Final Results

1 June 2009
AIM / PLUS Markets: AAU

FINAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2008

35% increase in JORC resource

Initial revenues expected shortly

Ariana  Resources  plc   ("Ariana"  or  "the   Company"),  the   gold
exploration and development company focused on Turkey, announces  its
final results for the  year ended 31 December  2008.  The period  was
one of excellent progress on a  number of fronts and the Company  has
made the transition from exploration to mine development.

Ariana's near term objective is to establish a profitable gold mining
operation in Turkey, and trial mining has commenced since the  period
end.  This will create a platform for achieving the longer term  goal
of establishing  a  gold resource  of  at least  one  million  ounces
through further exploration on existing properties.

Highlights:

§  Current resource base of 401,000 oz gold equivalent
§  Tavsan gold project purchased from Odyssey Resources Limited
§  JV with European Goldfields progressing in north-eastern Turkey
§  £928,551 investment by European Goldfields Limited

Post Period Events:

§  Additional £500,000 fundraising in January
§  Trial mining and processing underway at Kiziltepe
§  Muratda gold project purchased from Newmont Mining

Michael Spriggs, Chairman, commented:

"2008 saw major  advances for  the Company.   Among a  number of  key
areas of progress, Ariana has made the all-important transition  from
exploration to mine development.

"We have significantly  increased the  resource base  of the  Company
and, having weathered a difficult  period, we believe the outlook  is
now substantially brighter with initial revenues expected shortly."

The  report  and  accounts  for   this  period  will  be  posted   to
shareholders   and    will    be    available    on    the    website
www.arianaresources.com

Contacts:


Ariana Resources plc               Tel: [phone]
Michael Spriggs, Chairman
Kerim Sener, Managing Director

Beaumont Cornish Limited           Tel: [phone]
Roland Cornish

Lothbury Financial                 Tel: [phone]
Michael Padley / Libby Moss

Alexander David Securities Limited Tel: [phone]
Nick Bealer / David Scott

Loeb Aron & Company Ltd            Tel: [phone]
Peter Freeman / Frank Lucas


Editors' note:

Dr Kerim Sener,  BSc (Hons), MSc,  PhD, is the  Managing Director  of
Ariana Resources plc.  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  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.
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 at www.arianaresources.com.

CHAIRMAN'S STATEMENT

At  Ariana  Resources   we  pride   ourselves  on   our  ability   to
differentiate our Company's  activities from  those of  similar-sized
AIM exploration companies.  We place great emphasis on our ability to
deliver on our stated objectives.  Ariana's near term objective is to
establish a profitable  gold mining operation  in Turkey.  This  will
create a platform for achieving our longer term goal of  establishing
a gold  resource  of at  least  one million  ounces  through  further
exploration.

CORPORATE DEVELOPMENTS

2008 saw major advances for the Company.  Among a number of key areas
of  progress,  which   I  highlight  below,   Ariana  has  made   the
all-important transition from  exploration to  mine development.   At
the same  time, the  Company  has continued  to develop  its  clearly
defined regional  strategy  in  western  Turkey  and  established  an
exploration  Joint  Venture  with  European  Goldfields  Limited   in
northeastern Turkey.

Ariana is  developing  two  principal  projects  in  western  Turkey,
Sindirgi and Tavsan, and is exploring several other advanced  project
areas.  Between these two principal projects, our resource  inventory
now contains  401,000  ounces  gold equivalent  (gold  plus  silver),
representing a 35% increase  in our resource  base since last  year.
This was achieved  through further exploration  at Kiziltepe and  the
acquisition of Tavsan.

At the Sindirgi Project, the additional drilling completed during the
year at Kiziltepe resulted in an increased JORC-compliant resource of
186,000 oz gold equivalent.  Geophysical work on Kiziltepe, completed
in September,  identified several  strong anomalies  suggesting  vein
continuity beneath an area of surface cover located between the  Arzu
South and Arzu North vein  systems.  In November, mine permitting  at
Kiziltepe was completed, paving the way for trial mining.

