/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
PERTH, Western Australia, Oct. 18 /CNW/ - Further to its release of
October 16, 2007, Adamus Resources Limited (ASX and TSXV: ADU) wishes to
advise that the Company has agreed to issue 750,000 unlisted options ("New
Options") to Sierra Partners LLC, as part consideration for investor relations
services, on the following terms and subject to receipt of required regulatory
approvals and availability of an exemption from the prospectus or registration
statement requirements of applicable securities laws:
- 250,000 options exercisable at A$0.75 each on or before
September 30, 2010;
- 250,000 options exercisable at A$0.90 each on or before
September 30, 2010; and
- 250,000 options exercisable at A$1.10 each on or before
September 30, 2010.
The New Options will vest on 1 October 2008, subject to performance of
the consultant's obligations under its consultancy agreement which ends on
September 30, 2008.
In addition to the New Options, Sierra Partners will receive a consulting
fee of US$15,000 per month.
Adamus Resources Limited is a mineral exploration company, listed on
Australian Stock Exchange (ASX), TSX Venture Exchange (TSX-V) and Frankfurt
Stock Exchange Open Market (FSE).
The Company's primary focus is on exploring, realising and expanding the
economic potential of the Southern Ashanti Gold Project in Ghana, West Africa.
The Project encompasses approximately 500km(2) of tenure in the Ashanti Gold
Belt - host to over 60moz of gold and the Project boasts excellent access to
port and road infrastructure. Ghana is a stable West African country with a
long history and some of the world's largest gold mining operations. Gold
production is vital to the national economy. Members of the Adamus Board and
management team have proven records in mineral exploration, project
development and project financing.
The TSX-V and ASX does not accept responsibility for the adequacy or
accuracy of this release. No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information contained
For further information:
For further information: Mark Bojanjac - Managing Director, CEO, +61 8
9322 5943, email: email@example.com; Mark Connelly - Executive
Director, COO, +61 8 9322 5943, email: firstname.lastname@example.org