Adriana Closes First Tranche of $30 Million Financing; Exercises Port Option Agr

In connection with the private placement, a finder's fee was paid in the amount of 909,090 common shares at a deemed price of $1.10 per share, representing 5% of the gross proceeds raised.

As a result of closing this private placement, Mr. Jian Ming Jimmy Wen, the principal of WorldLink, indirectly owns approximately 14% of the outstanding common shares of the Company, which deems him an insider of the Company. As Mr. Wen's investment is subject to approval by the TSX Venture Exchange (the "Exchange"), he may be required to divest all of holdings in the Company should Exchange approval not be forthcoming. The common shares issued in connection with this private placement are subject to a four-month hold period in accordance with applicable securities laws, expiring on March 17, 2008.

The Company stated its intention to raise a total of $30 million by private placement. The $10 million balance is expected to be raised through a brokered private placement and details will be provided by a subsequent news release.

Proceeds of this private placement will be used to make the final payment on the acquisition of the Brazil port site, estimated at $18 million plus applicable property transfer taxes, and for advanced engineering and design of the iron ore port facility, procurement of equipment and vessels, property investigation for iron ore sources in Brazil, as well as general working capital.

About Adriana Resources Inc.

Adriana's goal is to become an integrated iron ore producer in Brazil through continued development of its iron ore port facility and through potential acquisition of iron ore mineral resources. Adriana has mineral exploration projects in Nunavut, Canada, an advanced iron ore project in Quebec, Canada and is advancing an iron-vanadium development project in Finland. The individuals comprising Adriana's Board have a proven record in identifying and successfully developing mineral deposits through to production.

ON BEHALF OF ADRIANA RESOURCES INC.

Michael J. Beley, President

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release that address future financings are forward-looking statements. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.