Ardiden Limited (ASX: ADV) (''Ardiden' or 'the Company') wishes to advise that key members of its Board and Management have purchased Ardiden shares on market in a show of confidence in the Company.

The Company's Board and management now own over 27.5 million shares, or 1.6% of shares in the Company.

Ardiden is preparing for a winter drill programme at its Pickle Lake Gold Project in Ontario, Canada, where it aims to build on the high grade 110,000 oz gold maiden Inferred Gold Resource it announced for the Kasagimminis deposit in September 2019.

It is also reviewing historic data from the Dorothy-Dobie gold prospect at Pickle Lake with the aim of extracting potential additional gold resources from previous owners work that can be reported in accordance with the JORC (2012) Code, as well as identifying high-grade drill targets for ground testing.

CEO Rob Longley said: 'We are excited about our progress and opportunities at the Pickle Lake Gold Camp since we acquired 100% of the Project in July 2019. The current corporate activity and investment in the Ontario gold sector, in particular with Evolution Mining (ASX: EVN) at the nearby Red Lake mining centre, reinforces that we are well-positioned to take advantage of this growing Canadian gold interest'.

'With a busy start planned for 2020, we are looking forward to delivering on our goals over the coming 12 months and continuing to build value for our shareholders.'

Ardiden currently has its Exploration Manager and Project Geologist on Site at Pickle Lake negotiating with the First Nations Group, Mishkeegogamang, and organising logistics for the planned winter drilling programme. Upcoming newsflow will also include review of Dorothy-Dobie Gold Prospect historical data and continuing site visits and relationship-building with local stakeholders and First Nation groups.

Contact:

Tel: +61 8 9380 8334

Forward Looking Statement

This announcement may contain some references to forecasts, estimates, assumptions and other forward-looking statements. Although the company believes that its expectations, estimates and forecast outcomes are based on reasonable assumptions, it can give no assurance that they will be achieved. They may be affected by a variety of variables and changes in underlying assumptions that are subject to risk factors associated with the nature of the business, which could cause actual results to differ materially from those expressed herein. All references to dollars ($) and cents in this presentation are to Australian currency, unless otherwise stated. Investors should make and rely upon their own enquires and assessments before deciding to acquire or deal in the Company's securities.

(C) 2019 Electronic News Publishing, source ENP Newswire