Adroit Resources Corporate Update – Appointment, Assessment Filing and Share Issue
ADROIT RESOURCES INC.
(TSXV: ADT & FSE: A7V)
June 3rd, 2013
Adroit Resources Corporate Update – Appointment, Assessment Filing and Share Issue
Vancouver, Canada, June 3rd, 2013. Adroit Resources Inc. (TSXV: ADT & FSE: A7V).
Appointment. Management is pleased to report that Adroit has appointed Cadiz Corporate Solutions (Cadiz), a division of Cadiz Special Projects Proprietary Limited, of Cape Town, South Africa to act as a corporate advisor to Adroit, under a mandate dated May 20, 2013, to raise up to C$3,000,000 for Adroit’s exploration projects and general corporate purposes. Adroit has agreed to pay a success fee of 8% of funds raised for Adroit by Cadiz and the mandate is non-exclusive from all jurisdictions.
All funding arranged by Cadiz for Adroit, and payment of the related success fee, will be subject to acceptance of required filings by the TSX Venture Exchange (TSXV).
For more details please see www.cadiz.co.za.
Assessment Filing. Management is pleased to report that the Ministry of Northern Development and Mines has accepted the Company’s Assessment Work Submission in the sum of $1,077,896 for its Red Vein 198 sq km property in the Abitibi Greenstone Belt of Ontario, where the property forms part of the Shining Tree and South Timmins mining camps.
The Red Vein property is a highly prospective land package along the Larder Lake fault, strategically located between the Young Davidson Mine and the Côté Lake (IAMGOLD) deposit. There are 30 VMS deposits within 200km of the Red Vein property, including the Kidd Creek in Timmins with 147,880,000 tonnes grading 2.31% copper, 6.18% zinc and 87 g/t silver, and the Horne, H&G Ore bodies in Noranda with 53,700,000 tonnes grading 2.2% copper and 6.10 g/t gold.
In 2012, two NI 43-101 reports were completed on two parts of the Red Vein property in the Shining Tree camp; Grassy Lake (22 sq km) (GL) in the west and, adjacent, Little Pigeon Lake (31 sq km) (LPL) in the east. The NI 43- 101 Report on GL, described the potential for base metal massive sulphide-type and precious metal mineralization. The NI 43-101 Report on LPL, described a 6.25 km long, 0.8-5.0 m wide, high-grade copper-gold quartz vein on the property, with compelling similarities to the Hollinger-McIntyre-Coniarum Complex in Timmins.
Both NI 43-101 reports were prepared by Dr. Mark Fedikow, PhD., P.Eng, P.Geo C.P.G, a Qualified Person under the guidelines of National Instrument 43-101, who also reviewed and approved the geological information contained in this news release.
Share Issue. Management is pleased to announce that the Company has issued 500,000 common shares at a deemed price of $0.05 per share in settlement of a $25,000 debt as announced in the Company’s April 12, 2013 news release.
Incentive Options. The Company’s board of directors have unanimously decided to cancel all outstanding incentive options together with the Company’s incentive option plans with immediate effect due to current market conditions.
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Adroit Resources Inc. is a mineral exploration company that is currently exploring for antimony, gold and silver in Central Italy and precious and base metals in the Timmins South/Shining Tree/Temagami/Cobalt and Bancroft areas of Ontario, Canada. The Company currently has 159,957,209 shares issued and outstanding.
On behalf of the Board of Directors,
Graeme Rowland Chairman and President
Adroit Resources Inc.
510 – 1190 Melville Street, Vancouver, B.C., V6E 3W1 (604) 688-3304 [email protected] web site: www.adroitresources.ca
Blackwell (Corporate Advisor - Canada)
(416) 364-3123 [email protected]
Cadiz Corporate Solutions (Corporate Advisor – South Africa)
+27 21 670 4600 [email protected]
Neither the 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.