Ariana Resources: An early stage gold play with plenty of potential


EXPLORATION AND MINING IN TURKEY


Ariana Resources plc is an AIM-listed and PLUS-traded gold exploration and development company. 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.

Current JORC resources stand at 450,000 oz
Developing the Red Rabbit Gold Project
First production scheduled for 2012
Trial mining commenced in 2009
Quality licence portfolio with seven drill-stage prospects

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 448,000 oz Au equivalent.

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 and made a strategic investment in Tigris Resources (Jersey based private company). The Company also continues to evaluate new opportunities for acquisition or joint venture.

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

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.


http://www.arianaresources.com/investors/presentations

http://www.arianaresources.com/

"

2008 Precious Metals Investment Outlook


By Nick Barisheff of Bullion Management Group



Many global investors are concerned about counterparty risk problems, and what may turn out to be the worst financial crisis the credit markets have ever seen. In addition, the explosive growth in derivatives, new highs in the oil price, unsustainable US consumer debt, and a possible unwinding of the yen carry trade provide plenty to be concerned about.

While investors are concerned about these vulnerabilities in the midst of the worst financial crisis the credit markets have ever seen, the major cause of golds price increases can be attributed to unprecedented increases in global money supply and the inflationary implications. Contrary to the common belief that inflation is an increase in the Consumer Price Index (CPI), the classical definition of inflation is an increase in the money supply, which results in price increases.

Money supply has increased by:
a. 42 per cent in Russia
b. 21 per cent in India
c. 18 per cent in China
d. 12 per cent in UK
e. 8 per cent in Canada

Although the US Federal Reserve discontinued reporting M3 in March 2006, several sources have reconstructed the data and determined that the US money supply is now growing at an unprecedented annualized rate of 16 per cent. Since 2005 the US money supply has increased from US$10 trillion to US$13 trillion. Increases in money supply will likely accelerate, since central banks have announced they are prepared to provide liquidity in unlimited amounts in order to maintain bank solvency and prevent a systemic financial crisis. The inflationary implications of this policy should be obvious.

Golds role in predicting inflation has been documented by several sources. Recent studies by Ibbotson Associates and Wainwright Economics confirm that gold does provide a hedge against inflation over the long term, and that price increases are leading indicators of future inflation. Most recently, the Bank of Canada published a paper entitled Gold Prices and Inflation, which concluded that gold prices contain significant information about future inflation.

Wainwright Economics has conducted studies that show gold, silver and platinum are the best leading indicators of inflation over all other commodities, with platinum taking top honours. Given that gold increased by 26 per cent in 2007 and that platinum increased by 32 per cent (and has now surpassed its 1980 all-time high by nearly 43 per cent), the future outlook for real inflation indicates dramatic increases.

Its not only precious metals, however, that are pointing to much higher inflation rates. Financial media generally use the Core Consumer Price Index (CCPI) as a measure of inflation, although it is only useful for people that dont eat, or use energy. The full CPI has been relatively benign until lately, rising from an annualized rate of 2.5 per cent early in 2007 to 4.3 per cent in November. Even with this recent increase, the CPI understates and lags real inflation.

It is important to understand that the methodology used to calculate the CPI was changed, in the early 1990s, by the Clinton administration. Many adjusting factors, such as substitution and hedonic adjustments, were introduced. Recreation of the CPI using the original pre-Clinton formula shows that it is currently increasing at an astounding 8 per cent.Finally, the Producer Price Index (PPI) has increased by 7 per cent, commodities prices by 17 per cent, and oil by 57 per cent in 2007.

In establishing asset allocations for the coming years, a realistic view of inflation is crucial. Real wealth management must take into account real inflation. If real inflation is already at 8 per cent, then long-term bonds are not really a safe investment, but rather a guaranteed loss of purchasing power. And while the equity indexes may make new highs in nominal terms, they will likely experience losses in real terms.

