Mariana Resources Ltd is an AIM and TSX quoted exploration and development company with an extensive portfolio of gold, silver and copper projects in Argentina and Chile. In southern Argentina, in addition to the Las Calandrias gold-silver discovery, the Company has the Sierra Blanca silver-gold prospect (70%); the Los Amigos joint venture (49%) with Hochschild Mining and a 160,000 Ha land package (100%) in the country. All of these projects are located in the Deseado Massif epithermal gold-silver district in mining-friendly Santa Cruz province of southern Argentina, which hosts four mines and several advanced projects. In Chile, Mariana has a joint venture with US based international mining and natural resources company Cliffs Natural Resources Inc., to explore for iron oxide-copper-gold deposits (‘IOCG’) in a 92,000 km² area (“SCM Mariana Area”) in north-central Chile along the highly prospective Atacama Fault Zone. The SCM Mariana Area includes the 44km² Buenaventura and 46km² Perro Chico IOCG projects. Mariana is also evaluating a number of gold-silver and copper-gold opportunities away from the Cliffs JV area, as part of a new initiative.



The Guardian-Our share tips for 2012...

Nick Fletcher

Aim listing mining group Mariana Resources has a number of gold and silver projects in Argentina and Chile, and recent drilling results from its Sierra Blanca site have been encouraging. AngloGold Ashanti recently showed confidence in Mariana by paying 12p a share to take a 19.9% interest, with the cash helping to fund the company's drilling programme for the next 12 months or so. This news prompted analysts at Fox Davies to put a 22p target on the shares, currently 10p. There is plenty of scope for consolidation among mining companies in the region, and in the long term Mariana may look at selling some of its projects, seek further partnerships with major mining groups or agree to a takeover.

http://www.guardian.co.uk/business/2011/dec/27/share-tips-for-2012
Capital Structure
At 31 January 2012.

Issued capital 228,740,487 Ordinary shares Unrestricted on AIM, none held in Treasury. 47,105,557 Restricted on TSX
Options 16,611,000

Significant Shareholders
The holders of more than 3% of the fully paid shares on 31 January 2011 are listed below:

Name No. of shares held % held
AngloGold Ashanti Holdings Plc 45,418,212 19.86
Hochschild Mining Holdings Limited 11,002,948 4.81
Craton Capital 8,000,000 3.50
Australian Investors P/L 7,547,500 3.30

* Percentage of shares not in public hands - Directors and management hold 4.50% of issued

Major gold discovery at Marianas 100% owned Dos Calandrias* Project, Santa Cruz, Argentina

Exploration Update

The current quarter has been the most active in Marianas history.

The decision to go on the front foot earlier in the year by raising funds in a difficult market to drill priority targets has paid off with the recent Dos Calandrias gold-silver discovery in Santa Cruz, Argentina.

Wide zones of epithermal gold-silver mineralisation hosted by brecciated rhyolite were intersected at the Calandrias Project (Calandria Sur Prospect) ranging from 71 to 102m @ 1.1-1.6 g/t Au and 17-23 g/t Ag (CDN 13,15 and 16) with bulk tonnage potential indicated. Follow up drilling (infill, step out) plus first pass drilling of remaining 75% of prospective rhyolite dome perimeter, guided by IP geophysics and lag geochemistry planned Q1 2010.

In breaking news, Mariana has an option to acquire IAMGOLDs 30% interest in the Santa Cruz JV giving the Company scope to move to full ownership. This will stimulate drilling next quarter at the Veta Chala silver-gold discovery to follow up intersections such as 11.0m @ 3.4 g/t Au and 386 g/t Ag and 14.3m @ 2.8 g/t Au and 242 g/t Ag.

In yet another recent development, Hochschild Mining (51%) and Mariana (49%) have agreed to JV 13,500 Ha of pooled concessions at Los Amigos in Santa Cruz and explore prospective NW trending epithermal veins. US$2M will be spent over 3 years on a 60% Hochschild, 40% Mariana basis to maintain 51-49% interests (minimum US$500,000 in year 1). The JV allows Hochschild to earn 70% in the following period.

In short, Mariana has rapidly become a significant player in the Deseado Massif of Santa Cruz, Argentina now a world ranked mining and exploration region for epithermal precious metals.

