Announcement PDF ABN 82 110 884 252 ANNUAL REPORT 30 JUNE 2023 ARDIDEN LIMITED CONTENTS PAGE Page Corporate Directory 3 Chairman’s Letter 4 Directors' Report (including Operating and Financial Review) 5 Auditor's Independence Declaration 24 Consolidated Statement of Profit or Loss and Other Comprehensive Income 25 Consolidated Statement of Financial Position 26 Consolidated Statement of Changes in Equity 27 Consolidated Statement of Cash Flows 28 Notes to the Financial Statements 29 Directors' Declaration 51 Independent Auditor's Report 52 Shareholder Information 54 2 ARDIDEN LIMITED CORPORATE DIRECTORY DIRECTORS Michelle Roth (Independent Non-Executive Director and Chair since 21 August 2023) Greg Romain (Chief Executive Officer and Managing Director) – Appointed 24 April 2023 Pauline Gately (Independent Non-Executive Director) Jeremy Robinson (Non-Executive Director) – Appointed 21 August 2023 Matt Freedman (Non-Executive Director) – Appointed 21 August 2023 COMPANY SECRETARY Tara Robson REGISTERED AND PRINCIPAL OFFICE Level 1, 675 Murray Street WEST PERTH WA 6005 POSTAL ADDRESS PO Box 611 West Perth WA 6872 Telephone: (08) 6184 5938 Website: www.ardiden.com.au SHARE REGISTRY Computershare Investors Services Pty Limited Level 17, 221 St Georges Tce Perth WA 6000, Australia Telephone: (08) 9323 2000 Facsimile: (08) 9323 2033 AUDITORS Nexia Perth Audit Services Pty Ltd Level 3, 88 William Street Perth WA 6000 SOLICITORS Gilbert + Tobin Level 16 Brookfield Place Tower 2 123 St Georges Terrace Perth WA 6000 AUSTRALIAN SECURITIES EXCHANGE Ardiden Limited shares (ADV) are listed on the Australian Securities Exchange. CORPORATE STRUCTURE Ardiden Limited is a limited liability company that is incorporated and domiciled in Australia. Ardiden Limited has prepared a consolidated financial report incorporating the entities that it controlled during the financial year (collectively the “Group”) as follows: Ardiden Limited Ardiden Canada Ltd Uchi Gold Canada Ltd Parent Entity 100% owned and controlled entity 100% owned and controlled entity 3 ARDIDEN LIMITED CHAIRMAN’S LETTER Dear Shareholders, I would like to extend my gratitude to both our new and existing shareholders for your unwavering support throughout the year. The year encapsulated in this Annual Report stands as a remarkable milestone for Ardiden Limited, characterized by the divestment of our 20% interest in the Ontario Lithium project to Green Technology Metals (ASX:GT1). This completed transaction ensures the company is in a strong financial position with a healthy balance sheet and strong cash balance when compared to listed junior mining companies globally. This financial strength has allowed the team to progress with the exploration program at our Pickle Lake Gold project and review any other opportunities that may add value to shareholders without tapping equity markets. In addition to the cash consideration from the sale of assets, Ardiden remains a shareholder in “GT1” with ~13m shares and looks forward to delivering value to Ardiden from this substantial shareholding. As the company turned its focus towards the Pickle Lake gold project, we appointed experienced Canadian mining executive, Greg Romain as our CEO, and commenced the development and implementation of our strategic plan. Since arriving, Greg has recruited other experienced mining executives who are attracted to the Pickle Lake asset. An expanded 5000m drilling program at Pickle Lake confirmed broad medium-grade gold mineralisation and extended the known strike length to 900m whilst remaining open at depth. Post this initial program, a review is being undertaken, allowing the expertise recently recruited to better understand the complexities of the mineralisation and review both our drilling costs and logistics to ensure the prudent allocation of capital for exploration drilling. While it is still early days for these projects, we are immensely excited by the preliminary results. I want to take a moment to recognize the invaluable contributions of our board members, with special mention to our previous Chair, Bruce McFadzean, and Non-Executive Director Pauline Gately for their valuable contributions to the company. I would also like to welcome Jeremy