A clearer picture unfolds if investment performance is measured in gold ounces. The Dow:gold ratio is an accurate long-term trend indicator. It peaked at 43:1 in 2000, and had fallen to 24:1 in 2005. It now stands at 16:1. This means that if you purchased a unit of the Dow with 24 ounces of gold in 2005, you would now get back only 16 ounces a loss of 36 per cent, even though the Dow made new nominal highs in 2007.

As we begin 2008, one thing is undeniable: the gold price has been steadily rising in all currencies since the summer of 2005, and that rise is now accelerating. Since climbing precious metals prices are an accurate indicator of future inflation and other economic vulnerabilities, investors would be prudent to structure their portfolios to minimize the effects of rising real inflation, and protect their wealth from systemic financial risks.

According to studies by Ibbotson Associates, precious metals are the most positively correlated asset class to inflation. From a strategic point of view, Ibbotson determined that portfolios could reduce risks and improve returns with a 7-15 per cent allocation to precious metals bullion, without any consideration to rising inflation or the impact of any financial vulnerabilities or imbalances.

Wainwright Economics determined that, in the current rising inflationary environment, bond portfolios need an 18 per cent allocation to precious metals bullion and equity portfolios need 47 per cent just to immunize them against inflation. In order to profit from current market conditions, portfolios should have much higher allocations. While we can debate appropriate percentage allocations, the fact remains that even though precious metals have posted impressive increases since mid-2005, most investment portfolios have no allocation to precious metals whatsoever. As a result, they are not protected from inflation or other systemic vulnerabilities, and are neither balanced nor diversified.

While mining stocks and precious metals proxies and derivatives may provide some exposure and trading opportunities, long-term wealth preservation requires fully allocated, segregated and insured bullion. As we have recently seen, the counterparties to Collateralized Debt Obligations (CDOs) and mortgages may default. The counterparty risk in many derivatives, which Warren Buffett calls financial weapons of mass destruction, is unknown. Since bullion is not dependent on anyones promise, representation or ability to perform, and is not someone elses liability, only it can provide protection against both systemic events and inflation while incurring low levels of risk.As the prices of gold, silver and platinum continue to rise, mainstream investors and institutions alike will begin to reallocate a portion of their resources, which exceed US$187 trillion, to precious metals.

Since above ground supplies of precious metals represent less than US$4 trillion in total, and only US$600 billion in privately held gold bullion, substantially higher price are indicated. If global investors decide to allocate even a modest 10 per cent of their assets to gold, US$18 trillion in financial assets will attempt to move into this tiny US$4 trillion market and higher prices will be the inevitable result.

When that reallocation begins, gold at US$1,100 per ounce will look like a bargain

smiler .... nothing polite i'm afraid ..... this company is so tiny that sp will move dramatically in the slightest puff of wind ..... charts on a co this size are a bit meaningless, but having looked at it, it certainly doe nothing to inspire ...... if you want to invest a good little gold miner, then CEY is streets better than AAU

Will take a look :)

"LONDON (Thomson Financial) - Ariana Resources PLC said its new drilling
programme on the Arzu south and north veins at its Kiziltepe gold prospect in
Turkey has started and is expected to be concluded by March.
"The results from the ongoing drilling programme at the Kiziltepe prospect
continue to confirm our expectation that the Sindirgi project will yield an
economic gold resource," Ariana's managing director Dr Kerim Sener said.
"2008 promises to be an important year for the company's progress towards
becoming a gold producer in Turkey," Sener added."

Well I like the look of AAU as a long term punt !!

13 February 2008
AIM / PLUS Markets: AAU

SUBSTANTIAL SHAREHOLDING

Ariana Resources plc ("the Company"), the gold exploration company
focused on Turkey, announces that it received notification on 13
February 2008 that Starvest plc, further to an acquisition of
3,000,000 Shares on 11 February 2008, now owns 12,256,000 Shares,
representing a holding in the Company's issued share capital of
17.19%.

