Adriana Announces Brazilian Iron Ore Focus and Project Spin-Out
Adriana
Resources Inc. ("Adriana" or the "Company") - TSX-V:
ADI is pleased to announce the Company
is restructuring to focus on becoming a fully integrated iron ore producer.
The Company has purchased a total of 771,818 square meters of land on the
coast of Brazil for the development of an iron ore port facility (the
purchase of the adjacent Lot 3 comprising 85,757 square meters is expected
to be completed during the first quarter of 2008.). The Company has
developed key strategic relationships and established a world-class team of
mining, port engineering, shipping and iron ore trading professionals to
assist in advancing the Brazilian iron ore strategy. Adriana has commenced
the engineering and permitting required to develop a port facility
initially capable of handling 5 million tonnes per year of iron ore,
ramping up to 50 million tonnes by year five through the accelerated
development of a deep water port facility.
Adriana is in discussions for the construction of two 15,000 tonne
Self-Unloading Transport Vessels ("STV's"), which will be used at
the port facility to transport ore at an initial annual production rate of
5 million tonnes, ramping up to twenty million tonnes of iron ore per year.
A corporate video is available on Adriana's website (www.adrianaresources.com) and provides an overview of the planned port facility.
Adriana's strategic relationship with Seabulk Systems ("Seabulk"
- www.seabulk.com) and WorldLink Resources Ltd. ("WorldLink"
- www.worldlink-group.com) has created a vertically integrated alliance for
the delivery of iron ore from Brazil to China and Europe. Seabulk, a world
leader in the development of large scale bulk mineral systems, port
development and shipping solutions will be a key manager in the
construction of the STV's and development of the Brazilian port facility. WorldLink,
a private Chinese based integrated trading and shipping company, engaged in
the import and export business of iron ore, coal and other dry bulk
commodities will assist in the shipping of iron ore to China and in the
development of off-take contracts with the end users in China, Asia and
Europe.
Adriana
is well positioned to capitalize on the restricted and captive iron ore
market by offering a short and long term solution to the current and future
Brazilian iron ore miners and end users, noting all existing port
facilities are running at full capacity. Adriana plans to provide the
solution to transport iron ore from within Brazil to China, Asia and Europe
to meet the surging demands for iron ore in the steel industry. The
majority of iron ore that will be processed through the port is anticipated
to originate from the Iron Quadrangle region of Brazil, which is situated
just north of Rio de Janeiro in Brazil and contains some of the largest and
highest grade underdeveloped iron ore deposits in the world.
Iron Ore Projects
The Company is presently evaluating iron ore projects based in Brazil with
a view to obtaining an interest in iron ore development projects or mines.
The Company's Lac Otelnuk Iron Project located in Quebec, Canada is another
key project that is expected to bring longevity to the iron supply side of
the Company. The Company expects to be able to announce an update on the
project in the near future detailing results from the drilling program that
was completed in the fall of 2007. The Company is also investigating
various opportunities to maximize shareholder value with the Mustavaara
Vanadium-Iron-Titanium Project in Finland.
Project Spin-Out
Adriana has received board approval to spin out the MIE (Copper - Nickel -
Platinum Group Elements) and the Bear Valley (Uranium) advanced exploration
projects directly or indirectly into a new company to be named MIE Metals
Corporation. The Company intends to list and have the shares trade on the
TSX Venture Exchange. Shareholders of Adriana are intended to receive
shares of the new company by way of a dividend-in-kind transaction which,
in the discretion of the Company will be structured in the manner
determined in consultation with the Company's legal, financial and tax
advisers.
About Adriana Resources Inc.
Adriana's goal is to become a fully integrated iron ore producer in Brazil
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.
For more information, contact Robert Ferguson or Ali Sinawi at (604)
629-0250 or toll free at (877) 629-0150 or visit the Company's website at
www.adrianaresources.com.
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 adequacy or accuracy of
this release.

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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)
 
Feb 14, 2008: News Releases: Adriana Announces Brazilian
Iron Ore Focus and Pro... (more...)
Jan 17, 2008: News Releases: MIE Project Update (more...)
Jan 15, 2008: News Releases: Adriana Announces Conversion
of Convertible Debent... (more...)
Jan 10, 2008: News Releases: Adriana Completes Purchase of
Brazilian Port Land;... (more...)
 




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