Adriana Resources Inc.
TSX VENTURE : ADI

Adriana Resources Inc.

August 30, 2007 13:44 ET

Diamond Drilling Has Commenced on Adriana's Lac Otelnuk Iron Project, Quebec, Canada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 30, 2007) - Adriana Resources Inc. ("Adriana" or the "Company") (TSX VENTURE:ADI) announces that diamond drilling has commenced on the Company's Lac Otelnuk Iron Project in the Labrador Trough, Quebec.

The exploration camp is now fully operational with an exploration team and two diamond drilling crews at the site. The diamond drill program is designed to define a National Instrument 43-101 ("NI 43-101") compliant Inferred mineral resource on the South Zone of the Lac Otelnuk Project. Adriana's goal is to drill a minimum of 3,000 meters and continue to work towards verifying the historical resource.

Watts, Griffis and McOuat Limited ("WGM"), a Toronto-based firm of consulting geologists and engineers, with considerable experience and expertise in the evaluation of iron deposits, prepared the initial NI 43-101 report on the property and consequently is very familiar with the mineralization on the property. This report can be viewed at www.sedar.com (file date December 1, 2005). In the NI 43-101 report, WGM quoted a historic resource of 623 million tonnes with 33.92% soluble iron and 25.08% magnetic iron within the North Zone and 1.145 billion tonnes of 33.06% soluble iron and 25.76% magnetic iron in the South Zone. The reader should be aware that these historic "mineral resource" estimates were prepared prior to the implementation of NI 43-101 and WGM has neither audited these estimates nor made any attempt to classify them according to NI 43-101 standards or the Council of the Canadian Institute of Mining, Metallurgy and Petroleum definitions ("CIM Standards"). They are presented because the Company and WGM consider them to be relevant and of historic significance. These estimates should not be relied upon and are provided as contextual information only.

The Company has retained the services of WGM to provide ongoing technical assistance through its drill program to ensure that the drilling and sampling is conducted in compliance with NI 43-101 guidelines and to industry standards. WGM is assisting the Company in setting up and monitoring its logging, sampling and assaying protocols.

About the Lac Otelnuk Iron Project

The Lac Otelnuk Iron Project is located 170 kilometers north of the town of Schefferville, Quebec. This town once served as a centre for the iron mining and processing operations of the Iron Ore Company of Canada. The northern terminus of the Quebec North Shore and Labrador Railroad, a common carrier, is located in Schefferville.

Mr. Richard Risto, B.Sc., M.Sc., P.Geo., of WGM, is a Qualified Person under NI 43-101, will act as the Qualified Person for the Lac Otelnuk Iron Project. Mr. Risto has reviewed and approved the content of this News Release.

Mr. Wilf Struck, P.Eng., a director of the Company and a 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, Finland and Brazil. The individuals comprising Adriana's Board have a proven record in identifying and successfully developing mineral deposits through to production. Adriana is focused on bringing our advanced mineral project in Finland to production and developing a world class iron ore port facility in Brazil.

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 & 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.

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