30 November 2010
AIM / PLUS Markets: AAU
EXCELLENT RESULTS FROM JV PROPERTIES
Ariana Resources plc ("Ariana" or "the Company"), the gold exploration and
development company focused on Turkey, is pleased to announce the results of
exploration on certain projects held in joint venture with European Goldfields
Limited ("European Goldfields").
Highlights:
* Drilling on Salinbas provides intercepts including 21.5m at 6.63 g/t Au, and
42.7m at 2.78 g/t Au.
* Drilling on Ardala provides intercepts including 134m at 0.19% Cu and 0.21
g/t Au, and 189.5m at 0.17 g/t Au and 0.24% Cu.
* Drilling programmes have been extended and further exploration is yielding
encouraging results.
Dr. Kerim Sener, Managing Director, commented:
"We are very excited to report the results of the exploration being undertaken
on our JV properties in northeastern Turkey. Â The European Goldfields team has
been doing a tremendous job in understanding the nature of the mineralisation at
Ardala and Salinbas. Â This has helped guide the latest round of exploration
drilling across the projects and has led to the identification of zones of wide
and high-grade mineralisation at Salinbas and also to the discovery of a
mineralised extension of the Ardala porphyry beneath cover. Â These results
provide confidence in the mineral potential of the Artvin area and is testament
to our targeting and project identification capability in Turkey."
Details of Exploration Programmes
Work to date has focused on three targets: the Salinbas gold zone and the Ardala
porphyry within the Ariana joint venture and the Derinkoy gold target in the
Aldridge Minerals joint venture. Â Regional sampling aimed at selecting other
targets for licence applications has also continued across the Pontides region.
Salinbas
Last year, Ariana and European Goldfields jointly announced the discovery of a
new high-grade gold epithermal discovery, named Salinbas. Â Mineralisation is
associated with a series of breccia pipes occurring along a structural corridor,
which is interpreted to relate to the Ardala porphyry located about two
kilometres away. Â The discovery was revealed in a series of trenches in 2009 and
further trenching to extend existing trenches and excavate new ones was carried
out in 2010 (Table 1). Â The trenches define mineralisation over a total strike
length of about 300 metres, open in towards the east in the direction of the
Ardala porphyry. Follow-up drilling on the trenching has been completed in 2010
(Table 2).
Table 1: Trench results in bedrock on the Salibas prospect. Â Results reported
for intercepts >1g/t Au using a 0.5 g/t Au lower cut, no upper cut and up to 10
metres of waste material allowed.
+-----------+--------+--------+--------+
| Trench ID | Meters | Au g/t | Ag g/t |
+-----------+--------+--------+--------+
| ST1 | 32 | 5.43 | 7.8 |
+-----------+--------+--------+--------+
| ST2 | 20 | 1.16 | 3.7 |
+-----------+--------+--------+--------+
| ST3 | 46 | 8.33 | 39.0 |
+-----------+--------+--------+--------+
| ST9 | 4 | 1.52 | 1.5 |
+-----------+--------+--------+--------+
| ST10 | 16 | 1.33 | 5.3 |
+-----------+--------+--------+--------+
| ST10 | 1 | 1.85 | 4.3 |
+-----------+--------+--------+--------+
| ST11 | 5 | 2.53 | 18.3 |
+-----------+--------+--------+--------+
| ST11 | 55 | 7.80 | 9.2 |
+-----------+--------+--------+--------+
| ST12 | 28 | 1.77 | 4.0 |
+-----------+--------+--------+--------+
| ST12 | 8 | 8.38 | 13.8 |
+-----------+--------+--------+--------+
| ST13 | 38 | 3.67 | 12.1 |
+-----------+--------+--------+--------+
| ST14 | 31 | 1.56 | 9.4 |
+-----------+--------+--------+--------+
| ST15 | 27 | 1.96 | 10.6 |
+-----------+--------+--------+--------+
| ST20 | 13.3 | 1.20 | 1.3 |
+-----------+--------+--------+--------+
Table 2: Drilling results on the Salinbas prospect reported for intercepts >1g/t
Au using a 0.5 g/t Au lower cut, no upper cut and up to 6 metres of waste
material allowed
+-----------+---------------+--------+--------+--------+
| Drillhole | Depth | Meters | Au g/t | Ag g/t |
