Adriana Resources Inc.
TSX VENTURE : ADI

Adriana Resources Inc.

June 22, 2012 11:58 ET

Adriana Announces Grant of Options and the Election of New Board of Directors

TORONTO, ONTARIO--(Marketwire - June 22, 2012) - Adriana Resources Inc. (TSX VENTURE:ADI) ("Adriana" or the "Company") announces that it has granted options to certain directors of the Company entitling them to purchase an aggregate of 600,000 common shares of the Company, pursuant to the Company's Share Option Plan approved by the shareholders. Each option entitles the holder thereof to purchase one common share at a price of $0.68 per share for a period of five years subject to vesting restrictions over a period of 18 months.

Adriana is also pleased to announce that Messrs. Brian L. Acton, Ronald S. Simkus and David S. Warner, were elected as directors of Adriana at the Annual General and Special Meeting of the Shareholders held on June 21, 2012.

Mr. Brian L. Acton brings over 35 years of experience in mining, materials and logistics. Mr. Acton is currently engaged as a consultant with Oxbow Corporation. Mr. Acton previously was the President and Chief Operating Officer of Oxbow Corporation. Prior to 1985, he was Director of Marketing for Kaiser Resources/Westar Mining (now Teck Resources).

Mr. Simkus brings over 37 years experience in base metal ore processing technology, management of skilled operations, maintenance and engineering personnel. Mr. Simkus is the Chairman of the Board of Orvana Minerals Corp., and has been self-employed since 2006. Prior to 2006, Mr. Simkus was the Senior Vice President, Mining - Corriente Resources Inc., and President & CEO of Campania Minera Antamina between 2001 and 2003.

Mr. Warner brings over 36 years of experience to the Board as a Chartered Accountant, including 30 years in public practice as a Partner with KPMG LLP. Mr. Warner's expertise includes mining, oil and gas, regulated utilities and real estate. Mr. Warner is currently a director of Lipari Energy Inc., and Castillian Resources Corp.

"I am pleased that Messrs. Acton, Simkus and Warner have accepted the appointment as directors of Adriana. We would like to thank Mr. Blyth and Mr. Siemens for all their contributions to the Adriana board and wish them success in all their future endeavors," said Mr. Allen J. Palmiere, President and Chief Executive Officer of the Company.

ON BEHALF OF ADRIANA RESOURCES INC.

Allen J. Palmiere, President and CEO

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.

Contact Information

  • Adriana Resources Inc.
    Connie Dos Santos
    Director, Investor Relations
    (416) 363-2200 ext. 223

    Adriana Resources Inc.
    Allen J. Palmiere
    President and CEO
    (416) 363-2200 ext. 222
    www.adrianaresources.com