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very year, it seems there are a handful of resource exploration stocks that truly capture the market’s attention based on the prospects for a major, game-changing mineral discovery. Last year, I had two of these in the Hard Rock Analyst (HRA) portfolio. Both companies, which I like to call “premier momentum drill speculations” provided an opportunity for lightning-fast returns, and we’ll discuss that in more detail later in this Special Situations report.

HRA Journal provides you with in-depth analysis of the companies on our active coverage list along with insightful commentary on the metals and equities markets. As a recipient of this Special Situations report, please click the SUBSCRIBE button to access your exclusive savings. —Eric

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The Republic Mining District of NE Washington State is a highly prolific, yet widely underexplored high-grade gold producing region with recent low-cost production of over 6 Million ounces of gold by majors including Kinross Gold (NYSE: KGC) and Hecla Mining (NYSE: HL). Kinross’s Buckhorn mine (which is nearing the end of its production life-cycle) has produced over 1.3 Million ounces of high-grade gold – at around 12 grams per ton on average – at a cost of only around US$500/oz—making it the lowest-cost gold-producing asset in the company’s robust portfolio. Translation: The Republic Mining District is extraordinarily rich in high-grade, near-surface gold mineralization, and Adamera is primed to drill into several large, high-potential targets within the next 4 to 8 weeks. Adamera’s CEO and senior geologist Mark Kolebaba recognized the area’s vast discovery potential early-on during the recent and extended bear market and staked a substantial gold property portfolio for Adamera consisting of approximately 2 sq km within Kinross’s Republic mining unit. In late 2016, while in search of additional, large-scale mineral targets, Mark was astounded to learn that neither Kinross nor anyone else had ever flown an Electromagnetic Survey over the Republic Mining District. Understanding the significance of that oversight, Mark immediately commissioned an airborne VTEM survey. Spectacular results from that survey have led Adamera to increase its landholdings by over 1,000% in recent months. I’ll show you precisely why in just a moment! Mark, being the brilliant geologist that he is, also recognized that the generally accepted geologic model of the area (VMS “volcanogenic massive sulfide”) did not match up with the data from Adamera’s multi-year field observations. To that end, Mark has compiled a substantial stockpile of compelling geologic data backing up his theory that the Republic Mining District deposits are not skarn or VMS as previously thought, but sediment hosted gold which are also prone to “deposit clustering” and include numerous large-scale discoveries in the magnitude of 1 - 3 Million ounces Au.

Via its recently flown VTEM survey, Adamera has now identified and locked up at least TEN brand new, large-scale anomalies (aka “gold exploration targets”) – many of which have larger footprints than Kinross’s Buckhorn gold project (~1.3 Million ounces produced; value ~$1.5 BILLION). This scattering of anomalies – with more forthcoming as data is further analyzed and modelled – underpins Mark’s groundbreaking hypothesis that the geology of the Republic Mining District is indeed sediment hosted gold and that these anomalies represent the “deposit clustering” that is typically associated with this type of precious metals laden geologic structure.

One Man’s Quest for a Game Changing Gold Discovery Mark Kolebaba and Eric Coffin Onsite at Adamera’s Oversight Property Mark and I reviewing newly drilled core during Adamera’s 2014 small-scale drill program on the Oversight Project in the northeastern portion of what is now the Cooke Mountain Project. That drill program signified the beginning of Mark’s quest to redefine the geologic model of the district. The Adamera story is one of patient, well-guided mineral exploration spearheaded by CEO Mark Kolebaba. I’ve known Mark for almost 20 years, and I can honestly say I have never seen him this enthusiastic about a mineral exploration project. And this is a man who’s credited with the discovery of the 1.4 Million ounce Hope Bay gold deposit in Nunavut, Canada, which is currently being put into production by TMAC Resources. He was also integral to the discovery of the first large set of kimberlite pipes on the Ekati Diamond Camp – Canada’s first surface and underground diamond mine – after the first Point Lake kimberlite was discovered. The Ekati mine, which is operated by Dominion Diamonds, is estimated to contain total probable reserves of 109.6 Million carats and also produced a 186-carat gem quality diamond from one of its pits. Mark is a guy who knows a thing or two about world-class discoveries! Now turning to ADZ, we still don’t know how many targets there will be, but I expect upward of 20 when all the modelling is done. If Adamera is able to intersect significant gold values during its first drill campaign, the market will have to at least consider that many of Adamera’s prime exploration targets (aka “look-alikes”) will also host similar mineralization.  JUST IMAGINE THE UPWARD EFFECT ON THE ADZ SHARE-PRICE   SHOULD A SCENARIO SUCH AS THAT BEGIN TO UNFOLD FOR  ADAMERA. IF YOU TAKE INTO ACCOUNT THE HISTORICALLY  RICH GOLD GRADES OF THE AREA—IT’S NOT DIFFICULT TO  ENVISION THIS HAPPENING.ADZ COULD RISE EXPONENTIALLY AS  THE MARKET SCRAMBLES TO CALCULATE JUST HOW MUCH  GOLD COULD BE SITTING IN EACH OF THESE ANOMALIES UNDER  ADAMERA’S CONTROL! It’s called EXTRAPOLATION and when the market begins to extrapolate value — the stock price can go much higher than imagined!

