Vancouver, BC / ACCESSWIRE / May 7, 2014 / Adamera Minerals Corp. (TSX V: ADZ) announces the Red Star Venture Capital Inc. agreement to acquire two northern uranium projects currently held by Adamera has been cancelled. Red Star Venture Capital Inc. has informed Adamera that it was unable to raise sufficient funds to complete the transaction.
Adamera continues to pursue opportunities for its northern projects which include several advanced and drill-ready gold, uranium, copper/silver and diamond projects.
Adamera is exploring for high-grade gold near an operating mill in Washington State owned by Kinross Gold Corp. The mill is reported to be operating at half capacity with ore shipped 70 kilometres from the 1.3 million ounce Buckhorn mine. The Buckhorn mine is a high grade, low-cost producer with only 2 years mine life remaining. Adamera is currently exploring five projects with high-grade gold potential within hauling distance of the Mill.
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
Email: [email protected]
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.
SOURCE: Adamera Minerals Corp.