Adriana Reaches Milestone in Brazil Port Permitting
Adriana Resources Inc. (the "Company" or "Adriana") - TSX-V: ADI, WKN: A0F7EL is pleased to announce that it has received the "Terms of Reference" ("Terms") from the Brazilian Environmental Regulatory Body ("FEEMA") of the State of Rio de Janeiro, Brazil. On May 28, 2008, FEEMA announced in the Official Gazette that it has provided the Terms to Adriana's Brazilian environmental consultant, Acioli Pimentel Servi�os de Engenharia Ltda. ("Acioli Pimentel"). The Terms outline the requirements that the Company must meet in order to receive the Environmental Impact Statement related to the construction of a port facility in Sepetiba Bay, approximately 70 kilometres west of Rio de Janeiro, Brazil.
Michael Beley, President and CEO of the Company stated, "This is a significant milestone in advancing our port project. The Terms indicate in principle, Adriana's concept of building a port facility on our wholly-owned port site has been accepted. Adriana believes all requirements identified by FEEMA are achievable and the Company is now aggressively moving forward in fulfilling the Terms. We believe Brazil is in great need of a new iron ore port facility due to the bottleneck within Brazil that currently restricts many iron ore miners from accessing the global steel market."
Adriana's goal is to construct an iron ore port facility that will initially operate at a transshipment capacity of 5 to 10 million tonnes per year and ramp up to a potential 50 million tonnes per year through the development of a deep sea terminal. A significant number of independently owned iron ore mines, along with iron ore deposits and mines recently purchased by major mining companies, have limited or no access to port facilities. Adriana continues to discuss opportunities to develop strategic working relationships with these parties to maximize the potential of the port facility.
Acioli Pimentel is engaged to prepare the Environmental Impact Statement ("EIS") as part of the licensing process in Brazil. The EIS will include the environmental impact on the land and the coastal waters where the proposed port facility will operate, and focus on the effects of dredging the operating areas for the vessels as well as the impact on the environment by the land installations. The study will also identify possible mitigation and compensation measures that the Company may be required to comply with in connection with the construction of the port facility.
About Adriana Resources Inc.
Adriana's goal is to become a fully integrated iron ore producer 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 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)
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