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Adriana Resources Inc.

Published : November 15th, 2007

Announces $30 Million Private Placement

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Adriana Announces $30 Million Private Placement

Adriana Resources Inc. (the "Company") - TSXV:ADI announces it has entered into agreements for a financing to raise gross proceeds of approximately $30 million. The financing consists of a non-brokered private placement of 18,181,818 common shares at $1.10 per share and a best efforts brokered private placement led by GMP Securities L.P. ("GMP") of approximately 9,100,000 common shares at $1.10 per share. The Company expects to close the financing in two tranches: the $20 million non-brokered portion on or about November 16th and the $10 million brokered portion on or about November 30th, subject to regulatory approval.

The non-brokered portion of the private placement is being placed with five strategic investors, including an investment by WorldLink (Canada) Resources Ltd. ("WorldLink"). WorldLink is a successful and major Chinese based integrated trading and shipping company, engaged in the import and export business of iron ore, coal and other dry bulk commodities. WorldLink has been marketing North and South American products to China since 2000 which currently includes joint ventures with two Chinese steel mills. By providing Chinese steel companies with access to long term mineral resources, WorldLink has been able to build consolidated marketing channels and relationships with major steelmakers in China, some of which are among the top ten producers in China. WorldLink is building one of the three largest privately owned dry bulk commodities port terminals in China, located in Zhoushan. Phase one will be completed in the second quarter of 2008 with 30 million ton throughput, ramping up to a total of 60 million ton throughput upon completion of the second phase. The Company has agreed to negotiate with WorldLink on future off-take contracts on the iron ore delivered through its Brazil port on commercially reasonable terms.

Michael Beley, President and CEO stated, "We are very pleased to have WorldLink as an investor and strategic partner in the development of Adriana's integrated Brazilian iron ore business plan. WorldLink is Adriana's partner of choice and provides expertise in long-term iron ore sales contracts to steel mills and extensive marine shipping services. Adriana's expertise is in the development and commercialization of mineral resources."

Jian Ming Jimmy Wen, the principal of WorldLink stated, "We believe Adriana's iron ore port site acquisition is a strategic entry point into Brazil's rich iron ore industry. In turn WorldLink will be able to assist in delivering iron ore to our contacts throughout China, including some of the largest steel mills in the world."

Proceeds of the private placement will be used to make the final payment, estimated at $18 million, on the Brazil port site acquisition held by the Company's 75% owned subsidiary, Brazore Holdings Ltd. ("Brazore") and announced on August 22, 2007. Proceeds will also be used for advanced engineering and design of the iron ore port facility, procurement of equipment and vessels, property investigation for iron ore sources in Brazil, as well as

general working capital. The Company's board of directors are evaluating strategic alternatives to unlock shareholder value including a possible spinout of the Brazilian assets and/or the sale or joint venture of certain of the Company's existing projects in Canada and Finland.

On closing of the private placement and simultaneous conversion of the $5 million convertible debenture announced on October 17, 2007, there will be approximately 68,850,000 common shares issued and outstanding. Jian Ming Jimmy Wen, the principal of WorldLink, will indirectly own approximately 12% of the outstanding common shares of the Company on closing. Due to Mr. Wen becoming a deemed insider of the Company, TSX Venture Exchange ("Exchange") approval will be required and Mr. Wen has agreed to reduce his deemed position below 10% should Exchange approval not become forthcoming.

The common shares to be issued in connection with this private placement will be subject to a four month hold period from closing in accordance with Exchange policies and applicable securities laws. The Company anticipates paying finders fees on funds sourced to eligible finders in respect of certain shares placed under the financing.

About Adriana Resources Inc.

Adriana Resources Inc. is a mineral exploration and development company with advanced and early staged mineral projects in Brazil, Finland and Canada. The individuals comprising Adriana's Board have a proven record in identifying and successfully developing mineral deposits through to production. Adriana is focused on developing a world class iron ore port facility in Brazil and bringing our advanced mineral project in Finland to production.

