Adroit Resources Inc.

Adroit Resources Inc.

November 10, 2008 18:43 ET

Adroit Resources Inc.: Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 10, 2008) - Adroit Resources Inc. (TSX VENTURE:ADT)(FRANKFURT:A7V)(BERLIN:A7V) -

Management provides the following update on the company's business:

German Financing Progress. Management has agreed (further to its October 6, 2008 news release) with Treuinvest Treuhand Investitions GmbH (Treuinvest) that it would not be prudent to issue a prospectus in the current market conditions. The recent decline in the price of oil and the condition of financial markets in general make the proposed Treuinvest prospectus featuring Adroit's oil and gas sector expansion less likely to be successful. It has been determined that a Treuinvest prospectus will not be submitted to BaFin, the German Federal Financial Supervisory Authority, until market conditions improve and management and Treuinvest jointly determine that a financing has a good chance of being successful. Despite the best efforts of Management, there is no assurance that such a financing can be completed as planned.

Issuing House. As reported in the Company's October 6, news release, Treuinvest Fonds GmbH (Fonds) in which Adroit holds a 45% stake, launched the first prospectus for 'nextGen GamesFund 1' (Games), in late September 2008 with a target gross raise of up to Euro 8 million. While Games continues to receive subscriptions, the rate of receipt is below the rate that would fulfill normal market expectations.

Delayed Private Placement Subscriptions. As reported in the October 29, 2008 news release, a total of $1,000,000 had not been received by the Company. Management has issued demand notices for the payment of these funds by no later than November 14, 2008.

Expropriation Claim. As reported in the February 27, 2008 news release, the compensation trial date had been set to commence on January 12, 2009. The deadline for exchange of documents between the parties is set for November 12, 2008 and management is confident that it will meet this deadline. The two month period between this deadline and the commencement of the trial will require intensive work by management and Holmes & King, Adroit's counsel, preparing for the trial.

The trial is to determine the quantum of compensation to be paid by the Provincial Government of British Columbia to Adroit.

Expropriation Claim Background: In July 1995, the Provincial Government of British Columbia, Canada expropriated the "Amber" mineral claims from the Company for the creation of a provincial park. The Company subsequently sought compensation for such expropriation through the courts. On June 5, 2003, the Company received a four to one judgment in its favour from the British Columbia Court of Appeal. The Court of Appeal held the Province liable, but left the amount of compensation payable to the Company to be determined. The British Columbia Government subsequently applied to the Supreme Court of Canada to have the Court of Appeal's ruling overturned. The Supreme Court of Canada dismissed the Government's application on April 8, 2004.

The Company subsequently commenced negotiations with the B.C. Government for a monetary settlement, but has not to date received an acceptable offer from the Government. Accordingly, the Company applied to the Court for a determination of the quantum of damages suffered by it.

Resignation. Mr. Richard Williams has resigned from Adroit's board of directors, reducing the board from five to four directors. Adroit will continue to have the assistance of Mr. Williams through Blackwell Investor Relations.

President's Comments. Graeme Rowland, President, said; "I am confident that we shall bring Adroit successfully through these difficult times in the world financial market."

Adroit Resources is a mineral exploration company that is currently exploring for Gold, Silver and Antimony in Central Italy and diamonds, precious and base metals in the Temagami/Cobalt and Bancroft areas of Ontario, Canada and oil and gas in Texas, USA. In addition, Adroit is seeking new precious and base metal projects and oil and gas prospects to add to its expanding portfolio. The Company's issued and outstanding share capital is 45,256,537 common shares.

On behalf of the Board of Directors:

Graeme Rowland, Chairman and President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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