At the Tavsan  Project, acquired  from Odyssey  Resources Limited,  a
JORC-compliant  resource   of   215,000  oz   gold   equivalent   was
established: representing an acquisition cost of US$ 3.7 per  ounce.
Metallurgical testwork undertaken on the ore from Tavsan demonstrated
its amenability  to heap  leach processing.   Meanwhile,  exploration
undertaken in northeastern  Turkey by the  European Goldfields  Joint
Venture identified promising new porphyry-type targets at the  Ardala
Project.  Some of these targets are scheduled to be drilled in 2009.

Post year-end, in January 2009,  the Company completed a placing  for
£500,000 (gross of share issue costs).  The placing was supported  by
the  Board  and  by   our  major  shareholders,  including   European
Goldfields Limited,  which  maintained  its  position  in  Ariana  at
approximately 20%.   In March  2009, the  Company finalised  a  trial
processing agreement  for the  Kiziltepe  deposit with  local  mining
group Eti Gümüs A.S.

In April 2009, Ariana acquired the Muratdag Gold Project from Newmont
Mining Corp.  The  addition to  Ariana's portfolio  of this  advanced
exploration asset has  further increased the  value of the  Company's
project pipeline in western Turkey.  Consistent with our medium  term
strategy, we intend to carry out  the work necessary to advance  this
project up the project value curve.

OUTLOOK

In my report last year, I promised a year of exciting developments. I
had not intended this  as a euphemism to  describe the trying  market
conditions which then unfolded.  As it turned out, Ariana was obliged
to take several tough measures towards the latter part of the year in
order to  maintain  our  strategic course.   To  conserve  funds,  we
reduced exploration expenditure in 2008, a decision which regrettably
meant we had to  reduce our professional  workforce in Turkey.   Work
continued on Sindirgi,  but we  were obliged  temporarily to  curtail
work at Tavsan, and on our broader exploration programme.


Having weathered a difficult  period for the  AIM market, we  believe
the outlook is now substantially brighter.  Since late 2008, the gold
price has progressively risen and is maintaining levels around US$900
per ounce.  This strength reflects in large part continuing  concerns
about  the  global  economy,  and  it  is  significant  that  Western
governments  have  sought  to  repair  their  financial  systems  via
increased spending.  A corollary of  this is that greater funding  is
becoming available for the AIM mining sector, particularly for  those
companies able to demonstrate near-term production.  The  improvement
in Ariana's  share  price  this  year  reflects  this  and  it  is  a
gratifying development.

The funding  secured  from  our January  2009  placing  has  provided
additional support and given us  the flexibility to proceed with  our
plans  for  trial  mining  at   Kiziltepe.   In  this  context,   our
exploration team  is  assessing  other  opportunities  for  near-term
cash-flow in the vicinity of Kiziltepe  and, at the time of  writing,
we had reported  very encouraging  sampling results  from the  nearby
Kepez prospect.  Provided trial mining at Kiziltepe proceeds to plan,
Ariana can expect initial cash flows from this operation in the  near
future.  We  are  also aiming  to  determine the  optimum  route  for
turning the Tavsan project to account.

In terms of future  exploration we will  continue to concentrate  our
efforts on  the Western  Anatolian  Volcanic and  Extensional  (WAVE)
Province in western Turkey, which remains highly prospective for  the
discovery of large epithermal and porphyry deposits.  This is an area
in which we have developed unique expertise, accumulated an  enormous
amount of technical data, established invaluable local relationships,
and where we have already had considerable exploration success.

As I  have demonstrated  above, Ariana  is now  entering an  exciting
stage of its development,  and the coming year  will see the pace  of
these activities  maintained.  We  offer our  sincere thanks  to  our
loyal shareholders  who  have  continued  to  support  us  through  a
challenging period. In recognition of  this support, we are  offering
all shareholders the  opportunity to  subscribe for  one warrant  for
every five shares currently held.

I want also to  express the gratitude of  the Board for the  sterling
efforts of our exploration and administrative teams in Turkey.   They
have  borne  the  brunt  of  our  cost-cutting  measures,  and  their
enthusiastic dedication  to  achieving successful  outcomes  for  our
Company is  a source  of great  pride for  us.  Finally,  I thank  my
fellow Board members  for their tireless  support, encouragement  and
wise advice.

