Red Rabbit JV Update

18th February 2010
AIM / PLUS Markets: AAU

                              RED RABBIT JV UPDATE

Ariana  Resources  plc  ("Ariana"  or  "the  Company"), the gold exploration and
development  company  focused  on  Turkey  is  pleased  to  announce significant
progress  towards production on  its proposed joint  venture ("JV") with Proccea
Construction Co. ("Proccea") on the Red Rabbit Project in western Turkey.

Highlights

  * A  positive project  scoping study  and an  environmental scoping assessment
    have been completed for the Kiziltepe sector


  * Proccea has completed preliminary designs for the processing plant


  * Reverse  Circulation ("RC") resource  drilling programme to  commence on two
    satellite veins: Banu and Derya


  * Feasibility study and Environmental Impact Assessment (EIA) to commence


Dr. Kerim Sener, Managing Director, commented:

"The Company is continuing to advance Red Rabbit according to plan.  The project
and  environmental  scoping  have  been  completed  and we are now positioned to
initiate  a  feasibility  study  and  environmental  impact  assessment.  We are
expecting to conclude these studies during the last quarter of 2010 and to begin
mine and plant construction in quarter one 2011."

Mr. Deniz Aybars, Managing Director, Proccea, commented:

"We  are pleased with  the progress of  work on Red  Rabbit and are committed to
completing  the  feasibility  study  and  environmental impact assessment of the
project.   We are  in the  process of  finalising our  JV agreement  with Galata
Madencilik and we look forward to cementing our future partnership."

Current Progress

The  Company  and  its  future  JV  partner,  Proccea, have continued to develop
several  core  aspects  of  the  Red  Rabbit  project.   While  the shareholders
agreement  is under review,  the partners are  actively advancing studies on the
Kiziltepe sector of the project, and are planning to proceed with an RC drilling
programme on certain veins to enable the inclusion of current Inferred resources
in the Indicated category.

The  Company has completed a  positive scoping study of  the project based on an
envisaged  production rate of 150,000 tonnes  of ore per annum  over a mine life
targeted to be greater than 5 years.  The scoping study estimates a project cash
cost  of  between  US$350  and  $400  per  ounce.  The expected process route is
Carbon-in-Leach  (CIL) but  the Merrill-Crowegold  separation technique  is also
under  consideration.  Based on  current resource estimates,  one central pit is
envisaged  on Arzu  South, with  satellite pits  at Banu,  Derya, Arzu North and
Kepez  (Figure 1).  The overall ratio of waste to ore at the Kiziltepe sector is
targeted  between 8:1 and 12:1.  A preliminary site plan, including the position
of the pits, processing plant, waste rock dump and tailings storage facility has
been prepared.

A revised geological model for the mineralisation at Kiziltepe (including 'vein'
and  'halo' types) has been  completed, which will be  used as part of a revised
formal  resource estimate following the completion of additional RC drilling now
planned  at the Banu and Derya veins.   Additional drilling is required on these
veins  to upgrade them to the Indicated category.   Including currently Inferred
resources,  the Company is targeting in  its revised geological resource model a
total  resource of  vein and  halo mineralisation  at a  1 g/t cut-off  as being
between  1.4 Mt and  1.7 Mt at  gold grades  between 2.5 and  3.5 g/t and silver
grades  between 50 and 70 g/t.  The average in-pit resource grade is expected to
be 3.5 to 4.5 g/t Au and 50 to 70 g/t Ag.

Proccea  and  its  division,  CH  Consultants, have completed preliminary design
drawings   for   the  Adsorption-Desorption-Recovery  (ADR)  facility  for  gold
recovery.   The current design is based on a 40,000 oz per annum production rate
and  will be  used for  capital cost  estimation purposes during the feasibility
study.   The ADR component  of the plant  has been designed  as a mobile unit so
that  it may be moved to the Tavsan sector following the conclusion of mining at
the   Kiziltepe  sector.   Proccea  has  also  purchased  an  Atomic  Absorption
Spectrometer  (AAS)  which  will  form  the  core  of an in-house laboratory for
advanced testwork.

SRK  Consulting  in  Turkey  has  completed  its environmental scoping study and
reported  positively to both Ariana and  Proccea.  Proposals have been requested
from  several international consulting  firms to complete  the Feasibility Study
("FS") and the Environmental Impact Assessment ("EIA").  By the 1st March 2010,
Ariana   and   Proccea  will  have  jointly  selected  the  consulting  group(s)
responsible  for the FS and EIA.   It is expected that both  the FS and EIA will
then  commence immediately  and will  be completed  in parallel during Q4 2010.
 Funding  of the FS and EIA will be undertaken by Proccea as part of its earn-in
on the Red Rabbit Project.
                                     Derya
                                   Arzu North
                                   Arzu South
                                      Banu
                                       N

About Proccea

Proccea  Construction  Co.  (www.proccea.com  <

http://www.proccea.com/>)  is  an
integrated construction firm specialising in turn-key solutions for a variety of
business  sectors  ranging  from  the  development  of gold processing plants to
designing  and  building  major  hotels.  The  mining  service  is provided by a
business  division of  Proccea named  CH Engineering  & Consultancy  ("CH").  CH
provides  a range of  services to the  mining industry, including  the design of
mining    equipment   and   processing   plants,   manufacturing   installation,
commissioning, start-up and staff training for gold and silver extraction in the
mining industry (www.chconsultants.com <

http://www.chconsultants.com/>).

CH  provides  the  installation  and  technical  services  for  such gold mining
processes  as  heap  leach,  CIL  and  CIP  design  and operations.  CH has wide
experience  of designing and commissioning gold and silver processing plants. In
Turkey  this has  included the  KiÅŸladag gold  mine (Eldorado Gold), Copler gold
mine  (Anatolia Minerals), Mastra gold mine  (Koza Gold) and the Gümüşköy silver
mine  (Eti  Gümüş).   Internationally,  CH  processing  plant  commissions  have
included  the Zarcan gold mine in Iran, the Knelson gold mine in Kazakhstan, the
Amesmessa  gold mine  in Algeria,  the Kitila  gold mine  in Finland, the Minera
Triton  gold mine in Argentina and the Maaden gold mine in Saudi Arabia.  CH has
the  technical support of  the internationally renowned  Summit Valley Equipment
and Engineering firm based in Utah, U.S.A.

Contacts:


  Ariana Resources plc

  Michael Spriggs, Chairman            Tel: [phone]

  Kerim Sener, Managing Director



  Beaumont Cornish Limited             Tel: [phone]

  Roland Cornish



  Alexander David Securities Limited   Tel: [phone]

  Nick Bealer / David Scott



  Loeb Aron & Company Ltd              Tel: [phone]

  Peter Freeman / Frank Lucas


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
exploring  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 European Goldfields Limited in north-eastern Turkey.

The  Company's flagship assets are its  Sindirgi and Tavsan gold projects.  Both
projects  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.   The total resource inventory of the
Company stands at 401,000 ounces of gold equivalent.

Loeb  Aron  &  Company  Ltd.  and  Alexander  David Securities 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
atwww.arianaresources.com <

http://www.arianaresources.com/>.

Ends






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