Adamus Resources Limited - Completion First Tranche Private Placement

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

PERTH, Western Australia, March 17 /CNW/ - Adamus Resources Limited ("Adamus" or the "Company") (TSXV, ASX: ADU) is pleased to announce that it has completed the first tranche of the private placement announced by press release on March 10, 2010. Pursuant to the first tranche private placement, Adamus issued 14,000,000 ordinary shares at an issue price of A$0.36 per share to professional and sophisticated investors.

The net proceeds of the private placement will be used to provide a contingency fund in relation to the development of the Company's Southern Ashanti Gold Project in Ghana and for general working capital purposes.

    
    Kind regards
    ADAMUS RESOURCES LIMITED

    (signed)

    Ian Cunningham
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    COMPANY SECRETARY
    

Neither 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.

For further information: Ian Cunningham, Company Secretary, [phone]