Adriana Resources Inc

Adriana is a Canadian publicly-listed company engaged, through its 40% interest in Lac Otelnuk Mining Ltd (“LOM”), in the development of mineral properties in Nunavik, Québec, Canada. Adriana also holds land associated with a previously proposed iron ore port facility in Brazil (the “Port Facility Land”). As discussed at length below, the Company recognized an impairment charge of $49.6 million to write-down the Port Facility Land’s carrying value to $4.7 million as at December 31, 2013.