Vancouver British Columbia - Adamera Minerals Corp. (TSX-V:ADZ) (OTC:DDNFF) announces it has closed a private placement financing of 5,000,000 units for gross proceeds of $250,000 and a flow-through financing for 1,160,000 shares for gross proceeds of $58,000.

Each non-flow-through unit was priced at $0.05 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 $0.05 until October 24, 2026. Each flow-through share was priced at $0.05.

The securities issued pursuant to the private placement are subject to a four-month hold period expiring on February 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% 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

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.

Contact:

Email: info@Adamera.com

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.

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