Eastern Turkey update

Ariana Resources PLC
31 October 2006

                                


31 October 2006
AIM: AAU

              MEMORANDUM OF UNDERSTANDING SIGNED IN EASTERN TURKEY


Ariana Resources plc ('Ariana' or 'the Company'), the gold exploration company
focused exclusively on Turkey, announces that its wholly owned Turkish operating
subsidiary Galata Madencilik San. ve Tic. Ltd. Sti. ('Galata') has signed a
Memorandum of Understanding ('MoU') with Besler Insaat Turizm ve Madencilik San.
ve Tic. Ltd. Sti. ('Besler') in eastern Turkey.


   •MoU provides Ariana with an experienced local partner in highly
    prospective eastern Turkey
   •Exploration campaign to commence in 2007
   •Royalty payments to be made on commercial production


Besler operate chromite mines in the Erzurum region of eastern Turkey and also
hold a number of additional exploration licences. These additional licences will
be transferred to Galata for inclusion in the Company's exploration programme in
2007. A number of these licences have been visited by Ariana's field teams and
show encouraging potential for epithermal and skarn-related gold and copper
mineralisation.


The MoU provides for the payment of a royalty on the production of gold, silver,
copper, molybdenum, lead and zinc within a designated Area of Interest. The
royalty payable by Ariana to Besler will be 1.25% for licences selected by
Ariana and 2.5% for licences previously held by Besler.


Steven Poulton, Chief Executive, commented:

'This deal illustrates Ariana's strategy of applying to maximum effect our in
country know-how to develop strong local partnerships. The agreement represents
an excellent opportunity for the two companies to use their combined expertise
to unlock the potential for significant gold and copper-gold discoveries within
the highly prospective and under explored metallogenic belts of eastern Turkey.'



Contacts:

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

Bankside Consultants
Michael Padley / Susan Scott                                            Tel: [phone]


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. Ariana's broker is Ambrian Partners Limited
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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