Adroit Resources Inc.

Adroit Resources Inc.

August 16, 2012 15:56 ET

Adroit Resources Corporate Update-Appointments

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 16, 2012) - Adroit Resources Inc. (TSX VENTURE:ADT)(FRANKFURT:A7V)(BERLIN:A7V) -

Management is pleased to report that Adroit has appointed Eternus Capital Consultancy Private Limited (Eternus) of New Delhi to act as corporate adviser to the Company, effect under a mandate dated August 12, 2012, for a duration of 180 days, to raise up to C$3,000,000 for Adroit's exploration projects and general corporate purposes. Adroit has agreed to pay a success fee of 8% of funds raised for Adroit by Eternus in cash and/or in shares plus pay a contribution to Eternus' due diligence expenses against vouchers of up to CS5,000 provided Eternus raises a minimum of C$750,000 for Adroit.

Eternus plans to visit Adroit's Italian project and management in Belgium as part of their due diligence process.

Provided Eternus raises a minimum of C$2,000,000 within the duration of their 180 day mandate, Adroit will grant to Eternus a 30 day exclusivity period for each round of fund raising undertaken by Adroit with 24 months of the signing of the mandate up to a total of C$20,000,000.

Eternus will be entitled to an 8% success fee if any introduction by Eturnus invests in Adroit within a 24 month period of the termination of the mandate and if any introduction re-invests within a 36 month period commencing from the date of the first definitive investment agreement.

All funding arranged by Eternus for Adroit, and payment of the related success fee, will be subject to acceptance of required filings by the TSX Venture Exchange (TSXV).

The mandate is non-exclusive from all jurisdictions other than India for the 180 day mandate period and non-exclusive thereafter.

Eternus is a leading independent investment bank in India owned by its managing director, Mr. Rohit Kakkar. Eternus is focused on providing financial advice on mergers and acquisitions and fund raising to corporations in the sectors of metals and mining, oil and gas and the entire spectrum of the energy industry.

Mr. Rohit Kakkar is the founder of Eternus. He is a veteran in the mining and resource space and in his capacity he promotes Indo-African investments. He is in charge of formulating group strategies and exploring new geographies to increase Eternus' footprint across different market segments and expand its bouquet of offerings. Under his leadership, Eternus has dramatically scaled up its operations maintaining a culture of strong innovation. Mr. Rohit Kakkar has an MBA from Narsee Monjee Institute of Management Studies, India.

Appointment Termination: The agreement with Meadowbank Asset Management Inc. to provide investor relations services to Adroit was terminated on July 31, 2012 by mutual agreement and the 500,000 common share options, exercisable at a price of $0.10 per common share, granted under the terms of the agreement, have been cancelled. Adroit's August 2, 2011 news release refers.

Adroit Resources Inc. is a mineral exploration company that is currently exploring for antimony, gold and silver in Central Italy and precious and base metals in the Timmins South/Shining Tree/Temagami/Cobalt and Bancroft areas of Ontario, Canada. The Company currently has 154,703,209 shares issued and outstanding.

On behalf of the Board of Directors,

Graeme Rowland Chairman and President

Neither the 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.

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