Adamus Resources Limited - October 2011 Pictorial Update

    




 /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR  DISSEMINATION IN THE UNITED STATES/ 

 PERTH, Western Australia, Nov. 3, 2011 /CNW/ - During October, Adamus Resources Limited (Adamus)   reported that positive drill results were  received from resource definition drilling at the Nfutu prospect (6kms  west of the plantsite) which remains open on strike.  This supports  Adamus' strategy of exploring satellite deposits and identifying a  resource pipeline. 

 OPERATIONS 




        --  Mining during the month focussed on Salman South 1A and North
            1A.  Unseasonal rainfall continued throughout the month
            resulting in lower than forecast tonnes mined.  Additional
            trucks will be added to the mining fleet, allowing increased
            daily mining rates during the dry season to add tonnages to the
            ROM stockpiles.
        --  Stone pitching on Akango Phase I haul road completed, Phase II
            commenced.  Phase II haul road sheeted, culverts completed and
            commissioned for use.  Corridor clearing for Phase III in
            progress.
        --  Construction of the explosives magazine fencing and storage
            area in progress.  Preparatory works for tailings dam lift
            continued.
        --  Salman Village construction progresses well with 85% of
            residential buildings completed.




 EXPLORATION 




        --  47 holes were drilled at Nfutu to infill previous drilling and
            convert the mineral resource from the Inferred category to
            Measured and Indicated.  The drilling confirmed the continuity
            of gold mineralisation within two distinct mineralised zones,
            which are similar in appearance to the Teleku Bokazo deposit
            located 2.5km to the west. The latest drilling program is
            expected to result in an increase to the existing mineral
            resource estimate, with a mineral resource update to be
            available Q4 2011.
        --  Hotopo infill drilling (31 holes for 2,974m) completed and rig
            mobilised to Salman.  Pad preparation completed at Nugget Hill
            (16), Teberu (2), Salman SW (11) and Salman SE (4) for oxide
            drill program to commence in November 2011.




 CORPORATE 




        --  The Company released its Quarterly Activities Report for the
            quarter ended 30 September 2011.  Adamus exceeded production
            targets for the 2nd continuous quarter and positive operating
            cashflow of $6.75M was achieved for the 3 months ended
            30 September 2011.
        --  The scheme booklet in relation to the proposed merger with
            Endeavour Mining  was released during the month and a
            copy despatched to all shareholders.




 Photographs appear on the Company's website at http://www.adamusresources.com.au/Site Photos 

 About Adamus Adamus Resources is a gold producer, with its key asset located in  Ghana, West Africa.  The company poured its first gold in January 2011,  entered commercial production three months later and is on target is to  produce 100,000 ounces of gold annually from its flagship Nzema Gold  Project.  The project includes open pit mining operations, a processing  facility and associated infrastructure to mine and process ore.  On  current estimates the project has a minimum life of 10 years. 

 As well as continuing with an extensive exploration program aimed at  expanding its operations in Ghana, Adamus is also targeting additional  discoveries from its significant landholding in Liberia.  Both  countries provide a stable, mining-friendly political and economic  environment for Adamus to operate. 

 Adamus is headquartered in Perth, Western Australia. The company is  listed on the Australian Securities Exchange, TSX Venture Exchange and  Frankfurt Stock Exchange Open Market. 

 In August 2011 the Company announced its intention to merge with  Endeavour Mining Corporation.  Endeavour owns the Youga Gold Mine in  Burkina Faso, West Africa as well as a pipeline of exploration and  development projects in the region.  If approved by Adamus and  Endeavour shareholders, the merger is likely to take place in December  2011. 

 Kind regards ADAMUS RESOURCES LIMITED 

 "signed" 

 Mark Connelly 

 Managing Director/CEO 

 Neither TSX Venture Exchange nor its Regulation Services Provider (as  that term is defined in the policies of the TSX Venture Exchange)  accepts responsibility for the adequacy or accuracy of this release. 

 Information in this report pertaining to exploration results was  compiled by Martin Bennett, an employee of Adamus Resources Limited,  who is a Member of the Australasian Institute of Geoscientists and has  more than 5 years experience in estimation of recoverable resources in  gold deposits.  He qualifies as a "Qualified Person" under Canadian  National Instrument 43-101 - Standards of Disclosure for Mineral  Projects.  Martin Bennett has sufficient experience which is relevant  to the style of mineralisation and type of deposit under consideration  and to the activity which he is undertaking to qualify as a "Competent  Person" as defined in the JORC Code. Martin Bennett consents to the  inclusion in the report of the matters based on this information in the  form and context in which it appears. 

 Information in this announcement pertaining to ore reserves was compiled  by Glenn Williamson an employee of Mining Resources Pty Ltd, who is a  Member of The Australasian Institute of Mining and Metallurgy.  He  qualifies as a "Qualified Person" under Canadian National Instrument  43-101 - Standards of Disclosure for Mineral Projects.  Glenn  Williamson has sufficient experience which is relevant to the style of  mineralisation and type of deposit under consideration and to the  activity which he is undertaking to qualify as a "Competent Person" as  defined in the JORC Code.  Glenn Williamson consents to the inclusion  in the report of the matters based on this information in the form and  context in which it appears. 

 Information in this announcement pertaining to mineral resources was  compiled by Nic Johnson, an employee of Hellman & Schofield Pty Ltd,  who is a Member of The Australian Institute of Geoscientists and has  more than 5 years experience in estimation of recoverable resources in  gold deposits.  He qualifies as a "Qualified Person" under Canadian  National Instrument 43-101 - Standards of Disclosure for Mineral  Projects.  Nic Johnson has sufficient experience which is relevant to  the style of mineralisation and type of deposit under consideration and  to the activity which he is undertaking to qualify as a "Competent  Person" as defined in the JORC Code. Nic Johnson consents to the  inclusion in the report of the matters based on this information in the  form and context in which it appears. 

 Caution Regarding Forward Looking Information. Certain statements included in this announcement, including information  regarding Adamus' plans with respect to its mineral properties,  constitute forward-looking information.  Forward-looking information  includes, among other things, statements regarding expected  operations.  Forward-looking information is based upon a number of  estimates and assumptions made by the Company in light of its  experience, current conditions and expectations of future developments,  as well as other factors that the Company believes are appropriate in  the circumstances.  While these estimates and assumptions are  considered reasonable by the Company, they are inherently subject to  business, economic, competitive, political and social uncertainties and  contingencies.  Many factors could cause the Company's actual results  to differ materially from those expressed or implied in any  forward-looking information provided by the Company, or on behalf of,  the Company.  Such factors include, among other things, risks relating  to additional funding requirements, metal prices, exploration,  development and operating risks, competition, production risks,  regulatory restrictions, including environmental regulation and  liability and potential title disputes.  Investors are cautioned that  forward-looking information is no guarantee of future performance and,  accordingly, investors are cautioned not to put undue reliance on  forward-looking information due to the inherent uncertainty therein.   Forward-looking information is made as at the date of this announcement  and the Company disclaims any intent or obligation to update publicly  such forward-looking information, whether as a result of new  information, future events or results or otherwise. 

Adamus Resources Limited


CONTACT:  Mark Connelly - Managing Director / CEO+61 8 9322 5943email: [e-mail] media enquiries contact:David Ikin - Professional Public Relations+61 8 9388 0944email:  [e-mail] 


    

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