Ariana Resources

• 30/04/12

  Ariana Resources plc : Red Rabbit Gold Project Upd

• 03/04/12

  Ariana Resources plc : Total voting rights

• 22/03/12

  Positive Drilling Results from Salinbas

• 07/03/12

  Ariana Resources plc : Issue of Equity: Exercise o

• 29/02/12

  Ariana Resources plc : Total voting rights

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  22/11/11

  Ariana Resources sees potential for early production at Kepez

  Ariana Resources said surface sampling of the of the Karakaya vein on the Kepez project in Western Turkey has identified higher than previously anticipated concentrations of silver.

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  21/10/11

  Ariana Resources primed and ready for a crucial phase in its development

  Boss Kerim Sener talks to Proactive as the miner enters a pivotal phase in its development.

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  10/10/11

  Ariana Resources spies opportunity to significantly increase gold exploration footprint in Turkey

  Turkey-focused gold miner Ariana Resources said today that it has a “key opportunity” to substantially increase its mineral gold footprint in western Turkey now that licence auctions in the country have been announced.

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  29/07/11

  Ariana Resources looks good value, says Fairfax

  Ariana Resources is focused in western Turkey, where it wants to develop the Kiziltepe mine for its Red Rabbit project. Yesterday, the company revealed that a geophysical study of the asset has returned positive results.

   

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  25/11/10

  Ariana's Red Rabbit partnership the key to getting the shares moving higher

  We speak to Dr Kerim Sener, managing director of Ariana Resources, who updates us on the progress and prospects of the company's Red Rabbit joint venture in Turkey. 

• 01/05/12

  Ariana Resources' Red Rabbit gold project starting to come together - Fairfax

• 30/04/12

  Ariana Resources takes further step towards Red Rabbit feasibility study; shares up

• 22/03/12

  Ariana chief hails exploration success of Salinbas

• 01/02/12

  Ariana Resources seeks further gold exploration licences in Turkey

• 26/01/12

  Ariana Resources: Kiziltepe feasibility study nearly complete; announces US$2 mln loan facility - UP

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  23/04/2012

  Stocktube video - Ariana Resources CEO says its share price doesn't reflect full value

  Kerim Sener, CEO of Ariana Resources (LON:AAU), talks to Proactiveinvestors about the opportunities in Turkey and the importance of the underrated Tavsan asset. Kerim says that the share price doesn't reflect Tavsan at all, just the higher profile asset at Kiziltepe.
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  26/12/2011

  Stocktube video - Ariana Project and Plant Overview

  Ariana's advanced projects are located in western Turkey. Production is currently scheduled to start in 2012 on the Red Rabbit Gold Project. Ongoing exploration is fulfilled through our own work in western Turkey, via joint venture (European Goldfields) and strategic investment (Tigris Resources). Ariana is spearheaded by an experienced management team, which aims to discover and develop new gold mines.
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  04/11/2011

  Kerim Sener, Managing Director of Ariana Resources, talks to Proactive Investors

  Kerim Sener, Managing Director of Ariana Resources (LON:AAU), talks about plans to acquire six or more new gold & silver exploration licences, scope to grow resources at Kiziltepe & Tavsan, progress in north-eastern & south-eastern Turkey, & the first gold pour at Kiziltepe with eight years of production scheduled (Oct 2011).
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  26/05/2011

  Ariana Resources One2One Presentation - 26th May 2011 (PDF)

  Ariana Resources One2One Presentation - 26th May 2011
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  19/10/2010

  Kerim Sener, MD of Ariana Resources, talks about expanding Red Rabbit gold resources

  Kerim Sener, MD of Ariana Resources, talks about expanding Red Rabbit gold resources, a JV with a company that specialises in designing, constructing and commissioning gold plants; one of the most modern, advanced and detailed data sets for Western Turkey, and European Goldfields doubling their Turkey exploration budget. (Oct 2010)

Objective
Ariana's objective is to deliver shareholder value through the discovery of new gold deposits and the development of gold mines in Turkey.

