Adamera Provides Corporate Update
Vancouver, BC, April 17, 2015 - Adamera Minerals Corp. (TSX V: ADZ) presents a detailed corporate progress report outlining advancements in marketing, strategy development, corporate awareness and cost effectiveness for the 4th quarter 2014 and 1st quarter 2015. A detailed summary of the Adamera properties will be released shortly.
Adamera's strategy in Washington State is to discover a high-grade gold deposit near the Kettle River Mill. This strategy is of considerable interest as the mine that currently feeds the mill is expected to be depleted of ore around the end of 2015.
Adamera has assembled a significant portfolio of advanced exploration projects around past-producing mines near the mill. Throughout 2014, Adamera focused on developing and drilling targets and advancing exploration models on these properties. As a result, high priority drill-ready targets exist on Oversight, Flag Hill, Empire Creek and the Poland-China properties. Drilling on these key properties is now the primary focus for the company.
Adamera is raising funds through a private placement to complete its 2015 exploration program and has closed a first tranche. The company will continue to raise funds through private placement.
In addition, the company is pursuing possible joint venture opportunities on its Washington properties and continuing efforts to sell its northern advanced diamond, uranium and gold projects. Such transactions are essentially non-dilutive financings that will be used to advance the Washington properties.
Adamera has been complimented for its effective low-cost exploration approach. While a very high percentage of junior exploration companies are inactive, Adamera has maintained a high level of exploration activity. This approach has enabled the company to expand and advance properties through detailed geological, geochemical, geophysical and drilling activities.
Part of the company's efficiency is related to owning key exploration equipment and knowing how to operate it. Owning a small drill, a mini excavator, several magnetometers and other geophysical and geochemical equipment allows the company to inexpensively develop targets and quickly test them by shallow drilling and trenching at a fraction of the cost. The company has also generated revenue by renting equipment to other exploration companies. Earlier cost cutting measures taken by the company, such as staff reduction, wage cuts and streamlined in-house use of equipment, ensures more cash goes in the ground and goes farther. This approach supports Adamera's two fundamental exploration philosophies: 1) test all significant targets, and 2) spend the least amount of money to find a deposit in the least amount of time.
The volatile market with its' depressed commodity prices over the past 6 months has put pressure on all resource companies. To maintain market presence and to provide market awareness, the company has continued to exhibit its projects at specific US and Canadian investor conferences. Introducing the company to important individuals and groups is important for current and future support. Below is a list of the events Adamera has participated in:
- America Exploration and Mining Association (AEMA) in Reno - The Company was invited to present its exploration activities as a part of a panel on 'Explorers and Emerging Producers' as well as exhibit in the geological Core Shack area.
- The SME -- Spokane Chapter - Invited Adamera to speak at their monthly meeting. Although the Denver gold show was occurring at the same time the room was filled to overcapacity.
- Silver Summit in Spokane Washington -- Adamera exhibited and presented its strategy and properties at the show and met with potential partners and US investors. Adamera projects and strategy were well received by local Spokane investors as the properties are only 2.5 hours from Spokane.
- AMEBC Round Up in Vancouver- Core Shack -- Adamera was invited to exhibit in the Core Shack area of the 2015 Round Up. With high attendance, Adamera gained significant positive exposure and received a mention in the McQuarrie Capital Equities analyst overview of the Round Up.
- Technical sessions - Dr. Michael Rasmussen who completed his doctorate on the Overlook Deposit and is an expert in the Oversight Property area presented our properties at two technical sessions: GSA Geological Society of America and Southwest Mining Association.
In early 2015 Adamera was published in the 'Northern Miner' magazine as well as 'Resource World' magazine. These publications provide significant corporate awareness. The company is also continuing to grow its social media activity.
Over the last year Adamera has had coverage initiated by several newsletter writers.
We are appreciative of the support from well-respected newsletter writers including Eric Coffin - Hard Rock Analyst, John Kaiser - The Bottom Fish Report and Brien Lundin -- The Gold Report. They have been able to reach a much larger audience through insightful reporting that results from a keen understanding of Adamera's projects and strategy.
Site Visits/Property Tours
With the project area located only 6.5 hours drive from Vancouver, site visits continue to be an effective means of garnering project awareness. Adamera conducted numerous site visits with various geological consultants, media representatives, shareholders and potential major investors in late 2014. As the projects become more advanced, site visits for the investor community will play a larger role in marketing for Adamera.
Due to market conditions over the past 2 years, the company focused on low-cost local marketing while acquiring and advancing projects and strategy. Over that time the company developed new geological models and several high level, high value exploration targets that combined, could potentially open the region to an entirely new level of prospectivity and near term discovery.
Based on the quality of the Washington properties and the proximity to an underutilized mill, the company feels it is not receiving adequate value in the current market and has committed to increasing value through broader exposure and corporate awareness. Frontier Merchant Capital Group, a Toronto based financial consulting firm has been retained to assist in increasing corporate exposure in both Canada and the USA to increase share price and trading volume. The campaign will run for a period of 6 months at $5,500.00 per month and will focus on private equity and retail investment in Toronto, Montreal, Calgary, and other Canadian cities. In addition, the program will focus on corporate awareness in several major cities in the USA. This joint effort is designed to increase Adamera's shareholder base across Canada and the USA. Frontier has an arms length interest in the company.
Adamera values the support of the community in their project areas in Washington State. Community awareness has been generated through company activity, a local presence, and visibility of the corporate name. As a corporate member of the community we have adopted a section of highway leading into the town of Republic, sponsor community events, hire locally whenever possible and maintain membership in the local Chamber of Commerce and other associations to increase company awareness. In addition, Adamera's exploration crew live in the town and participate in many local activities.
The community is supportive of mining as it is one of the main sources of income in the region. The company has been actively building relationships with government representatives in three counties as well as with environmental and other groups with interests in the Washington area. Adamera's low impact exploration philosophy has been successful at attaining permits for exploration. With the use of small drills and Can-dig trenching excavators the impact on the land is minimal. These ideas have been further promoted and encouraged by some of the regulatory groups.
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.