Adamus Resources Limited - Open Pit Mining Contract Awarded and
Pre-Production Mining Commenced

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

PERTH, Western Australia, Oct. 29 /CNW/ - Adamus Resources Limited (ASX:ADU) is pleased to announce the award of the open pit mining contract to African Mining Services ("AMS"), a wholly owned subsidiary of Ausdrill Limited, for the Nzema Gold Project in Ghana.

Adamus has issued a letter of intent to AMS for a 3 year contract worth approximately US$58 million for drilling, blasting, loading, hauling ore and waste, crusher feed and pit dewatering services.

Mr Mark Connelly, CEO of Adamus Resources said "AMS was chosen from five tendering companies based on overall costs, extensive project experience in Ghana and their capability to deliver suitable equipment and servicing arrangements. In addition, AMS have had a long association with Adamus in Ghana having performed exploration and grade control services on site and we look forward to strengthening the relationship between the two companies".

It is anticipated that AMS will commence work on site in November 2010.

Grade control works and compensation has secured full access to all areas in the 2011 and 2012 mine plan.

FIRST ORE TRUCKED TO ROM PAD

In the interim, a local contractor managed by Adamus has commenced trucking ore from the Nugget Hill and Teburu pits to the ROM pad.

The final stages of construction of the plant site and associated facilities remain on schedule with Adamus targeting first gold pour in Q1 2011.

(signed)

Mark Connelly

Managing Director/CEO

About Adamus

Adamus Resources Limited is an explorer and mine developer, listed on the Australian Securities Exchange (ASX), TSX Venture Exchange (TSX-V) and Frankfurt Stock Exchange Open Market (FSE).

The Company's primary focus is on exploring, realising and expanding the economic potential of the Southern Ashanti Gold Project in Ghana, West Africa. The Project encompasses approximately 665km(2) of tenure in the Ashanti Gold Belt - host to over 100moz of gold and the Project boasts excellent access to port and road infrastructure. Ghana is a stable West African country with a long history and some of the world's largest gold mining operations. Gold production is vital to the national economy. Members of the Adamus Board and management team have proven records in mineral exploration, project development and project financing.

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.

Caution Regarding Forward Looking Information.

Certain statements included in this announcement, including information regarding Adamus' plans with respect to its mineral properties, constitute forward-looking information. Forward-looking information includes, among other things, statements regarding expected operations. Forward-looking information is based upon a number of estimates and assumptions made by the Company in light of its experience, current conditions and expectations of future developments, as well as other factors that the Company believes are appropriate in the circumstances. While these estimates and assumptions are considered reasonable by the Company, they are inherently subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking information provided by the Company, or on behalf of, the Company. Such factors include, among other things, risks relating to additional funding requirements, metal prices, exploration, development and operating risks, competition, production risks, regulatory restrictions, including environmental regulation and liability and potential title disputes. Investors are cautioned that forward-looking information is no guarantee of future performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking information due to the inherent uncertainty therein. Forward-looking information is made as at the date of this announcement and the Company disclaims any intent or obligation to update publicly such forward-looking information, whether as a result of new information, future events or results or otherwise.

For further information: Mark Connelly - Managing Director/CEO, [phone], email: [email protected]; For media enquiries contact: Brian Thornton - Farrington National, [phone], email: [email protected]