Robinson and Matthew Freedman who recently joined the board. I feel privileged to be chairperson of Ardiden, and eagerly anticipate the next phase of our journey, one that promises to unlock the immense potential of our gold portfolio, and in doing so, create further value for our shareholders. Sincerely, Michelle Roth Interim Non-Executive Chairman Ardiden Limited 4 ARDIDEN LIMITED DIRECTORS REPORT AND FINANCIAL REVIEW STRATEGY NATURE OF OPERATIONS AND PRINCIPAL ACTIVITIES Ardiden Limited (ASX: ADV) is an ASX-listed gold exploration company focused on systematic gold exploration at its 100% owned Pickle Lake Gold Project in the well-endowed Uchi Geological Subprovince of north-west Ontario, Canada. The Company’s District-Scale Gold Project is one of the largest continuous gold land holdings in the Uchi Belt, where Barrick, Newmont, Kinross, and Evolution all hold significant gold mine and exploration assets. Ardiden’s strategic landholding is situated on the same geological belt as Red Lake, the ‘Uchi’ Subprovince, which has produced over 30M oz of gold to date and where new Tier-1 gold discoveries are still being made, such as Kinross Gold Corporation’s (NYSE:KGC)’s Great Bear Project, which reported a maiden resource of 5MOZ Au on 13 February 2023 (Figure 1). Figure 1 – Location of Ardiden’s Pickle Lake Gold project within the Uchi Belt of northwest Ontario Ardiden is solely focused on gold having sold its lithium project, over a staged disposition to Green Technology Metals (ASX:GT1) over the course of the past two years. As a result, Ardiden has $9.35M cash on hand, a further $4.8M held in trust at Canada Revenue Agency (CRA), and currently owns ~13 million shares in GT1 which will be released from escrow in November 2023. OPERATIONS REVIEW PICKLE LAKE GOLD PROJECT The Pickle Lake Gold Project is comprised of 1,088 km2 highly prospective landholdings with three existing gold deposits (Kasagiminnis, Dorothy and Dobie) and 23 other identified brownfield and greenfield gold prospects over a 100km wide belt (Figure 2). 5 ARDIDEN LIMITED DIRECTORS REPORT AND FINANCIAL REVIEW Figure 2 – Pickle Lake’s Western, Eastern and Southern Hubs, showing the 23 Gold Prospects already identified Refer ASX 10 September 2019. The potential quantity and grades stated for the Exploration Target at Kasagiminnis is conceptual in nature and there has been insufficient exploration to define Mineral Resources across the exploration target area. It is uncertain if further exploration of these targets will produce results that permit additional Mineral Resources to be estimated. The Western Hub, Pickle Lake Gold Project Work during the year was focused on the Western Hub, home to intense structural complexity, with multiple second order shear zones conducive to mineralisation across nine prospects with a >50km strike length of under-explored highly favourable geology and structural settings for gold mineralisation. This gold prospectivity is evidenced by Ardiden’s 100%-owned Dorothy-Dobie Prospects (historical estimate of 99,600 oz Au @ 5.7 g/t Au (refer ASX release 2 August 2017) and the Golden Patricia mine (Barrick), which produced 619,796 oz Au @ 15.2 g/t Au between 1988-19971 and sits within the Western Hub. The 2022 summer exploration program tested four gold prospects (Esker, Tonsil, Dorothy and Dobie) along a 20 km strike length of the Western Hub. A total of 43 holes were completed for a total of 5,939m with most of the holes targeting the primary structure that hosts the Golden Patricia geological sequence found in the historical Golden Patricia mine. While the drill results derived from the primary structure confirm the Golden Patricia geological style, it is the results from the 3 holes which targeted the secondary and tertiary structures at Dorothy and Dobie which formed the basis for the follow-up 2023 winter program. The results of those 3 holes indicate the secondary and tertiary structures could remain open at depth and along strike, with over 30km of untested ground and include the following assay results: o DR22-01 30.65m @ 1.57 g/t Au from 31.85m (Dorothy - ASX 17 Aug 2022) o DR22-02 38.48m @ 0.97 g/t Au from 50.52m (Dorothy - ASX 26 Sept 2022) o DB22-01 26.51m @ 2.1g/t Au from 77.8m (Dobie – ASX 26 Sept 2022) The summer program also saw the completion of Ardiden’s earn in agreement with Exiro Minerals Corp (Exiro) for the New Patricia property, which includes the Esker Prospect. In addition to fulfillment of all work commitments, Ardiden paid final consideration to Exiro comprising 20 million fully paid ordinary shares and C$100,000 during the year. This was the final step in securing 100% ownership across the entire Pickle Lake Gold Project. 