Allen J. Palmiere, President & CEO

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Forward Looking StatementForward Looking Statement

Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties. Without limitation, statements relating to potential mineralization and resources, mining exploration and development, future plans and objectives of the Company and imprecision of mineral resources estimates, are forward looking statements that involve various degrees of risk. 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, changes in the world wide price of mineral commodities and currency fluctuations, general market conditions, the uncertainty of future profitability and access to sufficient capital, risks inherent in mineral exploration, development, construction and mining operations, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, environmental risks, access to labour and services and competition from other companies. 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. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this presentation.

REQUIREMENTS OF A SUCESSFUL DEVELOPMENTREQUIREMENTS OF A SUCESSFUL DEVELOPMENT

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A world class deposit

An economic development concept

Market demand for product

Ability to finance

Supportive/stable political environment

Skilled management and workforce

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Lac Otelnuk Project

WORLD CLASS DEPOSIT

Lac Otelnuk Project

WORLD CLASS DEPOSIT

Nunavik, Québec, Canada

Largest iron ore deposit in Canada with the potential of becoming one of the largest in the world

Defined resource of 27.48 billion tonnes with potential in excess of 30 billion tonnes

Potentially able to produce 50 million tonnes per annum for >100 years

Will produce high grade (68.0% Fe) concentrate

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Lac Otelnuk – Location

WORLD CLASS DEPOSIT

Lac Otelnuk – Location

WORLD CLASS DEPOSIT

Strategic Resource

Located in Nunavik, Québec

170 km north of Schefferville

250 km south of Kuujjuaq

LAC OTELNUK PROJECT

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WORLD CLASS DEPOSITWORLD CLASS DEPOSIT

Resource Classification

Tonnes(in Billions)

% FeHead

DTWR%

Measured and Indicated

20.64 29.8 25.4

Inferred 6.84 29.8 26.3

Current mineral resource estimate conforms to the CIM standards for such mineral resource under the categories listed as reported by Watts, Griffis and McOuat Limited (“WGM”), a independent geological and engineering consulting firm. WGM completed an NI 43-101 Technical Report that describes the resource calculation methodology. The report is available on SEDAR (www.sedar.com).

2012 NI 43-101 Mineral Resource Estimate (Davis Tube Weight Recovery (“DTWR”) cut-off grade 18%)

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Lac Otelnuk – typical cross section

WORLD CLASS DEPOSIT

Lac Otelnuk – typical cross section

WORLD CLASS DEPOSIT

Drilling has outlined iron mineralization over a 36 km strike length averaging 100 meters thick and 4 – 6 km wide

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Strategic Partner – Wuhan Iron & Steel Group “WISCO” Strategic Partner – Wuhan Iron & Steel Group “WISCO”

March 2011 - Closed Private Placement for $28 million – 19.9% of ADI December 2011 – Signed Joint Venture Agreement January 2012 – Closed Joint Venture Agreement

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Strategic Partner - Who is WISCO?Strategic Partner - Who is WISCO?

Wuhan Iron and Steel Group – “WISCO”

The WISCO Group is one of the “Big Three” Chinese state owned integrated Iron and Steel Companies

WISCO - strategic partner with Consolidated Thompson – June 2009

Offtake agreement and 25% interest in – Bloom Lake Mine

WISCO executed JV Agreement with Century Iron Mines – Dec 2011

WISCO’s investments include projects in: Canada, Australia, Brazil, Venezuela, Madagascar, and Liberia

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Highlights of Joint Venture Agreement with WISCO

ABILITY TO FINANCE

Highlights of Joint Venture Agreement with WISCO

ABILITY TO FINANCEThe Company received $120 million from WISCO for the following:

WISCO received a 60% participating interest in a Joint Venture - Lac Otelnuk Mining Ltd., which will hold Adriana’s Lac Otelnuk and December Lake properties while Adriana holds the remaining 40% interest

WISCO acquired 19.9% of the issued and outstanding shares of ADI - subscription agreement signed February 2011. Closed Private Placement for $28 million with WISCO on March 23, 2011

$51.6 million was paid directly to Adriana and the remaining $40 million was injected into Lac Otelnuk Mining Ltd.

WISCO will use commercially reasonable efforts to assist Joint Venture company to obtain project financing for not less than 70% of capex

WISCO will provide funding assistance of up to a maximum of CDN$200,000,000 for a term of up to 12 months in the event that Adriana has difficulty in funding its share of any cash call prior to the achievement of commercial production

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Lac Otelnuk Project – Conceptual ScopeLac Otelnuk Project – Conceptual Scope

Mine volume approximately 175-195 million tonnes of ore per annum

Concentrator capacity approximately 195 million tonnes per annum

Production – 50 million tonnes per annum of concentrate and/or pellets

Railway from Lac Otelnuk to Sept Îles approximately 849 kilometers

Port at Sept Îles expanded by an incremental capacity of 50 million tonnes per annum