Contacts:

14 February 2008
AIM / PLUS Markets: AAU

POSITIVE DRILLING RESULTS: KIZILTEPE

Ariana Resources plc ("Ariana" or "the Company"), the gold
exploration company focused on Turkey, announces the results from the
seven most recent Reverse Circulation (RC) drill holes completed on
the Banu Vein at the Kiziltepe gold prospect. The results show the
potential for resource additions to be derived from veins other than
the Arzu South and North vein system at the Kiziltepe prospect within
the Sindirgi Project.

Highlights

Ariana Resources reports positive drilling results from Kiziltepe gold prospect
AFX


LONDON (Thomson Financial) - Ariana Resources PLC has reported positive drilling results from the seven most recent drill holes completed on the Banu Vein at the Kiziltepe gold prospect in Turkey.

The gold exploration company said the results show the potential for resource additions to be derived from veins other than the Arzu South and North vein system at the Kiziltepe prospect within the Sindirgi project.

The latest drilling has confirmed the distribution of gold and silver grade along a greater strike length than that tested and reported on in 2007, the company said.

'We have scheduled further drilling to start in late February, which will test a 200 metre strike extension of the vein that has only been channel sampled to date,' Ariana's managing director Kerim Sener said.

The company also said that it has decided to extend the diamond drilling programme by up to 1,500 metres to test new target areas on the Kiziltepe prospect.

TFN.newsdesk@thomson.com

Key points from last weeks announcement.

"The results show the potential for resource additions to be derived from veins other than the Arzu South and North vein system at the Kiziltepe prospect within the Sindirgi Project".

The only area considered in estimates so far is ARZU so this will be additional. Arzu is only 5% explored.

The rig has moved on to Arzu South and North in mid January and will be back on Banu in late February so we can expect results for Arzu in mid March or earlier if its released in two batches. The rig then moves back to Banu for more drilling (extended programme). This is moving us nicely towards the arrival of our rig in May.

http://www.proactiveinvestors.co.uk/articles/art.php?AAU4

28 February 2008
AIM / PLUS Markets: AAU

JOINT VENTURE WITH EUROPEAN GOLDFIELDS

Ariana Resources plc ("Ariana" or "the Company"), the gold
exploration company focused on Turkey, is pleased to announce that it
has signed a Heads of Agreement with European Goldfields Limited (TSX
/ AIM: EGU) for the joint development of Ariana's properties in
north-eastern Turkey, which include the Ardala copper-gold porphyry
and eleven other licences covering a total area of 168km2. Completion
of the Joint Venture and a related placing in Ariana is expected by
mid-April 2008, conditional upon satisfactory due diligence and the
signing of definitive agreements.

Highlights


* Joint venture to develop the Artvin properties, including the
Ardala Cu-Au Project



* Exploration programme to be funded by European Goldfields



* Significant projects to be advanced to Bankable Feasibility


Details of Joint Venture

The Joint Venture is focused on the Pontides region of Turkey, a
highly prospective geological terrain containing several major
deposits. The Ardala Cu-Au porphyry has been the subject of
reconnaissance drilling around the periphery of a porphyry intrusion,
which identified encouraging grades of copper and gold. It has a 600m
x 700m surface exposure centred on a magnetic high of 1,000m x 1,000m
extent. Copper-gold mineralisation has also been identified on other
properties in the vicinity of Ardala within granitoids and in the
surrounding country rocks.

Under the agreement, European Goldfields will initially own 51% of
the properties transferred by Ariana in to the Joint Venture.
European Goldfields will then fund all development costs of these
initial properties and any future properties located within a defined
area in north-eastern Turkey until completion of a Bankable
Feasibility Study, at which time European Goldfields' interest in
each relevant project will increase to between 80% and 90%,
respectively.

In addition, European Goldfields has agreed to subscribe for new
shares in Ariana at 5 pence per share in a private placement,
resulting in European Goldfields owning 20% of the outstanding shares
in Ariana following the placement.

Dr. Kerim Sener, Managing Director, commented:

"We are delighted by the initiation of our partnership with European
Goldfields in north-eastern Turkey, which promises a robust and
effective approach to the exploration for large copper-gold and gold
deposits. This joint venture forms part of our strategy to advance
our existing ground-holding in north-eastern Turkey, without
detracting from our focused resource development programme in western
Turkey."

