Forward Looking Statement

Transcription

1 Corporate Presentation May 2009

2 Forward Looking Statement Certain statements herein may contain forward-looking information within the meaning of applicable securities laws. Forward-looking information appears in a number of places and can be identified by the use of words such as intends or variations of such words and phrases or statements that certain actions, events or results may, could, would, might or will be taken, occur or be achieved. Forward-looking information includes statements regarding the Company s exploration and development plans with respect to its properties and the estimation of mineral resources and are subject to such forward-looking risks, uncertainties and other factors which may cause the Company s actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such risks include metal price volatility, change in equity markets, the uncertainties involved in interpreting geological data, permitting and environmental, increase in costs and exchange rate fluctuations and other risks involved in the exploration and development industry. There can be no assurance that forward-looking information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond the control of Adriana Resources. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information herein are qualified by this cautionary statement. The Company does not undertake to update such forward-looking information except in accordance with applicable securities laws. 2

3 Corporate Highlights Iron Ore Port Development Opportunity in Brazil Advancing permitting, reviewing engineering, and assembling team to construct a 20 Mtpa transshipment port facility with opportunity to expand to a deep sea terminal allowing annual throughput to increase up to 50+ Mtpa Provides necessary short term solution to Brazil s port infrastructure bottleneck; will assist Brazilian iron ore companies access the global iron ore markets Currently reviewing opportunities to secure iron ore resources in Brazil Significant iron ore deposit identified at the Lac Otelnuk Project in Québec, Canada; 4.29 Billion Tonnes Indicated, 1.97 Billion Tonnes Inferred at ~29% Fe (NI Mineral Resource Estimate by WGM) Assembled experienced executive management team, engineering & port design professionals and global shipping/logistics group to advance projects Strategic partnerships developed with ArcelorMittal*, Worldlink Resources Ltd., Athena Resources LLC and Seabulk Systems Inc. Note: *On August 20, 2008 Adriana reached an agreement (MOU) with ArcelorMittal on the principal terms for the development of an iron ore port facility on the lands that were acquired by Adriana in January 2008; The Agreement is subject to applicable regulatory and corporate approvals and the negotiation and execution of a definitive agreement by the parties. Full details available in press release dated August 20,2008 and on corporate website. 3

4 Vision To become a fully integrated iron ore producer through continued development of its iron ore port facility in Brazil, through acquisition of iron ore mineral resources in Brazil, and the advancement of its iron ore projects in Québec, Canada. 4

5 Iron Ore Projects Québec, Canada Lac Otelnuk and Bedford Asia Vancouver, Canada Corporate Head Office North America Europe Rio de Janeiro, Brazil Brazil Office Iron Ore Port Project 5

6 Adriana Structure Québec Projects Frank Condon Adriana Resources Mineração Ltda. Dr. Joe Griebel 100% Brazore Resources Canada Athena Resources L.L.C. Up to 100% 100% 60% (up to 75%) Brazore Holdings Barbados 40% (Down to 25%) Note: *On August 20, 2008 Adriana reached an agreement (MOU) with ArcelorMittal on the principal terms for the development of an iron ore port facility on the lands that were acquired by Adriana in January 2008; The Agreement is subject to applicable regulatory and corporate approvals and the negotiation and execution of a definitive agreement by the parties. Full details available in press release dated August 20,2008 and on corporate website. 97% Brazore Ltda. Guilherme Andrade 6

7 Experienced Management Team Michael Beley, President & CEO 40 + years experience in senior executive roles in mining industry; former co-founder, VP & Director of Eldorado Gold Corp.; former co-founder, VP & Director of Bema Gold Corp.; co-founder of Polaris Minerals; and former Director of Nevada Pacific Gold Richard Barclay, CFO & Managing Director 40+ years experience in senior executive roles in financial sector; former founding CEO, President, & Director of Eldorado Gold Corp.; former co-founder, CFO and Director of Bema Gold Corp.; and former President, CEO & Director of Nevada Pacific Gold Joseph Fodor, LLB, MBA Executive VP 30+ years international experience in senior executive positions with various financial institutions, and public and private companies; extensive experience in legal and corporate finance, specializing in structuring domestic and international infrastructure projects; previously with Watershed Capital Partners, Norfolk Capital Partners, CIT Group, Nova Bancorp Frank Condon, P.Eng., Director of Québec Operations, Director 35 years in various positions with Noranda (1964 to 1999), including General Manager, Hopewell Phosphate Corp (1976 to 1986) where he was responsible for the acquisition, evaluation and development of the Hopewell Phosphate Mine Guilherme de Andrade, Director Port Development, Brazore Ltda. 25+ years of port development, operations, logistics, and commercial and administration expertise, most recently with Companhia Siderúrgica Nacional ( CSN ) as the Terminal Operations Manager at the Port of Itaguai in the State of Rio de Janeiro, Brazil and as Terminal Manager for Alumina do Norte S.A, a subsidiary of VALE Dr. Joe Griebel, President Adriana Mineração Ltda. 35+ years of international exploration experience (18 years in South America); former President of Inco Brasil Limitada until take over by CVRD; former Senior VP of Exploration for Eldorado Gold managing all of Eldorado's international exploration activities; responsible for iron ore resource acquisition strategy within Brazil Michael Petrina, P.Eng., MBA, VP Operations 25+ years experience in senior management, operational and consulting roles for such companies as Adanac Molybdenum Corporation, Pan American Silver Corporation, Miramar Mining, TVX Gold, and Kilborn Engineering Pacific Ltd. 7

