JV with European Goldfields

28 February 2008
AIM / PLUS Markets: AAU

               JOINT VENTURE WITH EUROPEAN GOLDFIELDS

Ariana  Resources  plc   ("Ariana"  or  "the   Company"),  the   gold
exploration company focused on Turkey, is pleased to announce that it
has signed a Heads of Agreement with European Goldfields Limited (TSX
/ AIM:  EGU) for  the  joint development  of Ariana's  properties  in
north-eastern Turkey, which include  the Ardala copper-gold  porphyry
and eleven other licences covering a total area of 168km2. Completion
of the Joint Venture and a  related placing in Ariana is expected  by
mid-April 2008, conditional upon  satisfactory due diligence and  the
signing of definitive agreements.

Highlights


  * Joint venture to develop the Artvin properties, including the
    Ardala Cu-Au Project



  * Exploration programme to be funded by European Goldfields



  * Significant projects to be advanced to Bankable Feasibility


Details of Joint Venture

The Joint Venture  is focused  on the  Pontides region  of Turkey,  a
highly  prospective  geological  terrain  containing  several   major
deposits.  The  Ardala  Cu-Au  porphyry  has  been  the  subject   of
reconnaissance drilling around the periphery of a porphyry intrusion,
which identified encouraging grades of copper and gold. It has a 600m
x 700m surface exposure centred on a magnetic high of 1,000m x 1,000m
extent. Copper-gold mineralisation has also been identified on  other
properties in the  vicinity of  Ardala within granitoids  and in  the
surrounding country rocks.

Under the agreement,  European Goldfields will  initially own 51%  of
the properties  transferred  by  Ariana  in  to  the  Joint  Venture.
European Goldfields will  then fund  all development  costs of  these
initial properties and any future properties located within a defined
area  in  North-eastern  Turkey   until  completion  of  a   Bankable
Feasibility Study,  at which  time European  Goldfields' interest  in
each  relevant  project  will  increase  to  between  80%  and   90%,
respectively.

In addition,  European Goldfields  has agreed  to subscribe  for  new
shares in Ariana at 5  pence per share in  a private placement for  a
total consideration of approximately £890,000, resulting in  European
Goldfields owning 20% of the  outstanding shares in Ariana  following
the placement.

Dr. Kerim Sener, Managing Director, commented:

"We are delighted by the initiation of our partnership with  European
Goldfields in  North-eastern  Turkey,  which promises  a  robust  and
effective approach to the exploration for large copper-gold and  gold
deposits.  This joint venture forms  part of our strategy to  advance
our  existing   ground-holding  in   north-eastern  Turkey,   without
detracting from our focused resource development programme in western
Turkey."

"We are  also  very  pleased  to see  European  Goldfields  become  a
significant investor in the Company.  The placement, at a premium  to
market, is a strong vote of confidence, and funds us through the next
stages of our development of the Kiziltepe project and acquisition of
the Tavsan project."

David Reading, CEO of European Goldfields, commented:

"We are excited at this  opportunity of rapidly growing our  business
into Turkey in partnership with Ariana Resources, which has a  proven
track  record  of  securing  prospective  exploration  licences   and
operating effectively in the country."


Contacts:


+-------------------------------------------------------+
| Ariana Resources plc             | Tel: [phone] |
|----------------------------------+--------------------|
| Michael Spriggs, Chairman        |                    |
|----------------------------------+--------------------|
| Kerim Sener, Managing Director   |                    |
|----------------------------------+--------------------|
|                                  |                    |
|----------------------------------+--------------------|
| Beaumont Cornish Limited         | Tel: [phone] |
|----------------------------------+--------------------|
| Roland Cornish                   |                    |
|----------------------------------+--------------------|
|                                  |                    |
|----------------------------------+--------------------|
| Bankside Consultants             | Tel: [phone] |
|----------------------------------+--------------------|
| Michael Padley / Louise Davis    |                    |
|----------------------------------+--------------------|
|                                  |                    |
|----------------------------------+--------------------|
| Loeb Aron & Company Limited      | Tel: [phone] |
|----------------------------------+--------------------|
| Peter Freeman / Frank Lucas      |                    |
|----------------------------------+--------------------|
|                                  |                    |
|----------------------------------+--------------------|
| City Capital Corporation Limited | Tel: [phone] |
|----------------------------------+--------------------|
| Charles Dampney                  |                    |
|----------------------------------+--------------------|
|                                  |                    |
|----------------------------------+--------------------|
| King & Shaxson Capital Limited   | Tel: [phone] |
|----------------------------------+--------------------|
|                                  |                    |
+-------------------------------------------------------+


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 a dynamic exploration company focused on the discovery  and
development  of  epithermal  gold-silver  and  porphyry   copper-gold
deposits  with  multi-million  ounce  potential  within  the  Tethyan
metallogenic belt  of  Turkey.    The  Company  has  a  portfolio  of
prospective licences selected on the  basis of its advanced  in-house
remote sensing database.

The Company's  flagship asset  is the  Sindirgi Gold  Project,  which
targets a series of prospects, within a prolific mineralised district
in western  Turkey.   The  project  hosts over  45km  of  gold-silver
bearing epithermal quartz veins.

Loeb Aron &  Company Limited,  City Capital  Corporation Limited  and
King & Shaxson Capital Limited 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.

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