ADIRA ENERGY LTD V.ADL

NEWS RELEASE

[good2004]

Adrian Resources Ltd. Announces Name Change To Petaquilla Minerals Ltd. 10/8/04 VANCOUVER, BRITISH COLUMBIA, Oct 8, 2004 (CCNMatthews via COMTEX) -- Adrian Resources Ltd. ("The Company") is pleased to announce that effective October 12, 2004 the Company will be changing its name to Petaquilla Minerals Ltd. The Company's new trading symbol will be PTQ on the TSX Exchange. The C ompany's new trading symbol on the OTC/BB Exchange in the United States will be announced on October 12, 2004. The Company's new CUSIP number will be 716013107. There are no changes to the Company's share capital structure associated with the change of name. The Company's shareholders approved the name change at the Annual and Extraordinary General Meeting held on July 23, 2004. This new name better reflects the Company's principal asset, the Petaquilla Deposit, in Panama. The Company has a 52% interest (Inmet Mining 48%) in the world-class Petaquilla Copper/Gold porphyry deposit in Panama. The Petaquilla Project encompasses a multi-metal mineral district comprising seven known Copper-Gold-Molybdenum-Silver porphyry deposits and one known epithermal Gold deposit, amongst numerous other prospects and mineral showings. Teck Cominco Ltd. has an option to earn 50% of the Company's interest by funding 100% of the Company's share of the cost of placing Petaquilla into production. Teck Cominco Ltd. commissioned a Final-Bankable Feasibility Study (H.A. Simons 1998) of the Petaquilla deposit, (which was conservative to comply with the "Petaquilla Law", as reported in the Company's press release of February 4th 1998) which estimates that the proven and probable mineable reserves total 1.1 billion tonnes. According to the Study, the in-pit mineable reserves available to be mined and milled total 986 million tonnes grading 0.50% Cu, 0.09 g/t Au, 0.016% MoS2 as well as recoverable silver with an average waste to ore ratio of 0.97:1. The project is estimated to produce an average of 509 million pounds of copper, 83,600 ounces of gold and 10.6 million pounds of molybdenum during the first six years of the project's 23 year mine life at an average cash cost per pound of copper, net of by-product credits, of US$0.51. The total recoverable payable metal content contained in these reserves is at least 9.4 billion pounds of copper, 1.37 million ounces of gold, 24.1 million ounces of silver and 131.1 million pounds of molybdenum, not including the contained metal in the low-grade stockpile. The effect of milling the additional mineable reserves contained in the low-grade stockpile of 130 million tonnes was not included in the Study's financial analyses. This recently revitalized Company has now completed a change of management, added several new directors to its Board and completed a name change. Management continues to advance its principal asset, the Petaquilla Deposit, in Panama. The Company is currently reviewing joint venture proposals and/or its own exploration programs on the recently re-acquired (100% owned) key mineral concessions surrounding the Petaquilla Deposit joint venture. Please visit the Company's new website domain at www.petaquilla.com The above technical information, and all other technical information on the Company's web-site pertaining to geology and drill hole data and the Studies cited are historical estimates made before NI 43-101 came into force. On behalf of the Board of Directors of ADRIAN RESOURCES LTD. Dale McClanaghan, President THE FORWARD-LOOKING STATEMENTS IN THIS RELEASE INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER IMPORTANT FACTORS THAT COULD CAUSE THE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE CORPORATION, OR INDUSTRY RESULTS, TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. SUCH RISKS, UNCERTAINTIES AND OTHER IMPORTANT FACTORS INCLUDE, AMONG OTHERS: CHANGES IN THE POLITICAL AND REGULATORY CLIMATE; INDUSTRY TRENDS; COMPETITION; CHANGES IN BUSINESS STRATEGY OR DEVELOPMENT PLANS; AVAILABILITY OF QUALIFIED PERSONNEL; CHANGES IN, OR THE FAILURE OR INABILITY TO COMPLY WITH, GOVERNMENT REGULATIONS; AND OTHER FACTORS REFERENCED IN THIS RELEASE. Adrian Resources Ltd. Dale McClanaghan President [phone] [phone] (FAX) Website: www.adrian.com NEWS RELEASE TRANSMITTED BY CCNMatthews No stock exchange has approved or disapproved the information contained herein. Copyright (C) 2004, CCNMatthews. All rights reserved.