For more information, contact Robert Ferguson at (604) 629-0250 or toll free at 1-877-629-0150 or visit the Company's website at www.adrianaresources.com.

ON BEHALF OF ADRIANA RESOURCES INC.

"Michael J. Beley"
President

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release that address future financings are forward-looking statements. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward looking statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this release.


Suite 1818 - 701 West Georgia St
Vancouver, BC
Canada V7Y 1C6

Telephone: 604.629.0250
Fax: 604.629.0923
Toll Free: 877.629.0150
Email:
info@adrianaresources.com


(TSX-V: ADI)


Nov 14, 2007: News Releases: Adriana Announces $30 Million Private Placement   >Read More

Oct 19, 2007: News Releases: Adriana Signs Proposal for Iron Ore Port Design an...   >Read More

Oct 17, 2007: News Releases: Adriana Announces Closing of $5 Million Financing   >Read More

Oct 11, 2007: News Releases: Adriana Increases Convertible Debenture Financing ...   >Read More


 
 

Adriana Resources Inc.

EXPLORATION STAGE
CODE : ADI.V
ISIN : CA00735P1062
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Adriana Res. is a iron development stage company based in Canada.

Adriana Res. holds various exploration projects in Brazil, in Canada and in Finland.

Its main exploration properties are MUSTAVAARA in Finland, BRAZORE LTDA and MACKENZIE IGNEOUS EVENT in Brazil and UNAD JV in Canada.

Adriana Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 6.3 millions as of today (US$ 5.0 millions, € 4.4 millions).

Its stock quote reached its highest recent level on May 05, 2006 at CA$ 2.03, and its lowest recent point on September 30, 2022 at CA$ 0.04.

Adriana Res. has 157 554 238 shares outstanding.