1 Information in relation to historical gold production at the Pickle Lake Gold Camp, and Golden Patricia Mine in Figures and notes above have been referenced from three sources of publication, namely: 1. Harron, G. A. 2009. Technical Report on Three Gold Exploration Properties Pickle Lake Area, Ontario, Canada. G.A. Harron, P.Eng., G.A. Harron & Associates Inc. 6 ARDIDEN LIMITED DIRECTORS REPORT AND FINANCIAL REVIEW Figure 3 – Ardiden’s Western Hub which includes the Dorothy Dobie Prospects, Esker, Cooper, Meen, Tonsil, West which are along strike to the past producing Golden Patricia Mine. Figure 4 Map showing drilling intersections across the Western Hub Summer Drill program. Refer to ASX release dated 9 June, 17 August, and 29 September 2022 for further details on historical exploration results. A winter program consisting of a 34 diamond drill holes for 5,473m was undertaken to test the extent of the mineralisation halo identified in Ardiden’s 2022 summer drill program at the Dorothy Prospects (Figure 3). The assay results reported continue to drive the development of the Company’s geological model, whilst adding further strength to our understanding of the shallow mineralisation zones across the Western Hub (Figure 5). Results of the most recent program have increased the strike length of the highly prospective zone at the Dorothy Prospect that trends SE-NW for 900m whilst remaining open at depth and confirmed gold mineralisation in a new area of testing at the West Prospect. 7 ARDIDEN LIMITED DIRECTORS REPORT AND FINANCIAL REVIEW Figure 5 Winter drill plan over the Dorothy and West Prospect, Results reported ASX: 17 August 2022, ASX: 26 September 2022, 11 May 2023 and 7 August 2023. In addition to the broad mineralisation zone at Dorothy and West, the continuation of higher-grade intervals appears present within the Dorothy-Dobie Trend. Importantly, they are very shallow depths with all intersecting the zone at less than 75m from surface. The results reported below confirm higher-grade intervals within the broader mineralised zones of:  DR-23-12 with 3.00m @ 2.15 g/t from 52.00m,  DR-23-20 with 3.34m @ 3.22 g/t from 56.60m, and  DR-23-21 with 3.05m @ 2.99 g/t from 64.00m. Work is currently underway to better understand this area with the 900m prospective strike length at Dorothy, the newly discovered mineralisation at the West Zone, as well as targets surrounding Dobie and Tonsil which also obtained interesting results in 2022. Current plans include hyperspectral logging, petrography, and further analysis of the historic and 2023 drilling to continue advancing the geological model for the Western Hub. Following this, the plan would be to complete a geophysical survey and some small scale drill programs to verify some of the best target areas with a view to accelerating drilling if successful. Furthermore, and as announced on 7 August 2023, a comprehensive review of all field costs is underway to explore available options to reduce overall costs and reduce the reliance on the helicopter. Given the size of the Company’s land package, the large number of prospective targets, including some very interesting historical and current results, it is our goal to systematically focus future drill programs on the best opportunities for success. The work described above will allow us to accomplish this goal and to reduce costs, ensuring more dollars are spent in the ground. First Nations During the year, Ardiden signed a milestone Exploration Agreement with Cat Lake First Nation outlining the Company's commitment to developing a positive relationship and co-existence within the Cat Lake Nation’s traditional territory. The agreement came on the back of a successful first visit to the Cat Lake Nation to meet