Kepez gold prospect results reinforce Red Rabbi...

22 November 2011
AIM / PLUS Markets: AAU


                KEPEZ GOLD PROSPECT RESULTS REINFORCE RED RABBIT
                              PRODUCTION POTENTIAL

Ariana  Resources  plc  ("Ariana"  or  "the  Company"), the gold exploration and
development  company focused on Turkey, is pleased to announce a positive update
on  exploration activities  at its  Kepez gold  prospect ("Kepez"),  part of the
Company's flagship Red Rabbit Gold Project ("Red Rabbit") in Balikesir Province,
western  Turkey.  Kepez is located  6.5km to the ENE of  the Kiziltepe Sector of
Red  Rabbit where  a Feasibility  Study ("FS")  is underway ahead of anticipated
commencement of production in late 2012.

Highlights:

  * High  surface silver grades from Karakaya  Vein at Kepez complement existing
    high gold grades
  * Average silver grade is 65 g/t, with a maximum of 277 g/t
  * Gold equivalent grades now average 8.32 g/t, with a maximum of 46.84 g/t
  * High  gold equivalent  grades could  potentially lead  to a  doubling of the
    resource estimate for Kepez
  * Management  reviewing  possibility  of  earlier  production  from  Kepez  in
    combination  with Kiziltepe, where production  is currently scheduled for Q4
    2012
  * Further  targets at Kepez  West identified from  recent geophysical work and
    surface sampling, to be drill-tested Q1 2012

Dr. Kerim Sener, Managing Director, commented:

"These  excellent silver results,  make the already  high-grade Karakaya Vein at
Kepez  an even  more valuable  prospect.  The  resulting gold equivalent grades,
which  could  allow  for  a  doubling  of  the  existing  resource at Kepez, may
potentially  mean that the prospect  is mined earlier in  the Red Rabbit Project
than originally scheduled."

"While  the Karakaya Vein continues  to excite and is  a priority target for our
ongoing  exploration programmes in the  region, it forms only  part of the wider
Kepez  prospect area.  The  geophysics programme conducted  earlier in the year,
coupled  with prospect-wide  surface geochemical  anomalies, lead  us to believe
that  Kepez will yield further high grade areas.  We plan to start drill-testing
these targets in Q1 2012."

Details of Programme

These  results are based on the further analysis of rock-chip and float sampling
conducted on the Karakaya Vein at Kepez (located 6.5km to the ENE of Kiziltepe),
and  an update on the Kepez  West geophysics, sampling and drill-targeting work.
 The  systematic  surface  sampling  yielding  high  gold  and silver grades was
conducted  over  Karakaya  Vein;  the  recent exploration rock-chip sampling and
geophysics  programme was carried out around 1km west  of this, in an area known
as Kepez West.

Karakaya Vein

The analysis of samples previously collected from the Karakaya Vein at Kepez was
undertaken in order to include silver data in our resource estimate for Kepez as
part  of our  feasibility study  programme of  work.  The  Indicated resource at
Kepez  currently stands at 60,000 tonnes at 4.6 g/t Au for 8,900 ounces of gold.
 The  analysis of samples for  silver was based on  the analytical pulps derived
from  a comprehensive float  and rock-chip sampling  programme, which covered an
area on the Karakaya Vein in March 2009 (Figure 1).

The original sampling programme was designed to confirm the distribution of near
surface  mineralisation over the central portion  of the vein from which earlier
channel  samples, which were taken  across and partly down-dip  of the vein, had
reported  good grades.   Sampling was  undertaken on  a grid consisting of eight
north-south  trending lines of 100m length  and 10m spacing.  Samples were taken
every  10m along the lines and at each sample location randomly selected outcrop
or  float samples  were collected  as composites  from a  circular area with 5m
radius  around  the  sample  point.   This  ensured  that  the  8,000m² area was
comprehensively   sampled   with  minimum  bias.   High  grades  were  obtained,
especially towards the southerly extent of the sampling grid.  The maximum grade
reported  by the composite  sampling in this  area has now,  with the additional
silver  results,  been  calculated  to  be  46.8 g/t Au equivalent (41.8 g/t Au,
277ppm Ag).


Figure  1: Sampling  undertaken  over  the  Karakaya  Vein  at  Kepez.  The gold
equivalent  values are  shown for  both rock-chip  and float sampling.  The gold
equivalent  is calculated as the sum of  the gold grade plus the gold equivalent
grade of silver using a price ratio of 55:1.