Our Strategic Buy-Window on ADZ is Open—NOW!

In the junior resource sector, values are often rooted in speculation…and that could work out very well for foresighted investors who jump on ADZ now at the pre-drill stage. At the moment, the Adamera story is still percolating below the radar of the major financial institutions — and that is why we have this golden opportunity to climb onboard below the $0.25 per share level. I cannot envision a scenario where ADZ does not ratchet higher as the company maps out its initial drill campaign. That is happening now. More on that later— FOR NOW LET ME SAY THIS:  I believe that the brewing interest in the Adamera story leading up to drilling could easily provide early shareholders, such as you, with a near-term opportunity to sell part of your position at at least a double—thus enabling you to essentially ride the rest of your ADZ position risk-free. Naturally, Adamera’s management will be none too pleased with me telling you this, BUT…I want to make one thing abundantly clear: I work solely for my paid HRA subscribers—NOT the companies I follow. My Hard Rock Advisory newsletter is 100% subscriber supported; I do not accept money, stock, nor anything else in return for my exclusive company coverage. I have a stated mantra of always protecting partial gains on the way up, and our present opportunity with Adamera Minerals is no different. So now that you have the BIG PICTURE…let’s delve a little deeper into the Adamera story and take a closer look as to why I believe ADZ could be my biggest gold stock winner of 2017. ADAMERA MINERALS (ADZ) This Year’s Premier Momentum Drill Speculation When you look at the BIG DISCOVERIES over the last couple of decades – the ones that truly made headlines and fortunes for early stakeholders – they typically involve an intrepid exploration company willing to go off the beaten path with new ideas in search of large-scale exploration targets in virgin areas. Yet, the bottom line truth is that the vast majority of exploration work being done today is more akin to walking in the footsteps of past explorers by extending or upgrading resources that the market is already aware of. Of course, that’s all fine and well; shareholders are comforted by the fact there are past results they can point to, and many companies succeed looking in the shadows of a headframe especially with metals prices as strong as they are today. Why am I telling you this? Mark Kolebaba Lead Geologist & CEO Because Adamera Minerals (ADZ) is essentially the perfect hybrid of these two successful exploration approaches. The ADZ team started out looking for moderate sized high-grade gold deposits in a mining-friendly region nearby to known deposits. Yet, something unexpected and highly significant happened along the way. Company CEO and lead geologist Mark Kolebaba realized that the geologic model “everyone” had been using in the area for decades wasn’t quite fitting Adamera’s field data. So the ADZ team rethought things and came up with a new model that more properly aligns with what they’re seeing in the geology. This revelation is now having a profound positive impact on Adamera, early ADZ shareholders, and the entire Republic Mining District of NE Washington State. Here’s a quick breakdown: ADZ: Poised for Profits Ahead of the Drills Adamera Minerals (ADZ) is exploring for gold in mining-friendly NE Washington State—a region that has produced over 6 Million ounces of high-grade gold. Kinross’s 1.3 Million ounce Buckhorn mine is ceasing production in the very near-term. At a cash cost of only about US$500 per ounce, this is Kinross’s lowest-cost producing gold asset. Further, at around 12 grams/ton gold, Buckhorn is the 3rd highest-grade active gold mining operation in the entire United States. ADZ started out looking for “smallish” gold deposits to feed ore to the 2,000 ton per day Kinross mill, but in a pivotal event realized the geologic model (VMS “volcanogenic massive sulfide”) being applied to the area was flawed. The company’s new model – sediment hosted gold – mirrors deposits found in Nevada and China and vastly increases the potential discovery size while retaining the likelihood for deposit clustering. Adamera has now shifted focus from seeking Kinross mill feed to Big-Game hunting! Adamera spent the past year undertaking broad mapping and soil sampling as well as flying an airborne geophysical survey (VTEM) over the region—something never undertaken before. ADZ is now presenting shareholders with at least 10 impressive new targets (identified via the airborne study) and is also in the process of delineating and ranking secondary targets. Adamera’s primary targets are completely new and unexplored and most are as large or larger than the footprint of existing mines in the surrounding area. Targets show near-surface mineralization which should lend to cost efficient drilling. A Phase I drill program testing 5 to 10 targets will begin within the next 4 to 8 weeks; a planned Phase II program will test additional targets and/or follow up on successful drill intercepts from Phase I. Drill permits have been secured for several primary targets including one very large anomaly called Big Banana. ADZ is attracting increased market attention as a classic early-stage, high risk/high impact target exploration program that’s starting to generate anticipatory buying ahead of drilling.