"We are also very pleased to see European Goldfields become a
significant investor in the Company. The placement, at a premium to
market, is a strong vote of confidence, and funds us through the next
stages of our development of the Kiziltepe project and acquisition of
the Tavsan project."

David Reading, CEO of European Goldfields, commented:

"We are excited at this opportunity of rapidly growing our business
into Turkey in partnership with Ariana Resources, which has a proven
track record of securing prospective exploration licences and
operating effectively in the country."


Contacts:

7 March 2008
AIM / PLUS Markets: AAU

SUBSTANTIAL SHAREHOLDING

Ariana Resources plc ("the Company"), the gold exploration company
focused on Turkey, announces that it received notification on 6 March
2008 that Starvest plc, further to an acquisition of 4,200,000 Shares
on 5 March 2008, now owns 16,456,000 Shares, representing a holding
in the Company's issued share capital of 23.09%.

Contacts:

RESOURCE INVESTOR: Yeah. Now, during these times of sky-high gold prices, do you prefer producers, developers or explorers? Our readers would love to hear a few of your favourites.

FRANK HOLMES: What your readers should capture is the danger of these gold ETFs - equity ETFs there is a gold equity ETF. And youre seeing money flow into that faster than youre seeing it into gold funds. And with that, youre seeing that basically all the shares in those gold ETFs are getting where all the liquidity is, but if youre outside of that world, then theres hardly any buying.

So a lot of the junior stocks have not had any fresh money come to them, only those that are in the ETFs. That is going to affect capital formation for raising money for a new venture, and some hedge funds have basically ... I remember in November, one particular fund blew out $80 million worth of junior gold stocks in a day.

Not only was it a bad down day, it was just a bad day for juniors because they were underperforming. We saw the juniors last year underperform by 20% versus the overall gold equities. And my concern is that this formation of capital, unless theres some big discovery, significant, big, multi-billion dollar big discoveries, that youre not going to get money going into the exploration plays.

But whats positive (thats the negative part ... now let me talk to you about ... its a threat) let me talk to you about the opportunities. As the bifurcation gets greater between those that are producers, big cap versus mid cap, mid cap versus small cap, youre going to get the Pac-Man. The big caps going to buy the mid cap. So my price to book is at a high level, then Im going to buy a mid cap because its cheaper and safer to buy another company than it is to explore or develop resources. That mid cap is going to run out and buy junior, and the juniors going to buy a developer.

Exploration? Thats high risk. I think thats going to have a difficult time unless its flow-through money. But I think if youve got lots of reserves per share, and you have more than a couple of grams of gold per ton, and its not deep underground, then you all of a sudden show up on the radar screen to be acquired.

http://www.resourceinvestor.com/pebble.asp?relid=41137

Shares mag had some interesting comments including:

"It is a costly exercise to enter a new country on your own...You need to set up an office, form a local company, buy vehicles and so on. Through Ariana, we are already up an running." (David Reading, CE of EG)

"European Goldfields chose not to acquire Ariana outright, saying it didn't want to explore all of the junior's assets. Turkey is dominated by junior exploration companies who are part owned by major producers, holding strategic stakes in case of world-class discoveries."

4 April 2008
AIM / PLUS Markets: AAU

PURCHASE OF TAVSAN PROJECT

Ariana Resources plc ("Ariana" or "the Company"), the gold
exploration and development company focused on Turkey, is pleased to
announce that it has signed a Heads of Agreement for the purchase of
the Tavsan Project (the "Tavsan Project") which comprises a total of
10 licences, from Odyssey Resources Limited (TSX-V: ODX) ("Odyssey").

Highlights


* Purchase of 100% of the Tavsan Project from Odyssey



* Removal of an earn-back right held by Teck Cominco Arama ve
Madencilik Sanayi Ticaret A.S. ("TCAM"), a subsidiary of Teck
Cominco Limited



* Revised royalty structure on the Tavsan Project with TCAM


Dr. Kerim Sener, Managing Director, commented:

"We are pleased to have concluded this agreement with Odyssey
Resources and TCAM. The Tavsan Project demonstrates merit as a low
capital-cost heap leach project which complements our growing
portfolio of resource development opportunities in western Turkey.

