Mr. Allen Palmiere reports

ADRIANA ANNOUNCES COMPLETION OF MINERAL RESOURCE ESTIMATE

Adriana Resources Inc. has completed a new National Instrument 43-101 Standards of Disclosure for Mineral Projects mineral resource estimate using information from the historic and most recent drilling programs on its 40-per-cent-owned Lac Otelnuk project. Adriana owns 40 per cent of Lac Otelnuk Mining Ltd., which is a joint venture company with WISCO International Resources Development & Investment Ltd., which in turn holds the Lac Otelnuk property in Nunavik, Quebec.

A significant diamond drilling effort was carried out at the Lac Otelnuk project in 2012. The main goals of the program were to complete infill drilling in the north part of the defined mineral resource area (previously named North zone) on a 600-metre-by-500-metre grid to upgrade the resource categorization and to accurately define the limits of the Main zone (previously named the South zone) of the deposit by extending the up-dip mineralization to surface along the western margin of the mineralization. From May to mid-December, 2012, 157 BQ delineation holes totalling 18,508 m were drilled to expand and upgrade the Mineral Resource. An additional 18 PQ holes totalling 1,957 m were also drilled to obtain a 33-tonne bulk sample for metallurgical testing. Since 2007, Adriana and Lac Otelnuk Mining Ltd. have drilled a total of 392 diamond drill holes totalling 50,802 metres on the Lac Otelnuk property. The estimate was completed by Watts, Griffis and McOuat Ltd., consulting geologists and engineers of Toronto. The results show that the measured and indicated mineral resources have increased to 20.64 billion tonnes, representing an increase of approximately 82 per cent compared with the estimate of August, 2012, based on a Davis Tube weight recovery cut-off grade of 18 per cent.

The total iron (head iron analysis), DTWR and Satmagan results (head magnetic iron) are shown in the table.

     CATEGORIZED MINERAL RESOURCE ESTIMATE FOR LAC OTELNUK PROJECT 
                    (CUT-OFF OF 18 PER CENT DTWR)

Resource                    Tonnes      TFe head          DTWR   Magnetic Fe
classification       (in billions)             %             %             %

Measured                     16.21          29.3          25.8          17.8
Indicated                     4.43          31.5          24.1          16.7
                             -----          ----          ----          ----
Total M&I                    20.64          29.8          25.4          17.6
Inferred                      6.84          29.8          26.3          17.8
                                                                            
Notes: 
1. Interpretation of the mineralized zones were created as 3-D wireframes/
solids based on logged geology and a nominal 10 per cent DTWR when required.
2. Mineral resources were estimated using a block model with a block size of 
50 metres by 50 metres by five metres.                                          
3. No grade capping was done. Tonnages and grades reported above are 
undiluted.                                                       
4. Assumed Fe concentrate price was $110 (U.S.) per dry metric tonne.
5. Mineral resources which are not mineral reserves do not have demonstrated 
economic viability. There is no certainty that all or any part of the 
mineral resource will be converted into mineral reserves. The estimate of 
mineral resources may be materially affected by environmental, permitting, 
legal, title, socio-political, marketing or other relevant issues.
6. The quantity and grade of reported inferred mineral resources in this 
estimation are uncertain in nature and there has been insufficient 
exploration to define these inferred resources as an indicated or measured 
mineral resource and it is uncertain if further exploration will result in 
upgrading them to an indicated or measured mineral resource category.
7. The mineral resources were estimated using the Canadian Institute of 
Mining, Metallurgy and Petroleum Standards for Mineral Resources and 
Reserves, Definitions and Guidelines prepared by the CIM standing committee 
on reserve definitions and adopted by CIM council Dec. 11, 2005.

The estimate was completed using an inverse distance to the power of one method. In general, measured mineral resources are defined as blocks being within 400 metres of a drill hole intercept, indicated mineral resources are defined as blocks from 400 metres to 600 metres from a drill hole intercept and inferred mineral resources are defined as blocks more than 600-metre distance from a drill hole intercept and interpolated out to a maximum of approximately 1,000 metres, where the drilling is more sparse, predominantly in the deeper parts of the deposit. This categorization was used specifically in the Main zone area of the deposit and directly to the north of this area where more infill drilling was completed during the most recent drilling program.

Michael W. Kociumbas, PGeo, vice-president of WGM, and Richard Risto, PGeo, are independent qualified persons in accordance with National Instrument 43-101. Mr. Kociumbas has reviewed and is responsible for the mineral resources presented in this news release. WGM has previously visited the site, collected independent core samples and reviewed the quality assurance/quality control data received to date. Mr. Risto has reviewed and approved the underlying sampling, analytical and test data used for the estimate.

The company has also completed the geotechnical drilling and test pitting programs for the tailings management facility, process plant, air strip, and construction material borrow sources. In addition, the hydrogeological and rock mechanical holes for the design of open pit have been completed. An 80-tonne bulk sample was extracted and the pilot plant testing is in progress.

Allen J. Palmiere, president and chief executive officer, said: "We are very proud of the work our team has completed to date and with the progress we have made this year with SNC-Lavalin's expertise on our project. We will continue to move the project forward and look forward to an exciting year ahead."

We seek Safe Harbor.