Adamera Minerals Exploration Summary 2021

TSX V: ADZ; OTC: DDNFF

News Release: 22-01

Adamera Minerals Exploration Summary 2021

Vancouver, B.C., January 20, 2022 - Adamera Minerals Corp. (TSX V: ADZ; OTC: DDNFF)

provides a summary of its 2021 exploration activities on its Washington State properties. Last year was a

significant year for the Company. Our focus was on the Cooke Mountain and Buckhorn 2.0 gold projects.

Minor care and maintenance work was also done on our 100 % owned projects including

Talisman and Empire Creek.

Exploration at Cooke Mountain started in March with drilling on multiple targets. The program

was successful in discovering shallow, high-grade gold mineralization that was followed up by

additional geophysics and drilling in December of 2021. Assays from that drilling are pending.

Some $1.8 million was spent on exploration, including drilling, with 70% of that expenditure provided by

our Cooke Mountain agreement partner Hochschild Mining PLC (LON:HOC).

Adamera continued to advance exploration on the Buckhorn 2.0 project. Our knowledge of the

property was significantly advanced through an agreement with Kinross Gold Corp to acquire a

substantial dataset from their work in the area as well as work completed directly by Adamera.

Highlights of our work and our first review of the Kinross data are provided below. We look

forward to drilling in 2022.

Performing exploration, especially field activities during the year was challenging due to

COVID-19, a major labour shortage, prolonged assay delays and extreme heat and fire

conditions. We are grateful for the efforts of our team and partners for successfully advancing

our projects under such conditions. With a healthy treasury of $1.7 million and well-defined

exploration targets, we are optimistic that 2022 will be our year for a discovery that takes

Adamera to the next level.

Cooke Mountain Gold Project

The Cooke Mountain project encompasses several properties including the Lamefoot South,

Goodfoot and Oversight properties which surround former producing mines Lamefoot and

Overlook, all of which fall under a farmout agreement with Hochschild Mining PLC. In 2021, 8

initial holes for just under 3000 metres were drilled. Four holes were drilled on the western trend

near the Lamefoot Mine and 4 holes on the eastern trend near the Overlook Mine.

Approximately 1400 core sample results have been received with 400 results still pending.

On November 9, 2021 Adamera announced a new high-grade mineralized zone identified in drill

hole PL-6 at Lamefoot South. This zone was intersected from 24.08 to 26.78 metres depth and

yielded 2.7 metres grading at 4.7 g/t Au, including a 0.76 metre zone with 10.7 g/t Au. This site

is situated ~1000 metres south of the former Lamefoot Gold mine operated by Kinross Gold

Corp.

In December, 3 follow up holes were drilled to the north of PL-6, using easily

accessible/permitted sites. Results for this drilling are pending. Drilling this target to the south is

topographically more challenging and will require additional permitting. Sites to test the

southern extent are currently being selected.

Geophysical surveying immediately to the south is being conducted using electromagnetic (EM)

and self potential (SP) methods. To date only a few lines of SP have been completed. That data

shows a strong signature to the south. EM is planned for late January.

During the summer a magnetic survey and stream sampling program was completed on the Iron

Mountain property, also on the Cooke Mountain project.

Buckhorn 2.0 Gold Project

The Buckhorn 2.0 property comprises 3600 hectares of land surrounding the former high-grade

underground Buckhorn (formerly Crown Jewel) gold mine. The mine area continues to be held

by Kinross Gold.

Advancements on Buckhorn 2.0 property are noteworthy. A data transfer agreement with

Kinross was signed in the first part of September. Up until that time there was no certainty that

an agreement would be reached during the 2021 field season. To avoid the loss of field time,

Adamera had begun to perform field work that included geological mapping, collecting stream

and panned stream samples, ground magnetic surveys and VLF-EM surveys.

Based on our experience in this district, detailed ground magnetic surveying is an essential

exploration tool. More than 1141 line kilometres was surveyed, much of which was in rugged

terrain. This survey provided a high level of detail and is being used to identify targets and

structures. Importantly, the field crew recognized and recorded the location of more than 135

historic mine workings on the property to integrate into the geochemical and geophysical data

base.

Adamera performed 50 line kilometres of VLF-EM surveying with plans in place to cover the

remaining portion of the property. The VLF-EM was conducted on select parts of the property to

identify potentially mineralized structures. To that end, there appears to be a high correlation

with high gold in soil anomalies on some interpreted structures.