Adamera titled many of its early presentations “Bringing New Ideas to an Old Frontier”…a fairly accurate tagline, but one that doesn’t quite capture the significant changes that have taken place over the last twenty-four months. The complete Adamera story is one of persistence, ingenuity, and courage in the face of a long bear market and difficult odds. As mentioned, the CEO and driving force behind Adamera is Mark Kolebaba, a geologist who specializes in project generation and acquisition. Mark has worked for several major mining companies throughout his career including BHP Billiton and Cominco and spent a number of years working in Canada’s far north. Those years were highly successful indeed! As noted, Mark is credited with the discovery of the world-class Hope Bay gold deposit in Nunavut, Canada, and was also integral to the discovery of the first large set of kimberlite pipes on the Ekati Diamond Mine—Canada’s first surface and underground diamond mine. Yale Simpson BASc, Director Adamera’s chairman, Yale Simpson, is equally accomplished and well-known to institutional investors. He leads Exeter Resource Corp. which is developing the Caspiche gold deposit in Chile (Exeter is currently being acquired by Goldcorp in an all-stock deal valued at $247 Million). Exeter’s spinout company, Extorre, developed the Cerro Morro gold deposit in Argentina until its takeover by Yamana in 2012 in a $400 Million transaction. Yale has an extensive rolodex of institutional buy side groups he can call on as Adamera commences Phase I drilling just a few weeks from now. And with a second successful takeover now under his belt, Simpson has more time to devote to Adamera.

HRA Journal provides you with in-depth analysis of the companies on our active coverage list along with insightful commentary on the metals and equities markets. As a recipient of this Special Situations report, please click the SUBSCRIBE button to access your exclusive savings. —Eric

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To get the full gist of Adamera Minerals as HRA’s top drill speculation of 2017, it’s imperative that you understand the progression of the project from its inception to where we stand today. Adamera entered NE Washington in 2012 picking up several land parcels with the potential to host various types of gold deposits [epithermal, skarn, and VMS] known to exist in the region. The company still owns some of those concessions. And while a couple of the epithermal targets appear promising, Mark and his team have chosen to focus primarily on targets that most closely resemble the known VMS gold deposits of the Cooke Mountain subregion situated 64 kilometers southeast of Kinross’s Buckhorn mine and in the vicinity of the Kettle River mill, which has tons of excess capacity. One ADZ target in particular, the Oversight Project, is just now beginning to divulge its below surface secrets and remains of great intrigue to management. The Cooke Mountain subregion hosts several recent past-producing gold deposits including Overlook, Key East, Key West, and Belcher. Area geologists have consistently pegged these deposits as VMS (volcanogenic massive sulfide), a type of deposit formed as mineral-laden fluids are ejected by seafloor volcanic vents (“black smokers”) with sulfides precipitating and falling to the sea floor around them. The details aren’t important other than knowing there are certain defining characteristics for VMS (or any other geological model for that matter) and that those characteristics help define the methods deployed in the search for additional ore bodies. Preliminary work and shallow drill testing by Adamera at the Oversight project generated some interesting gold results…yet even more confusion. You see, the continuous sequence of rock layers within the drill cores didn’t seem to match the accepted regional geologic picture very well. Over the succeeding couple of years, several theories were developed, tested, and discarded by ADZ. Adamera’s technical team simply could not get their field observations to jive with the generally accepted theory that the deposits were VMS in origin. Heightening the problem, there didn’t seem to be any volcanic rocks in the vicinity of the volcanogenic massive sulfide deposits. Very interesting! Now, I’m not a geologist; I just play one on TV ...so my aim is not to bore you with all the geological sleuthing that took place during that time. BUT, I have followed the Adamera story long enough to watch the underlying geological model change in real-time including having the reasons for the shift explained to me by Mark and other members of the Adamera technical team. And thus it holds enough significance to the overall ADZ story to bear repeating—whether you’re an armchair geologist or not! Adamera Minerals Corp. Stock Symbol: TSX.V ADZ OTC DDNFF 52 Week High-Low: $0.18-$0.015 Recent Price: $0.16 Market Cap: $15M 1 Mo Avg Daily Vol: 800,000 Phone: (604) 689-2010 Email: info@adamera.com Website: www.adamera.com ADAMERA MINERALS Exploring for high-grade gold deposits in northeastern Washington State

