Adriana Resources Inc.
TSX VENTURE : ADI

Adriana Resources Inc.

July 09, 2008 09:15 ET

Adriana Drills 1,730 Meters at Lac Otelnuk; Completes Geophysics on Bedford Iron Prospect

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 9, 2008) - Adriana Resources Inc. ("Adriana" or the "Company") - (TSX VENTURE:ADI)(WKN:A0F7EL) is pleased to announce the Company has completed an additional 13 drill holes totaling 1,730 meters as of July 7th, 2008 on the Company's 100% optioned Lac Otelnuk Iron Project in the Labrador Trough, Quebec. The diamond drill program is designed to define a National Instrument ("NI") 43-101 compliant inferred mineral resource estimate on the South Zone of the Lac Otelnuk iron deposit.

Adriana recently completed a general surface grab sampling program at the Bedford Iron Prospect, located in Labrador, to examine the iron formation that exists on the property. Results are expected shortly. The Company contracted MPX Geophysics to complete a 672 line-kilometer aeromagnetic (helicopter) geophysical survey at 100-meter spacings. The survey was completed on June 28th and the Company expects analysis of the results by August.

"Adriana continues to advance its strategic iron ore assets in the Labrador Trough. The Bedford Iron Prospect continues to have many similar characteristics to the Lac Otelnuk Iron Project and we look forward to defining this iron prospect," commented Michael Beley, President of Adriana. "Drilling at Lac Otelnuk is ahead of schedule, on budget, and the Company is confident that a NI 43-101 compliant resource estimate can be defined. The Labrador Iron Trough has the potential to become a strategic location for the development of significant iron resources to meet the global long term iron supply needs of steel mills."

About Lac Otelnuk Iron Project

The Lac Otelnuk Iron Project is a Lake Superior type iron formation, or taconite, identified over a strike length of approximately 25 kilometers, based on results from exploration drilling (36 holes) in the 1970s and geological and geophysical mapping. In 2007, the Company completed 27 diamond drill holes totaling 2,191 meters on the South Zone of the Lac Otelnuk Iron Project.

Results from 2007 drilling indicate good lateral continuity of the iron formation and a significant increase in stratigraphic thickness compared with drilling in the 1970s. The 2008 diamond drill program will focus on completing the remaining 40 drill holes (approximately 4,000 meters) required to test the 9,000-meter strike length of the South Zone; as recommended by Watts Griffis and McOuat Limited, a Toronto-based firm of independent consulting geologists and engineers contracted by Adriana to act as technical consultants to the project.

For further information on the Lac Otelnuk Iron Project please refer to Adriana's website at: http://www.adrianaresources.com/s/LacOtelnuk.asp.

About the Bedford Iron Prospect

The property is located in Labrador and is 27 kilometers northeast of the town of Schefferville, Quebec on the east side of Howells River. The Bedford Iron Prospect consists of 4,400 hectares and covers a significant government aeromagnetic anomaly strategically located within 3 kilometers of the LabMag iron deposit and within 12 kilometers of the KeMag iron deposit, both held by New Millennium Capital Corp. The Property is also within close proximity to several Direct Shipping Iron Ore deposits previously owned by the Iron Ore Company of Canada which operated mines in the area from 1954 to 1982.

Additional information on the Bedford Iron Prospect is available on Adriana's website at http://www.adrianaresources.com/s/BedfordIron.asp and is highlighted in a news release dated March 25, 2008.

Mr. Frank Condon, P.Eng., a director of the Company and a qualified person as defined by NI 43-101, has reviewed and approved the technical disclosure contained in this news release.

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.

ON BEHALF OF ADRIANA RESOURCES INC.

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 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.

The TSX Venture Exchange does not accept responsibility for the accuracy or adequacy of this release.

Contact Information

  • Adriana Resources Inc.
    Robert Ferguson
    (604) 629-0250 or Toll Free 1-877-629-0150
    or
    Adriana Resources Inc.
    Ali Sinawi
    (604) 629-0250 or Toll Free 1-877-629-0150
    (604) 629-0923 (FAX)
    Website: www.adrianaresources.com