Aldever Renegotiates Poplar Agreement

Aldever Resources Inc. (ALD—TSXV) (ALDVF—OTCQB) (17G1—Frankfurt) (“Aldever” or the “Company”) is pleased to announce that it has renegotiated the terms of a purchase agreement with Lions Gate Metals Inc. for the acquisition of the Poplar Copper-Moly Project, located in central British Columbia, Canada.

Under the renegotiated terms of the agreement, Aldever may acquire a 100% interest (subject to existing royalties) in the Poplar Project, by issuing 2,500,000 common shares to Lions Gate Metals Inc. upon TSX Venture Exchange Approval, and making the following cash payments of $200,000 on or before December 22, 2016; $200,000 on or before December 22, 2017, $400,000 on or before December 22, 2018, and $1,500,000 on or before December 22, 2019. In consideration of this renegotiated share issuance, the Company has reduced the aggregate cash outlay for the acquisition from $3,000,000 to the current $2,350,000 over four years. Additionally, Aldever must also complete $3,000,000 in exploration expenditures on the Poplar Project on or before December 1, 2020.

The Poplar Copper-Moly property covers an area of approximately 67,862 hectares in the Omineca Mining Division, in the central interior of British Columbia, approximately 50 kilometres south of the town of Houston, B.C. The project is a copper–molybdenum porphyry associated with the Late Cretaceous Poplar intrusive stock. The Huckleberry Mine located approximately 35 kilometres southwest of the property, is founded on a porphyry deposit of similar age and geological setting.

The Poplar Copper-Moly property represents an advanced mineral deposit. Since the drilling of the discovery hole in 1974 the Property has gone through successive stages of exploration and development drilling resulting in the publishing of a historical mineral resource estimate in 1982. In 2011 Lions Gate drilled 42 diamond drill holes on the property that totaled 16,483 metres, and subsequently, in 2012, G. H. Giroux, MASc., P. Eng. estimated the mineral resource present on the property. A three dimensional solid was constructed to constrain the mineralized area, using a 0.1 % Cu grade shell as a guide. Large internal waste zones were modeled as were some larger post mineral dykes. Of the total data base 129 drill holes totaling 37,205 m were within the mineralized zone and were used to estimate the published mineral resource.

In a NI 43-101 technical report prepared for the Company by Paul Gray P.Geo and Gary Giroux P.Eng., entitled "TECHNICAL REPORT / 2015 UPDATE ON THE POPLAR DEPOSIT, OMINECA MINING DIVISION, BRITISH COLUMBIA,” copper, molybdenum, gold and silver assays within the mineralized solid were capped at 1.4 % Cu, 0.14 % Mo, 0.34 g/t Au and 41 g/t Ag. Five metre composites were formed and used for variography. For this estimate, and to aid with some preliminary planning, the blocks were reduced to 5 x 5 x 10 m in dimension and were estimated for Cu, Mo, Au and Ag by ordinary kriging. The historical resource is classified as Indicated and Inferred based on each block’s proximity to data and the grade continuity.

At a 0.20 % Cu cut-off within the mineralized solid the Indicated resource is 131 million tonnes at 0.31% Cu, 0.009 % Mo, 0.09 g/t Au and 2.39 g/t Ag while the Inferred resource is an additional 132 million tonnes grading 0.27 % Cu, 0.005 % Mo, 0.07 g/t Au and 3.75 g/t Ag. Notwithstanding the forgoing, the Company does not treat these resource estimates as current.
The technical contents of this news release have been prepared under the supervision of Dr. Peter Born, P. Geo. Dr. Born is a Qualified Person, as that term is defined in National Instrument 43-101, and has approved this news release.

Regarding the new acquisition terms, President Clive Massey commented: “The Poplar Project is a key, long term asset for Aldever, one that we believe will increase in value once the demand for copper increases. Reducing the up-front cash component of this acquisition benefits all parties concerned and helps facilitate Aldever’s asset aggregation strategy.”

For further information, please contact:

Clive Massey, President
Aldever Resources Inc.,
Phone: (604) 644-6794

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward‐looking statements”. Forward‐looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward‐looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward‐looking statements.