CONVERSION OF WARRANTS
7 May 2010
AIM / PLUS Markets: AAU
CONVERSION OF WARRANTS
Ariana Resources plc ("Ariana" or "the Company"), the gold exploration and development company focused on Turkey, announces the issue, today, of 220,000 new Ordinary Shares of 1p per share ("Ordinary Shares") at a price of 3p per Ordinary Share as a result of the exercise of warrants issued following the Special Resolution passed at the Annual General Meeting ("AGM") on the 29th June 2009.
Application will be made to the London Stock Exchange for the new Ordinary Shares to be admitted to trading on AIM. It is anticipated that Admission will become effective and dealings will commence on or around 13 May 2010. The new Ordinary Shares will rank pari passu, in all respects, with the existing Ordinary Shares that are currently in issue and are traded on AIM. Following admission of these shares, and the placing shares as announced this morning, there will be a total of 221,634,101 Ordinary Shares in issue.
Contacts:
| Ariana Resources plc | Tel: 020 7407 3616 |
| Michael Spriggs, Chairman | |
| Kerim Sener, Managing Director | |
| Beaumont Cornish Limited | Tel: 020 7628 3396 |
| Roland Cornish | |
| Alexander David Securities Limited | Tel: 020 7448 9820 |
| Nick Bealer / David Scott | |
| Loeb Aron & Company Ltd | Tel: 020 7628 1128 |
| Peter Freeman / Frank Lucas |
Editors' note
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 exploring 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.
The Company's flagship assets are its Sindirgi and Tavsan gold projects. Both projects 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. The total resource inventory of the Company stands at 401,000 ounces of gold equivalent.
Loeb Aron & Company Ltd. and Alexander David Securities Limited are joint 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
