Adelayde Exploration Raises Funds for Nevada Gold Drill Program

Adelayde Exploration Inc. is seeking to raise up to $1 million through a private placement to finance its planned gold drill program in Esmeralda County, Nevada. The company announced on September 10, 2025, that it is undertaking the financing, which involves issuing up to 20 million units at a price of $0.05 per unit.

Each unit will consist of one common share of the Company and one transferable warrant, entitling the holder to purchase an additional share for $0.075 within five years of the financing's closing. According to the company, net proceeds from the placement will be allocated towards general working capital.

James Nelson, President of Adelayde, stated that current high gold prices and a limited number of outstanding shares make this an opportune time for a drill program. He noted Nevada's standing as a premier jurisdiction for gold and silver mining. Nelson emphasized that the financing will bolster the company's working capital and enhance its agility in resource allocation for future projects and marketing efforts.

With a current market capitalization under $2 million, the company suggests that any discoveries from the project could significantly impact Adelayde's valuation. The company also holds other assets in Nevada, including three lithium projects in Clayton Valley, featuring the McGee lithium clay deposit with an estimated 2.09 million tonnes of lithium carbonate equivalent (LCE).