The Company is committed to delivering value through a robust, cost-efficient and focused exploration and development strategy, which integrates geoscientific knowledge and new technologies to identify and advance and develop prospects rapidly.

Ariana is targeting the discovery of a multi-million ounce gold deposit in Turkey and intends to achieve this through a combination of acquisition, strategic partnership and full utilisation of its significant exploration expertise in Turkey.


Strategy
The Company has dedicated much of its exploration effort on 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.

Within this province Ariana has one advanced development project (Red Rabbit Project) and a further two advanced exploration projects (Ivrindi and Demirci). The region surrounding the projects is named the WAVE Project Area, with our base of operations at Sindirgi located strategically at its core. Current resources held by the Company in the WAVE Project Area stand at 401,000 oz.

In addition to containing our advanced projects, the Project Area encompasses the majority of our exploration tenements in western Turkey. The exploration and development risk to future gold resources in this region is reduced due to excellent infrastructure and established local mining operations.

Ariana envisages that an aggregate resource of 1Moz of gold can be achieved within the Project Area and our strategy is designed to build on our existing resource base via exploration and future acquisitions.

In parallel to our resource development and exploration strategy in western Turkey, Ariana has joint ventured its exploration portfolio in northeastern Turkey to European Goldfields Limited. The Company also continues to evaluate new opportunities elsewhere in Turkey for acquisition or joint venture.

History
Ariana Resources was established in 2002 for the purpose of exploring for, acquiring and developing economic gold deposits in Turkey. Since its formation, the company has compiled a substantial, proprietary geological database on Turkey, which it is employing to discover epithermal and porphyry-related gold deposits in the country. Turkey is an exceptional place to explore - it offers highly prospective and under-explored geology, a rapidly and positively evolving political landscape and an increasingly sophisticated investment climate.


Policy
Ariana considers that its primary responsibilities are to its stakeholders: its shareholders and employees, and the communities and environment in which it operates. More specifically, Ariana:

    * Adheres to sound corporate governance policies
    * Maintains a high standard of technical best-practice in its exploration and development activities, and adheres to international standards where applicable
    * Embraces a socially responsible and beneficial approach to health and safety, the environment and community support in its areas of operation
    * Recognises the importance of its employees and the need to attract and continue to challenge its exceptionally talented people

Why Turkey?
Native gold is found extensively in quartz veins in hydrothermally altered volcanic rocks throughout Turkey. Gold mining has played a major role in the history of Anatolia, evidence of which can be seen through shallow mine workings dating back centuries at many of the country's major gold deposits, including those at Kiziltepe. Despite this rich history in gold, the last century passed with limited investment in the sector, and as a result Turkey now represents one of the most important new exploration frontiers for gold in the world today. Ariana, having initiated its interest in the country in 2002, was one of the first companies to enter Turkey before this boom in activity. Not only have we maintained our first-mover advantage but we have also been integral to the development of the industry, due to our founder member status with the Turkish Gold Miner's Association.

Turkey lies within a globally significant metallogenic zone, the Tethyan Eurasian Metallogenic Belt (TEMB). The TEMB extends from south-east Europe, through Turkey, Iran, Afghanistan and Pakistan and through to the Himalayas, and hosts some of the worlds largest gold and copper deposits. Within Turkey the TEMB is subdivided into the Anatolide, Pontide and Tauride metallogenic provinces. Most gold deposits in the country are of the epithermal or porphyry-related types and occur primarily in the west, within the Anatolides and in the north east, within the Pontides. The majority of deposits are of Neogene age and are hosted by volcanic rocks.

Red Rabbit Project

Management Quote: "The Red Rabbit project is a single integrated project comprising Ariana's principal Kiziltepe and Tavsan prospects. Both Kiziltepe and Tavsan are located in a prolific mineralised district with Measured Indicated and Inferred resources of 401,000 oz Au. Following successful trial mining, and gold pour in 2009 the Company intends to fast track this project into production by 2012."

