Adriana Resources Inc.

Adriana Resources Inc.

May 17, 2006 06:15 ET

Adriana Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 17, 2006) - Adriana Resources Inc. (the "Company") (TSX VENTURE:ADI) is pleased to announce it has arranged, subject to regulatory approval, a non-brokered private placement for proceeds of $2,712,905. The private placement consists of 2,086,850 units priced at $1.30 per unit. Each unit consists of one common share and one-half warrant. Each whole warrant is exercisable for a period of one year from closing to acquire one common share at a price of $1.75 per share. The shares and warrants underlying the units will be subject to hold periods in accordance with TSX Venture Exchange (the "Exchange") policies and applicable securities laws. The Company anticipates paying finders fees on funds sourced to eligible finders in respect of certain units placed under the financing. Insiders are purchasing 30,000 units of the private placement. Proceeds of the financing will be used for continued exploration of the Company's mineral properties in Nunavut and Quebec and for general working capital.

For more information, contact Ali Sinawi at (604) 629-0250 or visit the Company's website at Information concerning the Company is also available on Pacific Imperial's website at


Michael J. Beley, President

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release that address future financings are forward-looking statements. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements.

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

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