Adriana Resources Inc.

Adriana Resources Inc.

April 20, 2009 09:01 ET

Adriana Appoints New Directors to Board

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 20, 2009) - Adriana Resources Inc. ("Adriana" or the "Company") (TSX VENTURE:ADI)(WKN:A0F7EL) is pleased to announce the appointments of Mr. Colin Blyth, Mr. Julio Carvalho, Mr. Robert Power, and Mr. Donald Siemens to its board of directors. The Company also announces that Mr. Paul Fong and Dr. Joe Griebel have resigned from the board. Dr. Joe Griebel remains as a member of the executive management team as President of Adriana's Brazil subsidiary, Adriana Resources Mineracao Ltda., based in Rio de Janeiro.

"First of all I would like to acknowledge the valued contributions to the Company of our outgoing directors, Paul Fong and Joe Griebel, who have provided substantial support and guidance through Adriana's growth," stated Michael Beley, President and CEO of the Company. "I would also like to welcome our new board members, and look forward to their involvement with Adriana's strategic planning going forward. Each of our new directors brings specialized experience to the board, including global marketing of mineral resources, significant knowledge and experience within Brazil's mineral sector, extensive global experience in legal and infrastructure practices, and solid track records of corporate finance and mergers and acquisitions. The new appointments add significant strength and depth to Adriana's board, and will assist in positioning the Company as a global player in the iron ore industry."

Mr. Colin Blyth is a senior marketing and sales executive with 20 years of progressive international marketing and general sales management experience with diversified mining and refining companies generating annual revenue ranging from $600M to $3B. Mr. Blyth is currently the Vice-President, Sales and Marketing for CMC - Coal Marketing Company (USA) Inc. in Atlanta, Georgia, USA. Mr. Blyth was previously Vice-President Marketing - Asia for Elk Valley Coal Corporation and for 14 years held senior marketing positions with Teck Cominco Limited. He holds an MBA and B.Sc. Geology from Queen's University.

Mr. Julio Carvalho brings over 35 years of experience in the Brazilian mineral resource sector and is currently Chairman and CEO of Rio Novo Holdings S/A, which owns two developing gold projects in Brazil, and an executive director of Santa Elina Group in Brazil. Previously, Mr. Carvalho was President and CEO and a member of the board of directors of Peak Gold Limited (now New Gold Inc.), Executive Vice President of South and Central America for Goldcorp Inc., President and CEO of Mineracao Onca Puma Ltda. the Brazilian subsidiary of Canico Resource Corp., and Rio Tinto Brazil, where he worked for more than 33 years and held the primary role of Chief Financial Officer and was an Executive Director. Mr. Carvalho is a Chartered Accountant and holds an MBA from Queen's University.

Mr. Robert Power is a lawyer with Blake, Cassels & Graydon LLP, one of the largest international law firms and ranked as "Canadian Law Firm of the Year" for 2007/08 by Chambers and Partners. Mr. Power is Co-chair of that firm's National Energy Group and manages a significant energy, infrastructure and corporate practice. Mr. Power is also recognized in The Lexpert/American Lawyer Guide to the Leading 500 Lawyers in Canada. Mr. Power has broad international legal and business experience, has contributed to the National Standards Council standard development processes, and has advised on a number of large infrastructure and project development matters in various industries. Mr. Power received his LL.B. from Dalhousie University, a B.A. from the University of Victoria, and is called to the Bars of Alberta and Ontario.

Mr. Donald Siemens brings over 30 years of experience to the board as a Chartered Accountant, including 8 years in public practice as a partner with major accounting firms, 8 years in senior executive positions in industry and 18 years as a self- employed Financial Services executive. Currently, as an independent financial advisor, Mr. Siemens specializes in Corporate Finance, cross-border transactions and Mergers & Acquisitions. He serves as a director and Audit Committee Chair for three public companies: Los Andes Copper Ltd., Nikos Explorations Ltd., and JayHawk Energy, Inc. Previously, Mr. Siemens was Partner-in-Charge of Thorne Ernst & Whinney's (now KPMG) Vancouver office Financial Advisory Services group. Mr. Siemens obtained a Chartered Accountant designation in 1972, and a B.A. from University of British Columbia.

About Adriana Resources Inc.

Adriana's goal is to become a fully integrated iron ore producer through continued development of its iron ore port facility in Brazil, through acquisition of iron ore mineral resources in Brazil, and the advancement of the Lac Otelnuk Iron Project in Quebec, Canada.


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 and permitting 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.

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 of accuracy of this release.

Contact Information

  • Adriana Resources Inc.
    Robert Ferguson
    (604) 629-0250 or Toll Free: (877) 629-0150
    Adriana Resources Inc.
    Ali Sinawi
    (604) 629-0250 or Toll Free: (877) 629-0150
    (604) 629-0923 (FAX)