"The addition of the Tavsan Project to the Company gives us total
resources of approximately 270,000 ounces gold equivalent. We plan
to undertake additional drilling on the Tavsan Project to add
resources and to initiate a scoping study for a heap leach
operation."

Heads of Agreement

The Heads of Agreement relates to the sale of ten exploration
licences ("Licences") in Turkey owned by Odyssey's subsidiary, Pusula
Madencilik San. ve Tic. Ltd. ("Pusula"), collectively known as the
Tavsan Project, to Galata Madencilik San. ve Tic. Ltd. ("Galata"), a
subsidiary of Ariana.

Completion of the transaction is subject to:

1. The requisite Turkish regulatory authorities recording Galata
as the registered owner of a 100% interest in the Licenses;

2. Conclusion of a complementary agreement between Galata and
TCAM;

3. TSX Venture Exchange approval;

4. The receipt by Ariana of requisite regulatory approval.

As consideration for the transfer of the Licences, Ariana has agreed
to pay Odyssey:

1. A non-refundable deposit of US$250,000 in cash on a
definitive agreement relating to the transfer of the Licences; and

2. A deferred payment of US$250,000 in cash, and the equivalent
of GBP 150,000 in ordinary shares in the capital of Ariana (the
"Shares") at an issue price of 5 pence per Share (collectively the
"Deferred Payment"). The Deferred Payment will be held in escrow
until the transfer of the Licences is accepted by the Turkish General
Directorate of Mining Affairs. The Shares will be subject to a 12
month hold period which will run from the date on which TSX Venture
Exchange approval is received for the transaction.

TCAM

In conjunction with the agreement with Odyssey, TCAM has agreed to
waive its earn-back rights with respect to the Tavsan Project and to
modify its Net Smelter Returns royalty, in exchange for six licences
held by Galata in the Canakkale area of northwest Turkey, so that:

1. Where the principal metal product is gold/silver, TCAM's
royalty entitlement from the Tavsan Project will be a 1% Net Smelter
Return on the first 100,000 ounces (gold equivalent) of production,
rising to 1.5% Net Smelter Return on the next 100,000 ounces (gold
equivalent) of production and a 2% Net Smelter Return on any
production thereafter; and

2. Where the principal metal product are metals or minerals
other than gold/silver, TCAM's royalty entitlement will be a 2% Net
Smelter Return.

Ariana Resources to buy Tavsan project from Odyssey Resources
AFX


LONDON (Thomson Financial) - Ariana Resources Plc. said it has agreed to buy the Tavsan project in Turkey, comprising 10 licences, from Odyssey Resources Ltd.

'The addition of the Tavsan Project to the company gives us total resources of about 270,000 ounces gold equivalent,' said managing director, Kerim Sener.

21 April 2008
AIM / PLUS Markets: AAU
�
�
JOINT VENTURE FINALISED WITH EUROPEAN GOLDFIELDS,
SUBSCRIPTION AND BOARD APPOINTMENT
�
Ariana Resources plc ("Ariana" or "the Company"), the gold
exploration and development company focused on Turkey, is pleased to
announce that it has signed definitive documentation governing a
Joint Venture ("JV") with European Goldfields Limited ("European
Goldfields") (TSX / AIM: EGU). �The JV will become effective when
transfer of Ariana's properties, currently in progress, is confirmed
by the General Directorate of Mining Affairs in Turkey. �The JV
involves the development of Ariana's properties in north-eastern
Turkey, which include the Ardala copper-gold porphyry and fifteen
other licences covering a total area of 229km2.�
�
Highlights
�

*�JV to explore and develop Ariana's current properties in the
Greater Pontides region of north-eastern Turkey ("the AOI").

�
*��������� Strategic Partnership within the AOI to define new
opportunities for the JV.
�

*�Right of first opportunity granted to European Goldfields outside
the AOI.

