Gold explorer Ardiden Limited ('Ardiden' or 'the Company') (ASX: ADV) is pleased to provide updates from an ongoing compilation, reprocessing and interpretation of historical data across its vast 664km2 landholding at the Pickle Lake Gold Project area.

The 'Dorothy' and 'Dobie' Gold Deposits are just two of the multiple deposit-scale targets and Gold Prospects identified within Ardiden's 664km2 land holding, encompassing 120km of under-explored strike.

Previous owners of the two Gold Deposits completed non-JORC estimates at Dorothy and Dobie which combine to an historical estimate of 99,600 oz Au @ 5.7 g/t Au, down to less than 150m below surface: Dorothy Main Deposit: 46,600 oz @ 6.17 g/t Au (Major General Resources, 1990); Dobie Deposit: 53,000 oz @ 5.50 g/t Au (St Joe Corp., Canada, 1987).

Non-JORC historical estimates (1987-1990) by original owners of the Dorothy and Dobie Deposits, were summarised in 2009 in an NI43-101 Technical Report on Gold Properties within the Pickle Lake area (Harron, 2009). The historical estimates are not reported in accordance with the JORC Code and a competent person has not done sufficient work to classify the historical estimates as mineral resources in accordance with the JORC Code. It is uncertain that following evaluation and further exploration work that the historical estimates will be able to be reported as mineral resources in accordance with the JORC Code.

Non-JORC Historical Estimates at Ardiden's 100%-Owned Dorothy and Dobie Deposits

Gold mineralisation at The Pickle Lake Gold Project has been estimated by previous exploration companies in the 1980's and 1990's, but not to present-day JORC Code reporting standards. These non-JORC historical estimates were originally reported by Ardiden in August 2017 when the Company was initially aggregating gold properties. With the appointment of Managing Director & CEO Rob Longley in May 2019, an in-depth study of the area's geology and mineralisation was undertaken before re-stating these historical estimates in accordance with current ASX guidelines.

Historical estimates were made during 1987-1990 by original owners of the Dorothy and Dobie Deposits and summarised in 2009 in an NI43-101 Technical Report on Gold Properties within the Pickle Lake area (Harron, 2009).

Contact:

Rob Longley

Tel: +61 8 9322 7600

Email: info@ardiden.com.au

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. Investors should make and rely upon their own enquires and assessments before deciding to acquire or deal in the Company's securities.

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