Adriana Resources Inc.

Adriana Resources Inc.

October 27, 2006 09:30 ET

Adriana Resources Inc.: Completion of Summer Field Program on the MIE Project, Nunavut

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 27, 2006) - Adriana Resources Inc. (the "Company") (TSX VENTURE:ADI) is pleased to announce the completion of the summer field program on the Mackenzie Igneous Event ("MIE") project in Nunavut, Canada. Exploration consisted of mapping, prospecting and sampling programs to follow-up on airborne conductor anomalies identified from the Company's 2005 airborne electromagnetic survey. In the summer of 2006, infill airborne geophysical surveying and deep penetrating Pulse Electromagnetic ("PEM") surveys utilizing a SQUID receiver system were conducted over selected areas.

The exploration focus on the Company's wholly owned MIE project is magmatic sulphide mineralization associated with the Muskox Intrusion. The MIE project consists of two distinct properties: the McGregor Lake Property and the All Night Lake Property.

McGregor Lake Property - Magmatic Sulphide Nickel-Copper-Platinum-Palladium ("Ni-Cu-PGE") Mineralization

The McGregor Lake Property is centered over a section of the Muskox Intrusion in an area where selected samples along the walls have historically returned highly anomalous results for Ni-Cu-PGE. The South end of the property is also situated over a major northwest trending structural corridor known as the Sinister Fault. Magmatic sulphide deposit models would suggest that massive sulphide accumulations, similar to those seen at Norilsk in Russia, may have pooled where this structural corridor intersects the base of the intrusive complex. The highly anomalous mineralization observed at surface is interpreted to be the surface expression of mineralization occurring at depth. The limited amount of drilling conducted by earlier operators targeted the shallow sources of mineralization on the walls of the intrusion. The Company is focused on targeting deeper mineralization.

The Company contracted Crone Geophysics and Exploration Ltd. to conduct SQUID PEM surveys over the main target corridor on the McGregor Lake Property. Twenty line-kilometers of data were collected from three different 2 x 2 kilometer loop configurations. A zone of high conductivity was detected directly in line with the interpreted "Keel" of the Muskox Intrusion. Modeling of the SQUID PEM data will be carried out during the fall of 2006 in preparation for an anticipated 2007 drill program to test the most prospective conductors.

All Night Lake Property - Chromitite-PGE Reef Style Mineralization

The All Night Lake Property covers the layered series and roof zone of the Muskox Intrusion. The genetic model type for mineralization in this area is dominantly "Reef Style" mineralization similar to the Merensky and UG2 reefs of the Bushveld complex in South Africa that host significant mineral deposits accounting for the majority of the global platinum reserves.

The Muskox reef is a classic chromitite associated reef containing PGE enriched mineralization that has been poorly explored in the past due to the lack of surface exposure. In one case, only two outcrops were found within a 2.5 kilometer stretch that contained the reef lithologies. Similarly, only four drill holes were historically drilled on the reef within a strike length of 10 kilometers.

Sixteen line-kilometers of SQUID PEM data were collected from two 2 x 2 kilometer loop configurations on the All Night Lake Property and results are pending. The Company contracted Fugro Airborne Surveys to carry out approximately 1,200 line-kilometers of airborne geophysical surveys on the All Night Lake Property.

Advisors to the MIE Project

Professor Reid Keays from the School of Geosciences at Monash University in Victoria, Australia, a recognized expert in the evaluation of layered intrusions through the use of litho-geochemical analysis, has agreed to work with the Company to provide a framework for the targeting of PGE mineralization within the layered series of the Muskox intrusion. Professor Keays will assist the Company in identification of the most prospective PGE bearing horizons that may be directly associated with the chromitite reef or located distal to the chromitites.

Mr. Jonathan Findlay, PhD., an independent consultant with expertise in copper-nickel-PGE deposits associated with layered intrusions, conducted a property inspection. His report recommends that further exploration work be carried out on the PGE-bearing layers within the All Night Lake property, and that there is high potential for discovery of copper-nickel PGE mineralization located along the walls of the Muskox Intrusion on the McGregor Lake property. Mr. Findlay's report is available for viewing on the Company's website.

Mr. Wilf Struck, P.Eng., an independent Qualified Person under NI 43-101, has approved the technical content of this News Release.

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. Adriana's Board has an impressive record in identifying and successfully developing economic mineral deposits through to production.


Michael J. Beley, President

WARNING: The Company relies on litigation protection for "forward looking" statements. Actual results could differ materially from those described in the news release as a result of numerous factors, some of which are outside the control of the Company.

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
    Adriana Resources Inc.
    Ali Sinawi
    (604) 629-0250
    (604) 629-0923 (FAX)