Adriana Resources Inc.
TSX VENTURE : ADI

Adriana Resources Inc.

June 07, 2007 06:30 ET

Adriana Resources Inc.: Exploration Program Commences on the Lac Otelnuk Iron Project, Quebec, Canada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 7, 2007) - Adriana Resources Inc. ("Adriana" or the "Company") (TSX VENTURE:ADI) announces the commencement of an advanced stage exploration program at their Lac Otelnuk Iron Project in the Labrador Trough, Quebec. Crews have been mobilized and a fifteen man camp is nearing completion in preparation for the summer drill program.

IOS Services Geoscientifiques Inc. will serve as the general contractor for logistics and program management and Energold Drilling Corp. is supplying two drill rigs and crews to complete a planned 5,000 metre diamond drill program. This drill program is designed to define a National Instrument 43-101 ("NI 43-101") compliant mineral resource on the North and South Zones of the Lac Otelnuk iron deposits.

Watts, Griffis and McOuat Limited ("WGM"), a Toronto-based firm of consulting geologists and engineers, with considerable experience and expertise in the evaluation of iron deposits, prepared a NI 43-101 report on the property. This report can be viewed at www.sedar.com (file date December 1, 2005).

WGM reported a historic resource of 623,000,000 tonnes with 33.92% soluble iron and 25.08% magnetic iron within the North Zone and 1,145,000,000 tonnes of 33.06% soluble iron and 25.76% magnetic iron in the South Zone (Press release of December 2, 2005). The reader should be aware that these historic "mineral resource" estimates were prepared prior to the implementation of NI 43-101 and WGM has neither audited these estimates nor made any attempt to classify them according to NI 43-101 standards or the Council of the Canadian Institute of Mining, Metallurgy and Petroleum definitions ("CIM Standards"). They are presented because the Company and WGM consider them to be relevant and of historic significance. These estimates should not be relied upon and are provided as contextual information only.

Michael Beley, President of Adriana Resources, commented, "I look forward to monitoring the progress of our Lac Otelnuk Iron Project. It is exciting to have a project of this magnitude where there are historical resources of close to two billion tonnes of iron mineralization. Our team will be working hard this summer to bring the historic resource estimates into compliance with the NI 43-101 standards."

About the Lac Otelnuk Iron Project

The Lac Otelnuk Iron Project is located 170 kilometers north of the town of Schefferville, Quebec. This town once served as a centre for the iron mining and processing operations of the Iron Ore Company of Canada. The northern terminus of the Quebec North Shore and Labrador Railroad, a common carrier, is located in Schefferville.

Lakefield Research (now SGS Minerals Services) of Lakefield, Ontario, carried out limited metallurgical test work on surface samples and drill core from the North Zone in 1971 and 1974. In addition, in 1976, an 18-long ton bulk sample was taken from the North Zone, of which approximately one long ton was shipped to a German laboratory for metallurgical testwork. This work was carried out in 1977. Finally, in 1981 Lakefield carried out testwork on another portion of the bulk sample. While the results from the two laboratories cannot be directly correlated, both prepared concentrates grading 65.1% to 70.6% Soluble Fe with weight recoveries up to 41.0%, acceptable results for taconite deposits.

Adriana's goal is to verify the historical resource and evaluate the viability of a mining operation.

The Company has retained the services of WGM to provide ongoing technical assistance through its drill program to ensure that the drilling and sampling is carried out in compliance with NI 43-101 guidelines and industry standards. WGM is assisting the Company in setting up and monitoring its logging, sampling and assaying protocols and will prepare, upon program completion, a technical report and an updated Mineral Resource estimate in accordance with the CIM standards and definitions.

Mr. Richard Risto, B.Sc., M.Sc., P.Geo., a Qualified Person under NI 43-101, will act as the Qualified Person for the Lac Otelnuk Iron Project. Mr. Risto has reviewed and approved the content of this News Release.

Mr. Wilf Struck, P.Eng, a director of the Company and a Qualified Person under NI 43-101, has approved the technical content of this News Release.

About Adriana Resources Inc.

Adriana Resources Inc. is a mineral exploration and development company with advanced and early staged mineral projects in Canada and Finland. The individuals comprising Adriana's Board have a proven record in their previous associations in identifying and successfully developing mineral deposits through to production.

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 has not reviewed and does not accept responsibility for the adequacy 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