How to reference/store assemblies from relative path ?

In Solution Explorer, right-click on the project node and click Add Reference.

 

And clean the solution(right click on project/solution and select clean) 

 

In the Add Reference dialog box, select the tab indicating the type of component you want to reference. In this scenario you need to use "Browse" to select your dlls.

 

Select the components(dlls) you want to reference, then click OK.