Adriana Grants Incentive Stock Options
TORONTO, ONTARIO -- (Marketwire) -- 09/20/10 -- Adriana Resources Inc. ('Adriana' or the 'Company') (TSX VENTURE: ADI) announces that it has granted options to certain employees of the Company entitling them to purchase an aggregate of 250,000 common shares of the Company, pursuant to the Company's Share Option Plan approved by the shareholders. Each option entitles the holder thereof to purchase one common share at a price of $0.325 per share for a period of five years subject to vesting restrictions over a period of 18 months.
Adriana is currently focused on the advancement of its Lac Otelnuk world-class iron ore deposit located in the Labrador Trough, Nunavik, Quebec.
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.
Contacts:
Adriana Resources Inc.
Connie Dos Santos
(416) 363-2200
cdossantos@adrianaresources.com
www.adrianaresources.com