Mr. Mark Kolebaba reports

ADAMERA CLOSES FINANCING

Adamera Minerals Corp. has closed a private placement financing of five million units for gross proceeds of $250,000, and a flow-through financing of 1.16 million shares for gross proceeds of $58,000.

Each non-flow-through unit was priced at five cents and consists of one common share and one common share non-transferable warrant, with each warrant entitling the holder to purchase one common share at a price of five cents until Oct. 24, 2026. Each flow-through share was priced at five cents.

The securities issued pursuant to the private placement are subject to a four-month hold period expiring on Feb. 25, 2024. No finder's fees were paid for this financing.

A director and an officer of the company purchased or acquired direction and control over a total of 800,000 flow-through shares under the private placement. The placement to those persons constitutes a related-party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101) adopted in the policy. The company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related-party participation in the placement, as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the related parties, exceeded 25 per cent of the company's market capitalization (as determined under MI 61-101).

The company intends to use the proceeds from the flow-through financing for Canadian exploration expenditures as defined in the Income Tax Act, Canada, on the South Hedley project in southeastern British Columbia, and use the proceeds from the non-flow-through financing for exploration and corporate operations.

About Adamera Minerals Corp.

Adamera Minerals is exploring for a high-grade gold deposit near Republic, Wash. This area has reportedly produced eight million ounces of gold. Adamera is the dominant regional explorer in the area.

We seek Safe Harbor.