Adamera Completes Sale of Diamond Data
Vancouver, BC, May 28, 2015 - Adamera Minerals Corp. (TSX V: ADZ) Adamera Minerals announces the sale of diamond data for the Amaruk Diamond Property in Nunavut, Canada to Churchill Diamonds.
Under the terms of the sale, Adamera receives $100,000 cash, 1 million shares of Churchill Diamonds and a 2% Gross Overriding Royalty. One half of the 2% royalty may be purchased by Churchill Diamonds for $1,000,000.
"These deals are great for Adamera as they are non - dilutive; increasing funds in the treasury while maintaining share structure. This is one of many assets that Adamera continues to hold in Nunavut or NWT including an NI 43-101 compliant uranium resource as well as advanced gold and base metals projects," says Mark Kolebaba, President and CEO of Adamera Minerals.
As Adamera is focused in Washington State, the northern assets are considered non-core assets and are for sale or joint venture.
Adamera Minerals Corp. is exploring for high-grade gold deposits within hauling distance of the operating Kettle River Mill in northeastern Washington State. The Company's strategy is to fast-track the discovery to production process by exploring close to a mill in need of ore. Adamera is exploring several projects with a goal to become the dominant exploration company in the area and to be positioned for M&A activity.
On behalf of the Board of Directors,
President & CEO
For additional information please contact:
Manager, Corporate Communications
Tel: (604) 689-2010
Fax: (604) 484-7143
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.