Adriana Resources Inc.
TSX VENTURE : ADI

Adriana Resources Inc.

November 25, 2008 13:07 ET

Adriana Completes 2008 Exploration Program at Lac Otelnuk Iron Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 25, 2008) - Adriana Resources Inc. ("Adriana" or the "Company") (TSX VENTURE:ADI) is pleased to announce the completion of the 2008 diamond drill exploration program at the Lac Otelnuk Iron Project located in Labrador Trough, Quebec, Canada. The diamond drill program was designed to define a National Instrument ("NI") 43-101 compliant inferred mineral resource estimate on the South Zone of the Lac Otelnuk iron deposit.

During 2008, Adriana drilled 41 holes totalling 5,255 metres of BQ core. All the holes were drilled on the South Zone of the Lac Otelnuk deposit, with the exception of one hole which was drilled to explore the potential of a new zone west of the North Zone. Of special interest, a single exploration hole located 2,000 m west of the baseline on Section 10 North, confirmed the significant western extension of the iron formation under a broad topographic high or ridge. This area was not previously explored. The drill hole was lost before reaching the lower stratigraphic units. Further drilling in this area is planned for 2009.

Michael Beley, President and CEO of the Company stated, "Drilling on the South Zone of the Lac Otelnuk Iron Project continues to identify a significant iron formation. The step-out hole, approximately two kilometres to the northwest, has identified a similar stratigraphic zone that previously was thought to have been eroded. The Lac Otelnuk iron deposit has the potential to be developed to help supply the long term iron requirements of global steel mills."

A total of 67 diamond drill holes totalling 7,446 m have now been drilled by Adriana on the South Zone (including 27 holes totalling 2,191 m drilled in 2007). The 2008 drill campaign completes grid drilling of a section of the iron formation, referred to as the South Zone, approximately 9 km long and 2.5 km wide, at a drill spacing of 600 m by 500 m. The drill spacing is believed to be sufficient to define an inferred mineral resource compliant with NI 43-101 standards. Complete assay results, being carried out by SGS Lakefield, are pending for the 2008 drill program and are expected to be completed before year end. Extensive Quality Control/Quality Assurance sampling procedures prepared and audited under the direction of Richard Risto, M.Sc., P.Geo., Watts, Griffis and McOuat Limited Senior Associate Geologist, are included in the Sampling and Assaying Protocols.

Drilling has shown that the Lac Otelnuk iron formation stratigraphy is very uniform, dips gently to the northeast and has a potential thickness of approximately 100 m where the stratigraphic section has not been eroded. Additional assays will determine the grade distribution within each of the eight stratigraphic units. The South Zone is open along strike (both northwest and southeast) and down dip where it gently dips under the overlying cap rock and is constrained only by the increasing thickness of overlying cap rock. The western flank of the deposit outcrops and is delimited by surface erosion.

During the 2008 field season, the Company also completed an aerial photograhic survey and an extensive Ground Differential GPS survey that will be used for future mineral resource estimation, baseline monitoring and conceptual open pit planning. Golder Associates has been retained to conduct environmental baseline studies and succesfully completed fall season surface and ground water sampling and analysis. Adriana's technical personnel and consultants are currently compiling all the 2007 and 2008 drill data and intends to retain an independent engineering firm to conduct mineral resource studies and prepare an updated NI 43-101 Technical Report upon completion of assaying.

Mr. Frank Condon, P.Eng., a director of the Company and a qualified person as defined by NI 43-101, has reviewed and approved the technical disclosure contained in this news release.

About Lac Otelnuk Iron Project

The Lac Otelnuk Iron Project is a Lake Superior type iron formation, or taconite, identified over a strike length of approximately 25 km, based on results from exploration drilling (36 holes) in the 1970s and geological and geophysical mapping. In 2007, the Company completed 27 diamond drill holes totaling 2,191 m on the South Zone of the Lac Otelnuk Iron Project.

For further information on the Lac Otelnuk Iron Project please refer to Adriana's website at: http://www.adrianaresources.com/s/LacOtelnuk.asp

About Adriana Resources Inc.

Adriana's goal is to become a fully integrated iron ore producer through continued development of its iron ore port facility in Brazil, through acquisition of iron ore mineral resources in Brazil, and the advancement of the Lac Otelnuk Iron Project in Quebec, Canada.

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