with the Band Council members and Economic Development Manager (Figure 6). Ardiden signed a milestone Exploration Agreement with Cat Lake First Nation outlining the Company's commitment to developing a positive relationship and co-existence within the Cat Lake Nation’s traditional territory. Technical Ecological Knowledge Study CE Strategies commenced the community interviews and data collection as part of the Technical Ecological Knowledge Study (TEK) over the Western Hub, to facilitate this information gathering with CE Strategies during the quarter. Ardiden has a firm commitment with each First Nation community in developing a long- 8 ARDIDEN LIMITED DIRECTORS REPORT AND FINANCIAL REVIEW lasting relationship built on trust and respect. Conducting the TEK is one important piece of understanding the traditional knowledge and customs of our First Nation stakeholders. Ardiden conducted its annual Christmas contribution to each First Nation community with a donation of Christmas Turkeys for Cat Lake, Mishkeegogamang and Slate Falls communities. Figure 6 – L to R, Chief Russell Wesley, Cat Lake Nation with Ardiden Exploration Manager. Tony Marinaro, Ardiden Indigenous and Community Liaison Manager with Rachel Wesley at the council offices Permitting The Company remains substantially permitted (Figure 7) with two early exploration permit applications lodged pending renewal. Permit # Prospetosition FN Communities PR-23-000205 PR-23-000216 Kasagiminnis South Limb Mishkeegogamang Mishkeegogamang Figure 7 – Status of Permitting at the District-Scale Pickle Lake Gold project- Competent Person’s Statement The Company confirms that it is not aware of any other new information or data that materially affects the information included in the original market announcements referred to above, and that all material assumptions and technical parameters have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements. 9 ARDIDEN LIMITED DIRECTORS REPORT AND FINANCIAL REVIEW SUMMARY OF FINANCIAL PERFORMANCE The financial results of the Group for the financial year ended 30 June 2023 and 30 June 2022 are: Total Income($) Net profit after tax ($) Earnings per share (cents) Cash and cash equivalents ($) Net Assets ($) 30 June 2023 18,227,712 15,749,330 0.59 9,353,400 41,926,035 30 June 2022 4,764,923 2,866,236 0.12 4,372,317 25,948,238 % Change 283% 450% 391% 114% 62% The net profit of the Group for the year ended 30 June 2023 was $15,749,330. Included in the revenue total is the $16,706,561 gain on the final 20% disposal of the lithium project during the period to Green Technology Metals (Refer below). In addition, there was a gain on fair value of listed investments of $1,304,952 arising from the appreciation in market value of the GT1 shares received as part consideration in previous years. During the year ended 30 June 2023 the Group’s cash position increased by $4,981,083 to $9,353,400 and the Group has no corporate debt. The increase was predominantly influenced by cash inflows associated with:   $13,683,706 cash proceeds, net of withholding tax, received from the final 20% disposal, including the deferred consideration, of the lithium project during the period to Green Technology Metals; and Interest received of $201,391. In addition, a further $4,852,836 is held on account at Canada Revenue Agency (CRA) as part withholding tax arising out of the sale of the lithium project. These inflows were offset by outflows associated with:    Expenditure related to exploration and evaluation of $6,536,353; Net payments for plant and equipment of $30,270; and Corporate, administration and wage expenditure of $2,305,947. CHANGES IN EQUITY Shares The number of shares on issue increased during the year from 2,668,335,356 to 2,688,335,356 as a result of the following: On 14 December 2022, the Company issued and allotted 20,000,000 ordinary shares to Exiro Minerals Corp (Exiro), the vendor of the New Patricia Gold Prospect. This allotment formed part of the final consideration under the terms of the agreement announced by the Company on 6 January 2020, to acquire 100% of the New Patricia Gold Prospect. Options The number of options on issue increased during the year from 71,650,030 to 91,650,030 as a result