Adamera Signs Letter Agreement to Sell Kam, Hawk and other South Baker Uranium Projects
29 Novembre 2013 - 3:00PM
Access Wire
Vancouver, BC,
November 29, 2013 - Adamera Minerals Corp. (TSX V:
ADZ) - announces it
has entered into a binding letter agreement dated November 26th
2013 with Red Star Capital
Ventures Inc. (NEX: RSM.H) to sell a 100% interest in
the Kam, Hawk and South Baker properties located in the territory
of Nunavut, Canada (collectively, the "Properties").
In consideration for the
Properties, Red Star will pay to Adamera Minerals Corp the sum of
$100,000 cash and will issue 1,000,000 common shares of the
Company. Red Star will grant Adamera a 2% net smelter return
royalty with respect to the Properties, 1% of which may be
purchased by Red Star for $1,000,000.
The Properties are located in Nunavut, Canada and are part
of a large portfolio of northern projects held by Adamera
Minerals.
"This is a
positive transaction for both Adamera and Red Star. Kam and Hawk
are highly prospective projects that clearly warrant further
advancement by a company focused on uranium exploration. Realizing
value for our northern projects is a very important part of our
overall strategy as we explore and focus on our projects in
Washington State," says Mark Kolebaba, President and
CEO of Adamera Minerals Corp.
The completion of this
transaction is subject to approval by TSX-V, Red Star directors and
a final Definitive Agreement.
Adamera Minerals is actively
engaged in obtaining value for its uranium, gold, base metal and
diamond projects located in northern Canada. For a complete listing
of our projects please see our website www.adamera.com
Adamera Minerals is currently
focused on discovering high-grade gold mineralization in Washington
State and is currently advancing 5 projects near the operating
Kinross Kettle River Mill.
On
behalf of the Board of Directors,
Mark Kolebaba
President & CEO
For additional information please
contact:
Heather Kays
Manager, Corporate Communications
Tel: (604) 689-2010
Fax: (604) 484-7143
Email: info@Adamera.com
Website: www.Adamera.com
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.
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