December 19, 2011, Adriana Resources Inc. ("Adriana", TSX-V: ADI), ADI Mining Company, Wuhan Iron and Steel International Resources Development & Investment Limited and Wuhan Iron and Steel Canada ADI International Resources Development & Investment Limited ("WISCO") entered into a joint venture agreement to incorporate LAC OTELNUK Mining Company engaging in development and operation of Lac Otelnuk and December Lake iron ore properties.

The measured mineral resources of the iron ore properties is approximately 4.2 billion tons. The first phase investment of WISCO will reach CAD120 million.

Jingtian & Gongcheng acted for Adriana on the PRC law.