Refined Gold from Trial Mining at Kiziltepe In 2009 Ariana combined the Kiziltepe and Tavsan projects into a single integrated development project. The aim is to fast track Red Rabbit into production by 2012, following successful trial mining and feasibility study carried out in 2009.

Red Rabbit Project Highlights:

• June 2009: First gold pour following trial mining at the Arzu South vein at Kiziltepe. A total of 5,177 tonnes of dry ore was processed with a total gold production of 387 ounces.
• October 2009: MoU with Proccea Construction Co. to develop Red Rabbit. Proccea have made a $500,000 USD good-will payment to Ariana, currently held in escrow pending MoU completion. Proccea will fund $8m USD for an Environmental Impact Assesment (EIA), Feasibility Study and the development of the processing plant.
• February 2010: Positive results from an economic scoping study on Kiziltepe show the potential for one central pit on Arzu South with satellite pits at Banu, Derya, Arzu North and Kepez. (READ MORE)
  

          o Mine life > five years
          o Cash cost US $350-400/oz
          o Production rate 150,000 tonnes/annum
          o In pit resource 1.4--1.7 million tonnes
          o In pit grade 3.5--4.5 g/t Au 50--70 g/t Ag
          o Au recovery ~90%
          o Ag recovery ~80%
          o Strip Ratio 8:1-12-1

Kiziltepe Sector

Management Quote: "The Kiziltepe Sector represents a prolific mineralised district in which we have identified 186,000 oz Au equiv and also has scope for further resource upside potential. Our objective is to begin mine development in this sector following a positive scoping study which indicated an estimated production rate of 150,000 t/pa over a mine life of 5+ years"

Kiziltepe Sector Summary
The Kiziltepe Sector contains 45km of quartz veins encompassing four principle prospects which are summarised below:

• Kiziltepe - The deposit hosts over 20km in strike length of gold-silver bearing quartz veins across an area of at least 3km by 1km. Individual veins are exposed for up to 750m and widths vary between 1m and 14m A JORC-compliant mineral resource of 186,000 oz has been calculated on four of these veins (Arzu South, Arzu North, Banu & Derya). Following a revision to the geological model for the mineralisation ("vein" and "halo), and inferred resources at Kiziltepe, the Company is targeting a total resource of vein and halo mineralisation at a 1g/t Au cut-off as being between 1.4 Mt and 1.7 Mt at gold grades of 2.5 - 3.5 g/t and silver grades of 50 g/t -70 g/t.
• Kepez - The prospect contains 3km of gold-silver bearing quartz veins across an area of at least 2km by 0.5km. Individual veins are exposed for up to 600m and widths vary between 2m and 25m. Three main vein systems have been defined by geological mapping, rock-saw channel and rock-chip sampling, the most important of which is the Karakaya Vein. The Karakaya Vein was sampled during a rock-saw channel sampling programme conducted along the vein outcrop in 2006. RAB drilling in 2009 demonstrated that the thickness of mineralised scree cover across the vein was 3m.
• Karakavak - 15km of gold/silver-bearing quartz veins which have not yet been drilled by the Company. This prospect bears many similarities to Kiziltepe and there is scope for resource additions from this area. Some of these veins will be drilled when the drilling schedule permits.

Management has established a field office and staff housing facilities at Sindirgi to help focus efforts and to enable fast-track development of the project. Local support for the project is significant and the Company employs certain staff from the Sindirgi area.

Franco Nevada Corporation (TSX: FNV) retains the right to a royalty of up to 2.5% on future gold production from the Kiziltepe Sector. (READ MORE)

Tavsan Sector

Management Quote: "The Tavsan Sector presents an opportunity to develop a small-footprint, low-strip ratio, heap-leach gold mine. Current JORC compliant resources stand at 215,000 ounces gold equivalent."