Power line to Lac Otelnuk

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Open Pit and Mine Waste Management Plan Open Pit and Mine Waste Management Plan

Lac Otelnuk Project – 3D Overview of the PlantLac Otelnuk Project – 3D Overview of the Plant

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Lac Otelnuk Project – 3D Overview of the plantLac Otelnuk Project – 3D Overview of the plant

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Railways in Quebec

DEVELOPMENT - INFRASTRUCTURE

Railways in Quebec

DEVELOPMENT - INFRASTRUCTURE

Major issue is lack of capacity Mont Wright – Pt. Cartier privately owned QNSL from Ross Bay – Sept-Îles has

capacity of approximately 80 million tonnes

Alternatives:

New rail Lac Otelnuk to Schefferville Upgrade Scheffervillle to Ross Bay

Junction QNSL to Sept-Îles; or New rail Ross Bay to Sept Îlesor New rail Lac Otelnuk to Sept Îles - or Pipeline

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Port of Sept-Îles

DEVELOPMENT - INFRASTRUCTURE

Port of Sept-Îles

DEVELOPMENT - INFRASTRUCTURE

Sept-Îles – Phase 1 expansion – 50 million tonnes

Phase 2 expansion dedicated to ADI

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Social License to OperateSocial License to Operate

Sustainability and Social License not a checklist must develop partnerships must incorporate social and environmental assessment into

every decision must be the core of the operational philosophy

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Political EnvironmentPolitical Environment

Liberal government elected with a majority April 7, 2014

Re-launch of Plan Nord

Focus on mining as the economic driver for the future

Recognition of the necessity for foreign investment

Potential support for the development of infrastructure

Minister of Economic Development arbitrating a dispute delaying the port development

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Lac Otelnuk Project – Major Highlights 2013Lac Otelnuk Project – Major Highlights 2013

Opened an office in Montreal and assembled the project team

Engaged Deloitte to design the system of internal control

Completed the trade-off studies in anticipation of the DFS

Completed geotechnical and geohydrological drilling

Completed a bulk sample of ore

Completed a new resource report increasing the total resources to 27.5 billion tonnes

Completed bench scale testing

Completed pilot plant at SGS

Finalized process flow sheet

Feasibility Study – initiated

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Lac Otelnuk Project – ScheduleLac Otelnuk Project – Schedule

Continue to enhance and expand resources

Feasibility Study - completion Q4 - 2014

Environmental and Social Impact Assessment - completion - 2015

Impact Benefit Agreements - completion - 2015

Permitting - completion – 2016

Financing – completion 2016

Construction - phase 1 (30 million tonnes) completion 2017-2021

Production - 2021

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Lac Otelnuk Project – Summary Economics

ECONOMIC VIABILITY (Values from 2011 Preliminary Economic Analysis)

Lac Otelnuk Project – Summary Economics

ECONOMIC VIABILITY (Values from 2011 Preliminary Economic Analysis)

Production Rate 50 million tonnes

Discount Rate 8%

Price per tonne of Pellets $100

Operating cost per tonne (FOB Sept Îles) $31.07

NPV $15.2 billion

IRR 20%

Payback after Full Production 3 years

Funding Required $9 billion

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Lac Otelnuk Project – Capital Cost

(Values from 2011 Preliminary Economic Analysis)

Lac Otelnuk Project – Capital Cost

(Values from 2011 Preliminary Economic Analysis)

Mine Equipment and Infrastructure $655

Crushing and Concentrator $2,428

Pellet Plant $4,332

Railway $2,653

Port $610

Power $528

Indirect costs $506

Contingency $1,197

Total $12,909

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Lac Otelnuk Project – Value EquationLac Otelnuk Project – Value Equation

NPV of Project $15 billion

NPV attributable to ADI shareholders $6 billion

NPV attributable per share $41

NPV of Project on commencement of production (5 yrs.) $30 billion

Attributable to ADI $12 billion or $82 per share

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Lac Otelnuk Project – Strong Technical Team Lac Otelnuk Project – Strong Technical Team

Xiaogang Hu, Ph.D – General Manager and Project Director, Dr. Hu is a Cold Region Engineer and Construction Specialist. Over the past more than 30 years, Dr. Hu has worked on the project management on planning and developing large mining operations in northern territories as well as in diverse technical disciplines. Most recently, as the project director and Executive Vice President for ISUA project working for London Mining

Abdellatif Dellah, Ph.D - Abdellatif Dellah currently serves as Lac Otelnuk’s Senior Process Specialist. Dr. Dellah brings 37 years of experience working in SNC‑Lavalin as designer, engineering manager, engineering Quality Control, commissioning and Quality Control during construction for a wide range of large projects in Canada, North Africa, South America for large water pumping and delivery systems, large scale process plants such as desalination plants for Power generation, piping, reservoirs, and other infrastructures

Maria Di Niro, ing. – Director of Project Controls – Director, Project Control –Ms. Di Niro is an engineer with over 15 years of experience in the Project Management field. Her career has progressed with experience in Risk Management for Industrial Industries, the development of construction claims to her last position as Senior Vice President, Strategic Contracts Management within SNC-Lavalin’s International Construction Division.