of the following: (i) On 19 April 2023, the Company issued 7,500,000 unlisted conditional performance rights to G Romain pursuant to his employment contract. (ii) On 19 April 2023, the Company issued 2,500,000 unlisted options to G Romain pursuant to his contract. These options have an exercise price of $0.008 per option, and an expiry date of 24 April 2027. (iii) On 14 June 2023, the Company issued 15,000,000 Unlisted Incentive Options to employees each having an exercise price of $0.01 per Option and an expiry date of 13 June 2027; (iv) On 14 June 2023, the Company issued 2,000,000 Unlisted Incentive Options to a consultant each having an exercise price of $0.007 per Option and an expiry date of 13 June 2027; and. (v) 7,000,000 options were forfeited without exercise. 10 ARDIDEN LIMITED DIRECTORS REPORT AND FINANCIAL REVIEW CORPORATE Managing Director and CEO Appointment During the year, Ardiden appointed highly regarded Toronto-based mining executive Greg Romain CEO and Managing Director. Greg brings a broad range of leadership, commercial and technical skills to Ardiden and has a deep understanding of both mining and exploration in Canada. His career spans over 30 years’ experience, most recently as CEO and President of MacDonald Mines Exploration Limited (TSX.V: BMK). Prior to this, Mr Romain was President & CEO of Gowest Gold Ltd (TSX.V: GWA) where he advanced its flagship Bradshaw gold project, located in Timmins Ontario, from a pure exploration play to a fully permitted 1,500 tonnes per day (TPD) underground development. He is Ardiden’s first Canadian-based director. AGM Ardiden’s Annual General Meeting (AGM) of Shareholders was held in West Perth on 29 November 2022. All resolutions put to shareholders were approved. FACTORS AND RISKS AFFECTING FUTURE PERFORMANCE LIKELY DEVELOPMENTS AND EXPECTED RESULTS Ardiden will continue to pursue its principal activity of exploration and evaluation, particularly in respect of its Gold Projects, as outlined under the heading ‘Review of Operations’ of this Report. The Company will also continue to pursue other potential investment opportunities to enhance shareholder value. The material business risks faced by the Group that are likely to impact the financial prospects of the Group, are: Exploration Risk Mineral exploration and development are high-risk undertakings, and there is no assurance that exploration of the tenements will result in the discovery of an economic deposit. Even if an apparently viable deposit is identified there is no guarantee that it can be economically exploited. Ardiden’s future exploration activities may be affected by a range of factors including geological conditions, limitations on activities due to permitting requirements, availability of appropriate exploration equipment, exploration costs, seasonal weather patterns, unanticipated operational and technical difficulties, industrial and environmental accidents, and many other factors beyond the control of the Company. Future capital needs Further funding will be required by the Group to support its ongoing activities and operations. There can be no assurance that such funding will be available on satisfactory terms or at all. General market risks The Company is exposed to general market and economic condition risks including adverse changes in levels of economic activity, exchange rates, interest rates, commodity prices, government policies, employment rates and industrial disruption. 11 ARDIDEN LIMITED DIRECTORS’ REPORT FOR THE YEAR ENDED 30 JUNE 2023 DIRECTORS’ REPORT Your Directors present their report for Ardiden Limited (“Ardiden”, or the “Company”’) and its controlled entities (‘Consolidated Entity’ or ‘Group’) for the financial year ended 30 June 2023. The Operating and Financial Review is incorporated by reference and can be found on pages 5 to 11 of this Annual Report. BOARD OF DIRECTORS The names of the Directors of the Company in office during the financial year and up to the date of this report are as follows. Directors were in office for the entire period unless otherwise stated. Directors Bruce McFadzean Michelle Roth Greg Romain Pauline Gately Jeremy Robinson Matthew Freedman Neil Hackett Robin Longley Position Independent Non-Executive