Adriana Resources Inc.

Adriana Resources Inc.

February 26, 2015 16:30 ET

Adriana Files Financial Statements for the Year Ended December 31, 2014

TORONTO, ONTARIO--(Marketwired - Feb. 26, 2015) - Adriana Resources Inc. ("Adriana" or the "Company") - (TSX VENTURE:ADI) reported it has filed its audited consolidated financial statements for the year ended December 31, 2014 and the related Management Discussions and Analysis. Both documents are available on SEDAR.

As at February 25, 2015, Adriana had cash and cash equivalents of $36 million.

Lac Otelnuk Mining Ltd. ("LOM"), a joint venture company with WISCO International Resources Development & Investment Limited ("WISCO"), of which Adriana owns 40% and WISCO owns 60%, had cash of $7.7 million as at February 25, 2015.

LOM engaged SNC-Lavalin in October 2013 to provide a Feasibility Study for the Lac Otelnuk Project. We anticipate that the Feasibility Study for the project will be complete in March 2015. On the completion of the Feasibility Study, the Company will prepare a new National Instrument 43-101 Technical Report ("Technical Report") that will reflect the results of the Feasibility Study.

The new Technical Report is anticipated to be filed on SEDAR in April, 2015.


Allen J. Palmiere, President and CEO

Certain information regarding Adriana and LOM, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties. 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. 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.

Contact Information