Michael Spriggs
Chairman
29 May 2009



BUSINESS REVIEW

SUMMARY

Ariana  has  made  solid  progress  during  the  year  and  made  the
transition from exploration to mine  development.  At the same  time,
the Company has continued to develop its regional strategy in western
Turkey, and is  enhancing its resource  growth opportunities  through
focused exploration and acquisition in the region.

Further  drilling  has  been  undertaken  at  the  Sindirgi  Project,
resulting in  a  revised  JORC compliant  resource  at  Kiziltepe  of
186,000 oz  gold-equivalent.   A  JORC-compliant  resource  was  also
established on  the Tavsan  Project  of 215,000  oz  gold-equivalent.
 Meanwhile, the Joint  Venture with European  Goldfields Limited  has
identified new targets at the Ardala Project in eastern Turkey, which
are scheduled to be drilled in 2009.

Post year  end,  the Company  completed  a placing  for  £500,000  in
January  in  which  European  Goldfields  Limited  maintained   their
position in Ariana at approximately 20%.  The Company also  finalised
a trial  processing  agreement with  Eti  Gümüs A.S.  in  March:  the
agreement entails a large scale  metallurgical test of ore  delivered
from a trial mine at Kiziltepe.

Ariana's  resource  inventory  now   contains  401,000  ounces   gold
equivalent, of  which approximately  342,000 ounces  are gold.   This
figure represents  an increase  of almost  35% in  our resource  base
since last year,  which was achieved  through additional drilling  at
Kiziltepe and a revised geological model at Tavsan.

CORE PROJECT AREA

The Company dedicates  its effort to  the Western Anatolian  Volcanic
and Extensional  (WAVE) Province  in western  Turkey.  This  province
hosts three operating gold mines (total reserves of about 7 Moz)  and
remains  highly  prospective  for   large  epithermal  and   porphyry
deposits.  The Company considers the exploration and development risk
in this  region  to  be  low  due  to  excellent  infrastructure  and
established gold mining operations.

Ariana is  developing two  core projects  within the  WAVE  Province,
Sindirgi and Tavsan, in addition to exploring several other  advanced
project areas including  Ivrindi, Demirci and  Muratdag.  The  region
surrounding these projects is named  the WAVE Project Area, with  our
base of operations in Sindirgi located strategically at its core.

The Company is targeting the development  of one or more of its  core
projects as  environmentally friendly  small-footprint mines  in  the
coming years.  Other exploration  projects will be joint-ventured  or
sold to ensure  focus is  maintained on the  further exploration  and
development of the Sindirgi and Tavsan projects.

In addition to  containing our  advanced projects,  the Project  Area
encompasses the  majority of  our  exploration tenements  in  western
Turkey.  Excluding tenements held for  core or advanced projects,  32
exploration licences  in this  area have  been optioned  to  European
Goldfields Limited for one year.

Ariana is  targeting a  resource  of 1Moz  of  gold within  the  WAVE
Project Area and our  strategy is designed to  build steadily on  our
existing resource  base  in the  region  via exploration  and  future
acquisitions.  New exploration opportunities  are being evaluated  on
an ongoing  basis to  further enhance  the early-stage  value of  the
project pipeline.


SINDIRGI PROJECT

The Sindirgi Gold  Project ("Sindirgi") lies  130km northeast of  the
coastal city of Izmir  and 130km west of  the Gümüsköy silver  plant.
 Sindirgi was acquired  in early  2005 from  Newmont for  US$400,000,
with a  royalty of  up to  2.5% on  future gold  production from  the
project since assigned  to Franco-Nevada  Corporation.  Current  JORC
resources stand at 186,000 ounces gold equivalent (Table 1).

The project  encompasses an  important regional  trend of  epithermal
gold mineralisation,  known  as  the Sindirgi  Gold  Corridor,  which
contains four  distinct prospects:  Kiziltepe, Kepez,  Karakavak  and
Kizilçukur.  To date, a total of  45km of veins have been  identified
in  outcrop  on   the  project.   Since   January  2008,  3,020m   of
diamond-drilling has been completed on the Kiziltepe deposit.

Table 1: JORC resource statement for Kiziltepe.


