Issue of options
22 March 2011
AIM / PLUS Markets: AAU
ISSUE OF OPTIONS
The Board of Ariana Resources plc ("Ariana" or "the Company"), the gold exploration and development company focused on Turkey, is pleased to announce the issue of options at £0.05 each over the ordinary shares in the Company ("the Options") to Directors as set out below, and to key staff. The Options have a term of seven years and expire on 21 March 2018.
|
Directors |
Number of Options |
Total Exercise Value |
| Michael Spriggs | 1,500,000 |
£75,000 |
| Kerim Sener | 5,000,000 |
£250,000 |
| Michael de Villiers | 3,000,000 |
£150,000 |
| William Payne | 1,500,000 |
£75,000 |
In addition, the Board have issued a total of 1,500,000 Options to key staff, representing a total exercise value of £75,000.
Contacts:
Ariana Resources plc Tel: +44 (0) 20 7407 3616
Michael Spriggs, Chairman
Kerim Sener, Managing Director
Beaumont Cornish Limited Tel: +44 (0) 20 7628 3396
Roland Cornish/Felicity Geidt
Alexander David Securities Limited Tel: +44 (0) 20 7448 9820
David Scott
Loeb Aron & Company Ltd Tel: +44 (0) 20 7628 1128
Jonathan Willis-Richards / Frank Lucas
St Brides Media & Finance Ltd Tel: +44 (0) 20 7236 1177
Hugo de Salis
Susie Geliher
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 a Joint Venture with European Goldfields Limited in north-eastern Turkey. European Goldfields owns 51% of this joint venture and, as the operator, is fully funding all exploration work on the JV properties until delivery of a feasibility study.
The Company's flagship asset is the Red Rabbit project, which contains the Kiziltepe and Tavsan sectors. The project contains 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. The Kiziltepe and Tavsan sectors, 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 448,000 ounces of gold equivalent.
Ariana also has a strategic investment in Tigris Resources Limited (www.tigrisresources.com), a private Jersey-based exploration company, which is focused on the exploration of copper and gold deposits in southeastern Turkey. Ariana retains 15% of Tigris Resources Limited.
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