A New Theory Arises: Sediment Hosted Gold

In a nutshell – and Adamera has a significant amount of data and real world observations to back up their theory – the company believes the deposit model that fits the region is not skarn or VMS but sediment hosted gold. Specifically, ADZ believes the area gold deposits are related to an unconformity that formed as near surface limestones underwent erosion and dissolution (known as “karsting”) creating large open spaces and collapsed structures [think sinkholes and limestone caves at depth] that were then covered by much younger rocks, forming a cap. Then, circulating hot fluids – probably travelling up deep seated near-vertical faults – scavenged metals [particularly gold] from overlying rocks and deposited the sulfides and gold into the voids created by the karsting. Mark and his technical staff find this quite revealing and exciting as this geologic model closely resembles that of numerous high-grade Nevada gold deposits as well as a large gold camp in China. These sediment hosted gold deposits form as relatively flat lying, yet irregular zones wherein subsequent movement and faulting can change the orientation of the ore body. For example, the Overlook, Key East, Key West, and Belcher deposits of the aforementioned Cooke Mountain subregion are all relatively flat lying and hosted within sediments, while the Lamefoot deposit [located just a few km to the west] appears to have been turned on its side. Adamera’s interpretation of the new regional geologic model (left) and a cross-section of a known gold deposit of the Getang gold district in China (right), which is accepted as a Sediment Hosted Gold camp. The similarities are both striking and obvious. The position of most Cooke Mountain orebodies [near the bottom of a limestone unit directly above an unconformity with overlying clastic sediments] matches the general Sediment Hosted Gold model extremely well. Each of these deposits aligns neatly with Adamera’s sediment hosted gold model; the deposits also bear an uncanny resemblance to deposits of the Getang gold camp in China—a major sediment hosted gold system with deposit sizes up to 3 Million ounces Au. DEPOSIT CLUSTERING The Name of the Game for Adamera