Classification Vein  Tonnage Grade Grade Au (oz) Ag (oz)   Au
                     (Kt)    Au    Ag                      equivalent
                             (g/t) (g/t)                   (oz)
Measured       Arzu  390     6.4   101   80,257  1,266,559 105,588
               South
Indicated      Arzu  110     5.7   106   20,161  374,920   27,659
               South
               Arzu  50      2.3   38    3,698   61,093    4,920
               North
Inferred       Arzu  100     2.2   29    7,074   93,248    8,939
               North
               Banu  130     2.6   82    10,868  342,765   17,723
               Derya 170     2.9   53    15,852  289,711   21,646

Total                                    137,910 2,428,296 186,476


Au equivalent  (oz)  is the  sum  of the  gold  ounces and  the  gold
equivalent ounces of  silver based  on a gold/silver  price ratio  of
approximately 50:1.

Kiziltepe Deposit
The Kiziltepe deposit contains  20km of outcropping  low-sulphidation
epithermal quartz veins, which are  hosted by dacitic volcanic  units
of  Miocene  age.   The  vein  field  occurs  in  an  area   covering
approximately 3km by  1km and is  well serviced by  asphalt road  and
forestry tracks.  Individual veins are exposed at surface for 750m in
strike length and are  between 1m and 14m  wide.  Four of these  vein
systems were drilled during the year.

A revised JORC-compliant mineral resource was provided by SRK UK  Ltd
("SRK") based on drilling results for both the southern and  northern
sections of the Arzu  vein system and  for several additional  veins.
 The mineral  resource  was  established  to a  depth  of  125m  from
surface, at a cut-off grade of 2 g/t Au (Table 1).

An agreement with Eti Gümüs A.S. for trial processing of 5,000 tonnes
of ore was concluded following successful initial bulk  metallurgical
testwork undertaken at their Gümüsköy plant, for which recoveries  of
82.3% and 89.7% were achieved.  Trial mining operations at  Kiziltepe
have been completed and 5,177 dry tonnes of ore has been delivered to
the plant for processing.

Arzu Vein
The northwest-trending and steeply northeast dipping Arzu Vein system
comprises two  sections:  Arzu  South  and  Arzu  North.   These  two
sections are separated over a strike length of 650m by silicified and
clay altered rhyodacitic  ignimbrite cover rocks,  which obscure  the
vein system beneath.   Drill-testing of  this covered  area has  been
planned on  the basis  of several  positive drilling  results in  the
periphery of  the  covered area,  and  the identification  of  buried
geophysical targets in 2008.


Arzu South
The Arzu South vein system has a strike length of 650m.  A  segmented
and partially  overlapping  vein array  has  been modelled  for  Arzu
South, with  veins  typically 5m  wide.   During the  year,  drilling
results obtained from the southern  extension of the Arzu South  vein
included gold-equivalent intersections of 23.25 g/t over 6.9m,  11.99
g/t over 7.3m and 9.07 g/t over 9.4m.  These results demonstrate  the
potential for further  resource growth  in the southern  part of  the
vein, where several plunging shoots of high grade mineralisation have
been modelled.

A mining options study undertaken on  the Arzu South vein by  Wardrop
Engineering  ("Wardrop")  evaluated  several  different  mining   and
processing scenarios, from which open-pit operations were  considered
preferable.   The   study   utilised  resource   inputs   from   SRK,
metallurgical results from SGS  Lakefield Research Limited and  Gekko
Systems Pty. Ltd., and certain Turkish cost estimates.

The Wardrop study considered an  open pit production rate of  125,000
tonnes per annum, with  a cut-off grade  of 1.3 to  2.0 g/t and  mine
life of 4 to 3 years, depending on gold price scenarios of US$900  or
US$600  per  ounce  respectively.   Following  this  study,  it   was
determined that the most viable route to production in the short-term
was via  off-take  or  toll-treatment using  an  existing  processing
facility.  The agreement with  Eti Gümüs A.S.  has now established  a
basis for production from the Arzu South vein.

