Redback- the next KCN?, page-6

re: RBK and ADU- the next KCN? ADU – one to watch
27 million shares
13 million options
No debt
2 million cash

Quarterly report ending September 2002
Highlights

All shareholder meeting resolutions passed unanimously completing the
acquisition of the highly prospective Salman Gold Project located in Ghana,
West Africa.
Commencement of a comprehensive exploration program at Salman aimed at
assessing the initial resource potential of the project. Previous exploration
identified gold mineralization up to 350 metres in width and extending over
4,000 metres along strike, with follow up RC drilling completed by BHP
intersecting substantial zones of gold mineralization including:

73m @ 2.8g/t gold from surface (Including 21m @ 8g/t gold)
42m @ 3.2g/t gold from surface
85m @ 2.2g/t gold from 20m

Striker Resources completes bulk sampling and announces high grade diamond
results from its Seppelt 2 kimberlite located less than 400 metres along
strike from the Bollinger kimberlite.
Final target generation completed for the Nabberu diamond project with
drilling due to commence in November 2002.
INTRODUCTION
Activity within the September Quarter centered on formalizing the acquisition of the Salman
Gold Project and preparing for the up and coming RC drill program. The Company’s General
Meeting held on the 13 of August saw shareholders unanimously pass all resolutions,
resulting in Adamus acquiring 90% of the Salman Gold Project. The September quarter also
saw drill targets finalized at the Nabberu diamond project and the commencement of a full
assessment of the impact on the Company’s Bollinger project, following Striker Resources
announcement o f a high grade discovery at its Seppelt 2 kimberlite pipe.
The Company’s technical team commenced exploration at Salman in mid September with
regional soil sampling, infill Mobile Metal Ion sampling and geological mapping.
Logistical preparations are currently being completed for the RC drilling program which is
anticipated to commence in the fourth quartet of 2002. The focus for exploration will be to
unlock the initial resource potential of the project through infill drilling of the existing zones
of mineralization.


ADAMUS RESOURCES LIMITED Quarterly Report-September 2002
The recent announcement by Striker Resources regarding the results of their bulk sampling
program at Seppelt 2 has had a major impact on our neighboring Bollinger project (fig 1).
Striker Resources announcement detailed a diamond grade of 2.25 carats per tonne taken
from a bulk sample o f the Seppelt 2 pipe, which is located less than 400m along strike from
the kimberlitic zone Adamus recently identified at Bollinger. Strikers result has highlighted
the potential for kimberlitic bodies in the immediate Bollinger area to carry world class
diamond grades.
The September quarter also saw Adamus launch a new and comprehensive website that
details all aspects of the Company’s projects as well as investor and corporate information.
The Company invites all shareholders and interested parties to monitor the Company’s
activities at www.adamusresources.com.au. The website also contains an enquiry section
inviting interested parties to forward their e-mail addresses, allowing future announcements
to be communicated efficiently.
PROJECT REVIEW
Salman Gold Project
The Salman Project is located in southern Ghana, West Africa , approximately 300km west of
Ghana’s capital city of Accra. The project consists of a number of tenements covering a total
area of 84 square kilometres accessible via 50km of all weather roads from the port city of
Takoradi. Adamus owns 90% of the Salman Project with the remaining 10% controlled by
the Ghanaian government.
The Salman Project is situated on the southern extension of the Ashanti Gold Belt, which is
host to over of 60 M a of gold. The tenements themselves lie just 40km south of the world
class deposits of Bogosu (3.3Moz) and Prestea (10.7Moz). Previous exploration at Salman
involving a number of surface geochemical sampling programs identified a zone of robust
gold mineralization up to 350 metres in width and extending over 4,000 metres along strike.
Follow up trenching within the anomaly produced substantial intersections including lOOm
@ 6.lg/t gold. Subsequent RC drilling by BHP on broad spaced lines (300-500 metres apart)
intersected substantial zones of gold mineralization including:
SRC 17 73m @ 2.8g/t gold from surface( Including 21m @ 8g/t gold)
SRC 18 42m @ 3.2gIt gold from surface
SRC 82 85m @ 2.2g/t gold h m 20m
The width and grade of mineralization and its positioning close to surface suggests that the
project possesses the necessary criteria for hosting a significant and potentially economic
gold resource.
The September quarter saw the Company formally acquire the Salman project and commence
a series of exploration programs including logistical preparation for the up and coming RC
drilling program Exploration initially involved infill MM1 sampling over the central and
southern zones designed to further delineate RC drill targets. A program of regional soil
sampling targeting parallel structures to the east of the main zone as well as extensions to the
north of the main zone was also initiated within the quarter. Results Boom both geochemical
programs are expected early in the fourth quarter. Detailed geological mapping over the main
trend of mineralization has also been completed.

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ADAMUS RESOURCES LIMITED Quarterly Report - September 2002
The RC program consists O f 4000 metres of drilling designed to infill the existing drill lines
which at present are spaced up to 500 metres apart. The drilling will focus on delineating
mineralization in the Lop 60 metres, as this broadly represents the oxide zone, The program
has been scheduled for the middle of the fourth quarter with initial results expected at the end
of the quarter.
Bollinger Project
The Bollinger Project is located 200km north-west of Kununma in the Kimberley region of
Western Australia. The tenements consist of granted prospecting licences covering an area of
approximately 20 square kilometres and are 100% controlled by Adamus.
The Bollinger Project is situated, on the southern extension of the Seppelt Fracture Zone, a
10 kilometre long lineament that hosts a number o f diamondiferous kimberlites, and
drill testing by Adamus of the Seppelt Fracture Zone within the northern part o f P80/1360
numerous untested indicator mineral and geophysical anomalies. Previous reconnaissance
and P80/1361 led to the identification of a kimberlitic fissure zone >500rn long, referred to BS
Bollinger 1. Although a bulk sample has never been taken from Bollinger 1 the presence of
diamonds in soil samples and indicator mineral (chromite) chemistry indicates that it is
highly prospective for diamonds.
Recently Striker Resources announced a grade of 2.25 carats per tonne obtained from the
bulk sampling of the Seppelt 2 h b e r l i t e pipe, This result has highlighted the high grade
potential of kimberlite pipes within the Seppelt Fracture Zone. As the high grade discovery
is located only a few hundred metres along strike from Bollinger (fig 1) the result has a
substantial impact on the prospectively of Bollinger kimberlite. Should Striker Resources
ultimately define an economic resource at Seppelt 2 the potential impact on the Bollinger
project is extremely significant.
Nabberu Project
The Nabbem Project is located in the Eastern Nabbem Basin of Western Australia
approximately 920 kilorne@es north-east o f Perth. Thc combined tenement area covers
approximately 1,440 square kilometres.
Exploration completed by previous companies identified B number of diamondiferous
lamprophyres. Bulk sampling of these bodies produced commercial size, gem quality
diamonds, but to date a commercial grade has not bccn achieved. The exploration gound
surrounding the existing diamondiferous lamprophyes remains largely unexplorcd with a
number of priority targets still to be tested.

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ADAMWS RESOURCES LIMITED Quarterly Report - September 2002
Following the identification of a number of magnetic anomalies considered prospective for
diamondiferous lamprophyres the Company selected several priority targets for follow up
exploration. The targets are generally in close proximity to, or structurally associated with,
the existing diamondiferous Jewill pipes. An aircore drilling program has been designed to
test these targets for the presence of diamondiferous lamprophyes. The Company anticipates
commencing the drill program in the fourth quarter with results made available at the earliest opportunity.


Plenty here to arouse interest, tha