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Adriana Resources Inc.
("Adriana" or "the Company") - (TSX VENTURE:ADI - News) wishes to clarify
reports from media sources originating from China that the Company has
entered into a preliminary agreement with Wuhan Iron and Steel for the
development of the Lac Otelnuk project in northern
Quebec. The Company has been in discussions with potential joint venture
partners, however at this time the Company has not entered into a binding
agreement for the development of the project. Discussions are continuing and
should they result in a definitive agreement, the Company will make the
appropriate disclosure.
Adriana will continue to focus on
developing strategic relationships with third parties to advance our Lac Otelnuk Property located in the Labrador Trough, Nunavik, Quebec and to maximize the potential of the
deep-sea port facility located in the state of Rio de Janeiro, Brazil.
ON BEHALF OF ADRIANA RESOURCES INC.
Allen J. Palmiere,
President and CEO
Certain information regarding the
Company, including the Company's plans to increase and upgrade mineral
resources and management's assessment of future plans and operations, may
constitute forward-looking statements under applicable securities laws and
necessarily involve known and unknown risks and uncertainties. Without
limitation, statements relating to potential mineralization and resources,
exploration results, mining and development, future plans and objectives of
the Company and imprecision of mineral resources estimates, are
forward-looking statements that involve various degrees of risk. 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, risks
inherent in mineral exploration, development, construction and mining
operations, delays in obtaining or failures to obtain required governmental,
environmental or other project approvals, environmental risks, access to labour and services and competition from other companies.
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:
Connie Dos Santos
Adriana Resources Inc.
416-363-2200
cdossantos@adrianaresources.com
www.adrianaresources.com |
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