Mariana has a 100% owned 160,000 Ha land package pipeline from which two high priority projects have already emerged: Dos Calandrias and Los Amigos. First pass exploration of other areas in the portfolio continues.

exploring FOR GOLD, SILVER & COPPER IN south america
www.marianaresources.com

MARIANA RESOURCES LIMITED

16 December 2009.

AIM and PLUS: MARL

Issue of Equity

Mariana Resources Ltd (Mariana Resources or the Company), the AIM quoted
exploration and development company focussed in Argentina and Chile, advises
that the final tranche of 3,300,000 shares that formed part of the 2.9 million
placement of 22,700,000 shares at 13 pence per share, announced on 16 November
2009, has now been settled and the shares issued.

The Company further announced on 30 November 2009 that it had entered into an
agreement with IAMGOLD Corporation (IAMGOLD) giving Mariana Resources the
option to acquire the remaining 30% interest held by IAMGOLD in the Santa Cruz
Joint Venture in the emerging Deseado Massif gold-silver district in Southern
Argentina. The 1,000,000 shares in Mariana Resources as consideration for the
option have been issued at an implied price of 14.82 pence per share.

The total issued capital of the Company now comprises 128,228,235 ordinary fully
paid shares.

Miner Hochschild's investments in other precious metal groups now account for 11% of total assets. This diversification into gold and other locations makes strategic sense. Hochschild operates four underground epithermal vein mines, three in Peru, one in Argentina and one open pit mine in Mexico. The outlook for precious metals remains positive as the outlook for the dollar is negative. The shares are trading on a March 2010 earnings multiple of 18.8, falling to 15.2 in 2011. Buy says the Sunday Telegraph.

LONDON (Dow Jones)--Mariana Resources Limited (MARL.LN), said Wednesday that Hochschild Mining Holdings, operator of the Los Amigos Joint Venture has advised that three Reverse Circulation holes have been drilled for a total of 900 meters at the project located in the western sector of the Deseado Massif in the Santa Cruz Province of southern Argentina. MAIN FACTS: -All three holes intersected wide alteration zones and contain intervals between 1 and 10 meter wide with quartz veinlets. -Assay results are expected towards the end of February 2010. -The partners have agreed to spend $2 million on exploration within a three year period, to be paid 40% by Mariana and 60% by Hochschild, to confirm participating interests of 49% and 51% respectively. -A budget of $500,000 is committed in the first year. -Hochschild can earn a further 9% by funding 60% of the next $3 million in the following two years and a further 10% by either completing a Feasibility Study or, if requested by Mariana, providing project financing, repaid out of 80% of Mariana's share of cash flow. -This could see Hochschild's interest increase to a total 70%. -By London Bureau, Dow Jones Newswires

4 March 2010
10:12 AM

Mariana Resources to start drilling at Las Calandrias
Business Financial Newswire
Gold, silver and copper explorer Mariana Resources is to start drilling at the company's Las Calandrias Project in Argentina.

This follows completion of detailed mapping and an IP survey following the Calandria Sur discovery in late 2009.

MD John Sutcliffe said the recently discovered 10sq km Las Calandrias-El Nido dome complex greatly increased the exploration potential of the project for both high-grade vein and bulk tonnage mineralization.

'The recent IP [Induced Polarization] survey has highlighted some priority concealed targets. An exciting drill campaign is about to start and will follow up the Calandria Sur gold-silver discovery and scout drill selected IP targets elsewhere on the property

08/04/10 - 10:25
Mariana Resources reports good progress
Business Financial Newswire

South American exploration company, Mariana Resources reports good progress with drilling at its Las Calandrias Project in Southern Argentina.

Fourteen diamond drill holes totalling 1,560m have been drilled to date at Calandria Sur and core samples from the first four holes have been submitted to assay laboratory with the results expected later this month.

Ongoing exploration has also identified new drill targets at El Nid Norte. Abundant visible gold and silver mineralization was noted in a narrow mineralized structure within this zone.

MD John Sutcliffe comments:"We are pleased to report good progress of the drilling at Las Calandrias with the first batch of assays results expected by around the end of April.

"The wide zones of brecciation and stockwork sulphide mineralization in these latest holes are most encouraging.

The recent bonanza gold and silver assays in follow up channel sampling at the El Nido Norte prospect are very exciting and present new drill targets."

Thursday, April 08, 2010

Mariana Resources reports good progress from Las Calandrias drilling programme

Mariana Resources (AIM: MARL) expects to receive the first batch of assays from its exploration of the wholly-owned Las Calandrias Project in the Santa Cruz Province of Southern Argentina. Drilling, as part of the 3,500m programme, is ongoing and Mariana is testing the propertys priority targets - Calandria Sur, El Nido and Calandria Norte.

