(TheNewswire)
Vancouver, B.C., TheNewswire , November 29, 2022 - Adamera MineralsCorp. (TSXV: ADZ ) ; ( OTC:DDNFF) announces the acquisition of the Polecatclaims located completely within Adamera’s South Hedley project nearHedley BC.
On November 26, 2022, Adamera signed a purchase agreement to acquire100% interest in the 252.72 hectare Polecat claims from a privateindividual in exchange for 25,000 Adamera shares. Adamera will reservea 2% NSR for the vender of the claims. Adamera holds the right topurchase the 2% NSR at anytime for $500,000. This acquisition and theshare issuance are subject to the approval of the TSX VentureExchange.
The Polecat claims contain two known mineralized occurrences wheresurface rock and drill core samples have yielded significant silver,copper, zinc and gold values including one drill hole which reported960 g/t silver with 0.2% copper from a 3 metre section of very poorlyrecovered core.
The South Hedley property, now comprising 18,632.2 hectares, islocated approximately 24 kilometres from the Copper Mountain Mine and7 kilometres from the past producing Mascot Gold Mine which is agold-copper deposit near Hedley BC. The project was originally stakedby the company to explore a similar geological setting to projectsheld by the company in Washington State.
Results from the 2022 exploration program are pending. Soil samplingby Adamera in 2021 identified areas with anomalous copper, other basemetals and trace elements of interest prompting additional staking,geophysical surveying and detailed soil sampling in 2022. None of thesamples have yet been analysed for gold.
“ The South Hedley project wasoriginally staked due to geological similarities to our projects inWashington State. Although work on this project has been a secondarypriority to our key projects, it appears to be morphing into aproperty of significant scale and potential, ” says MarkKolebaba, President and CEO of Adamera Minerals Corp.
To watch a video interview discussing Adamera’s key projects inWashington State
Gordon Gibson P.Geo, a Qualified Person as defined by NationalInstrument 43-101, reviewed data associated with the project.
Warrants and Stock Options
The Company is seeking approval from the TSX VentureExchange to extend the terms of certain warrants which would otherwiseexpire on January 11, 2023. 4,166,667 warrants granted on July 11,2018, with the original expiry date of July 11, 2021, are now extendedto expire on July 11, 2023, with each warrant entitling the holder topurchase one common share of the Company at $0.12 per share. Thewarrants are still subject to an accelerated expiry date, which comesinto effect when the price of the Company's common shares on the TSXVenture Exchange closes at a price of $0.20 or more per share duringany ten consecutive trading day period. In suchan event, the expiry date will be accelerated to a date that is 30days after the Company's shares trade for ten consecutive days at orabove $0.20.
The Company is also seeking to extend 6,875,000warrants granted on June 22, 2020, with the exercise price of $0.10and original expiry date of June 22, 2021, and 4,525,000 warrants withan exercise price of $0.10 granted on July 2, 2020, with an expirydate of July 2, 2021 will be extended to a date of December 22, 2023and January 2, 2024.
Adamera has also granted a total of 3,140,000 Stock Options toOfficers and Directors of the Company at an exercise price of $0.08expiring November 28, 2027.
Adamera Minerals Corp. is exploring for high-grade golddeposits near Republic Washington. This area has reportedly produced 8million ounces of gold. Adamera is the dominant regional explorer inthe area.
On behalf of the Boardof Directors,
Mark Kolebaba
President & CEO
For additional information please contact:
Email: info@Adamera.com
Website: www.Adamera.com
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The TSX Venture Exchange has notreviewed and does not accept responsibility for the adequacy oraccuracy of this release. Statements in this press release, other thanpurely historical information, including statements relating to theCompany’s future plans and objectives or expected results, mayinclude forward-looking statements. Forward-looking statements arebased on numerous assumptions and are subject to all of the risks anduncertainties inherent in resource exploration and development. As aresult, actual results may vary materially from those described in theforward-looking statements.
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