Ardiden Limited announced the final exploration drilling results from its 2022 drill campaign which further illustrate the belt scale potential across the Western Hub of its Pickle Lake Gold Project. Ardiden's district-scale 1,088km2 gold landholding is the second larger in the well-endowed Uchi Geological sub-province of north-western Ontario, Canada. Recent drilling at Esker and Tonsil Prospects is characteristically similar to the Golden Patricia Mine where 619,796 oz Au @ 15.2 g/t Au1 was extracted between 1988-1997.

Intersections reported by Ardiden in this announcement and previously confirm high grade mineralisation that appears to remain open along strike and at depth. Tonsil Prospect Drilling at the Tonsil Prospect focused on the Golden Patricia style vein structure that is characterised by shallow high-grade mineralisation. Results continued to successfully demonstrate the vein structure's continuity along strike within the primary structure (Figure 2).

Significant intersections include: DD22-16: 0.77m @ 25.5 g/t Au from 71.23m DD22-16: 1.85m @ 1.92 g/t Au from 25.15m DD22-15: 1.00m @ 1.68 g/t from 92.50m Drilling at the Tonsil Prospect was performed on conceptual targets generated from historical drilling and Ardiden's current geological model. A total of 19 holes were completed for 2,680m of diamond drilling, with all drill core being orientated by the geological team to provide further data and continue development of Ardiden's current geological model. A total of 18 orientated diamond drill holes for 2,206m were drilled at the Esker Prospect to test conceptual targets generated from both historical drilling and Ardiden's current geological model (Figure 3).

The latest results support Golden Patricia style mineralisation with shallow, high-grade intersections as shown below: WP22-07: 0.70m @ 8.46 g/t Au from 142.30m WP22-12: 0.59m @ 5.21 g/t Au from 86.55m WP22-07: 0.87m @ 3.54 g/t Au from 47.40m WP22-08: 1.0m @ 3.05 g/t Au from 21.00m WP22-10A: 1.0m @ 1.59 g/t Au from 27.63m. A series of diamond drill holes were executed to conduct a structural and geological assessment of the dilatation closure region of the primary structure, with WP-22-08/WP-22-11 being drilled along a traverse of ~140m in length. The traverse was a continuation from WP-22-03 and allowed the Company to gather data in a broad zone of multiple structures, adding to understanding the geological setting.

Anomalous gold mineralisation is reported in this announcement for WP-22-08 and WP-22-10A, whilst WP-22- 09 and WP-22-11 fell below the cut-off grade of 0.5 g/t Au. Permitting has gained momentum, with the awarding of the Kawashe/Kawashe North Prospect and is testament to Ardiden's enactment of responsible ESG principles and good standing in the region. A total of nine exploration permits have been granted during 2022.

Four additional permits are currently in progress with submission to the Ministry of Mines, Ontario, and when received will see 100% of the Pickle Lake Gold Project permitted for exploration activities. Results from the recent 5,939m diamond drilling and historical drilling across Ardiden's Western Hub has confirmed various styles of shallow, high grade gold mineralisation, as highlighted in yellow. In addition, these results appear to confirm mineralisation extensions across both the primary and secondary structures.

All four prospects remain open along strike and at depth with >20km of ground at the Pickle Lake Gold Project still untested.