�

*�David Reading, CEO of European Goldfields, to join the Board of
Ariana as a non-executive director.

�

*�European Goldfields to subscribe for 20% of the issued share
capital of Ariana through a �900,000 private placement of shares.

�
Details of Joint Venture
�
The JV is focused on the Greater Pontides region of Turkey, a highly
prospective geological terrain containing several major deposits.�
�
The JV will focus initially on the Ardala copper-gold porphyry
project which has shown encouraging grades of copper and gold in
previous exploration.� It has a 600m x 700m surface exposure centred
on a magnetic high of 1,000m x 1,000m extent.� Copper-gold
mineralisation has also been identified on other properties in the
vicinity of Ardala within granitoids and in the surrounding country
rocks.�
�
European Goldfields will own 51% of the JV company into which Ariana
will transfer the relevant properties. European Goldfields is funding
all development costs of these initial properties and any future
properties located within the AOI until the delivery of the first
Definitive Feasibility Study ("DFS"), at which time European
Goldfields' interest in each relevant project will increase to 80% on
current licences in the JV or 90% on new areas generated by the JV.
�
A period of joint funding after DFS has been agreed, but if at any
time during this period Ariana is diluted to below 5% it will adopt a
1.5% Net Smelter Return ("NSR") on the project in question.� Any
project that falls short of a 0.5Moz Au (or equivalent) threshold,
will be assigned back to Ariana, in which case European Goldfields
will adopt a 1.5% NSR.�
�
Ariana has also granted European Goldfields a right of first
opportunity over projects located in Turkey but outside of the AOI,
on terms that will be independent of the JV agreement.� This right
will not apply within the WAVE Project Area in western Turkey, as
Ariana intends to develop projects within this area independently.�
�
Subject to completion of the JV arrangements, European Goldfields
will subscribe for new shares in Ariana at 5 pence per share in a
private placement for a total cash consideration of approximately
�900,000, resulting in European Goldfields owning 20% of Ariana.� As
part of this subscription, European Goldfields has agreed certain
rights to maintain its interest at the 20% level.�
�
In addition, David John Richard Reading, 52, Chief Executive Officer
of European Goldfields, will be appointed to the Board of Ariana as a
non-executive director, with effect on completion.� There are no
other matters under paragraph (g) of Schedule 2 of the AIM Rules for
Companies to be disclosed.
�
Dr. Kerim Sener, Managing Director, commented:
�
"The start of our Joint Venture and Strategic Partnership with
European Goldfields in Turkey marks a significant milestone in the
development of the Company.� The combination of our in-country
knowledge and skills, with the financial and technical strength of
European Goldfields, is a win-win.� As partners, Ariana and European
Goldfields are ideally matched as we share a common philosophy and
sense of purpose.
�
"We are delighted to welcome David Reading, CEO of European
Goldfields, to the board of Ariana as a non-executive director.� He
brings with him a new layer of operational expertise and corporate
skills that will be invaluable as Ariana develops its projects in
western Turkey.
�
"The acquisition of 20% of the Company by European Goldfields, at a
price premium to market, must be recognised as a sign of great
confidence. �With this funding secured, the next stages of our
progress at Kiziltepe and Tavsan will be marked by an increase in
tempo towards project development."
�
David Reading, Chief Executive Officer of European Goldfields,
commented:
�
"We are delighted to enter into partnership with Ariana and see this
as an exciting and relatively low risk entry into the highly
prospective geological terrains of Eastern Turkey.� Ariana's local
skill and knowledge and its proven track record within Turkey can
allow exploration work to start almost immediately on the current
licence portfolio including the promising Ardala target.� European's
entry into Turkey is part of our focused growth strategy of expanding
into the mineral belts of South East Europe."
�
�
�

smiler

http://www.plusmarketsgroup.com/details.shtml?ISIN=GB00B085SD50/GBP/PLUS-exn

Thanks Driver :) at last a blue one !!!