Arzu North
The Arzu North  vein system has  a strike length  of 400m.  The  vein
system is  atypical of  veins developed  elsewhere on  the  Kiziltepe
deposit, comprising multiple parallel  veins, intervals of  stockwork
veins and extensive wall-rock alteration.   Whilst there is only  one
important vein at  this location, the  hangingwall contains at  least
three subsidiary veins  that can be  traced on surface  and in  drill
core.  The Arzu North system is interpreted to represent the terminal
splay of the  NW-trending structure  that hosts  the high-grade  gold
mineralisation at Arzu  South.  In 2008,  drilling results from  Arzu
North included gold equivalent intersections of 11.99 g/t over  6.1m,
5.04 g/t over  6.25m and  2.83 g/t over  10.6m.  Approximately  2,000
tonnes of low  grade (~2  g/t Au) ore  from this  location have  been
stockpiled on site in accordance with Turkish mining regulations.

Other Veins
Exploratory drilling has  been completed on  six additional veins  at
the Kiziltepe  prospect.   This  work  provided  results  which  were
sufficiently encouraging to  warrant follow up  drilling on three  of
these veins and led to resource estimates at Banu and Derya.

Derya Vein
The Derya Vein has a strike length of 500m and contains grades up  to
6.3 g/t Au and 486 g/t Ag in drilling.  There is a marked increase in
gold and silver grade  in the eastern extension  of the vein  towards
the rhyodacitic ignimbrite cover rocks in the Arzu North area.  It is
apparent that Derya may  be a splay from  the Arzu vein system,  with
gold and silver grades improving  toward the intersection of the  two
structures.  In drilling, gold-equivalent  intersections of 6.22  g/t
over 6.0m,  3.85 g/t  over 8.7m  and  5.79 g/t  over 3.0m  have  been
recorded in proximity to the Arzu structure.

Banu Vein
The Banu Vein has a  strike length of 750m  and has the most  uniform
grade at surface of all the veins at the Kiziltepe deposit.  For 550m
of  surface  sampled  strike  length,  the  vein  carries  a   fairly
consistent grade  of approximately  2-3 g/t  Au over  a true  average
width  of  2.5m.   Evidence  from  both  new  and  previous  drilling
indicates an improvement in  grade at depth and  along strike to  the
southeast.  Seven RC drill holes on  a 300m section of vein  provided
best gold-equivalent intercepts of 3.81 g/t over 6m, 3.78 g/t over 5m
and 2.58 g/t over 7m.


Kepez Prospect
The Kepez prospect lies 6.5km north-east of the Kiziltepe deposit and
is located within the same  ten-year operating licence.  Kepez  hosts
over 2.5km in strike length  of gold silver bearing  low-sulphidation
epithermal quartz  veins, across  an area  of at  least 2km  by  1km.
 Individual veins are exposed for up to 850m and widths vary  between
1m and 25m.

The main structure, named the  Karakaya Vein, trends northward,  dips
to the west  at 50 degrees  and is hosted  along the contact  between
Miocene  age  dacitic  volcanic  rocks  and  Cretaceous   ophiolites.
 Previous sampling undertaken  on the  Karakaya Vein  returned up  to
8.68 g/t Au over 16m  and 6.28 g/t Au over  11m across and along  the
hangingwall contact of the vein, yet follow up drilling results  were
disappointing  with  the  best   intersect  recorded  in   historical
drilling: 6.9 g/t Au over 4m.

Following agreement with  Eti Gümüs A.S.  on Kiziltepe, the  observed
mineralisation at  the  Karakaya  Vein required  re-evaluation  as  a
potential source of high-grade ore for the Gümüsköy processing plant.
 The prospect  is  scheduled to  be  drilled with  the  objective  of
establishing a small surface resource.

Table 2: JORC resource statement for Tavsan.



Classification Zone      Tonnage Grade Grade Au (oz) Ag (oz) Au
                         (Kt)    Au    Ag                    equivalent
                                 (g/t) (g/t)                 (oz)
Indicated      Main      1,700   1.6   4.2   87,460  229,582 92,051
Inferred       Main &    1,300   1.0   3.6   41,801  150,482 44,810
               Sivri
Inferred       Satellite 1,900   1.2   3.7   73,312  226,045 77,833
Total                                        202,572 606,109 214,695


Au equivalent  (oz)  is the  sum  of the  gold  ounces and  the  gold
equivalent ounces of  silver based  on a gold/silver  price ratio  of
approximately 50:1.