At Calandria Sur, Mariana has completed 14 holes covering a total of 1,560m. So far, the drilling work has encountered broad zones of brecciation, silicification and stockwork marcasite mineralisation ranging from 14m to 80m down-hole.

"We are pleased to report good progress of the drilling at Las Calandrias with the first batch of assays results expected by around the end of April. The wide zones of brecciation and stockwork sulphide mineralization in these latest holes are most encouraging, Mariana Resources MD John Sutcliffe commented.

To date, the drilling at Calandria Sur has been testing down-dip extensions below the 2009 drill holes - CS13, 15 and 16 - and possible strike extensions west and northwest along the rhyolite dome. The new undercut holes are testing 50 to 60m below previous intercepts, with approximately 40m between drill sections.

A total of 495 samples from the first four diamond holes have been submitted to the assay laboratory and initial results are expected late April, with remaining batches to follow in sequence.

The recent bonanza gold and silver assays in follow up channel sampling at the El Nido Norte prospect are very exciting and present new drill targets" Sutcliffe added.

At El Nido Norte, ongoing exploration has identified a north-east trending 50x80m veined area, abundant visible gold and silver mineralization was noted in a narrow mineralized structure within this zone, Mariana stated. Surface channel samples returned bonanza gold and silver assays including 0.4m at 62 grams per tonne (gpt) gold and 332gpt silver, 0.5m at 106 gpt gold & 510 gpt silver and 0.7m at 75.4 gpt gold & 2,490gpt silver.

Further work is continuing at El Nido Norte with detailed mapping, lag sampling and limited trenching in progress. Mariana said that this new target will be tested as part of the current drill programme.

In total the 5,600 hectare Las Calandrias project consists of four key target areas: Calandria Sur, Calandria Norte, El Nido Este and El Nido Norte. The latest drilling program follows extensive exploration activity in the area, after the Calandria Sur discovery in late 2009. Recent exploration consisted of detailed mapping, rock chip geochemistry and an Induced Polarization Survey (IP).

Las Calandrias, which was formerly the Dos Calandrias project, was subsequently extended to include the Calandria Sur and Calandria Norte mineralised rhyolite dome complexes to south-east and the recently discovered El Nido dome complex located to the west.

MARIANA RESOURCES LIMITED
AIM and PLUS code: MARL

14 April 2010

Mariana and Cliffs Natural Resources Inc. Sign Letter of Intent to Form
Chilean Iron Oxide-Copper-Gold Exploration Joint Venture

Mariana Resources Ltd. ('Mariana' or the 'Company'), the AIM quoted exploration
and development company focussed in Chile and Argentina, has signed a letter of
intent ('the Agreement') with Cliffs Natural Resources Exploration Inc.
('Cliffs'), a subsidiary of the U.S. based international mining and natural
resources company Cliffs Natural Resources Inc., to explore for Iron
Oxide-Copper-Gold deposits ('IOCG') in a 92,000 km area ('SCM Mariana Area') in
north-central Chile. The SCM Mariana Area includes the Company's 44km
Buenaventura and 46km Perro Chico IOCG projects and the 19km Rodados
application which are located in the prospective IOCG Atacama Fault Zone in
northern Chile.

The arrangement would take the form of an incorporated joint venture which
contemplates the following terms.

Summary
* Cliffs may acquire 51% interest in Sociedad Contractual Minera Mariana ('SCM
Mariana') a Mariana subsidiary to be formed expressly for the joint venture,
by funding a US$2M exploration programme
* Cliff's may acquire an additional 19% (to 70%) by spending a further US$1M
* Minimum Cliffs expenditure commitment is US$500,000
* Mariana's Buenaventura and Perro Chico projects are included in the
Agreement and will form the initial exploration focus, with further drilling
planned
* Additionally, SCM Mariana will explore for IOCG targets in a 900km-long zone
which extends from latitude 22S (Tocopilla) to 30 S (La Serena)
* SCM Mariana's current management will operate the mutually agreed work
programmes

Mariana's Managing Director, John Sutcliffe, commented: "This alliance will add
considerable momentum to our Chilean IOCG programme, which will not only include
the Perro Chico and Buenaventura projects, but now encompasses an extensive and
highly prospective part of north-central Chile. It brings together the Mariana
team's Chilean exploration experience and Cliffs' mining and metallurgical
expertise and will facilitate an ambitious exploration programme in this prime
exploration area."

