Significant Initial Drilling

Ariana Resources PLC
20 November 2006

                              ARIANA RESOURCES PLC

20 November 2006

AIM: AAU

       SIGNIFICANT INITIAL DRILLING RESULTS FROM KIZILTEPE GOLD PROSPECT


Ariana Resources plc ('Ariana' or 'the Company'), the gold exploration company
focused exclusively on Turkey, announces significant results from the first
eighteen drill holes completed on the Kiziltepe gold prospect at the Company's
100% owned Sindirgi Project in Balikesir province, western Turkey.


   •Intersections of 13.09 g/t Au over 6.6m, 7.49 g/t Au over 10.5m and 6.52
    g/t Au over 6.3m

   •Results confirm previous work and identify lateral and down-dip vein
    extensions

   •Eighteen drill holes completed along 530m of vein strike length

   •Drilling ongoing at the Kiziltepe and Kepez prospects


Since August 2006 a field team from the Company's Turkish operating subsidiary,
Galata Madencilik San. ve Tic. Ltd. Sti., has supervised the completion of a
diamond core drilling programme on the Arzu South vein. Assay results for the
first eighteen HQ size (63.5mm diameter) holes, totalling 1,391 drilled metres,
have been received. The holes were drilled to depths of between 50 and 105
metres and angled at between 50 and 75 degrees along a 530m section of vein
strike length. Quartz veins, other mineralised structures and stockwork were
located in all but one of the first eighteen drill holes, the results of which
are detailed below.


Steven Poulton, Chief Executive, commented:

'We are extremely pleased with these initial results from the drilling programme
on the Arzu South vein, which confirm the drilled widths and grades reported by
previous operators and our systematic channel sampling programme. Follow up
drilling will be required to test the depth continuity of intersections such as
13.09 g/t Au (& 121.67 g/t Ag) over 6.6m and 7.49 g/t Au (& 96.96 g/t Ag) over
10.5m. These excellent results underpin our confidence in the wider and
significant potential of the Kiziltepe prospect, which hosts over 19km of mapped
gold-silver bearing epithermal quartz veins.


'Geological modelling and resource estimation will now be undertaken on the Arzu
South vein and if merited this will be extended to a number of other, less well
exposed or otherwise untested, vein targets at the Kiziltepe prospect which are
currently being drilled. A second rig is now also drilling 5km to the north east
at the Kepez vein prospect. We look forward to updating our shareholders when
further results from these programmes become available.'


Arzu South Vein

The Arzu South vein has been drilled by previous operators. However, drill core
recoveries were deemed too low for an independent resource estimate to be
calculated in accordance with the JORC code. The Company's current drilling
programme has been designed to confirm and in-fill the historic data, to extend
the drilled strike length of the vein and to test the continuity at depth of the
results from the Company's rock-saw channel sampling programme. This data will
be included in a mineral resource estimate to be prepared by an independent
technical consultant in accordance with the JORC code.


Arzu South Vein: Northern Section

Four holes were completed by previous operators on the 230m long Northern
Section of the Arzu South vein: the most significant intersection being 3.9 g/t
Au over 14m. Seven rock saw channels undertaken by the Company in 2005, at
approximately 12.5m spaced centres, returned a previously reported best
intersection of 2.8 g/t Au over 1.5m.


The Company has completed and now reports on six diamond drill holes on the
Northern Section totalling 484m drilled, as follows: D01, D02, D03a, D03b, D04a
and D04b. Note holes labelled 'a' and 'b' (e.g. D03a and D03b) were drilled from
the same collar location, with the 'b' hole drilled at a steeper (approximately
20degrees) inclination to intersect the interpreted vein location between 20 and
40m deeper. Drill collars on the Northern Section were spaced at approximately
50m centres, except in the far north west where the spacing was reduced to 25m
between drill sections D01 and D02. Drill hole D01 was drilled to test the
northern extension of the vein which, due to ignimbrite cover, does not crop out
at surface.


The results from the Company's drill programme confirm the northern extension of
the vein with best intersections of 6.18 g/t Au (& 61.53 g/t Ag) over 6.7m and
5.95 g/t Au (& 155.51 g/t Ag) over 6.4m. Selected intersections for each hole
are reported in Table 1 below.