After nearly five years of boots-on-the-ground exploration in the Republic Mining District, the Adamera team, led by Mark Kolebaba, is proving that their sediment hosted gold theory is in fact the geologic law of the land. This holds a number of positive implications for ADZ—none more important than the potential for gold deposit clustering. Remember, Adamera just increased its land holdings by over 1,000% to 22 sq km (and growing) in a preemptive strike to lock up ALL of the new anomalies as detected by its airborne magnetic survey. Drilling could soon prove that this is indeed a cluster of deposits—with Adamera controlling the entire lot! In my more than 20 years in the gold game, I’ve only seen a handful of exploration stocks with this level of upside potential at the pre-drill phase. I’ve invested in and recommended a vast number of premier drill speculations over the years – and my focus has always been on finding those select few, such as Adamera, that offer the proper risk/reward profile and narrative to generate market excitement and anticipatory buying ahead of the drills.  I HAVE NO DOUBT THAT THE BROADER RESOURCE MARKET WILL BE  WATCHING ADAMERA’S INITIAL DRILLING VERY CLOSELY. IF THE  COMPANY HITS SIGNIFICANT HIGH-GRADE GOLD INTERCEPTS ON AN  EARLY TARGET, IT COULD CREATE AN ABSOLUTE BUYING FRENZY  ON ADZ SHARES AS THE MARKET EXTRAPOLATES THE POSSIBILITY  OF ADAMERA POTENTIALLY SITTING ON MULTIPLE ECONOMICALLY  VIABLE GOLD TARGETS! I’m not a huge fan of the term no-brainer, BUT establishing an early, strategic position in Adamera Minerals (ADZ), then trading smart, is about as close to a no-brainer as I’ve seen in the junior resource market. Translation:  Jump on ADZ now up to $0.25 or risk kicking yourself later for missing out! Remember, our strategy will be to sell partial positions during the anticipated pre-drill phase share-price run. Then ideally, you’ll be holding the remainder of your ADZ position essentially risk-free—putting you in the prime profit-position ahead of drilling. ONE: Drill permits are already in place, TWO: Phase I drilling is slated to begin within the next 4 to 8 weeks, THREE: This has “fast-mover” written all over it! MASSIVE HIGH-GRADE GOLD DEPOSITS Up to 3.4 Million Ounces Now that Adamera has all but proven its new sediment hosted gold model – the next exciting question is: How much gold can a sediment-hosted deposit hold? In addition to the potential for deposit clustering [based on the model and revealed by the company’s airborne survey data], there is strong evidence to suggest bonanza gold deposit sizes. We already know that Kinross’s flagship Buckhorn mine has produced over 1.3 Million ounces of high-grade gold. We’ve also seen sediment hosted gold deposits in China as large as 3 Million ounces – and several deposits of this type in Nevada that are even larger; Newmont’s 3.4 Million ounce Long Canyon deposit immediately comes to mind. Proper Drill Site Delineation Will Be Key With permitting now in-place for some targets, and Phase I drilling slated to commence within the next 4 to 8 weeks, Adamera will be expertly deploying all of its recently generated geological data to get the drills pointed in the right direction. The sediment hosted gold deposits of the Republic Mining District are typically flat lying and can often be “blind” (completely subsurface); this is where the application of the company’s VTEM, geochemistry, pH and other methodologies can be amalgamated to zero-in on high-grade intercepts at depth. I have no doubt that Mark and his technical staff are more than up for the task at hand—I mean no one knows the geology of the Republic Mining District better than Mark Kolebaba! Also bear in mind that the first few years of Adamera’s property staking and exploration work in the district took place under the backdrop of a horrendous resource bear market. During that rough stretch, it was virtually impossible to raise money for early stage exploration and new ideas. Yet, thanks to the ingenuity and determination of management, Adamera was able to successfully navigate the bear market through fiscally responsible governance—acquiring a number of key property positions, expanding exploration activities, carrying out groundbreaking – yet inexpensive – surveys, and creating a new geologic model of the district. Hence, when the market finally turned bullish early last year, Adamera was perfectly positioned to hit the ground running. And that’s just one more reason why ADZ has risen to the top of the HRA list as this year’s premier momentum drill speculation. Adamera Minerals Corp. Stock Symbol: TSX.V ADZ OTC DDNFF 52 Week High-Low: $0.18-$0.015 Recent Price: $0.16 Market Cap: $15M 1 Mo Avg Daily Vol: 800,000 Phone: (604) 689-2010 Email: info@adamera.com Website: www.adamera.com ADAMERA MINERALS Exploring for high-grade gold deposits in northeastern Washington State Intensive Geologic Mapping Leads to Precision Drilling Proving up a new geologic model for an area rich in past and current gold production is not an easy endeavor. Adamera knew it would need to create a brand new comprehensive set of regional geologic maps requiring a steadfast campaign of boots on the ground. Today, the company is well into the broadest geological mapping and structural interpretation campaign, I’m aware of, in the Republic Mining District’s 100+ year history of successful high-grade gold production. Adamera’s mapping continues to highlight important structures that may prove to be conduits for mineralization or at least intimately associated with it. These efforts have greatly expanded the size and scope of areas considered favorable to gold deposition—and Adamera has been quick to expand its property holdings in concert with the rapid flow of information. And as noted earlier, ADZ has increased its claims holdings by over 1,000% in recent months to over 22 sq km; we can reasonably expect even more property acquisitions in the coming quarters as the company interprets incoming exploration and survey data. END OF THE BEAR… Signals the Bull for Adamera

