Adavale Resources Limited (ASX:ADD) agreed to acquire Exploration Licence 6553 from Kilonova Metals Pty Ltd for AUD 0.32 million on March 26, 2024. As per the transaction, Adavale Resources Limited will pay AUD 0.015 million non-refundable deposit, 25 million shares and deferred consideration of 25 million shares payable upon Adavale Resources Limited completing a maiden drilling program and returning an intercept of a minimum of 1m combining to at least 10m at 0.05% U3O8 by December 31, 2025. The transaction is subject to due diligence investigations, regulatory board approvals, third party approvals and approval by shareholders of Adavale Resources Limited.