Table 1. Selected drill intersections from the Northern Section on the Arzu
South Vein

          Hole         From  To (m)  Recovery  Apparent  Gold (Au   Silver
                       (m)              (%)    Width (m)   g/t)    (Ag g/t)

   KTP-D01-06          42.3   43.2      67        0.9      2.22      16.00
   and                 65.2   66.2      97        1.0      4.84      11.70
   KTP-D02-06          50.0   56.0      86        6.0      2.77      19.94
   and                 63.8   68.8      100       5.0      2.59      80.69
   KTP-D03a-06         51.5   58.1      91        6.7      6.18      61.53
   KTP-D03b-06         66.0   71.5      71        5.5      1.67      67.17
   KTP-D04a-06         42.6   49.0      78        6.4      5.95     155.51
   and                 50.0   57.2      67        7.2      2.53     102.88
   KTP-D04b-06                         Vein not intersected

   Notes:

   No top cut has been applied to assay results

   Intersections based on a 0.5 g/t cut off grade

   Weighted averages have been calculated for core recovery and gold/silver
   grades

   Selected better intersects highlighted in bold text


Arzu South Vein: Central Section

Seven drill holes were completed by previous operators on the 120m long Central
section of the Arzu South vein with best intersections as follows (from north to
south): 4.8 g/t Au over 1.3m, 10.6 g/t Au over 7.5m, 3.7 g/t Au over 11.1m, 10.2
g/t Au over 5.7m and 7.2 g/t Au over 10m.


Rock saw channel sampling undertaken by the Company in 2005 at approximately
12.5m spaced centres on the Central Section of the Arzu South vein gave the
previously reported selected intersections (from north to south): 4.2 g/t Au
over 4.5m, 3.4 g/t Au over 6.8m, 5.4 g/t Au over 4m, 6.3 g/t Au over 13.5m, 4.0
g/t Au over 4.5m, 8.1 g/t Au over 1.8m and 3.4 g/t Au over 2.5m.


The Company has completed and now reports on seven diamond drill holes on the
Central Section totalling 549m drilled as follows: D05, D06a, D06b, D07a, D07b,
D08a and D08b. Drill collars were spaced at approximately 20m centres.

With best intersections of 7.49 g/t Au (& 96.9 g/t Ag) over 10.5m and 13.09 g/t
Au (& 121.67 g/t Ag) over 6.6m, the results from the Company's drilling
programme have broadly confirmed the grades and thickness as reported by
previous operators. When taken with the Company's rock saw channel sampling
data, the results also indicate that the vein pinches and swells along strike
and with depth. Selected mineralised intersections for each hole on the Central
Section are reported in Table 2 below.


Table 2. Selected drill intersections from the Central Section on the Arzu South
Vein

           Hole         From  To (m) Recovery   Apparent  Gold (Au  Silver
                        (m)             (%)    Width (m)    g/t)   (Ag g/t)

    KTP-D05-06          47.9   51.8     81        4.0       8.28    182.35
    KTP-D06a-06         40.4   43.4     62        3.0       3.09    76.07
    KTP-D06b-06         65.4   67.2     83        1.8       3.79    48.87
    KTP-D07a-06         41.3   51.8     89        10.5      7.49    96.96
    KTP-D07b-06         81.0   95.5     93        14.5      2.25    31.29
    KTP-D08a-06         20.0   22.9     87        2.9       9.79    110.31
    KTP-D08b-06         56.0   62.6     84        6.6      13.09    121.67
    and                 72.5   78.7     79        6.2       5.82    83.47

    Notes:

    No top cut has been applied to assay results

    Intersections based on a 0.5 g/t cut off grade

    Weighted averages have been calculated for core recovery and gold/
    silver grades

    Selected better intersects highlighted in bold text


Arzu South Vein: Southern Section

Four holes were completed by previous operators on the 180m long Southern
section of the Arzu South vein with a best intersection of 9.4 g/t Au over 3.7m.
Nine rock saw channels undertaken by the Company in 2005 at approximately 12.5m
spaced centres gave the previously reported best intersections (from north to
south) of 3.4 g/t Au over 2.5m, 3.5 g/t Au over 2.6m, 9.9 g/t Au over 1m and 2.9
g/t Au over 3.9m.


The Company has completed and now reports on five holes for a total of 358m
drilled on the Southern Section as follows: D09a, D09b, D10a, D10b and D11.
Drill collars were located at 50m spaced centres.


The results from the Company's drill programme confirm the southern extension of
the vein with best intersections of 6.52 g/t Au (& 110.95 g/t Ag) over 6.3m and
8.87 g/t Au (& 245 g/t Ag) over 4.0m. Selected mineralised intersections for
each hole on the Southern Section are reported in Table 3 below.