London Market Report
Wednesday 14 Apr 2010 17:39:08

Argentina and Chile-focused exploration and development group Mariana Resources is also in demand after saying it has signed a letter of intent with Cliffs Natural Resources Exploration, a subsidiary of the US mining company Cliffs Natural Resources, to explore for iron oxide-copper-gold deposits in north-central Chile.

From UK-Analyst.com: Wednesday 14th April 2010

South American miner Mariana Resources (MARL) has agreed a joint venture with US firm Cliffs Natural Resources to explore for iron-oxide-copper-gold deposits in north-western Chile. Mariana's Buenaventura and Perro Chico projects will form the initial exploration focus, with further drilling planned. Cliffs may acquire a 51% interest in a Mariana subsidiary to be formed for the joint venture. Mariana shares gained by 2p to 23.5p.

Posted yesterday on another board:

"For me exploration company maker is the jewel in the crown. I genuinely believe that Dos Calandrias will be proven to be a bulk tonnage resource- and that one day it will be the site of an operating mine and probably in the hands of a major by then. With it currently owned 100% by Mariana this offers great potential. A 1m oz resource would be commercial on a relatively small scale-this could easily be the Calandrias Sur dome on its own-although Sur has greater potential. There are other domes and they are mineralised. Soon we are going to hear about the newly discovered and mineralised El Nido (Dome Complex!). Still all exploration and expectation - the risk and of course reward of the unknown (aside from the snippets of excellent news).
With regards to Chile-the licenced areas of particular interest are at present focused on Perro Chico (up to 100% MARL) and Buenaventura (up to 80% MARL). The 92,000km2 designated SCM Mariana Area looks to be the agreed area for all future JV`d activity-all the way along one of the worlds most resource rich faults. So new targets-new excitement -new potential-and someone else is paying.
With 30% still on the table for MARL after the $3mill exploration program paid for by Cliffs (market cap 10,199,948,432-Cliff is not short of a bob or two) I don`t in my wildest dreams think Mariana would be able to hang onto their full 30% share-copper mining is on a huge scale-particularly in Chile which produces 30% + of all the worlds copper (1/3 of this amount from just two mines). Should Mariana and Cliffs have a genuine find on there hands and Marl somehow manage to hold on to more than the 2% net smelter then this too has brilliant potential. But not the company maker as Dos Calandrias needs to shine first so Mariana can make the decision from a position of strength.
By the way it makes me smile when I see El Sauce (resouce drill target) positioned between Pancho II and Carolina at Perro Chico. As far as I am aware no-one on this bb has paid much attention to Chile so far. Looking around the Internet tonight and seeing Mariana mentioned in various publications - maybe (for the first time) in the USA - maybe awareness is coming and on this level who knows if Chile turns out to be more important to us than we ever imagined. That is the beauty of Mariana.
Jay "

MARIANA RESOURCES LIMITED

AIM & PLUS: MARL

22 July 2010

Following the recent placing of approximately 24 million shares at 28p per share
and the exercise of options by directors and others, updated details of
directors' holdings, significant shareholders and options are given below.

DIRECTORS' SHAREHOLDINGS.

The Directors of the Company held an interest in the following shares in Mariana
Resources Limited at 22 July 2010.

Director Number of shares Percentage of issued shares.

John Horsburgh 3,487,502 2.20%

John Sutcliffe 3,841,667 2.43%

Ray Angus 5,504,300 3.48%

Glen Parsons - -



John Horsburgh's interest in ordinary shares includes 1,285,000 held by Dunslair
Pty Ltd and 1,352,000 held by Innerleithen Pty Ltd. On 21 July 2010, Mr
Horsburgh purchased 150,000 shares on market.

John Sutcliffe's interest in ordinary shares includes 175,000 held by his son
and 50,000 held by his partner.

Ray Angus' interest in ordinary shares includes 4.850,000 held by Pershing
Nominees. On 7 July 2010 an additional 150,000 shares were issued to Mr Angus
following the exercise of 150,000 options.

SIGNIFICANT SHAREHOLDERS AT 30 JUNE 2010.

As far as the Company can determine the following shareholders other than
directors held more than 3% of the issued shares of Mariana Resources Limited at
30 June 2010.

