Adriana Resources Inc.
TSX VENTURE : ADI

Adriana Resources Inc.

January 29, 2007 09:30 ET

Adriana and Seabulk Systems Inc. Establish Strategic Relationship

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 29, 2007) - Adriana Resources Inc. (the "Company") (TSX VENTURE:ADI) signed a memorandum of understanding with Seabulk Systems Inc.

Adriana Resources Inc. ("ADI") and Seabulk Systems Inc. ("Seabulk") have agreed to co-operate in a strategic relationship in furtherance of their respective business objectives. This relationship will be pursued through the creation of partnerships to develop large scale, bulk mineral resources requiring port development and/or shipping solutions.

ADI has expertise in the exploration, financing, development and commercialisation of mineral resources and Seabulk has expertise in the area of financing, engineering, and development of ports and dry bulk shipping solutions. ADI and Seabulk understand that the combination of this expertise will provide each company with opportunities that they might not independently otherwise enjoy.

ADI and Seabulk intend to work together on mineral projects sourced in North and South America, Europe and Southeast Asia through a company (or companies) jointly owned by ADI and Seabulk. More definitive agreements will be negotiated between ADI and Seabulk from time to time to reflect the specific contractual relationships that may apply in respect of any given project.

The combination of Seabulk's experience to deliver ore to market and to generate off-take contracts and Adriana's ability to source and develop mineral properties will create an integrated solutions resource-based enterprise fully capable of mining ore and delivering ore products to the end user.

About Seabulk Systems Inc.

Seabulk Systems Inc. has been involved exclusively in the Marine Bulk Transportation industry since 1989. The company undertakes turn-key projects by developing unique solutions to improve the logistics chain for improved delivery of bulk materials. Seabulk has received awards for engineering excellence, including the Governor General's award for the 'Semi-submersible Transshipper'. The Company's principal fields of activity are: Ports/Marine Terminals, Marine Transportation, Bulk Handling Equipment and Systems, Open-Sea Transshippers, Self-unloading Barges and Ships.

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

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