PRESS RELEASE: LMWG CALLS ON AG TO PROSECUTE ADAMUS RESOURCES OFFICIALS OVER GH¢377M STATE DEBT, US$224M SUSPICIOUS TRANSFERS

Lands and Mines Watch Ghana (LMWG) renews its call on the Attorney-General

and Minister for Justice to, as a matter of urgency, direct and commence criminal

proceedings against Adamus Resources Limited and all persons found culpable

in the conduct that led to the revocation of its mining leases, with the Minerals

Commission and relevant state investigative bodies providing full evidential and

investigative support to that process.

This renewed call follows the government's decision to uphold the revocation of

the Akango, Salman and Nkroful mining leases, after an Inter-Ministerial

Committee's independent review of the company's petition confirmed the

seriousness of the breaches originally identified by the Minerals Commission's

Inspectorate Division.

The Committee's findings, now public, reveal the scale of what is owed to the

Ghanaian state:

• US$2.56 million in unpaid mineral rights fees

• GH¢86.8 million in unpaid royalties

• GH¢290.5 million in tax arrears

• A combined domestic fiscal shortfall of approximately GH¢377 million

Beyond these arrears, the review uncovered unexplained discrepancies in the

company's gold export records and established that US$224 million was

transferred to related parties outside Ghana between 2020 and 2024, a figure

LMWG considers demands independent forensic and criminal scrutiny in its own

right, separate from the outstanding statutory debts.LMWG maintains that the administrative sanction of lease revocation, while

necessary, is not a substitute for accountability. The scale of the financial loss to

the state, compounded by findings of unauthorised subleasing to foreign

nationals, mining outside permitted areas, and a failure to secure required

environmental and forestry approvals, points to conduct that goes beyond

regulatory breach and into the realm of criminal liability under the Minerals and

Mining Act, 2006 (Act 703).

LMWG therefore calls on:

1. The Attorney-General and Minister for Justice to expedite criminal

proceedings against Adamus Resources Limited and its directors.

2. The Minerals Commission and relevant state investigative bodies to fully

cooperate with the Attorney-General's Office by supplying the evidence and

technical support needed to secure recovery of the GH¢377 million owed to the

state, alongside a forensic audit of the US$224 million in related-party transfers.

3. Government to ensure that any recovered sums and future proceeds from the

affected concessions are managed transparently and in the public interest.

LMWG will continue to monitor developments in this matter and press for

accountability commensurate with the scale of loss to the Ghanaian public purse.

SIGNED

Kwame Owusu Danso, Esq.

Executive Director

Lands and Mines Watch Ghana

Cc: All Media Houses