Kepez West

A  surface sampling and geological mapping programme  on the Kepez West area has
been  completed by  the Ariana  field team  to complement the recent geophysical
surveys carried out on the Red Rabbit Project (see 28th July 2011 News Release).

Kepez  West is an area characterised by both forestry and agricultural land use,
such  that geological  mapping and  sampling was  based on  a mixture of in-situ
outcrop  and  float  sampling  (Figure  2).  A  total of 108 composite rock-chip
samples  were  taken  across  Kepez  West  in  this  manner,  from  a variety of
lithologies including quartz vein, stockwork and altered dacitic volcanic rocks.
 These  samples demonstrated grades up to a maximum of 9.8g/t Au, with 7 samples
returning >2g/t Au and an overall arithmetic mean of 0.4g/t Au.  Areas returning
high  grades were subsequently correlated  with geophysical anomalies to produce
drilling  targets for the  current exploration drilling  programme.  Some of the
priority  targets produced  are shown  in the  map below;  these include several
mineralised quartz veins visible at surface, which are expected to trend E-W.


Figure 2: Sampling undertaken over the Kepez West prospect.  The gold equivalent
values  are shown for both rock-chip and float sampling.  The gold equivalent is
calculated as the sum of the gold grade plus the gold equivalent grade of silver
using a price ratio of 55:1.  The location of geophysics lines is also shown.

Sampling and Assaying Procedures

The  Kepez Karakaya Vein  programme consisted of  the collection of 80 composite
float  and rock-chip samples  of quartz vein  material.  The composite rock-chip
samples  were collected from in-situ rock from the vein outcrops.  The composite
float  samples (a)  included both  weathered material  and/or mined rejects; (b)
represent  scree which has moved downhill; and  (c) were obtained from a blanket
of broken rock which is not more than a few metres thick. For further details on
this programme, see the news release from the 13th May 2009.

The  Kepez West  exploration programme  consisted of  geological mapping and the
collection  of 108 composite in-situ  outcrop and float  samples.  Float samples
were  only collected  where in-situ  outcrop was  not available,  and due to the
nature of the relatively low-gradient terrain at Kepez West, are thought to be a
good  representation of the sub-surface geology. Some shifting from original in-
situ  position  due  to  agricultural  land-use  may  have occurred, but this is
thought to be minimal.

All  samples were prepared by the ALS Chemex preparation facility in Izmir, with
fire  assay for gold  carried out by  the ALS Chemex  laboratory in Romania, and
multi-element ICP-MS analysis undertaken by the ALS Chemex laboratory in Canada.
 Routine  re-assaying of all samples assaying greater than 100 ppm Ag and 10ppm
Au  has also been completed  by ALS Chemex.  Regular  standard and blank samples
are being used in the sample sequence in line with the Company's quality control
procedures.   Every sample was  photographed and analysed  using a hand-held XRF
instrument prior to assay at ALS Chemex.


Contacts:

 Ariana Resources plc              Tel: [phone]

 Michael Spriggs, Chairman

 Kerim Sener, Managing Director



 Beaumont Cornish Limited          Tel: [phone]

 Roland Cornish / Felicity Geidt



 Fairfax I.S. PLC                  Tel: [phone]

 Ewan Leggat / Laura Littley



 St Brides Media & Finance Ltd     Tel: [phone]

 Hugo de Salis / Susie Geliher




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 developing 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.
 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.

The  Company's flagship assets  are its Sindirgi  and Tavsan gold projects which
form  the Red Rabbit Gold  Project.  Both 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 and now form
part  of  a  Joint  Venture  with  Proccea  Construction Co.  The total resource
inventory of the Company stands at 448,000 ounces of gold equivalent.

Ariana   also   has   a   strategic   investment  in  Tigris  Resources  Limited
(www.tigrisresources.com),  a private Jersey-based exploration company, which is
focused  on the exploration of copper  and gold deposits in southeastern Turkey.
 Ariana retains approximately 13% of Tigris Resources Limited.

Fairfax  I.S. PLC are 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





Figure 2: 


http://hugin.info/138153/R/1565527/485907.pdf

Figure 1: 


http://hugin.info/138153/R/1565527/485906.pdf




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Source: Ariana Resources plc via Thomson Reuters ONE

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