Adriana Resources Inc.
TSX VENTURE : ADI

Adriana Resources Inc.

November 20, 2008 09:15 ET

Adriana Appoints Director of Port Development for Brazil Operations

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 20, 2008) - Adriana Resources Inc. ("Adriana" or the "Company") (TSX VENTURE:ADI) is pleased to announce the appointment of Mr. Guilherme Moretzsohn de Andrade as the Director of Port Development, Brazore Ltda. ("Brazore"). Adriana is earning up to 75% of Brazore of which the Company has earned 60% to date, with the remainder owned by Athena Resources L.L.C., a private investment firm based in New York, USA. Additionally, as stated in the press release dated August 20, 2008, ArcelorMittal, the world's leading steel company, retains the right to acquire 80% of the port facility upon the completion of a Definitive Agreement.

Mr. Andrade comes to Brazore with approximately 25 years of port development, operations, logistics, and commercial and administration expertise, most recently with Companhia Siderurgica Nacional ("CSN") as the Terminal Operations Manager at the Port of Itaguai, located in Sepetiba Bay in the State of Rio de Janeiro, Brazil. While at the Port of Itaguai, Mr. Andrade was responsible for all aspects of the port's operation including all personnel, contracts, strategic studies to increase annual throughput from 30 Mtpa to 100 Mtpa, representative for the port authority, and other day to day operational functions. Mr. Andrade also worked as the Engineering Manager, Technical and Services Manager, and Planning and Development Coordinator at Sepetiba Tecon S.A., a subsidiary of CSN, where he was responsible for infrastructure implementation, new ventures development, purchasing department and maintenance of the equipments and civil areas of the terminal.

Mr. Andrade also spent 17 years with VALE (previously known as Cia Vale do Rio Doce - CVRD) where he worked as the Terminal Manager for Alumina do Norte S.A., a subsidiary of VALE, and also in various engineering and maintenance roles at the Port Complex of Tubarao, located in Vitoria in the State of Espirito Santo, Brazil. Mr. Andrade holds a Mechanical Engineering Degree from Universidade de Brasilia, a Business Management Master Degree from Fundacao Getulio Vargas, and has completed specializations in Maintenance Engineering and Business Negotiation.

Michael Beley, President and CEO of the Company, stated, "Mr. Andrade will play a key role in the anticipated future development of Brazore's port facility in Sepetiba Bay in Brazil. Mr. Andrade brings the extensive experience directly related to port development and operation in Brazil and also local knowledge, respect and strong relationships built over 25 years that will assist Adriana in advancing its iron ore strategy within Brazil."

About Adriana Resources Inc.

Adriana's goal is to become a fully integrated iron ore producer through strategic partnerships, acquisitions and development projects. The continued development of its iron ore port facility in Brazil will be a significant milestone in advancing that goal. Adriana is committed to the acquisition of iron ore assets in southeast Brazil that are strategically located and able to access the port. The Company is continuing development of its 100% owned Lac Otelnuk, December Lake and Bedford iron properties in Quebec and Labrador & Newfoundland, respectively. Adriana's management and technical team continue to review other opportunities to further enhance the Company's position as "The New Player in Iron Ore".

ON BEHALF OF ADRIANA RESOURCES INC.

Michael J. Beley, President

Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements.

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

Contact Information

  • Adriana Resources Inc.
    Robert Ferguson
    (604) 629-0250 or Toll Free: 1-877-629-0150
    or
    Adriana Resources Inc.
    Ali Sinawi
    (604) 629-0250 or Toll Free: 1-877-629-0150
    (604) 629-0923 (FAX)
    Website: www.adrianaresources.com