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Annual reports of Adriana Resources Inc.
2008 Annual Report
Annual Report 2007
Financings of Adriana Resources Inc.
5/22/2011Continues Negotiations
2/15/2011Announces Signing $28 Million Private Placement With WISCO
12/31/2009Announces Flow-Through Private Placement Closing
12/17/2009Announces C$4 Million Flow-Through Financing and New Chairma...
11/15/2007Announces $30 Million Private Placement
Option Grants of Adriana Resources Inc.
9/18/2009Engages Investor Relations Specialists & Grants Incentive St...
8/19/2009Grants Incentive Stock Options
6/16/2009Grants Incentive Stock Options
6/26/2008Grants Incentive Stock Options
Nominations of Adriana Resources Inc.
4/9/2013The Company Appoints a Director, Metallurgical
3/11/2013Announces Resignation of a Director of the Company
2/4/2013The Company Appoints a Director, Environment and Sustainabil...
7/20/2009Appoints Allen J. Palmiere to Board of Directors
11/20/2008Appoints Director of Port Development for Brazil Operations
6/25/2008Appoints Joseph Fodor as Executive Vice President
5/16/2008Appoints Michael Petrina Vice President Operations
4/2/2008Appoints Paul Yeou to the Board of Directors
Project news of Adriana Resources Inc.
10/23/2013(Lac Otelnuk)The Company Awards Feasibility Study Contract for Lac Otelnu...
8/15/2013(Lac Otelnuk)on Corporate Position And Progress on Lac Otelnuk Project
10/22/2012(Lac Otelnuk)Provides Project Update for Lac Otelnuk
3/20/2011(Lac Otelnuk)Announces Assay Results
1/17/2011(Lac Otelnuk) Adriana Announces Strategic Partnership with WISCO
2/12/2009(Lac Otelnuk)Confirms Lac Otelnuk Iron Deposit Over 22.5 Square Kilometre...
1/29/2009(Lac Otelnuk)Commences Resource Estimate at Lac Otelnuk Iron Project
11/25/2008(Lac Otelnuk)Completes 2008 Exploration Program At Lac Otelnuk Iron Proje...
7/9/2008(Lac Otelnuk)Drills 1,730 Meters at Lac Otelnuk; Completes Geophysics on ...
6/4/2008(Lac Otelnuk)Commences 2008 Diamond Drill Program on the Company's 100% O...
5/29/2008Reaches Milestone in Brazil Port Permitting
4/3/2008(Lac Otelnuk)Reports Results at Lac Otelnuk - Drills 95.8m of 30.4% Fe
2/19/2008(Lac Otelnuk)Announces Update on Lac Otelnuk Drill Program
1/10/2008(Brazore Ltda) Completes Purchase of Brazilian Port Land; Achieves First P...
Corporate news of Adriana Resources Inc.
5/30/2016Adriana Files Financial Statements for the Quarter Ended Mar...
5/9/2016Adriana Provides Shareholder Update
4/1/2016Adriana Announces Change Of Director And Change Of CFO
3/31/2016Adriana Announces Change of Director and Change of CFO
2/26/2016Adriana Files Annual Financial Statements Ended December 31,...
1/4/2016Adriana Funds the Lac Otelnuk Joint Venture beyond 2020
11/6/2015Adriana Files Third Quarter Financial Statements Ended Septe...
8/6/2015Adriana Files Second Quarter Financial Statements ended June...
4/23/2015Adriana announces that it has filed a NI 43-101 Technical Re...
4/23/2015Adriana announces completion of the Feasibility Study on the...
4/22/2015Adriana Announces Completion of the Feasibility Study on the...
3/6/2015Vista Partners Publishes March 2015 Macroeconomic & Investme...
2/26/2015Adriana Files Financial Statements for the Year Ended Decemb...
2/6/2015Vista Partners Publishes February 2015 Macroeconomic & Inves...
11/6/2014Adriana Files Third Quarter ended September 30, 2014
10/21/2014Adriana Announces its Participation in Feasibility Study for...
9/18/2014Adriana Grants Incentive Stock Options
8/8/2014Adriana Files Second Quarter Ended June 30, 2014
7/3/2014Vista Partners Publishes July 2014 Macroeconomic & Investmen...
6/17/2014Adriana Grants Incentive Stock Options
5/8/2014Adriana Announces Results of the Financial Quarter ended Mar...
4/4/2014Vista Partners Publishes April 2014 Macroeconomic & Investme...
10/30/2013Announces Completion of Mineral Resource Estimate
4/13/2011(Lac Otelnuk)Announces Positive Preliminary Economic Assessment on Lac Ot...
1/25/2011Adriana Res. announces grant of 947.500 incentive options at...
12/1/2009BNN - Chinese Demand For Iron Ore - Interview with Adriana C...
11/25/2009Announces Management and Board Changes
8/17/2009Announces Approval Of Amended Arcelormittal Convertible Debe...
7/24/2009Enters into Memorandums of Understanding with a Major Chines...
6/1/2009ArcelorMittal Extends Port Agreement with Adriana
3/9/2009& Stock Research Portal
1/6/2009Arcelormittal Extends Port Agreement with Adriana
11/12/2008Goldbard Cancels Agreement to Acquire MIE Metals Corp.
11/5/2008Iron sector hit by global slowdown
9/12/2008Closes $10 Million Financing
9/10/2008Goldbard Enters Agreement to Acquire MIE Metals Corp.
8/25/2008featured in the Globe and Mail
8/20/2008Partners With ArcelorMittal
8/11/2008Announces $2 Million Financing
7/2/2008We're Moving!
6/20/2008featured in Global Mining Finance
5/9/2008 Shareholders Approve Shareholder Rights Plan
5/9/2008Announces Dr. Anthony Patriarco Joins Board of Directors
4/8/2008 Adopts Shareholder Rights Plan
3/25/2008 Acquires Labrador Trough Iron Prospect
2/20/2008 Signs Letter of Intent with Makivik Corporation
2/14/2008Announces Brazilian Iron Ore Focus and Project Spin-Out
1/15/2008 Announces Conversion of Convertible Debentures
11/22/2007 Closes First Tranche of $30 Million Financing; Exercises Po...
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TSX-V (ADI.V)OTHER OTC (ANARF)
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