In mid September, Adamera started receiving Kinross data including drill hole results, soil and

rock geochemistry and Lidar maps. The acquisition of this data triggered an enormous data

review that is continuing at this time.

Of primary interest is the results for 281 drill holes that are providing incredible insight into the

underlying geology and controls on mineralization. Clearly Adamera is very interested in drill

holes that intersected high-grade gold mineralization. In particular how do those drill holes relate

to the entire Buckhorn 2.0 dataset, emphasizing the structural and geophysical information at

hand. From a purely geophysical outlook there are drill holes that have missed what we would

consider to be priority exploration targets.

Some 15,000 soil and +1200 rock samples across the property have been received under the data

transfer agreement. Two very simple observations were made immediately upon plotting of the

data. 1) soil sampling appears to be working as multiple samples with elevated to high gold

values form clusters associated with known mineralization, and 2) there are significant gaps in

the data where samples do not exist. Sampling crews were immediately mobilized to infill

unsampled areas.

The 135 known historic mine workings located by Adamera’s ground geophysical crew were

modelled using Kinross LIDAR data, a remote sensing mapping tool. Several hundred

additional similar features were identified in the process. More than 120 of the workings have

been investigated on the ground and sampled by a geologist. Results are pending.

In November, data for a property wide airborne VTEM (electromagnetic) survey was received

under the data transfer agreement. This data is currently being evaluated. Preliminary work has

identified approximately 20 priority conductors that appear not to have been tested on the

property.

This above summary captures how advanced the project will be once the data sets are compiled

and interpreted. Two sites were previously submitted for approval in mid 2021 based on

Adamera’s data collection. Several additional sites will be submitted shortly. As a new project

for Adamera, the timing for drill permits is not yet known and while permitting will be an

ongoing process we are confident we will have permits by mid 2022. Investors can expect much

more news on these developments.

Talisman Copper-Silver Property

The Talisman project straddles the USA-Canada border near Laurier, Washington and comprises

adjoining claims in both Canada and USA. The project is about 90 km by highway from the

smelter in Trail BC. The claims cover the Talisman Mine, a copper skarn deposit mined at a

relatively small scale up until the 1950’s. The mine grade was reported to be approximately 5%

copper with an unknown amount of tungsten. The property has been held by Adamera under care

and maintenance by Adamera since 2013.

Adamera has deemed this project to be a strategic exploration opportunity. The current strength

of silver and base metal prices, along with proximity to the Teck smelter in Trail BC, has

prompted the Company to consider advancing the project through a partnership with a strong

base metal focused company.

Mineralization on the property is extensive. Adamera has mapped the intermittently exposed

mineralized zones over an area that extends for more than 800 metres to the northwest and is

believed to continue extending west beneath unmineralized rocks.

Empire Creek Gold Project

This epithermal style gold-silver project has been held on care and maintenance for the past

several years. It is located along the western margin of the Republic Gold Graben approximately

6 km south of Kinross’ past producing K2 Mine now called the Curlew Basin project. Kinross

has recently reported a new discovery on that project and is executing on a substantial

exploration/development budget.

Previous surface rock and drilling samples on the property by Adamera has identified a number

of high-grade gold and silver targets. For example, a drill hole with 10.5 g/t gold and 183.3 g/t

silver over 15.2 metres proved to be of limited scope but does highlight the opportunity for

follow up exploration.

In 2021, the Company completed a VLF-EM survey over the northern part of the property to test

a concept related to a structural control on mineralization. The outcome of this survey will be

released as results are finalised.

Flag Hill Property Gold Project

Flag Hill is an epithermal style gold property in the heart of the Republic gold district. It is on

care and maintenance at present. Depending on Adamera priorities, drill permits may be

submitted in 2022 to test existing targets.

In conclusion, we are excited about rapidly advancing our high potential targets in 2022. With a

healthy treasury and two strategic projects investors can expect strong continuous news flow.

Which 2022 drill hole will be the “game changer” for Adamera is yet to be determined. However

given that we have discovery stage projects in the USA, it has been said that Adamera will gain a

lot of industry attention when our breakthrough is achieved.

On behalf of the Board of Directors, I sincerely thank our team, contractors and partners for the

dedication and hard work to make 2021 a success. We look forward to a strong commodities

market and a more favourable working environment in the year ahead.

Mark Kolebaba

President/CEO

Adamera Minerals

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.

Martin St. Pierre P.Geoph, and James Ebisch P.Geo, are Qualified Persons as defined by

National Instrument 43-101 and have reviewed data associated with these projects.

For additional information please contact:

Email: [email protected]

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.