Adriana Resources Inc.

Adriana Resources Inc.

November 27, 2009 18:34 ET

Adriana Announces Update on Port Project and Its Iron Ore Project in Quebec

TORONTO, ONTARIO--(Marketwire - Nov. 27, 2009) - Adriana Resources Inc. ("Adriana" or the "Company") - (TSX VENTURE:ADI) announces that it has received a notice from ArcelorMittal ("Arcelor") terminating the memorandum of understanding with the Company relating to Arcelor's participation in Adriana's iron ore port facility development project located in Sepetiba Bay, approximately 70 kilometers west of Rio de Janeiro in the State of Rio de Janeiro, Brazil. The Company recently announced that it has submitted a new permit application for a deep sea terminal port with a capacity of 45 million tonnes per year. Adriana will continue to develop strategic working relationships with parties to maximize the potential of the deep sea terminal port.

The Company also announces that it is continuing discussions with a major Chinese steel producer, further to the memorandum of understanding announced by the Company on July 24, 2009, for the potential development of Adriana's Lac Otelnuk world-class iron ore deposit located in the Labrador Trough, Nunavik Quebec (the "Property") containing a total of 4.29 billion tonnes NI 43-101 indicated and 1.97 billion tonnes NI 43-101 inferred resources. The Company is currently finalizing its proposed 2010 drilling program at the Property. Based on historical mapping and exploration drilling completed in the 1970s, the Company anticipates a significant increase in its mineral resources base for the Property as further drilling is completed.


"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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