Table 3. Selected drill intersections from the Southern Section on the Arzu
South Vein

    Hole           From   To (m)  Recovery   Apparent  Gold (Au  Silver (Ag
                    (m)              (%)    Width (m)    g/t)       g/t)

    KTP-D09a-06    34.0    35.9      75        1.9       2.21      55.31
    KTP-D09b-06                     Hole being re-assayed
    KTP-D10a-06    32.6    38.9      88        6.3       6.52      110.95
    and            48.0    48.8      90        0.8       2.26      23.50
    KTP-D10b-06    11.0    12.0      93        1.0       2.83       2.30
    and            53.8    55.7      91        1.9       15.59     225.84
    and            78.3    78.7      95        0.4       2.61      65.40
    KTP-D11-06     38.5    42.5      78        4.0       8.87      245.25

    Notes:

    No top cut has been applied to assay results

    Intersections based on a 0.5 g/t cut off grade

    Weighted averages have been calculated for core recovery and gold/
    silver grades

    Selected better intersects highlighted in bold text


Contacts:

Ariana Resources plc

Steven Poulton, Chief Executive                               Tel: [phone]
[e-mail]@arianaresources.com    Mobile: [phone]


Bankside Consultants

Michael Padley / Susan Scott                                  Tel: [phone]


Editors' note:


About the Kiziltepe prospect

The Kiziltepe prospect is located within a ten-year renewable operating licence
that forms part of the Company's 100% owned 235km2 Sindirgi gold project in
Balikesir Province, western Turkey.


Kiziltepe lies approximately 100km east of the one million ounce vein-hosted
Ovacik gold mine and 115km northwest of the five million ounce Kisladag gold
mine. The prospect hosts over 19km in strike length of gold-silver bearing
low-sulphidation epithermal quartz veins across an area of at least 3km by 1km.
Individual veins are exposed for up to 700m and widths vary between 1m and 14m.
The main veins trend northwest, dip to the northeast and are hosted within
Miocene age dacitic volcanic rocks.


Ariana acquired the Sindirgi Gold Project from Newmont Mining Corporation (NYSE
& ASX: NEM; TSX: NMC) in March 2005. Newmont retains the right to a royalty of
up to 2.5% on future gold production from the Sindirgi gold project.


Ahead of commencing the drilling programme, Galata obtained all necessary
environmental and forestry approvals from the provincial government in Balikesir
and the State Government in Ankara.


Sampling and Assaying Procedures

To date 452 HQ size drill-core samples from the drilling programme on the Arzu
South vein, ranging from 0.15m to 1m in length, have been cut in half by a
diamond saw and sent for assay. Of these, 295 samples have returned grades of
less than 0.5 g/t Au (65.3% of the total), 49 samples between 0.5-1 g/t Au
(10.8% of total), 67 between 1-5 g/t Au (14.8% of total) and 41 samples above 5
g/t Au (9.1% of total), with a peak grade of 26 g/t Au. Sample recovery has
averaged approximately 85% in the mineralised zones, which is a significant
improvement on drill core recovery recorded by previous operators.


All the samples have been prepared by the ALS Chemex preparation facility in
Izmir and assayed by 30g fire assay at the ALS Chemex laboratory in Romania.
Routine re-assaying of all samples assaying greater than 10 g/t Au (27 samples)
and 100 g/t Ag (55 samples) has also been completed by ALS Chemex. Standard,
blank and duplicate samples are being used in the sample batches in line with
the Company's quality control procedures. Quality control checks have determined
that all blanks and standards (except for the batch corresponding to
KTP-D09b-06, which is being re-assayed) have passed and duplicate samples have
shown excellent correlations indicating that there are no problems caused by
coarse gold with 98.5% correlation for crushed duplicates and 98.7% correlation
for pulp duplicates. Laboratory sample preparation, assaying procedures and
chain of custody are appropriately controlled. The Company maintains an archive
of half core samples and a photographic record of all cores for future
reference.


Dr Kerim Sener, BSc (Hons), MSc, PhD, is Ariana's Exploration Director. 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 the Northern Territory of
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 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 covering 1,755km2, selected on the basis of its advanced
in-house remote sensing database.


The Company's flagship asset is the 235km2 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. A
two rig drilling programme is currently focussed on defining resources (in
compliance with the JORC code) at the prospects of Kiziltepe and Kepez.


Ambrian Partners 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.


Ends


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