 2,086,000 ounces of inferred gold.

The Feni Island project, which is 100% owned by Adyton, serves as the company’s flagship growth asset. The Kabang deposit on Feni Island is characterized by a budding porphyry thesis. In 2021, the project reported an inferred resource of 60.4 million tonnes at 0.75 grams per tonne of gold, equating to 1.46 million ounces of gold. Since February 2025, the company has completed 20,460 meters of drilling at the site.

Adyton also holds a 50/50 joint venture with EVIH on the Fergusson Island project, where EVIH funds operations. The Wapolu deposit on Fergusson Island contains an indicated resource of 441,000 ounces of gold from 10.19 million tonnes at 1.35 grams per tonne, and an inferred resource of 626,000 ounces from 21.24 million tonnes at 0.92 grams per tonne, both calculated at a 0.4 grams per tonne cut-off. The company targets a restart of Wapolu in the fourth quarter of 2026. While the mining lease remains pending, Adyton has received approval for an environment permit and a 20,000-tonne bulk sample, and a Warden’s Hearing for mining lease 1390 has been completed.

Financially, Adyton reported combined cash and term deposits of C$13.4 million as of June 30, 2026, down from C$18.3 million at December 31, 2025. The company carries no debt. For the first half of 2026, Adyton recorded a net loss of C$786,000 and capitalized C$5.4 million in exploration expenditures. The company states there is no going-concern flag associated with its financial position.