Holder name Number of shares Percentage of issued shares.

Craton Capital 12,492,409 7.90%

Hochschild Mining Holdings 11,002,948 6.96%

J. P. Morgan Resources Fund 7,106,143 4.49%

Australian Investors Pty Ltd 5,962,500 3.77%

Soc. Generale 5,403,500 3.42%

Pensions Canada 5,309,500 3.36%

J. P. Morgan Funds 4,973,791 3.15%

Given as a Play of the week in todays' Shares'.
Recent profit taking and minor disappointment have seen price falls over recent weeks,but believes prospects look very good. Priced at 22.5

Chessplayer: Seems as though someone else read the same article. The following was posted on another BB:
Today's article in Shares Magazine.
"All eyes on Mariana drilling - another round of exploration could push the miner's valuation to new highs"
It says the imminent drilling programme could see Mariana repeat its recent success with finding gold and silver, so buy ahead of this event...

Mariana signs Las Calandrias drilling contract
StockMarketWire.com
Mariana Resources has signed a drilling contract for a minimum 10,000m programme at its Las Calandrias gold-silver project in Argentina.

The programme is expected to start during the first week of September and take about four months.

The first of two rigs will be mobilised on-site at the end of August 2010 with a second rig to follow at the end of September.

Mariana says it expects drilling will result in a maiden resource estimate at Las Calandrias' Calandria Sur target by the end of the fourth quarter of 2010.

Story provided by StockMarketWire.com

Mariana JV starts Buenaventura drilling
StockMarketWire.com
Mariana Resources says drilling has been started at the Buenaventura iron-oxide-copper-gold project in Northern Chile by SCM Mariana, its joint venture with Cliffs Natural Resources.

A programme of up to nine diamond drill holes is testing a number of IOCG targets. Assay results are expected from late September.



Story provided by StockMarketWire.com

The next few months look company transforming for Mariana.

Goldcorp to buy Andean Resources for $3.42 billion
Goldcorp to buy Andean Resources for $3.42B; will get access to Cerro Negro gold project

.
Companies:Genpact Ltd..On Friday September 3, 2010, 7:14 am EDT
NEW YORK (AP) -- Canada's Goldcorp Inc. says it has agreed to buy Andean Resources Ltd. for about 3.6 billion Canadian dollars ($3.42 billion).

The acquisition would give the Canadian gold producer access to Andean's Cerro Negro gold project in Argentina, wich is said to have a significant amount of gold and silver.

The deal has been approved by both companies' boards. They expect it to close later this year or in early 2011.

Under terms of the deal, each Andean common share will be exchanged for 0.14 Goldcorp shares or a cash payment in the amount of 6.50 Canadian dollars ($6.17) per share.

The maximum cash consideration will be 1 billion Canadian dollars ($948.6 million).

Shareholders can choose stock, cash or a combination of the two.

Mariana starts drilling in Argentina
StockMarketWire.com
South American explorer, Mariana Resources says that drilling has started at its wholly owned Las Calandrias gold-silver project in Argentina.

MD John Sutcliffe comments: "The 10,000m drill programme will fast-track the Calandria Sur bulk tonnage target towards a maiden resource estimate.

"In tandem with this, exploration drilling of the Calandria Norte bonanza grade vein-breccia gold/silver mineralization and new El Nido targets could further expand the project's economic potential."

Mariana Resources (MARL:AIM) 25.75p Gain to date: 15.7% BUY

Shares in the explorer continue to nudge ahead as a new drilling programme begins and one of its neighbours enters a bidding war. We turned buyer of Mariana (MARL:AIM) at 22.25p (Shares, 29 Jul) in the belief investors would buy as more drilling is done to look at the quality and quantity of gold on its properties in Argentina. It is searching in a prosperous location that has attracted interest from major gold companies. Nearby miner Andean Resources (AND:ASX) last week
received a $3.2 billion takeover bid from Toronto-listed Eldorado (ELD:TSX), then trumped by a $3.5 billion approach from Goldcorp (GG:NYSE) which wants its hands on the targets numerous discoveries. As Shares went to press, market rumours suggest Yamana Gold (YAU) and AngloGold Ashanti (AU:NYSE) were considering counterbids.
Amid this merger and acquisition frenzy, there are high expectations for Marianas drilling results, so investors should accept high levels of risk with this stock. (DC)"

-Shares Magazine 9/9/2010