A large portion of the Finny resource area is buried by volcanic cover (tefra) that varies from 0-100 meters depth, so shallow drill holes that didn't push through the cover hit barren ground instead of mineralization, explaining why historical drilling appeared unsuccessful

To win local community support in PNG, Addison management personally conducts community awareness activities at villages; Crossley spent 5 days at Finny Island doing community awareness at 5 key villages and received unanimous support to continue activities

The Lihir volcanic arc island chain contains multiple tier-one gold/copper projects: Simberi mine (8 million oz), Lihir mine (~80 million oz recorded by MRA), Finny (question mark), and Bougainville Panguna (giant), representing one of world's greatest discovery regions for large-scale gold and copper

Addison Resources was listed on TSX Venture in February 2021, raised just under 11 million Canadian dollars, and initially drilled Ferguson Island then Finny Island but the stock price did not mirror exploration success and moved opposite, leading to previous MD departure and some board changes

By December 2023-January 2024, Crossley freed himself from other commitments, saw improving gold prices and market conditions, and decided to re-energize Addison by visiting Toronto to speak with brokers who liked the company's asset package, leading to a small capital raise at 3 cents and agreement of Ferguson Island joint venture

Previous explorers at Finny Island were so focused on finding ultra-shallow epithermal gold deposits that they never analyzed drill core for copper, and in some cases used air core drilling instead of core drilling, representing poorly thought out and wasted exploration spending

'Shovel-ready' status means project is fully consented, fully permitted, mining lease granted, environmental permit granted, all landowner consents in place, and ready to mobilize for infrastructure construction

East Vision Group is a strong Chinese group from Sichuan Province with demonstrated capability to execute large infrastructure projects, evidenced by constructing 50 megawatt run-of-river hydro project feeding PNG electricity grid

Ferguson Island western side has huge geothermal potential; Addison has access rights or option to develop geothermal projects on Ferguson through relationship with Mayor Resources (larger shareholder); geothermal power development requires energy end-user

Geothermal energy cost is likely very competitive compared to diesel or heavy fuel oil power sources when geothermal source is located beside mining operation

The historical Bougainville/Panguna mine conflict demonstrates that central government support is insufficient without local community support; loss of local support led to project demise and multi-decade non-restart

In PNG, all land is customary title held by local communities, not government leases, so mining companies must negotiate directly with landowners rather than central government; this is a critical difference from other jurisdictions

Addison has already conducted staff roadshows (Ontario Conference), board member presentations in Europe (July), and plans to be active in marketing including attending Beaver Creek conference; company is re-engaging after two-year dormant period.

Phi Island resource update (new mineral resource estimate) is targeted for Q2 mid-2025 (4-5 months after November drilling start); timeline depends on drill results.

Phi Island is not a classical Lihir epithermal deposit; Lihir shows only modest copper grades while Phi Island copper mineralization appears significant; company must understand what's driving copper system at Phi Island and whether copper is contiguous and continuous.

In December 2021-January 2022, Crossley made strategic decision to put company into care and maintenance state during terrible junior mining market conditions with blood on the streets in TSX Venture sector, while he continued managing other operations

Tim Crossley has been in the mining industry since 1996, working for BHP as a project director on the South Walker Creek coal mine (Greenfield to 4 million ton/year project), then CEO of the project, then manganese operations, then iron ore division, then set up Roy Hill project for Gina Rinehart, then worked in coal before starting entrepreneurial mining ventures

Tim Crossley is the third or fourth largest shareholder in Addison Resources and has continued buying shares as a heavily invested operator-investor, not just taking a CEO salary; he bought shares at penny stock prices when no one else wanted them

Addison Resources management and board own approximately 30 million shares combined out of 206 million outstanding (about 15%), with Crossley holding just under 13 million shares (~5%), Chairman Olson holding about 12 million shares, and all other directors holding stock

Addison will need to raise approximately 4 million USD to execute the planned Finny drill program, requiring additional financing before drilling begins