TAVSAN PROJECT

The Tavsan  Gold  Project  ("Tavsan") lies  75km  from  the  Sindirgi
Project, 210km northeast of the coastal  city of Izmir and 55km  west
of the Gümüsköy silver mine.  A definitive agreement to purchase  the
Tavsan Project from Odyssey Resources was finalised in May 2008.  The
agreement involved payment of US$500,000 and 3,000,000 shares in  the
Company at 5p  per share,  with a  retained royalty  of up  to 2%  on
future gold production  from the project  assigned to Teck  Cominco.
Current  JORC  compliant  resources  stand  at  215,000  ounces  gold
equivalent (Table 2).

The  project  is  located  within  an  important  regional  trend  of
epithermal  gold  mineralisation,  known  as  the  Dagardi   Antimony
Province.  The  Tavsan project  itself contains  three distinct  gold
prospects: Tavsan,  Evciler and  Çaldibi.   A total  of 8km  of  gold
mineralised jasperoid has been identified in outcrop on the project.

Tavsan Prospect
The Tavsan  prospect contains  4km  of outcropping  gold  mineralised
jasperoid, which is located along a low-angle thrust fault separating
underlying  Jurassic   limestone  from   overlying  Late   Cretaceous
ophiolitic rocks.   The  outcropping  jasperoid  occurs  in  an  area
covering approximately 4km  by 4km  and is well  serviced by  asphalt
road and  forestry  tracks.   Individual segments  of  jasperoid  are
exposed at surface  for 500m and  are up  to 20m thick.   Due to  the
relatively gently  dipping  nature  of the  jasperoid,  much  of  the
mineralisation is potentially open-pittable.



Although a formal scoping  study was not  initiated in 2008,  certain
steps were taken to improve understanding of the project, including a
revised resource  estimate,  heap-leach testwork  and  a  preliminary
economic model.  Due to the simplicity of the project and  acceptable
metallurgical  recoveries  reported  in  column-leach  testwork,  the
Company considers merit in its development as a heap-leach  operation
capable of delivering 30,000 ounces per annum.  The Company envisages
production at a rate of 1Mt per annum via the development of a linked
series of shallow pits across the prospect.

The Company  is presently  considering its  options for  the  further
development of the Tavsan prospect.

JOINT VENTURE EXPLORATION

Reconnaissance exploration in eastern Turkey for large porphyry Cu-Au
and related deposits identified potential in north-eastern Turkey and
resulted in the  acquisition of  the Ardala Project  by the  Company.
 This project, in addition  to several other  licences, is now  being
advanced through a Joint  Venture agreement with European  Goldfields
Limited.  A Joint  Venture exploration company,  49% owned by  Ariana
Resources  and  named  Pontid  Madencilik  San.  ve  Tic.  Ltd.,  was
established in May 2008. The  Joint Venture includes a free-carry  to
Bankable Feasibility  at 20%  or  10%, for  initial projects  or  new
projects,  respectively.    Meanwhile,  an   earlier  Memorandum   of
Understanding with Besler  Insaat Turizm ve  Madencilik San. ve  Tic.
Ltd.  to  explore  certain  licences  in  south-eastern  Turkey   was
cancelled in early 2008 following initial reconnaissance.

Ardala Project
The Ardala Prospect is located  in the Pontide Metallogenic  Province
of Turkey and lies approximately  80km southeast of the coastal  city
of Hopa and 20km east of Artvin.  The prospect was acquired according
to a royalty agreement for  which a 1.5% NSR  will be payable in  the
event that the project enters production.

The  prospect  hosts   a  porphyry   copper-gold  (plus   molybdenum)
mineralised system associated with a series of nested quartz  diorite
intrusions   of    Eocene   age    within   an    Upper    Cretaceous
volcano-sedimentary sequence.   Exposed parts  of the  porphyry  have
dimensions of 600 by 700m and interpretation of ground magnetic  data
suggests  further  lateral   continuity  beneath  limestone   units.
Twenty-nine drill holes  were undertaken on  part of the  mineralised
system in the early 1990's  for which an outline (non-JORC)  resource
of 20Mt at an average grade of 0.25  % Cu, 0.45 g/t Au and 65 ppm  Mo
was established.  Surrounding gold-bearing skarns, with a peak  grade
of 5.16 g/t Au and 0.2% Cu in rock-chips, remain undrilled.