With the long bear market now in the proverbial rearview, Adamera has been taking full advantage of substantially improved market conditions—raising $1 million in mid-2016. Management’s frugality, along with the exercise of warrants held by happy current shareholders, means that – after a year of intensive work – ADZ STILL has over $1 Million to work with! I foresee ADZ having little to no difficulty raising additional capital in 2017 for its upcoming Phase I and II drill programs. In-house sample preparation has allowed Adamera to complete soil pH tests on most of the 5,000+ soil samples it has gathered thus far. Geochemists have shown that carefully managed soil pH testing can be a sound targeting tool for locating below surface sulfide accumulations that oftentimes accompany gold and other metals of value. And true to that premise, the Adamera team has indicated that both its soil geochemistry and pH testing protocols are proving successful at highlighting new high-grade gold targets. As discussed earlier, Adamera capped off its expansive mapping and sampling campaign by flying an airborne VTEM and magnetometer survey in late-2016 covering both the Cooke Mountain subregion and associated mineralized trends. What amazes me most about this airborne survey is the fact that no one had ever flown VTEM in this prolific gold production zone before. We’re talking about a large, North American mining-friendly region with past production of 6 Million high-grade gold ounces—and to think that no one [not even Kinross nor Hecla] ever thought to fly airborne? That truly astounds me! The map on the left illustrates Adamera’s systematic approach to discovery success. The company’s VTEM survey areas are outlined in yellow. That survey revealed numerous large-scale anomalies which were then secured via ADZ’s massive, yet stealth ground staking operation. Permits have been secured for several primary targets with drilling slated to commence within the next 4 to 8 weeks.

HRA Journal provides you with in-depth analysis of the companies on our active coverage list along with insightful commentary on the metals and equities markets. As a recipient of this Special Situations report, please click the SUBSCRIBE button to access your exclusive savings. —Eric

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New Targets as Phase I Drilling Draws Near In just the last several weeks, Adamera has unveiled 8 new drill targets, all of which are VTEM anomalies with most having a combination of soil geochemistry, magnetic intensity, pH, and/or a relationship to important regional geologic structures as back up. It should further be noted that Adamera flew its airborne survey toward the end of its 2016 exploration and mapping campaign, after most other field work had been completed. That means not every anomaly is situated within an area where grid soil sampling or detailed mapping took place. While some of the anomalies may be followed up with ground proofing, management seems intent that most of the primary targets are more than strong enough to justify a drill test without the need for additional survey data. Mark and his technical team estimate that Adamera will have 10+ high priority drill targets upon completion of the current modelling round. These are the most “obvious” targets based on VTEM readings. The company anticipates having an equal or greater number of secondary targets; some of these have lower conductivity or are based on geochemistry and/or structural targets alone. They may require additional ground proofing but should not necessarily be construed as being “weaker” targets. The mined deposits of the Cooke Mountain subregion display a wide range of conductivity readings depending on geometry, depth from surface, and the composition of sulfides occurring near gold zones. Hence, Adamera’s secondary targets may prove just as exciting as its primary targets. Adamera Minerals Corp. Stock Symbol: TSX.V ADZ OTC DDNFF 52 Week High-Low: $0.18-$0.015 Recent Price: $0.16 Market Cap: $15M 1 Mo Avg Daily Vol: 800,000 Phone: (604) 689-2010 Email: info@adamera.com Website: www.adamera.com ADAMERA MINERALS Exploring for high-grade gold deposits in northeastern Washington State

