Adriana Resources Inc.

Adriana Resources Inc.

February 25, 2010 18:00 ET

Adriana Grants Incentive Stock Options and Files 2009 Financial Statements

TORONTO, ONTARIO--(Marketwire - Feb. 25, 2010) - Adriana Resources Inc. ("Adriana" or the "Company") (TSX VENTURE:ADI) announces that it has granted options to certain directors, employees and consultants of the Company entitling them to purchase an aggregate of 950,000 common shares of the Company. The options were granted pursuant to the Company's new stock option plan (the "New Plan") approved by the directors of the Company and the TSX Venture Exchange in September 2009. The New Plan is subject to approval by the shareholders of the Company at the annual and special meeting of the Company's shareholders scheduled for April 8, 2010. Therefore, this grant of options is subject to the approval of the New Plan by the shareholders of the Company. Each option entitles the holder thereof to purchase one common share at a price of $0.45 per share for a period of five years subject to vesting restrictions over a period of 18 months. The Company has also cancelled options to purchase 250,000 common shares of the Company previously held by a former director and officer of the Company.

The Company also announces that it has filed its audited consolidated financial statements as at and for the financial years ended October 31, 2009 and 2008 (the "2009 Audited Financials") on SEDAR and that the 2009 Audited Financials were mailed to the shareholders of the Company. The Company announces that it has restated its 2008 financial statements to, among other things, reflect an increase in capital assets and related accrued liabilities pertaining thereto of approximately $3.5 million and adjust foreign exchange expenses which resulted in an increase in the Company's loss for the 2008 financial year by approximately $250,000. Further information related to the restatement is set out in the 2009 Audited Financials. Management of the Company does not consider the amendments resulting in the restatement to be material.

Adriana is currently focused on the advancement of its Lac Otelnuk world-class iron ore deposit located in the Labrador Trough, Nunavik, Québec.


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 known and unknown risks and uncertainties. Without limitation, statements relating to potential mineralization and resources, mining exploration and development, future plans and objectives of the Company and imprecision of mineral resources estimates, are forward looking statements that involve various degrees of risk. Certain important risk factors could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements including, without limitation, changes in the world wide price of mineral commodities and currency fluctuations, general market conditions, the uncertainty of future profitability and access to sufficient capital, risks inherent in mineral exploration, development, construction and mining operations, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, environmental risks, access to labour and services and competition from other companies. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements and caution should be exercised on placing undue reliance on forward looking information.

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 press release.

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