Adriana Resources Inc 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 and 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.