Chair (1 December 2021 – resigned 21 August 2023) Independent Non-Executive Director (Appointed 10 January 2022 – Chair since 21 August 2023) Chief Executive Officer and Managing Director (appointed 24 April 2023) Independent Non-Executive Director (appointed 14 August 2018) Non-Executive Director (appointed 21 August 2023) Non-Executive Director (appointed 21 August 2023) Non-Executive Director (appointed 5 June 2012 – Resigned 30 June 2023) Managing Director (appointed 1 February 2020 - Resigned 15 September 2022) QUALIFICATIONS, EXPERIENCE AND SPECIAL RESPONSIBILITIES Michelle Roth (Independent Non-Executive Director (Chair from 21 August 2023), MBA Finance, BA Hons Ms Roth is an entrepreneur and business leader who founded New-York headquartered Roth Investor Relations in 1987. She successfully expanded this global consulting business through multiple investment cycles by formulating comprehensive shareholder engagement solutions for a worldwide client base. Her mining clients have operated mines or explored in North America, Australia, Africa, Europe and South America for gold, silver, platinum, copper, nickel, and diamonds. Ms. Roth had served as Mayor, Deputy Mayor and Planning Board Chairperson of Manalapan Township, New Jersey. She earned her MBA in Finance from Fordham University and her BA Cum Laude in Political Science with a minor in Economics from the State University of New York at Albany. Other directorships in listed companies in the last 3 years: (i) Non-executive Chair - Maple Gold Mines (TSX.V: MGM, OTCQB: MGMLF) (10/11/20 – present) Interest in Securities 6,273,472 shares Nil options Greg Romain (CEO and MD since 24 April 2023), BA ChemEngineering Mr Romain was President & CEO of MacDonald Mines Exploration Ltd (TSX.V: BMK) searching for gold within the Sudbury Mining Camp. Prior to this, he was the President & CEO of Gowest Gold Ltd (TSX-V: GWA) where, over a 13-year period, he advanced its flagship Bradshaw gold project in Timmins, Ontario from pure exploration to a fully permitted 1,500 Tonnes per Day operation. Earlier Mr Romain was President & CEO of Norcast Castings Company Limited. During his tenure at Norcast, he was successful in taking Norcast public as an Income Trust in 2005 and oversaw the sale of the company to a private equity group in 2007. Other directorships in listed companies in the last 3 years: (i) MacDonald Mines Exploration Ltd (TSX.V: BMK) (17/1/22 – 30/3/23) (ii) Gowest Gold Ltd (TSX-V: GWA)(1/5/2008 – 21/6/21) Interest in Securities Nil - Shares 2,500,000 Options 7,500,000 Performance Rights 12 ARDIDEN LIMITED DIRECTORS’ REPORT FOR THE YEAR ENDED 30 JUNE 2023 Pauline Gately (Senior Independent Non-Executive Director), BA Hons (Econ), GradDipAcc, GAICD Ms Gately’s experience includes more than a decade in the mineral resources sector and twenty years as a senior executive in international banking. Her experience in the mineral resources sector spans fund management, IPO, and M&A activity and from exploration through to commercial production on the corporate side. Prior to joining Ardiden, Pauline served as a Non-Executive Director and Non-Executive Chair of SGX-listed, Alliance Mineral Assets Ltd (AMAL). Ms Gately holds a BA Hons Economics from Strathclyde University, Graduate Diploma in Accounting from Glasgow University, and is a Graduate and member of the Australian Institute of Company Directors (GAICD). Other directorships in listed companies in the last 3 years: (i) Non-executive Chair - The Sustainable Nutrition Group Limited (2/10/19- present) (ii) Interim Executive Chair – The Sustainable Nutrition Group Limited (26/5/22 to 16/6/23) (iii) Interim Non-executive Chair – The Sustainable Nutrition Group (16/6/23- 17/8/23) (iv) Non-executive Director – Elixinol Wellness Limited2 (17/8/23-present) (v) Non-executive Chair - Kalgoorlie Gold Limited (17/9/21 – present) (vi) Non-executive Director – Pioneer Credit Limited (29/8/23 – present) Interest in Securities 884,725 shares Nil options Jeremy Robinson (Non-Executive Director), BCom Mr Robinson is an experienced resources executive, having 20 years of experience in the industry ranging from Managing Director to Business Development positions. He is currently the