28 April 2015
AIM: AAU
QUARTERLY NEWSLETTER
Ariana Resources plc ("Ariana" or "the Company"), the gold exploration and development company focused on Turkey, is pleased to announce the release of the Company's Quarterly Newsletter for shareholders detailing the recent progress across its portfolio of gold pre-production, development and exploration interests.
Highlights
- Red Rabbit Gold Project development: trial mining and land acquisitions progressing encouragingly with development being fully financed by joint venture partners, Proccea Construction whilst the Company awaits its final land access permits
- Ardala/Salinbas - crystallising value of wider portfolio: Scoping Study highlighted an NPV(8%) value of approximately US$100 million- discussions underway with potential third parties to divest interest and crystallise value
- Support from new strategic investor: Compelling investment opportunity of Ariana highlighted by recent Metal Tiger plc subscriptions
Dr. Kerim Sener, Managing Director, commented:
"Progress continues at pace across all aspects of Ariana's portfolio which spans pre-production to greenfield exploration - and further encouraging corporate and legislative developments during the past quarter have reinforced these advances. Looking forward to the coming months, we have a period of active news flow which should reflect the progress taking place at Red Rabbit and our wider portfolio, in conjunction with the broader support towards the mining sector which we anticipate to be highlighted following the Turkish General Election in June."
To view a copy of the Quarterly Newsletter, please click on the following link to the Company's website: http://www.arianaresources.com/investors/quarterly-updates/.
Contacts:
| Ariana Resources plc | Tel: +44 (0) 20 7407 3616 |
| Michael de Villiers, Chairman | |
| Kerim Sener, Managing Director | |
| Beaumont Cornish Limited | Tel: +44 (0) 20 7628 3396 |
| Roland Cornish / Felicity Geidt | |
| Beaufort Securities Limited | Tel: +44 (0) 20 7382 8300 |
| Saif Janjua | |
| Loeb Aron & Company Ltd. | Tel: +44 (0) 20 7628 1128 |
| John Beresford-Peirse / Dr Frank Lucas | |
| St Brides Partners Ltd | Tel: +44 (0) 20 7236 1177 |
| Susie Geliher / Lottie Brocklehurst | |
Editors' note:
Dr Kerim Sener, BSc (Hons), MSc, PhD, is the Managing Director of Ariana Resources plc. A graduate of the University of Southampton in Geology, he also holds a Master's degree from the Royal School of Mines (Imperial College, London) in Mineral Exploration and a doctorate from the University of Western Australia. He is a Fellow of The Geological Society of London and has worked in geological research and mineral consultancy in Southern Africa and Australia. He has read and approved the technical disclosure in this regulatory announcement.
About Ariana Resources:
Ariana is an exploration and development company focused on epithermal gold-silver and porphyry copper-gold deposits in Turkey. The Company is developing a portfolio of prospective licences selected on the basis of its in-house geological and remote-sensing database, on its own in western Turkey and in Joint Venture with Eldorado Gold Corporation in north-eastern Turkey. Eldorado owns 51% of this joint venture and are fully funding all exploration work on the JV properties, while Ariana owns 49%. The total resource inventory within this JV is 1.09 million ounces of gold.
The Company's flagship assets are its Kiziltepe and Tavsan gold projects which form the Red Rabbit Gold Project. Both contain a series of prospects, within two prolific mineralised districts in the Western Anatolian Volcanic and Extensional (WAVE) Province in western Turkey. This Province hosts the largest operating gold mines in Turkey and remains highly prospective for new porphyry and epithermal deposits. These core projects, which are separated by a distance of 75km, are presently being assessed as to their economic merits and now form part of a Joint Venture with Proccea Construction Co. The total resource inventory at the Red Rabbit Project stands at 475,000 ounces of gold equivalent.
Beaufort Securities Limited and Loeb Aron & Company Ltd. are joint brokers to the Company and Beaumont Cornish Limited is the Company's Nominated Adviser.
For further information on Ariana you are invited to visit the Company's website at www.arianaresources.com.
Ends