Adavale Resources Limited signed a Joint Venture agreement to explore and mine for coal in Indonesia with Mr Haryono Eddyarto, an Indonesian national who is a well known businessman with over 34 years' experience in the mining and coal trading industries.

Adavale will have a 60% interest in the Joint Venture with the remaining 40% to be held by Mr Eddyarto.

The Joint Venture is a significant step in Adavale's quest to become an efficient and successful operator in the Indonesian coal industry.