Adamus Resources Limited - Completion Renounceable Rights Issue

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

PERTH, Western Australia, Oct. 22 /CNW/ - Adamus Resources Limited (ASX: ADU, "Adamus" or "Company") advises that it has issued 26,702,148 fully paid ordinary shares at an issue price of A$0.55 per share, pursuant to the Company's renounceable rights issue ("Rights Issue") which was announced on September 13, 2010. Holding statements in respect of the shares are being dispatched to shareholders today. The Rights Issue shortfall of 1,254,358 shares will be placed by Adamus in conjunction with the Lead Manager Helmsec Global Capital Limited.

The net proceeds of the Rights Issue will be used to provide additional contingency funds for the construction and development of the Nzema Gold Project in Ghana and to pay the expenses of the offer.

    
    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: regarding this announcement please contact Ian Cunningham, Company Secretary at [phone]