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ADI

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Share Name Share Symbol Market Type
TSXV:ADI TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Lac Otelnuk Property-Limited Notice to Proceed

27/02/2013 1:30pm

Marketwired Canada


Adriana Resources Inc. ("Adriana") - (TSX VENTURE:ADI) is pleased to announce
the award of a Limited Notice to Proceed ("LNTP Agreement") to SNC-Lavalin Inc.
("SNC-Lavalin"), for Lac Otelnuk Mining Ltd. ("LOM" or "Company"). Adriana owns
40% of LOM which is a joint venture company with WISCO International Resources
Development & Investment Limited ("WISCO") which in turn holds the Lac Otelnuk
Property in Nunavik, Quebec. 


Under the LNTP Agreement, SNC-Lavalin will review production options, proceed
with a metallurgical evaluation, and conduct trade-off studies. LOM and
SNC-Lavalin are currently discussing a definitive agreement which, if executed
by both parties, would provide for the preparation by SNC-Lavalin of a
Feasibility Study ("FS") for the Lac Otelnuk Property. Allen J. Palmiere,
President & CEO, said "SNC-Lavalin is a recognized leader in the industry and
with the company's expertise, we are confident that we can move this project
forward. The LNTP Agreement is welcome news for the Company and I anticipate an
exciting year ahead."


ON BEHALF OF ADRIANA RESOURCES INC.

Allen J. Palmiere, President and CEO

Certain information regarding Adriana and LOM, may constitute forward-looking
statements under applicable securities laws and necessarily involve known and
unknown risks and uncertainties. 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. 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Adriana Resources Inc.
Allen Palmiere
President & CEO
416-363-2200
apalmiere@adrianaresources.com


Adriana Resources Inc.
Connie Dos Santos
Director, Investor Relations
416-363-2200
cdossantos@adrianaresources.com
www.adrianaresources.com

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