Adriana Resources Inc.
TSX VENTURE : ADI

Adriana Resources Inc.

March 31, 2016 19:08 ET

Adriana Announces Change of Director and Change of CFO

TORONTO, ONTARIO--(Marketwired - March 31, 2016) - Adriana Resources Inc. ("Adriana" or the "Company") (TSX VENTURE:ADI) announces today that Mr. Weike Peng has resigned from its Board of Directors, due to his transfer to a new role. Mr. Peng has been a valuable member of Adriana's Board of Directors as a representative of WISCO International Resource Development & Investment Limited ("WISCO").

The Board of Directors has appointed Mr. Xinting (Tony) Wang, subject to TSX-V approval, as a director to replace Mr. Peng on the Board of Directors. Mr. Wang currently serves as Chief Executive Officer and President of WISCO Canada Resources Investment Limited, based in Toronto. He is a mining engineer by profession with over 20 years of experience with operations and investment in the iron ore mining industry.

Mr. Wang has a wealth of experience in overseas mining investment and management, having served as a director of Hong Kong WISCO GUANGXIN KAM WAH Resources Limited, which managed the development of the Soalala project in Madagascar, and serves as a director of Century Global Commodities Corporation, listed on the TSX. Mr. Wang attended the XI'AN University of Technology and Architecture in China, majoring in mining engineering and subsequently the Wuhan University of Technology and Science as the mining engineering graduate student. Mr. Wang also holds a Master Business Administration degree from Ohio University, USA.

Don Charter, Chairman of Adriana commented: "We thank Mr. Peng for his valuable contributions to the Company and wish him well in his future endeavours. We welcome Mr. Wang to the Board of Directors. As CEO of WISCO Canada, Tony is very familiar with Adriana and Lac Otelnuk, and we look forward to working with him."

The Company also announces the resignation of Mr. Daniel E. Im, who is leaving his role as CFO effective March 31, 2016 to pursue other opportunities.

"The Board of Directors would like to thank Daniel for all of his contributions to Adriana during the last five years and wish him success in his future endeavours," said Michael J. Harrison, President and CEO.

The Company has engaged Mr. Carlos Pinglo as CFO on a part-time consulting basis. Mr. Pinglo is an economist with over 20 years of senior management experience, working with both private and public companies in corporate finance, strategic planning, financial reporting, turnarounds and mergers & acquisitions. He is currently Chief Financial Officer of Carpathian Gold, and Chief Financial Officer and Corporate Secretary of Eurotin Inc. Mr. Pinglo has previously held a number of senior finance roles, including Chief Financial Officer at both First Bauxite Corporation and Medoro Resources Ltd., Vice President, Finance at Pacific Coal Resources Ltd., Controller of both Silver Eagle Mines Inc. and Excellon Resources Inc. and a member of the Board of Directors at Mineros Nacionales S.A.

The Company continues its efforts to conserve cash and has substantially reduced general and administrative expenditures. In addition, the Company will also be moving its head office effective April 1, 2016. The new address can be found on the Company's website.

ON BEHALF OF ADRIANA RESOURCES INC.

Michael J. Harrison, President and CEO

Certain information regarding Adriana, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties. 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. 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.

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