Adriana Resources Inc.
TSX VENTURE : ADI

Adriana Resources Inc.

December 29, 2006 16:00 ET

Adriana Closes $3 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 29, 2006) - Adriana Resources Inc. (the "Company") (TSX VENTURE:ADI) announces it closed a non-brokered private placement for gross proceeds of $3,000,000. The private placement consisted of 3,333,333 flow through shares priced at $0.90 per share. The shares are subject to a hold period expiring April 28, 2007. The Company paid finders fees of $151,630, of which $67,650 was paid in cash and $83,980 was paid by issuing 93,311 common shares at a price of $0.90 per share. No warrants were issued in connection with the private placement. MineralFields Group participated in the private placement and more information about MineralFields can be found on their website at www.mineralfields.com. Proceeds of the financing will be used for continued exploration of the Company's mineral properties in Nunavut and Quebec.

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 an impressive 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
    (604) 629-0923 (FAX)
    Website: www.adrianaresources.com