Adamas Resources - Private Placement Financing, Investor Relations Agreement, Officer & Director Stock Options.

VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 13, 1997--Adamas Resources Corp. (VSE:AMS) Adamas Resources Corp. ("the Company") announces that it has negotiated a Private Placement for 600,000 units at a price of $0.30 per unit ("the Placement"). Each unit of the Placement will be comprised of one common share and one non- transferable, two-year purchase warrant, exercisable at a price of $0.30 per share in the first year and $0.35 per share in the second year.

Upon closing, the Placement will net the Company $180,000; of this amount, $60,000 will be allocated to general corporate working capital $40,000 will be reserved for asset acquisition investigations, and the balance of $80,000 will be used for reducing outstanding liabilities.

A Finder's Fee of 60,000 common shares of the Company (subject to a one year hold period) is payable in regards to the Placement.

The Company further announces that, effective January 1, 1997, it has entered into an Investor Relations contract with Dearden & Associates, the principal of which is Michael Dearden.

The term of the contract is for three (3) months and is terminable upon thirty (30) days notice to the other party. The Company has agreed to pay a total of $5,000 per month for the three month term.

Lastly, the Company also announces that it has granted, subject to regulatory approval, 180,000 incentive stock options exercisable for a period of two years at a price of $0.33 per share.

The Company's trading symbol is AMS - V.

ON BEHALF OF THE BOARD

Stephen B. Doppler, President -0-

Note to Editors: The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

CONTACT: Adamas Resources Corp.

Investor Relations Department, 604/685-2248

604/685-5509 (fax)

800/686-6220