8 Brazil Iron Ore Strategy Iron Ore Port Facility, State of Rio de Janeiro, Brazil Short Term: Develop 20 Mtpa capacity Transshipment Operation Medium Term: Expand to 50+ Mtpa capacity deep water terminal 8

9 Initial Transshipment Route Brazore s Port Site MRS Rail Line to Iron Quadrangle Strategic Location Brazore s port site is located on coast of Brazil 70 km west of Rio de Janeiro (Sepetiba Bay) MRS Railway runs directly through north edge of Brazore s port site Site is suitable for port facility with an annual throughput up to 50+ Mt of iron ore 9

10 Deep Sea Terminal Expansion Benefits Opportunity to develop Port to handle in excess of 50+ Mtpa iron ore Minimum impact and sensitive to environment due to underground / water tunnel and conveyor proposal Access to deep water location (20+ metres depth) and minimizes bottleneck on shipping lanes/channel Allows access to iron ore shipping vessels (+250,000dwt) Multi-generational development /infrastructure project and employment opportunity 10

11 Brazil Iron Ore Strategy Iron Ore Resources - Iron Quadrangle, State of Minas Gerais, Brazil Potential: ~10 Billion tonne resource in multiple high grade deposits (~45% to 65% Fe)» Develop strategic partnerships to acquire and develop iron ore resources to feed Brazore Port Facility to deliver to steel mills around the world» Deliver product to domestic market for feed in blast furnaces and/or pig iron producers MRS Rail Line Infrastructure Transportation corridor direct link from Iron Quadrangle to Sepetiba Bay : location of Brazore s port site 11

12 Project Milestones Acquired Strategic Port Site Lots Purchased coastal industrial vacant lots on the mainland and strategic lots on the adjacent Itacuruçá Island Development of Strategic Relationships/Partnerships ArcelorMittal, Worldlink Resources Ltd., Athena Resources LLC, Seabulk Systems Inc. Permitting Environmental, engineering, legal and socio-economic consultants have been contracted to complete all documentation and permitting requirements and will assist Brazore in creating the appropriate action and timelines for advancing the Port 12

13 Expenditures To-Date Since 2007, Brazore has expended approximately R$60M in the State of Rio de Janeiro and other locations in Brazil towards: Evaluation and purchase of coastal industrial vacant lots on the mainland and strategic lots on the adjacent Itacuruçá Island Advancement of environmental and engineering studies Evaluation of iron ore resources Establishment of a full-time, fully staffed Brazilian office in Rio de Janeiro 13

14 Potential Benefits Significant capital investment over two phases of construction in the State of Rio de Janeiro and Brazil Generation of 350 direct jobs and 1,100 indirect positions Increases in wages and incomes throughout the region, fostering the development of the population and local trade Better quality of life for nearby communities, with new schools, clinics and recreation options Increase of GDP in the State of Rio de Janeiro State Facilitation for current restricted independent mining companies to access world markets through an independent port facility 14

15 Potential Development of Port Facility Transshipment Facility Engineering/Permitting STVs (2) Fabrication* Port Construction Transshipper (1) Fabrication 1Q Q 3Q 4Q 1Q 2Q 3Q 4Q 1H 2H 1H 2H 1H 2H ~$225M Expansion to Deep Sea Terminal (50+ Mtpa) Engineering/Permitting Expansion on Onshore Terminal Conveyor (4km) Tunnel (4km) Facilities/Office Deep See Terminal ~$525M ~$750M * Each set of two STVs allows production rate of 5 Mtpa; Each transshipper allows an additional 5 Mtpa; therefore two STVs and one Transshipper = approximately 10 Mtpa production rate 15

16 The Iron Ore Source Brazore is looking to develop relationships with local independent iron mine operations (highlighted in purple) to export iron ore through its proposed iron ore port facility ArcelorMittal The Iron Quadrangle of Minas Gerais contains in excess of 10 billion tonnes high grade iron ore that could provide years of annual throughput at Brazore s Port Facility 16

17 Brazil - Going Forward Complete permitting and engineering of 20+ Mtpa iron ore port facility in 2009 under the guidance of Guilherme de Andrade Continue to review opportunities to secure iron ore resources in Brazil under the guidance of Dr. Joe Griebel Review opportunity to expand the capacity of the port to include a deep sea terminal allowing annual throughput to increase up to 50+ Mtpa Continue to develop strategic relationships with local producers for future iron ore exports to global markets 17