30 April 2008
AIM / PLUS Markets: AAU
�
�
REVISED JORC RESOURCE AT KIZILTEPE
�
Ariana Resources plc ("Ariana" or "the Company"), the gold
exploration and development company focused on Turkey, is pleased to
announce a revision of its resource estimate for the Company's
Kiziltepe gold prospect, at its flagship Sindirgi Project in
Balikesir Province, western Turkey.� The total resource has increased
by almost 20% with two thirds within the Measured Mineral Resource
category.
�
Highlights
�

*�SRK Consulting (UK) Ltd ("SRK") estimates a JORC compliant
mineral resource containing 118,000 oz Au and 2,080,000 oz Ag (~
160,000 oz Au equivalent)

�

*�Measured Mineral Resources comprise two-thirds of the total
resource

�

*�High-grade (7.3 g/t Au equivalent) resource defined on three
veins out of the eight tested to date

�

*�A further resource update on other drilled veins expected in June

�
Dr. Kerim Sener, Managing Director, commented:
�
"We are exceptionally pleased with this resource update for
Kiziltepe.� Not only has the total resource increased by a factor of
almost 20%, but our confidence in the resource estimate has also
increased dramatically.�
�
"We would particularly like to emphasise the significance of the high
level of resource conversion from our 2007 mineral resource estimate
and that the overall grade of the resource remains high:
approximately 7.3 g/t gold equivalent.� Due to our confidence in the
geological model, we expect that the existing Inferred Resources will
be upgraded to Indicated and Measured without too much additional
drilling.�
�
"We remain highly encouraged by the results of our work to date and
we expect that the resource at Kiziltepe can be expanded further.�
More drilling will be undertaken in 2008 to define additional
potential at the prospect with the aim of further increasing the
global resource at the Sindirgi Project.
�
"We look to establish a minimum mineable resource and to rapidly
progress the project towards production to take advantage of the
current gold price."
�
Resource Statement
�
SRK has completed a 3D geological model and mineral resource estimate
in compliance with the JORC code for certain gold-bearing quartz
veins at the Kiziltepe prospect.� Measured and Indicated Resources
contain 500,000 t at 6.2 g/t Au and 102 g/t Ag, and the Inferred
Mineral Resource comprises 180,000 t at 2.9 g/t Au and 76g/t Ag.�
�
SRK commented, "Ariana has completed over 7,360m of drilling and 250m
of channel sampling at Arzu South . and 1,438m of drilling and 96m of
channel sampling at Banu . and has ensured a high quality of sample
preparation and laboratory results, resulting in grade and density
data which can support a JORC compliant resource estimate."
�
Three mineralised structures have been incorporated into the resource
model, namely: Arzu South, Banu and Arzu North.� The majority of the
current resource is located within Arzu South, the central part of
which has been drilled and channel sampled with sufficient density to
support a Measured Mineral Resource.� Parts of the southern and
northern areas of Arzu South are in the Indicated Mineral Resource
category while Arzu North and Banu comprise the Inferred Mineral
Resource.� The figures for Arzu North remain unchanged from last year
as new drilling on this vein has not yet been incorporated in to the
resource model (data is pending).� It is expected that this vein and
potentially two other veins will form part of a further resource
update in June.�
�
SRK has placed a depth limit of approximately 125m to the model, as
most drill intersections are above this level and it is unlikely that
material below this level would be taken by an open pit.� A 2 g/t Au
cut-off grade, established as part of the mining options study being
undertaken by Wardrop Engineering, has been applied to the resource
blocks, which measure 25 x 25m x 10m.� The parts of the model that
are above the cut-off grade are generally continuous and, within
these, higher grade features appear to plunge steeply to the
southeast.�
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UK smallcap opening - Ariana Resources ticks up on revised resource estimate
AFX


LONDON (Thomson Financial) - Ariana Resources ticked up 1/2 to 5-1/2 pence as the gold explorer and developer revised its resource estimate for the Kiziltepe gold prospect, at its flagship Sindirgi Project in Balikesir Province, western Turkey.

The total resource has increased by almost 20 percent with two thirds within the Measured Mineral Resource category.