JOINT VENTURE COMPANY ESTABLISHED

9 August 2010
AIM / PLUS Markets: AAU

JOINT VENTURE COMPANY ESTABLISHED

Ariana Resources plc ("Ariana" or "the Company"), the gold exploration and development company focused on Turkey, is pleased to announce the establishment of the Joint Venture Company, Zenit Madencilik San. ve Tic. A.S., which will manage the interests of the joint venture between Proccea Construction Co. and the Turkish subsidiary of Ariana, in the Red Rabbit Joint Venture.  

Dr. Kerim Sener, Managing Director, commented:

"This development takes us another step closer to gold production from our Red Rabbit project.  With this formality completed, the way is now clear for us to proceed with our Feasibility Study and Environmental Impact Assessment of the project.  The establishment of Zenit Madencilik has been completed, following the recent publication of the Memorandum and Articles of Association of the company in the Turkish Trade Gazette.  We will now proceed with the transfer of our mining licences from our Turkish subsidiary to Zenit Madencilik.  "

Contacts:

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 and now form part of a Joint Venture with Proccea Construction Co.  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.

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