Ardiden Limited advised that drilling has commenced at the 100%-owned, highly prospective Dorothy prospect of the Pickle Lake Gold Project in northwest Ontario, Canada. Mobilisation occurred over the weekend utilising the winter road, with the first pad cut and drill bit turning Thursday. The 2023 program will focus on first stage drilling of the anomalous broad zones at the Dorothy prospect that were identified in the 2022 campaign.

These targets are supported by historical drilling results and logs. The Company is initially targeting a total of 24 drill holes covering 3,250m over a strike length of 2.5km. Ardiden is fully funded through 2024 from the sale of the final 20% of the Lithium Joint Venture to GT1 in November 2022, enabling it to target the broad anomalous zones across the Dorothy - Dobie Prospects.

The Pickle Lake Gold Project is a continuous District-Scale landholding, located east of Red Lake in the well- endowed Uchi Geological sub-province of northwestern Ontario, Canada. Ontario is host to a number of large low to medium grade operations with significant gold ounce Mineral Resource endowments. These low to medium grade projects are either in production, under construction or currently being assessed including the Great Bear project acquired by Kinross Gold Corporation for CAD 1.6 billion in 2022.

Kinross reported a maiden resource of 5MOZ Au on 13 February 2023. The fully funded 2023 program will focus on the anomalous broad zones at the Dorothy prospect identified in the 2022 drill campaign and from historical drilling results. Dorothy has been ranked first priority due to the width of the drilled anomalous zones and large number of cross cutting structures which have been interpreted as potential fluid feeders from the primary structure into these board secondary and tertiary structures which run parallel to, and through the project tenements.

The Company is initially targeting a total of 24 drill holes covering 3,250m over a strike length of 2.5km to test the large mineralisation halo and semi massive to massive sulphide sequence, identified at both the Dorothy and Dobie prospects in the successful 2022 drill program. The holes at the Dorothy prospect have been planned at 100m spacings up to 150m deep targeting confirmation of the recently interpreted geological model.