One Example: The “Big Banana” As noted earlier, Adamera has so far revealed 8 high quality targets. I want to take a moment to look at one cluster of two targets that ADZ management calls “Big Banana.” Kind of a silly name to be sure…but the reason for it is obvious when you look at the graphic below. Big Banana was the newest target area revealed by ADZ around the time of the completion of this Special Situations report. I think it’s one of the most interesting areas so far for a number of significant reasons: • The targets are large and brand new • Adamera’s work has refined and redefined the understanding of the local geology and structures • The targets are defined by several different layers of data generated by ADZ’s work during the past year • The target area displays numerous important characteristics associated with the sediment hosted gold model Let’s take a closer look at Big Banana: The graphic displays several layers of data, all generated by ADZ. The colored background comes from airborne VTEM survey conductivity data. It shows a two-kilometer-long curved conductivity high (hence the “Big Banana” moniker) composed of two lobes of still higher readings. The thick black lines are the apex of the modelled anomalies which peak very close to, but below, surface. Overlain on the VTEM anomalies are a series of copper in soil, silver in soil, and arsenic in soil anomalies. These are derived from ADZ’s in-house soil XRF analysis. Why would we care about copper in a gold exploration program? For one thing, the anomalies have good scale, especially the lower one which is roughly 800 by 200 meters. That makes it interesting on its own. The Republic Camp isn’t known for copper production, but copper was an important indicator at Cooke Mountain. The Key West and Key East deposits were originally referred to as the “Copper Keys” due to the presence of the red metal. Arsenic is a common pathfinder metal for gold deposits everywhere, so it’s less surprising. Also present over the Big Banana project area are pH anomalies that closely match the results expected when buried massive sulfides are present. Remember, all of this came out of Adamera’s soil and airborne surveys. No target existed at this location prior to ADZ’s work. Here’s where it gets really interesting! It turns out that Big Banana is located just two kilometers from the former Lamefoot gold mine. And because Big Banana was not revealed as a primary target until after ADZ’s soil and airborne surveys, Mark and his team still have not had an opportunity to perform a detailed mapping of the target area. Yet – as you can imagine based on the VTEM – as soon as the snow melted, they were all over it! Mapping was only partially complete as this report was being finalized. What did they find? Well, for one thing, it turns out that the area directly above the southern anomaly is not comprised of the volcanic rocks as shown on the government geology maps. It’s limestone, and not just any limestone! Adamera’s field team was shocked and delighted to discover altered and brecciated limestone with iron staining, overlain by clastic rocks—precisely the sort of rocks the sediment hosted gold model predicts should overlie a potential deposit area. Adamera was able to measure the dip of some of the limestone beds and found they are dipping at 55 degrees to the west. That’s the same dip modelled for the subsurface conductive “plates” that make up the VTEM anomaly. To top it off, it appears that the two lobes are separated by a fault that is believed to be an extension of the prolific Anfo Fault. This structure cuts through the Lamefoot deposit and may be a conduit for the hydrothermal fluids that created it. Did I mention that Adamera really wants to drill test Big Banana? Adamera recognizes that the best pathfinder metal for gold is gold. Most of the thousands of soil samples taken by ADZ have been submitted to a third-party lab for gold testing. While low gold values wouldn’t invalidate the targets, a set of strong results would certainly strengthen them. Those lab results are imminent for Big Banana and several other target areas. While Big Banana is only one target of many – and may not even be the top priority once target ranking is completed – it serves as an excellent example of the quality science ADZ is deploying in its gold discovery efforts.

Martin St. Pierre B.Sc., Geophysics Independent Geophysical Consultant I’ve had numerous discussions with Adamera’s management as well as the company’s independent geophysical consultant, Martin St. Pierre, who is tasked with the job of modelling the electromagnetic data. As it happens, I’ve known Martin for 30 years, and I have the utmost respect for his unbiased geophysical acumen. What I like most about Martin is that he’s not a guy who’s going to tell you you’ve got great survey results just to make you feel good. He’s more than happy to dump all over your data if he’s not impressed. According to Mark Kolebaba, Martin has expressed to him that he has never seen so many high-potential targets on a per kilometer basis. Henceforth, the fact that Martin is impressed with what he’s seeing with Adamera’s new geological model and emerging survey data gives me even greater confidence in my Strong-Buy signal on ADZ to my Hard Rock Analyst subscribers.

HRA Journal provides you with in-depth analysis of the companies on our active coverage list along with insightful commentary on the metals and equities markets. As a recipient of this Special Situations report, please click the SUBSCRIBE button to access your exclusive savings. —Eric

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Drilling at the Oversight Project in 2014 with a small “Winkie” drill—one of numerous cost-saving steps taken by ADZ during the recent bear market. Adamera’s upcoming drill program will be completed via a full-sized diamond drilling rig which is far superior and produces a significantly larger core. I expect ADZ to drill up to 10 separate targets during the upcoming program. The mining sector is in desperate need for new, large-scale discoveries. Everyone knows this to be true, yet surprisingly, only a small percentage of exploration companies are actively involved in this sort of big game hunting. That means even more eyeballs will be on Adamera as the drills are mobilized to its first set of primary gold targets just a few weeks from today. High risk/reward drill speculations aren’t for everyone. In fact, they’re among the riskiest of exploration stocks. Yet, those select few companies that are able to present investors with a set of well thought out targets with ample size and potential can attract powerful waves of buying as drilling approaches. Anticipatory buying can result in substantial increases in market value even before the drills start turning as traders position themselves for possible success. Adamera fits this trading scenario to a “T.”

