Red Vein Property Aquisition and Corporate Update
News Release – November 26th, 2013 RED VEIN PROPERTY AQUISITION AND CORPORATE UPDATE
Vancouver, Canada, November 26th, 2013: Management is pleased to report that it has now finalised an agreement to purchase a 100% interest in 15 claim units contiguous to the Company’s property in Red Vein, Ontario for a consideration of 40,000 common shares in the Company which are subject to a four month trading hold period, we confirm that the agreement was accepted for by the TSX Venture Exchange on November 21st, 2013.
This acquisition further extends the Company’s land position in the area to over 400 km2. This also consolidates the Company’s large and highly prospective, strategic land package along the Larder Lake fault, between the Young Davidson Mine and the Côté Lake deposit. IAMGOLD has recently updated its National Instrument 43-101 indicated resource estimate on Côté Lake, increasing it by 274%. The Indicated Resource is 131 million tonnes averaging 0.84 grams of gold per tonne for 3.56 million ounces (IAMGOLD, News Release 4th October, 2012). Also a recent NI 43-101 in LPL, which contains a 6.25 km-long, 0.8-5.0 m wide, high-grade copper-gold quartz vein, found compelling similarities with the Hollinger-McIntyre-Coniarum Complex in Timmins (News release, 18th January 2012).
Corporate Update: Management is pleased to report that the Company’s Annual General Meeting (AGM) took place on Thursday November 21st, 2013 which resulted in the following board changes:
Chairman & CEO. Adroit is delighted to announce the appointment Mr. Johan Grandin, MSc., as a
| Director, Chairman and CEO, Mr. Grandin, | has over 20 years of experience working with public |
| companies and a proven track record in raising venture capital. Mr. Grandin brings an extensive expertise in | |
| corporate financial restructuring and capital markets to Adroit. Through his past officer and director | |
| positions for various public issuers, Mr. Grandin has learned to streamline growth initiatives with precision. | |
| Having also worked in the field of engineering, Mr. Grandin holds a Master’s of Science degree in Business | |
| Economics and Engineering Physics from Uppsala University in Sweden. |
Directors. The board now consists of three directors; Johan Grandin, Chairman and CEO, Mark Fedikow, Vice President Exploration and Johan Juntorp, Non executive Director and Audit Committee Chairman. Although the Company’s Information Circular dated October 17th, 2013 stated the nomination of Dr. Robert Salter as Director, Dr. Salter had to withdraw his nomination from the slate of directors for medical reasons.
Mr. Johan Grandin, CEO stated, I am very glad to have been brought on to very exciting and prosperous projects in Canada. As I get to hear more about the properties, I foresee a very bright future for Adroit Resources Inc. Mr. Grandin continued, “On behalf of the Company, I wish to express our sincere gratitude to Graeme Rowland and Dave Hutcheson for the excellent contributions that they made while serving on the board.
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Dr. Mark Fedikow, PhD., P.Eng, PGeo C.P.G, a Qualified Person under the guidelines of National Instrument 43-101, has reviewed and approved the geological information contained in this news release.
Adroit Resources Inc. is a mineral exploration company currently exploring for Gold, Silver and the strategic metal Antimony in Central Italy and diamonds, precious and base metals in the Timmins South/Shinning Tree/Temagami/Cobalt and Bancroft areas of Ontario. Following the completion of the aquisition the Company’s issued and outstanding is 175,997,209.
On behalf of the Board of Directors,
Johan Grandin
Chairman & CEO
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)
(416) 364-3123 [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.