Summary
The Tavsan Sector encompasses three principle prospects which are summarised below:

• Tavsan - 4km of outcropping gold mineralised jasperoid containing an initial JORC resource of 215,000 oz Au equivalent.
• Evciler - 2km of anomalous geochemistry associated with mineralised jasperoid, which has not been tested by drilling.
• Caldibi - 2km of outcropping jasperoid which has not been tested by surface sampling or drilling.

Management has established a field office at the nearby town of Balikoy to help focus efforts and to enable efficient development of the project. Local support for the project is significant and the Company has employed support staff from Balikoy.

Teck Cominco Limited (NYSE & TSX: TCK) retains the right to a royalty of up to 2% on future gold production from the Tavsan Project. (READ MORE)

Michael Spriggs, BA (Hons) MA MSc - Chairman

Michael has 37 years' mining sector experience having graduated from Oxford University with a BA (Hons) in 1964 and an MA in 1968. He obtained an MSc in Geology and Mineral Sciences from the University of Leicester in 1969. He worked for a number of major mining groups, including Anglo American, Falconbridge and Rio Tinto. Michael spent 11 years with the mining team of the UK investment bank SG Warburg (now UBS) from 1986-97. He was appointed Head of the South African Mining Equities Research Team and was subsequently appointed Director of Corporate Finance. Between 1997 and 2004 he was a partner at College Hill, the UK public relations consultancy, as head of the Mining Team. He is presently a consultant to Lothbury Financial Services, the public relations consultancy. He is a Committee Member of the Association of UK Mining Analysts, a Member of The Institute of Materials, Minerals and Mining and is a Chartered Engineer. Michael serves on the Company's Audit Committee and is chairman of the Company's Remuneration Committee.
    
Kerim Sener, BSc (Hons) MSc DIC PhD - Managing Director
Kerim graduated from the University of Southampton with a first-class BSc (Hons) degree in Geology in 1997 and from the Royal School of Mines, Imperial College, with an MSc in Mineral Exploration in 1998. After working for Independence Gold Mining Pvt. Ltd. (Lonmin Zimbabwe) he completed a PhD at the University of Western Australia. During his PhD, in 2000-2003, he worked with ASX-listed Northern Gold NL in the Northern Territory and on a variety of exploration consultancy projects in Western Australia. In 2009, he completed his military service in Turkey. He is a Fellow of The Geological Society of London, Member of The Institute of Materials, Minerals and Mining, Member of the Chamber of Geological Engineers in Turkey and a member of the Society of Economic Geologists. He is a non-executive director of ASX-listed Genesis Resources Limited in Australia.
    
Michael de Villiers, B. Comm. MIOD Professional Accountant - Non-Executive Director and Company Secretary
Michael qualified as a Professional Accountant with Ernst & Young in Cape Town. Michael gained his experience as financial manager at mining and chemicals operations in Namibia, Botswana, Ghana, Bulgaria and the United Kingdom. He is currently Finance Director of AIM-listed Mercator Gold plc, Norseman Gold plc and is CFO of Eurasia Mining plc, and was previously the Finance Director of Oxus Gold plc and Navan Mining plc. Michael serves on the Company's Remuneration Committee and is chairman of the Audit Committee.

William Payne, BA (Hons) ACA - Non-Executive Director and Chief Financial Officer
William studied Accountancy at Exeter University before training and qualifying as a Chartered Accountant with KPMG in London. He left after 5 years there to become a partner in W H Payne and Co. in 1991. In 2003 he became a partner in top thirty accountancy practice Wilkins Kennedy at their London office. He has a wide diversity of clients, and roles range from audit and assurance to planning, reporting and compliance. He is head of the firm's Property and Construction Group, and is responsible for several outsourced accounts and administration functions. William is also a director of a number of companies, including a company listed on the London PLUS Markets.

Click here for information on Ariana's Management

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Major shareholders (>3%) as of 26 May 2011

Updated from Ariana Resources website 14.09.11

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