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Adamera Reports 12.2 g/t Gold on Cook Mountain Project

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Adamera Reports 12.2 g/t Gold on Cook Mountain Project

Vancouver, B.C., February 7, 2022 - Adamera Minerals Corp. (TSX V: ADZ; OTC: DDNFF) announces a high-grade gold intersection in the Overlook area of the Cook Mountain project in Washington State. Drill hole OLV6 intersected 3.05 metres with 6.5 g/t Au including a 1.52 metre zone with 12.2 g/t Au. The program was operated by Adamera and funded by Hochschild Mining Ltd (HOC: LON).

Drill hole OLV6 was designed to test an induced polarization (IP) anomaly and gold in outcrop at the Outlook Ridge prospect. The high-grade intersection occurs from 239.57 to 242.62 metres down hole and is located approximately halfway between the Overlook and the Key West Mines which are 1000 metres apart (see map). The Overlook and Key West Mines were mined by Echo Bay in the early 1990’s and are reported to have produced about 500,000 ounces of gold at an average grade of about 5 g/t.

Map showing Location of OLV6 relative to the Overlook and Key West Mines

The 12.2 g/t Au intersection occurs in clastic rocks approximately 122 metres above the limestone contact and projects to surface along a topographic / vegetation lineament between the two mines. At the clastic-limestone contact, a 6.2 metre interval with 0.7 g/t Au was intersected including 1.13g/t Au over 2.44 metres and 1.3 g/t Au over 1.5 metres.

The map shows the distribution of historic drill holes known to Adamera. The circle delineates an area lacking drill hole information and represents an area of interest to the company.

The IP response for this target appears to be related to veined and disseminated sulfides throughout the drill hole. In addition to the gold bearing zones described above, several additional zones with elevated gold were encountered, including an interval with 0.41 g/t Au over 11.9 metres from 3.35 metres to 15.24 metres, incorporating a 1.5 metre interval with 1.03 g/t Au. This shallow mineralization is assumed to be related to the gold in outcrop.

“We intersected high-grade gold mineralization along trend and midway between two past producing mines. We also intersected multiple intervals with lower grade gold over meaningful widths. What is most surprising is the lack of past drilling in this area. We can only assume that drilling was focused around the immediate area of the mines, ” says Mark Kolebaba President and CEO of Adamera Minerals Corp.

These mineralized zones are being reviewed in conjunction with other available datasets in the area and has triggered a more comprehensive evaluation of the Overlook / Key West mine district. This evaluation will incorporate several other high-grade intercepts to the north and south of the OLV6 drill hole to determine an appropriate drill program.

Gordon Gibson P.Geo, a Qualified Person as defined by National Instrument 43-101, has reviewed data associated with the project.

About Adamera

Adamera Minerals Corp. is exploring for a high-grade gold deposit near Republic Washington. This area has reportedly produced 8 million ounces of gold. Adamera is the dominant regional explorer in the area.

On behalf of the Board of Directors,

Mark Kolebaba
President & CEO

For additional information please contact:

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.