Remi Lapointe, ing. – Director, Metallurgy and Processing -Prior to joining LOM, Mr. Lapointe worked as the Area Manager, Mining and Metallurgy for SNC-Lavalin Inc., where he was involved in various iron ore projects around the world. His previous roles include Operations Manager at Signature Aluminum Canada Inc., and Director of Production and Logistic at Nexans Inc.

Marcel Pineau, Ph.D – Director, Environmental and Sustainability - Prior  to join LOM, Marcel held senior management positions at both SNC Lavalin Inc. and London Mining Plc. With over 30 years of experience, Dr. Pineau brings in a wealth of experience in the mining related engineering studies, environmental assessment, the first nation relations and permitting

REQUIREMENTS OF A SUCESSFUL DEVELOPMENTREQUIREMENTS OF A SUCESSFUL DEVELOPMENT

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A world class deposit

An economic development concept

Market demand for product

Ability to finance

Supportive /stable political environment

Skilled management and workforce

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Allen J. Palmiere, President & CEO - 35+ years of extensive experience in senior executive and leadership roles in the mining industry. Former positions of Chairman and President and CEO of HudBay Minerals Inc., President and CEO of Silk Road Resources Ltd., CEO and CFO of Breakwater Resources Ltd., CFO of Zemex Corporation, and Executive Chairman of Barplats Investments Limited.

Donald K. Charter, Chairman - Mr. Charter was previously the President and CEO of Corsa Capital Ltd. Mr. Charter was also a partner at a national law firm where he practiced as a securities lawyer specializing in mergers and acquisitions and was the President and Chief Executive Officer of Dundee Securities Corporation.

Brian L. Acton, Director - Mr. Acton was previously a Consultant of Oxbow Corporation and was the President & Chief Operating Officer of Oxbow Corporation from 1985-2010 and was Director of Marketing at Kaiser Resources/Westar Mining (now Teck Resources Ltd., from 1977-1985).

Ronald P. Gagel, Director - Mr. Gagel is a chartered accountant with more than 30 years of professional experience, predominantly in the mining sector. Mr. Gagel joined TMAC Resources Inc. as the Chief Financial Officer in 2013. Prior to joining TMAC, Mr. Gagel was the Vice President and Chief Financial Officer FNX Mining Company Inc. since 2005 as and became Senior Vice President and Chief Financial Officer in 2006, a position he held until May 2010 upon the acquisition of FNX by Quadra Mining Ltd. Former positions of Vice President and CFO of Aur Resources Inc.

Weike Peng, Director – Mr. Peng is a senior engineer and has over 20 years of experience in the iron and steel industry. Mr. Weike Peng, is the Chief Executive Officer of WISCO Brazil Metallurgy Investment Ltd., Deputy General Manager of Overseas Mineral Resources Department of Wuhan Iron & Steel (Group) Corporation, Director of WISCO International Resources Ltd., and Director of Century Iron Mines Corporation.

Ronald S. Simkus, Director – Mr. Simkus brings over 37 years experience in base metal ore processing technology, management of skilled operations, maintenance and engineering personnel. Mr. Simkus is the former Chairman of the Board of Orvana Minerals Corp., and has been self-employed since 2006. Prior to 2006, was Senior Vice President, Mining - Corriente Resources Inc., and President & CEO of Campania Minera Antamina between 2001 and 2003.

Paul Yeou, Director -Mr. Yeou is the Managing Director of Worldlink (Canada) Resources Ltd., Vancouver, British Columbia, Canada. Worldlink is a private integrated trading company engaged in import and export of iron ore, coal and other dry bulk commodities.

David S. Warner, Director – Mr. Warner brings over 36 years of experience to the Board as a Chartered Accountant, including 30 years in public practice as a Partner with KPMG LLP. Mr. Warner’s expertise include Mining, Oil and Gas, Regulated Utilities and Real Estate.

Strong Board of DirectorsStrong Board of Directors

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Corporate Share StructureCorporate Share Structure

TSX-V: ADI

(as at October 2014)

As of October 2014 – ADI has $37 million in cash

Shares Issued: 157,554,238

Options: 11,250,000

Fully Diluted: 168,804,238

52 Week high/low: $0.75-$0.16

Market Cap (basic) ~$25 Million

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Contact InformationContact Information

Adriana Resources Inc.

15 Toronto Street, Suite 1000

Toronto, ON M5C 2E3

Tel: 416-363-2200

Fax: 416-363-2202

www.adrianaresources.com

Allen J. Palmiere, President & C.E.O. 416-363-2200 ext. 222 apalmiere@adrianaresources.com

Connie Dos Santos, Director, Investor Relations416-363-2200 ext. 223cdossantos@adrianaresources.com