Ariana Resources

Ariana Resources is an AIM-listed and PLUS-traded exploration and  development company focused on epithermal gold-silver and porphyry copper-gold deposits in Turkey.  The Company is targeting the definition of over 1 million ounces of gold in western Turkey.

The Company is exploring a portfolio of prospective licences 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, 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.

Ariana is spearheaded by an experienced Turkish management team, delivering success to its shareholders via an intelligent exploration and development strategy.  This has achieved the following:
 
·          400,000 oz of resources defined

·          Discovery costs of only ~10 US$/oz

·          Generation of five drill-stage prospects

·          Active JV in north-eastern Turkey
 
Ariana Resources continues to add value through innovative joint ventures, farm-out deals and royalty swaps.  The Company aims to be the next gold producer in Turkey, starting as early as 2010.


Ariana's 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


Ariana's 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.

Ariana is exploring three principal projects within the WAVE Province: Sindirgi, Ivrindi and Demirci. The region surrounding these projects is named the WAVE Project Area, with our base of operations at Sindirgi located strategically at its core.

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 continues to evaluate new opportunities elsewhere in Turkey for acquisition or joint venture.

Summary of Current Activities

Despite the long history of mining in Turkey, almost 9,000 years, the country represents one of the most important new exploration frontiers for gold in the world today. As relatively little modern exploration for gold has occurred and given the undisputed geological potential coupled with a politically and economically stable environment, the country represents a unique opportunity for gold exploration on the doorstep of Europe.

In the last few years the number of exploration companies operating in Turkey has increased from 6 in 2002 to 23 in 2007. Ariana, having initiated its interest in the country in 2002, was one of the first companies to enter Turkey before this boom in activity, and it continues to carry its first mover advantage.

Geological Overview

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.

Distribution of Ariana advanced projects and exploration tenements

(click on map to enlarge)

Recent Discoveries

The first recent discovery of gold in Turkey was made in 1988. This discovery became the first modern gold mine in the country; the 1Moz Ovacik gold mine, which began production in 2001 and is now one of the most advanced in the world, maintaining the highest of environmental standards. In 2006, production started at the 5Moz Kisladag gold mine, one of the largest new gold mine developments in Europe.

At present there are four operating gold mines in Turkey, with a further two gold deposits expected to be developed in to mines in the medium term. The country has estimated gold resources of over 16 million ounces contained within nine major deposits.

Mining Law

The new mining law, implemented in 2004, has provided further encouragement for investment in the sector. This law, coupled with other pertinent modifications of the legislative framework, has amplified foreign participation in the mining sector. A competitive state royalty and corporation tax regime, coupled with certain VAT exemptions on gold and silver exploration has created a positive operational environment. Government support for the mining sector is also high.

FOR FURTHER DETAILS ON ARIANA'S DEVELOPMENT, EXPLORATION, DRILLING AND JOINT VENTURES VISIT:

http://www.arianaresources.com/s/Development.asp

THE BOARD

Michael Spriggs, BA (Hons) MA MSc
Chairman
    
Kerim Sener, BSc (Hons) MSc DIC PhD
Managing Director

Michael de Villiers, B. Comm. Professional Accountant
Non-Executive Director and Company Secretary

David Reading
Non-Executive Director, aged 52

William Payne, BA (Hons) ACA
Chief Financial Officer (not a director), aged 43

FOR MORE INFORMATION ON ARIANA'S BOARD CLICK HERE

FOR INFORMATION ABOUT ARIANA'S MANAGEMENT AND STAFF CLICK HERE

Information updated by Proactiveinvestors from Ariana's website 15 Feb 2009

Major shareholders (>1%)