PRESS RELEASE BY ADAMUS RESOURCES LTD REGARDING MINING AT THE TOWNOF NKROFUL

8TH APRIL, 2013 - Adamus Resources Limited's (ARL) attention has been drawn to stories about its proposed mining activities at Nkroful by a caption that appeared in a section of the Ghanaian Media since 3rd April, 2013 that neglected to provide a complete and factual picture about the company's operations in the area.

The story prominently asserted that ARL, a South African mining firm is on the verge of relocating Nkroful town, the birth place of the first president of Ghana, Osagyefo Dr. Kwame Nkrumah to a different location to pave way for mining activities. It also falsely claimed the Company is polluting water bodies in Nkroful. The story threatened that if the Company goes ahead to implement the Nkroful project, the small-scale mining that most residents' livelihood depends on will be lost.

The fact is that ARL, a subsidiary of Endeavour Mining Corporation of Canada registered in Ghana, acquired the Nkroful (Bokrobo) Mining Lease since July 2006 and has plans to develop the project. Unfortunately, continued illegal mining activities on the concession have thwarted the company's efforts to commence the development of the project. The Company, in consultation with key stakeholders in the industry, has been negotiating with the leadership of Nkroful for several years to find an amicable solution to the problem.

On 17th December, 2012, the Company met with the leadership of Nkroful at the Western Regional Coordinating Council Office in Sekondi to layout a framework to resolve the concerns of the community leaders and seek a way of developing the project. A follow up meeting was held on 13th March, 2013 where all parties agreed to the following directives.

1. That ARL is the sole owner of the Nkroful Mining Lease (concession)

2. That the leadership of Nkroful effectively write a letter to the Company to acknowledge the fact that ARL owns the mining lease within 7 days of the meeting

3. The company upon receipt of the letter will conduct environmental and social impact assessment on the concession and determine the extent of the degradation of the illegal mining activity and also determine the viability of ceding 25 acres of land for small scale mining requested by the community leaders

4. All parties agreed to a 30 day timeline to complete these activities

Unfortunately, days after the meeting, the leadership of Nkroful choose to ignore the directive of the Western Regional Security Council (REGSEC) to stop the illegal mining activities at Nkroful and has rather taken to the airwaves with a media campaign tinged with lots of falsehood and innuendos.

What is actually happening at Nkroful is an affront to the community and should be repudiated by all stakeholders that cherish and revere the town as a historical relevance in our heritage.

Illegal mining activities in and around Nkroful has resulted in significant environmental degradation to the quality of water bodies and forest resources in the area. (See pictures below). Local rivers like the Broma, Subiri and Kodubaka have consistently recorded high Total Suspended Solids (TSS) and in some cases elevated arsenic levels due to the activities of these illegal miners. As a matter of fact, the TSS concentrations of the adjourning rivers in the area in some cases are about 6000 percent above the Environmental Protection Agency's regulatory limit of 50mg/l. The Koduabak stream which serves as a source of drinking water for communities downstream recorded arsenic concentration level of 0.38mg/l well above the regulatory limit of 0.1mg/l. Arsenic is carcinogenic if exposed at even at low levels can result in a range of symptoms because of the absorption and accumulation of the inorganic arsenic into the tissues and body fluids.

ARL conducts its operations in a responsible manner guided by environmental management systems with proven safe guard systems that are monitored and evaluated by key regulatory bodies including the Environmental Protection Agency (EPA) and the Minerals Commission.

ARL also recognizes the importance of the cultural and historical heritage of Nkroful and has no intention to relocate the whole of Nkroful to a different location. The Company respects the connection that local people have to the traditional lands where they live and use for their livelihoods and thus works to develop strong relationships with local communities and work with them in partnerships towards sustainable development.

In stark contrast to the scurrilous accusations leveled by sections of the Nkroful leadership, ARL, however, has embarked on significant developmental activities in the area that has greatly benefitted local communities, including improved infrastructure maintenance of road networks, access to potable water and sanitation, support for education and health services, local training and capacity building, cultural heritage preservation and provided significant employment opportunities to the people.

ARL is the largest employer in the Elllembelle District with a total workforce of about 943 (including vendors) of which 99% are Ghanaians, and about 40% coming from the local communities.

It is important for the media to report all the facts when discussing this issue so as not to whip up negative stakeholder sentiments.

The company continues to work with all key stakeholders at all levels to find amicable solutions to this impasse and ensure that the concerns of local stakeholders are addressed to help in the advancement of the project that will have significant benefits to the community as a whole.