+-----------+---------------+--------+--------+--------+
| SALH007 | 0.5 - 22 | 21.5 | 6.63 | 19.8 |
+-----------+---------------+--------+--------+--------+
| SALH008 | 9.8 - 28 | 18.2 | 4.08 | 29.2 |
+-----------+---------------+--------+--------+--------+
| SALH008 | 34.7 - 35 | 0.3 | 2.25 | 26.6 |
+-----------+---------------+--------+--------+--------+
| SALH008 | 48.8 - 49.4 | 0.6 | 2.84 | 10.2 |
+-----------+---------------+--------+--------+--------+
| SALH009 | 14.8 - 26.9 | 12.1 | 5.66 | 14.5 |
+-----------+---------------+--------+--------+--------+
| SALH011 | 0 - 4 | 4 | 1.45 | 2.45 |
+-----------+---------------+--------+--------+--------+
| | 6 - 48.7 | 42.7 | 2.78 | 13.4 |
| SALH012 +---------------+--------+--------+--------+
| | incl. 23 - 35 | 12 | 6.78 | 36.5 |
| +---------------+--------+--------+--------+
| SALH013 | 124 - 125 | 1 | 1.02 | 7.23 |
+-----------+---------------+--------+--------+--------+
| SALH014 | 0 - 23.8 | 23.8 | 2.67 | 14.1 |
+-----------+---------------+--------+--------+--------+
Ardala Porphyry
Mapping and sampling of the Ardala porphyry in 2009 indicated that the
mineralisation continues under shallow limestone cover to the south of outcrop
previously explored in the early 1990's. Drill testing of this area in 2010 has
confirmed this geological model and provided encouraging intercepts (Table 3).
 Further drilling is planned in order to establish the full extent of the
porphyry extension.
Table 3: Drilling results for the Ardala porphyry reported for intercepts using
a 0.1 g/t Au lower cut, no upper cut and up to 6 metres of waste material
allowed
+-----------+-----------+--------+--------+------+
| Drillhole | Depth | Meters | Au g/t | Cu % |
+-----------+-----------+--------+--------+------+
| ARDH006 | 32 - 166 | 134 | 0.21 | 0.19 |
+-----------+-----------+--------+--------+------+
| ARDH007 | 0.5 - 194 | 189.5 | 0.17 | 0.24 |
+-----------+-----------+--------+--------+------+
Derinkoy
Two epithermal gold targets identified by soil geochemistry were selected for
drill testing. Â Drilling has commenced on one of these and results are expected
over the next two months.
Regional
Work across the Eastern Pontides region continues and targets have been selected
for licence selection once the next round of licence auctions commences in early
2011.
Contacts:
Ariana Resources plc Tel: 020 7407 3616
Michael Spriggs, Chairman
Kerim Sener, Managing Director
Beaumont Cornish Limited Tel: 020 7628 3396
Roland Cornish
Alexander David Securities Limited Tel: 020 7448 9820
Nick Bealer / David Scott
Loeb Aron & Company Ltd Tel: 020 7628 1128
Jonathan Willis-Richards / Frank Lucas
Editors' note:
Dr Kerim Sener, BSc (Hons), MSc, PhD, is the Managing Director of Ariana
Resources plc. Â 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. Â 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. Â 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 a
Joint Venture with European Goldfields Limited in north-eastern Turkey.
 European Goldfields owns 51% of this joint venture and, as the operator, is
fully funding all exploration work on the JV properties until delivery of a
feasibility study, at which point Ariana will retain 20% of the Ardala property
and 10% of the Salinbas property.
The Company's flagship assets are its Sindirgi and Tavsan gold projects. Â Both
projects contain a series of prospects, within two prolific mineralised
districts in the Western Anatolian Volcanic and Extensional (WAVE) Province in
western Turkey. Â This Province hosts the largest operating gold mines in Turkey
and remains highly prospective for new porphyry and epithermal deposits. Â 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. Â The total resource inventory of the Company stands at
448,000 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.
Ends
[HUG#1466784]
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(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Ariana Resources plc via Thomson Reuters ONE
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