In 2008, a  major new soil  anomaly, named the  Salinbas Target,  was
discovered on the property, to the south-west of the area drilled  by
previous operators.  Rock-chip samples taken from this area  included
16.4 and 18.4  g/t Au in  gossaniferous breccia, and  1.92 g/t Au  in
porphyry and 0.4 g/t Au in  skarn.  The Salinbas Target is just  over
1km from the area drilled in the 1990s and has a strike of about  1km
and width of 0.3km.  An additional  licence was secured in this  area
to cover the Salinbas  Target and drilling is  scheduled on this  and
other targets during 2009.

OUTLOOK

2008 was a busy  and successful year for  the Company, which saw  the
acquisition of the Tavsan Project, the initiation of a Joint  Venture
with European Goldfields, and the further development of Kiziltepe to
enable trial  mining  to commence  in  early 2009.   The  Company  is
expecting to  receive  first  cashflow from  Kiziltepe  in  the  near
future, laying the foundations for  another promising year of  growth
for Ariana Resources.

Dr. Kerim Sener
Managing Director
29 May 2009
Summarised Consolidated Income Statement
For the year ended 31 December 2008


                                                           2008  2007
                                                          £,000 £,000
Administrative costs                                      (608) (516)
Investment income                                            29    65
Share of loss of associate                                 (25)     -

Loss before tax                                           (604) (451)

Tax                                                           -     -
Loss for the year attributable to equity shareholders of
the company                                               (604) (451)
Earnings per share:
Basic and diluted loss per share (pence)                   0.71  0.84




Summarised Consolidated Balance Sheet
For the year ended 31 December 2008


                                    31 December 31 December
                                           2008        2007
                                          £,000       £,000
ASSETS
Non-current assets
Trade and other receivables                 126         124
Intangible assets                         3,401       2,082
Land, property, plant and equipment         230          45
Interest in associates                        -           -
Total non-current assets                  3,757       2,251

Current assets
Trade and other receivables                 302         179
Cash and cash equivalents                   143       1,182
Total current assets                        445       1,361
TOTAL ASSETS                              4,202       3,612

EQUITY
Called up share capital                     927         713
Share premium                             4,282       3,419
Other reserves                              720         720
Share options                               100           7
Translation reserve                          63          38
Retained earnings                       (2,046)     (1,442)
Total equity                              4,046       3,455

LIABILITIES
Current liabilities
Trade and other payables                    156         157
Total current liabilities                   156         157

TOTAL EQUITY AND LIABILITIES              4,202       3,612




Summarised Consolidated Statement of Changes in Equity
For the year ended 31 December 2008


              Share   Share    Other   Share Translation Retained
            capital premium reserves options     reserve earnings Total
              £,000   £,000    £,000   £,000       £,000    £,000 £,000
Changes in
equity to
31 December
2007
Balance at
1 January
2007            470   2,738      720       7        (11)    (991) 2,933
Loss for
the year          -       -        -       -           -    (451) (451)
Total
recognised
income and
expenditure
for the
year              -       -        -       -           -    (451) (451)
Foreign
currency
translation
differences       -       -        -       -          49        -    49
Issue of
share
capital         243     729        -       -           -        -   972
Expenses
offset
against
share
premium           -    (48)        -       -           -        -  (48)
Balance at
31 December
2007            713   3,419      720       7          38  (1,442) 3,455
Changes in
equity to
31 December
2008
Loss for
the year          -       -        -       -           -    (604) (604)
Total
recognised
income and
expenditure
for the
year              -       -        -       -           -    (604) (604)
Foreign
currency
translation
differences       -       -        -       -          25        -    25
Share based
payments          -       -        -      93           -        -    93
Issue of
share
capital         214     863        -       -           -        - 1,077
Balance at
31 December
2008            927   4,282      720     100          63  (2,046) 4,046





Summarised Consolidated Cash Flow Statement
For the year ended 31 December 2008


                                              A    2008  2007
                                                  £,000 £,000
Cash flows from operating activities
Cash generated from operations                    (613) (548)

