Adriana Resources Inc.
TSX VENTURE : ADI

Adriana Resources Inc.

June 16, 2009 08:30 ET

Adriana Grants Incentive Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 16, 2009) - Adriana Resources Inc. ("Adriana" or the "Company") (TSX VENTURE:ADI) announces that it has granted incentive stock options to an officer of the Company to purchase up to 2,000,000 common shares in the capital stock of the Company pursuant to a Share Option Plan approved by shareholders. The options are exercisable at a price of $0.30 per share, have a term of five years and are subject to vesting restrictions over a period of 18 months. The Company also wishes to announce the cancellation of 100,000 incentive stock options granted to a director on June 20, 2008.

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.

Allen J. Palmiere, President and CEO

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 and permitting 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.

Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Adriana Resources Inc.
    Robert Ferguson
    + 1 (604) 629-0250 or toll free at + 1 (877) 629-0150
    or
    Adriana Resources Inc.
    Ali Sinawi
    + 1 (604) 629-0250 or toll free at + 1 (877) 629-0150
    +1 (604) 629-0923 (FAX)
    www.adrianaresources.com