Adriana Resources Inc. ("Adriana" or the "Company") - (TSX VENTURE:ADI) is
pleased to announce that it has received positive results from a Preliminary
Economic Assessment ("PEA"), for a 50 million tonne per annum operation on the
Lac Otelnuk Iron Ore Project located in Nunavik, Quebec. The PEA was completed
by Met-Chem Canada Inc. ("Met-Chem") using Watts, Griffis and McOuat Limited's
("WGM") Mineral Resource estimate, previously released in a Technical Report
dated May 7, 2009. The National Instrument ("NI") 43-101 Technical Report on the
Preliminary Economic Assessment will be available under the Company's SEDAR
profile at www.sedar.com and has an effective date of April 8, 2011.


The key parameters and results of the study are as follows:



Iron Price:               US$100 per tonne of Pellets FOB Sept-Iles,        
                          approximately equivalent to a spot price of       
                          concentrate FOB Sept-Iles of $80 per tonne        
                                                                            
Discount rate:            8%                                                
                                                                            
Annual Production:        50 million tonnes per year of pellets at a grade  
                          of about 67.5% Iron.                              
                                                                            
Net Present Value:        $15.2 billion                                     
                                                                            
Internal Rate of Return:  20%                                               



The project as contemplated includes mining and concentrating an average of 175
million tonnes of iron mineralization per year, pelletizing 50 million tonnes of
concentrate, constructing an 815 kilometer railway and constructing the
necessary port capacity to accommodate Chinamax ore carriers. The total capital
cost of the project is estimated to be $12.9 billion with the mine complex being
$7.9 billion, the railway $2.7 billion and the port estimated to be $0.6
billion. The railway right of way will run through the Province of Quebec and
will be the subject of a negotiation with the Government of Quebec. The mine
life based on the WGM Mineral Resource Estimate is approximately 34 years and
the projected cash cost per tonne of pellets FOB port is approximately $32 per
tonne potentially making this a low cost producer. The project will be subject
to the normal environmental and permitting process as dictated by the
jurisdictions within which the project is located. The studies and permit
application process will commence with the planned feasibility study.


As announced January 17, 2011, Adriana has entered into a Binding Framework
Agreement with WISCO International Resources Development & Investment Limited
"WISCO" with respect of an investment into Adriana and an investment into the
Lac Otelnuk Project. The investment into Adriana was completed in March (see
press release dated March 23, 2011) and negotiations are ongoing with respect of
the investment into the Project. Subject to the closing of a definitive
agreement for the investment in the Project, a definitive feasibility study is
planned to commence during 2011.


Allen J. Palmiere, CEO of Adriana stated "We are encouraged by the robust
economics demonstrated by the Preliminary Economic Assessment for the Lac
Otelnuk Project. The possible combination of a strong strategic partner and
robust economics provides the ability to realize upon the value represented by
the largest iron ore deposit in Canada. Lac Otelnuk has the potential of being
the largest mining project in Canadian history and the largest private
investment in the history of Quebec. We are excited about the future and look
forward to advancing the project."


Mineral resources that are not mineral reserves do not have demonstrated
economic viability. The preliminary assessment includes inferred mineral
resources that are considered too speculative geologically to have the economic
considerations applied to them that would enable them to be categorized as
mineral reserves, and there is no certainty that the preliminary assessment will
be realized.


"Mr. Andre Boilard, PMP, Eng, of Met-Chem Canada Inc., an independent Qualified
Person ("QP") in accordance with NI 43-101 Standards of Disclosure for Mineral
Projects and has reviewed and is responsible for the technical disclosure
presented in this news release."


ON BEHALF OF ADRIANA RESOURCES INC.

Allen J. Palmiere, President and CEO

Certain information regarding the Company, including the results of the
Preliminary Economic Assessment and the completion of the definitive joint
venture agreement with WISCO 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, completion of due
diligence to the satisfaction of WISCO, approvals of the government of China,
approval of the TSX-V, changes in the world wide price of mineral commodities
and currency fluctuations, general market conditions, and 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.