Net cash outflow from operations                  (613) (548)


Cash flows from investing activities
Purchase of land, property, plant and equipment   (231)  (25)
Payments for intangible assets                  (1,125) (770)
Purchase of an interest in associates              (25)     -
Interest received                                    28    54
Net cash used in investing activities           (1,353) (741)

Cash flows from financing activities
Proceeds from issue of share capital                927   924
Net cash proceeds from financing activities         927   924

Net decrease in cash and cash equivalents       (1,039) (365)
Cash and cash equivalents at beginning of year    1,182 1,547

Cash and cash equivalents at end of year            143 1,182




Principal accounting policies

This statement  has  been  prepared  using  accounting  policies  and
presentation consistent with those applied in the preparation of  the
statutory accounts  of  the  Group  and  under  the  historical  cost
convention.

1. Basis of preparation

The Group  consolidated financial  statements have  been prepared  in
accordance with International Financial Reporting Standards (IFRS) as
adopted by the  European Union, effective  for the Group's  reporting
for  the  year  ended  31  December  2008.   The  separate  financial
statements of the Company are presented as required by the  Companies
Act 1985.

These financial statements  have been prepared  under the  historical
cost convention,  and  the  accounting  policies  have  been  applied
consistently throughout the Group.   These financial statements  have
also been prepared  on the  going concern basis,  further details  of
which are set out in note 4.

2. Loss per share

The calculation  of  basic  loss  per share  is  based  on  the  loss
attributable to ordinary  shareholders of  £604,000 (2007:  £451,000)
divided by the weighted  average number of  shares issued during  the
year 85,067,170 (2007:  53,488,941) in  issue. There  is no  dilutive
effect of share options or warrants on the basic loss per share.

3. Events after the balance sheet date

On  the  14  January  2009  the  Company  finalised  a  placement  of
50,000,000 new ordinary  shares for  £500,000 (gross  of share  issue
costs) and issued  12,300,000 warrants  to buy ordinary  shares at  1
pence valid for a four year period.

4. Going concern

The financial position of  Ariana, its cash  flows and liquidity  are
described in the  summary accounts. The  current economic  conditions
provide challenges to the board and it is their prime  responsibility
to ensure the Company remains a going concern.  A placing in  January
2009 raised £500,000 (gross of share issue costs) and cash-flow  from
trial mining is expected in 2009.  In  the later part of 2008 and  in
quarter one 2009 the Company took measures to reduce its overheads.

The directors are aware that the Group will need to raise  additional
working capital  during  2009  to  support  corporate  overheads  and
exploration programmes,  and  to  maintain the  Company  as  a  going
concern.  The Company  is also considering  other options,  including
the sale  of  assets to  raise  finance.  Although  Ariana  has  been
successful in raising finance in the past, there is no assurance that
it  will  obtain  adequate  finance  in  the  future.   However,  the
directors  have  a  reasonable  expectation  that  they  will  secure
additional funding  when  required  to  continue  operating  for  the
foreseeable future.  For this reason, the directors continue to adopt
the going concern basis in preparing the financial statements.

5. Summary accounts

The summary accounts set out above do not constitute statutory
accounts as defined by Section 240 of the UK Companies Act 1985.  The
summarised consolidated balance sheet at 31 December 2008 and the
summarised consolidated income statement, summarised consolidated
statement of changes in equity and the summarised consolidated cash
flow statement for the year then ended have been extracted from the
Group's 2008 audited statutory financial statements.  The auditor's
report on the statutory financial statements for the year ended 31
December 2008 was unqualified and did not contain any statement under
Section 237(2) or (3) of the Companies Act 1985.

This  announcement  includes  extracts  from  the  audited  statutory
accounts for the year  to 31 December 2008  upon which the  auditors'
opinion is modified on the basis of an emphasis of matter opinion and
going concern.  The comparative  figures relating to  the year to  31
December 2007 are taken from the audited statutory accounts for  that
year.

6. Annual Report

The Annual Report for the year ended 31 December 2008 will be posted
to shareholders shortly.  The Annual General Meeting of the Company
will be held at The East India Club, 16 St James's Square, London,
SW1Y 4LH on 29 June 2009 at 12.00 noon.

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