18 Lac Otelnuk Iron Project Lac Otelnuk Iron Project Nunavik, Québec Located in Nunavik, Québec 160 km north of Schefferville 250 km south of Kuujjuaq 18

19 Lac Otelnuk NI Mineral Resource Estimate Strategic Resource Located in Nunavik, Québec 160 km north of Schefferville 250 km south of Kuujjuaq 2009 Summary of Mineral Resource Estimate (South Zone only) (using a Davis Tube Weight Recovery ( DTWR ) cut-off grade of 18%) Resource Classification Tonnes (in billions) %Fe Head DTWR % % SiO 2 %Fe DTC Indicated Inferred The mineral resource estimate was completed by Watts, Griffis and McOuat Limited ( WGM ), a geological and engineering consulting firm based in Toronto, Canada. WGM is currently preparing the NI Technical Report on the property, which will be filed on SEDAR ( within 45 days from March 23, WGM has visited the site, collected independent core samples and reviewed all the QA/QC data received to date. Mr. Frank Condon, P.Eng., a director of the Company and a QP as defined by NI , has reviewed and approved the technical disclosure above. 19

20 Lac Otelnuk Iron Project Drilling has outlined iron mineralization over a 9 x 2.5 km area in the South Zone (up to ~100m thick in places) 20

21 Southern Infrastructure Concept In 2006, Adriana contracted MET CHEM to carry out a preliminary cost estimate analysis for the transportation of concentrate from Lac Otelnuk to Sept. Isles: Reviewed both rail and pipeline options Included the development of a pellet plant and port installation at Sept. Isles 21

22 Northern Infrastructure Concept In 2007, Adriana began investigating a second option by using a northern transport corridor to export iron ore. This option has several benefits over the southern route including a single regulatory jurisdiction, potenitally less capital intensive, limited competition.» Possible transportation corridor for Rail, Road, Pipeline» Prospective hydro electric sites» Deep Sea Port opportunity for year-round access to global markets» Falls within Plan Nord concept 22

23 Lac Otelnuk Iron Project Highlights Exploration Progress, Geology, Mineralogy and Metallurgical Results 2007/ Completed 67 drill hole program over 9km x 2.5 km area in South Zone Q1/09 - National Instrument Mineral Resource Estimate completed Low stripping ratio - Exposed at surface, thick flat lying deposit Simple process flowsheet for concentrate - (magnetic separation: 67-69% Fe) Low impurity levels (ie. P, Cr, S, V, Ti) Community Relations Signed LOI with the Inuit Economic Development Group Makavik Corporation Created Steering Committee with community, local and regional government bodies Presented Lac Otelnuk Infrastructure Concept to Quebec Government to assist with Plan Nord - Quebec Government s election platform for northern economic development Infrastructure Development Studies Completed preliminary cost estimate analysis for transport of concentrate to market MET CHEM Completed initial engineering review of potential northern deep water port and shipping opportunity Seabulk Systems Inc. Hydro Quebec completed studies for multiple hydro electric sites adjacent to project 23

24 Québec - Going Forward Continue to promote the project to governments for infrastructure development support ( Plan Nord ) Meet with five senior government ministers from the Québec government in late April 2009 Study options to develop transportation corridor and iron ore shipping terminal near Kuujjuaq, Québec Develop strategic partnerships for mine development and off-take agreements 24

25 Bedford Iron Prospect Bedford Iron Prospect Newfoundland & Labrador, Canada Located 27 kilometres northeast of the town of Schefferville, Québec 4,400 hectares of highly prospective ground Recently completed a geophysical program, awaiting interpretation Covers a significant government aeromagnetic anomaly Strategically located within three kilometres of the LabMag iron deposit and within 12 kilometres of the KéMag iron deposit, both held by New Millennium Capital Corp. Additional exploration planned to fully evaluate property potential 25

26 Corporate Goals Going Forward Advance Brazilian Iron Ore Strategy: Advance permitting and engineering/design of 20+Mtpa port facility Develop Iron Ore Port Facility; secure iron ore resources Deliver iron ore from Brazil to the global iron ore markets Advance Québec Iron Ore Strategy: Continue to develop/expand significant iron ore resources in Québec, Canada Secure Partner / End User for advancement of project to pre-feasibility Review various transportation corridors to export iron ore to global markets Continue to Create World Class Team & Partnerships Add key personnel to management team consisting of engineering & port design professionals, global shipping and logistics groups Continue to build new partnerships an enhance current strategic partnerships with ArcelorMittal, Worldlink Resources Ltd., Athena Resources LLC and Seabulk Systems Inc. 26

27 Corporate Share Structure TSX-V: ADI Shares Issued: 72,476,813 Fully Diluted: 88,200, Week high/low: $1.10-$0.15 Market Cap: ~$17 Million 27

28 Corporate Presentation May 2009