principal of Churchill Strategic Investments Group, which has financed multiple junior explorers and developers across the ASX and TSX. He currently serves as NonExecutive Chairman of RareX Limited (ASX:REE), Executive Chairman of Cosmos Exploration Limited (ASX:C1X), and pending Non-Executive Director of Kincora Limited. Other directorships in listed companies in the last 3 years: (i) Non-executive Director – RareX Limited (27/9/19 – present) (ii) Executive Chair – Cosmos Exploration Limited (22/3/21 – present) (iii) Non-executive Director – BBX Minerals Limited (24/8/23 – present) (iv) Non-executive Director – Kincora Limited (pending) Interest in Securities 135,000,000 shares Nil options Matthew Freedman (Non-Executive Director), BBA Mr Freedman is an executive within the mining and related services sector and is currently Executive Director of Dynamic Group Holdings Limited (ASX:DDB), as well as serving as Non-Executive Director of Cosmos Exploration Limited (ASX:C1X). Mr Freedman has previously held roles with Rio Tinto Limited, Worley Limited and Emeco Holdings Limited. Mr Freedman earned a Bachelor of Business Administration. Other directorships in listed companies in the last 3 years: (i) Executive Director – Dynamic Group Holdings Ltd (6/8/20 – present) (ii) Non-Executive Director – Cosmos Exploration Limited (1/5/22 – present) Interest in Securities Nil shares 2 Nil options Merged with The Sustainable Nutrition Group Limited 13 ARDIDEN LIMITED DIRECTORS’ REPORT FOR THE YEAR ENDED 30 JUNE 2023 Bruce McFadzean (Independent Non-Executive Chair – Resigned 21/8/23), Grad Dip (Mining) Mr McFadzean is a mining engineer with more than 40 years’ experience in the global resources industry and was most recently the Managing Director of Sheffield Resources Limited. He has led the financing, development, and operation of several new mines globally. His professional career includes 15 years with BHP Billiton and Rio Tinto in a variety of positions, and four years as Managing Director of successful ASX gold miner Catalpa Resources Limited. Under his management, Catalpa was involved in the merger to create Evolution Mining Limited. Other directorships in listed companies in the last 3 years: (iii) Non-executive Director - Argosy Limited (19/4/22 – present) (iv) Non-executive Chair - Aquirian Limited (9/4/21 – present) (v) Non-executive Director - Hastings Technology Metals Limited (1/1/21 - present) (vi) Managing Director - Sheffield Resources Limited (2/11/15 – 6/9/21) Interest in Securities 9,106,450 shares Nil options Neil Hackett (Non-Executive Director – Resigned 30 June 2023) BEcon, GDAFI, GDFP, FFin, GAICD (Merit) Mr Hackett joined Ardiden as Director in June 2012 and was Chair from 2015-2021. His experience includes 15 years in the mineral resources industry including non-executive director and/or company secretary roles with various exploration companies. Neil is also a Non-Executive Director of Steel Blue Boots, Council member of John XXIII College. and is a Course Facilitator for the Australian Institute of Company Directors. Other directorships in listed companies in the last 3 years: (i) Non-Executive Director - Hastings Technology Metals Limited (30/11/18 - present) (ii) Non-Executive Director - InteliCare Holdings Limited (19/10/19 – 15/22) (iii) Non-Executive Director - Calima Energy Limited (26/3/12 – 11/11/20) Interest in Securities 31,765,103 shares Nil options Robin Longley (Managing Director and Chief Executive Officer) (Appointed as Managing Director on 1 February 2020, Resigned 15 September 2022), BSc Hons Geology Mr Longley is a qualified geologist with a First-Class Honours Degree from the University of Western Australia and holds extensive exploration and mining experience within the gold, nickel, cobalt, lithium, and iron ore sectors. Mr Longley was most recently Managing Director of Helios Gold Limited and before that was General Manager Geology for Sundance Resources Ltd from 2007 to 2015. Other directorships in listed companies in the last 3 years Green Technology Metals Limited (3/11/21– present). Interest in Securities 19,371,933 shares Nil options COMPANY SECRETARY Tara Robson (CFO and Company Secretary), GAICD, FGIA, BA Accounting, CPA (USA, In