BUCKHORN 2.0 PROJECT

The Buckhorn 2.0 project is 100% owned by Adamera. The project area located in Northeast Washington state covers 9100 acres (36 square km) and extends more then 10 km to the Canadian-USA border, along the western margin of the Torada Graben. Buckhorn 2.0 surrounds the Crown/Kinross patented claims on which the past producing Buckhorn Mine is situated.

The Buckhorn Mine (formerly named Crown Jewel) was discovered by Crown Resources Corp in 1988. Approximately 1.3 million ounces of gold at an average grade of about 12 g/t gold was produced from Buckhorn between 2008 and 2017 by Kinross Gold Corp who merged with Crown Resources Corp in 2003.

Adamera's strategy is to aquire land around past producing mines. This area is highly prospective and underexplored due to past companies focused heavily on production. The area has seen very little drilling outside of the deposit.

In mid June 2020 the company began prospecting and geological mapping on the new Buckhorn 2.0 claims. This work identified several prospects including the Magnetic Mine for follow up exploration. Late in 2020, historic drill data from within the Buckhorn 2.0 claim block highlighted a drill intercept with 9 g/t gold over 7.5 metres. According to Adamera’s 2020 geological mapping, the drill intercept is located 1.5 kilometres south of Kinross’ Buckhorn Mine and within the same geological block. Adamera has prepared two separate Plan of Operations on the claim block for anticipated drilling in 2021.

Historic Data

For some time Adamera has been collating information on the Buckhorn mine area to ascertain how much exploration had been conducted outside of the immediate mine area. Based on historical information it appears that Kinross had developed more than 100 targets on the claim block that were not drill tested. Furthermore, they had applied for permits to drill 950 holes from 675 drill pads and construct 120 kms of road to access the drill pads. The size and complexity of process stalled timely progress and the company subsequently dropped the bulk of the original land package to focus entirely on the mine site. The regional potential was determined by Adamera to be highly prospective and largely untested by drilling.

In early June, the State of Washington reduced COVID-19 restrictions, allowing Adamera to assemble a staking crew. On June 8, 2020, the Company announced that it had entered into a private agreement to lease 38 claims on Buckhorn Mountain. This transaction was followed by a large staking campaign, the Buckhorn 2.0 project.

A total of 339 claims were staked over three weeks in June to surround the Crown Resources/Kinross patented claims on which the Buckhorn Mine is situated. With the addition of state leases, the Buckhorn 2.0 project now comprises 9100 acres of federal and state land. The property staked by Adamera covers much of the lands that originally constituted the Buckhorn project.