Quarterly Newsletter and Spring Investor Events

 

 

1 April 2014
AIM: AAU

QUARTERLY NEWSLETTER AND SPRING INVESTOR EVENTS

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-Silver Project ("Red Rabbit") advancing towards commencement of the construction phase and targeting initial production of 21,000oz of gold equivalent per annum (reported gross with respect to the Joint Venture with Proccea Construction Co.).  

• US$25 million debt component of capital requirement for Red Rabbit and applications for requisite permits ahead of construction are in process of being finalised. 

• Significant new gold district identified at Ardala-Salinbas - current JORC Resource of 1.09Moz of gold (reported gross with respect to the Joint Venture with Eldorado Gold). 

• Exploration in the Red Rabbit Project Area continues utilising the world-class geological database acquired from Newmont Ventures Limited in March 2013. 

Dr. Kerim Sener, Managing Director, commented:

"Ariana is moving into a new phase of its evolution over the coming months, developing from a pure exploration and development company into one which generates meaningful revenues from gold and silver production in Turkey.  With this in mind the Board look forward to charting this development through new quarterly investor newsletters, communicating the important steps that Company is taking and what to look for in the coming months.

"The Board are also keen to keep both channels of communication open between Ariana and its key stakeholders, and in line with this, we will be attending a number of investor events over the coming year.  We will keep shareholders updated with these events and look forward to seeing some of you there."

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/.

To visit the Ariana team at the upcoming investor events, please visit the websites below to register:

• UK Investor Show on Saturday 5 April 2014 - http://www.ukinvestorshow.com/  

• Master Investor on Saturday 26 April 2014 - http://masterinvestor.co.uk/  

Contacts:

Ariana Resources plc	Tel: [phone]
Michael de Villiers, Chairman
Kerim Sener, Managing Director
Beaumont Cornish Limited	Tel: [phone]
Roland Cornish / Felicity Geidt
Beaufort Securities Limited	Tel: [phone]
Guy Wheatley
Loeb Aron & Company Ltd.	Tel: [phone]
John Beresford-Peirse / Dr. Frank Lucas
St Brides Media & Finance Ltd	Tel: [phone]
Susie Geliher / Lottie Brocklehurst

Editors' note:

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

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ariana Resources plc via Globenewswire

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