So, where do we stand right now? After five-plus years of field work and intellectual vigor on the ground in the Republic Mining District of NE Washington State, Adamera Minerals is gaining a ton of momentum with a minimum of 10 strong drill targets along with an even larger number of secondary targets being worked up. The targets display the characteristics of sediment hosted gold deposits and match the geophysical and geochemical responses of known gold deposits in the region. Adamera’s new regional geologic model allows for larger gold deposits than what’s been discovered thus far in the area. That includes Kinross’s 1.3 Million ounce Buckhorn mine, which, as mentioned, at about 12 g/t gold, is considered the 3rd highest-grade active gold mining operation in the United States. In short, ADZ is a very strong looking drill speculation! A Palpable Market Buzz Surrounds Adamera I’ve been closely following Adamera for the last three years...and I haven’t just been relying on my own interpretations of the company’s groundbreaking data. At recent industry conferences I’ve attended, I’ve gotten into the habit of asking my technically sophisticated friends to visit the Adamera booth to view the company’s new targets and sediment hosted gold geological model. Without exception, the response has been overwhelmingly positive. Adamera Minerals Corp. Stock Symbol: TSX.V ADZ OTC DDNFF 52 Week High-Low: $0.18-$0.015 Recent Price: $0.16 Market Cap: $15M 1 Mo Avg Daily Vol: 800,000 Phone: (604) 689-2010 Email: info@adamera.com Website: www.adamera.com ADAMERA MINERALS Exploring for high-grade gold deposits in northeastern Washington State

Of course, just because a bunch of respected geologists are impressed with the targets doesn’t necessarily guarantee success – but it does support the palpable and growing buzz surrounding Adamera. At this year’s PDAC (Prospectors and Developers Association of Canada) conference in Toronto – the world’s largest gathering of mining industry professionals – I was asked about ADZ more than any other company. I also received far more unsolicited favorable comments on Adamera than on any of the other hundreds of attending companies. No doubt, this market is enamored with Adamera’s prospects for a game-changing gold discovery—and quite possibly multiple large-scale gold discoveries.  THE DRILLS WILL SOON TELL THE STORY. IF ADAMERA IS  SUCCESSFUL IN PHASE I — THE MARKET’S REACTION COULD  GENERATE AN UPWARD ADZ SHARE-PRICE RUN FAR EXCEEDING  ANYTHING ANY OF US ARE PRESENTLY ANTICIPATING. My recommendation is that you start picking up ADZ shares now at the $0.15 to $0.25 per share range.

In the resource investment game, there’s nothing more exciting than being an early adopter in a company that could potentially be the talk of the market—water-cooler bragging rights so to speak! ADZ is one such opportunity. In an ideal trading situation, you can effectively manage your cost per share basis down to zero. One way to do this is to sell half your position at the first doubling of the share-price. Again, this is the ideal situation and it enables you to have a very low-cost bet, or even a zero-cost bet, on a drill program that can potentially generate 10x returns or higher if successful. For the record, I own over a million shares of Adamera, all bought in the market or in past private placements. I just exercised 12 cent warrants to help fund the upcoming drill program. I still own other warrants, and management knows it can call on me if it needs them exercised. Does that mean I’m married to the stock and will never sell a share? No. I plan to follow my own advice although I don’t feel any time pressure to do so and probably won’t literally zero out my costs. I don’t plan to take profits unless the share price is significantly higher and only plan to sell a small amount. You should, nevertheless, plan on making your own decisions regarding trading based on your own risk tolerance, not mine. The two companies I mentioned from last year? Well, one had a moderately successful drill program; the other did not. The first is trading about 200% above where it started its run last year; the other is back where it started. Both companies will still be very active in 2017 and their stories are far from over. Both offered the opportunity for traders to zero-out their costs before drill results arrived and traded at a multiple of their “pre-momentum” price for months. One still does. Adamera Minerals (ADZ) looks like it will be one of this year’s premier momentum drill speculations for all the good reasons cited above. You can already see trading volumes increasing and a broadening of its audience. The bid side of its market is strengthening, and the amount of stock being offered is decreasing. Based on that trading pattern, ADZ could break out at any moment! Make sure you own ADZ ahead of the drills. Sincerely, Eric Coffin, editor Hard Rock Analyst Subscribe to HRA Journal Now & Save