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| | July 22, 2010
DIRECTOR APPOINTMENT
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| | 22 July 2010
AIM / PLUS Markets: AAU
DIRECTOR APPOINTMENT
Ariana Resources plc ("Ariana" or "the Company"), the gold exploration and development company focused on Turkey, is pleased to announce the appointment of Mr. William Payne as a non-executive Director with immediate effect.
Dr. Kerim Sener, Managing Director, commented:
"We are delighted that William is able to join the board during this eventful period in the development of the Company. William was originally appointed as CFO of the Company in 2007 and has served in this capacity diligently. During this time, he has made significant contributions ranging from company strategy through to audit planning. In addition to attending regular board meetings in London as CFO, he has visited Turkey on several occasions to attend specific meetings in Sindirgi and Ankara. It is in recognition of this contribution that he now joins the board. I am sure William will continue to serve the Company admirably in his capacity as a director and it is a pleasure to welcome him to the board."
Details of Appointment
William James Benedict Payne is a partner of the chartered accountancy firm, Wilkins Kennedy, and acts for a diverse range of clients across various industry sectors. He provides audit and assurance advice to clients as well as assistance in planning, reporting and compliance. He is a member of the firm's property and construction sector and is also responsible for a number of outsourced accounts and administrative functions. Having obtained an accounting degree from Exeter University, Mr. Payne went on to train and qualify as a Chartered Accountant at KPMG in London. He was made partner in WH Payne & Co in 1991, prior to its merger with Wilkins Kennedy in 2003. In addition to being the partner in the firm responsible for the firm's ethics, Mr. Payne is also a director of a number of companies including AIM-listed Kibo Mining plc and PLUS-listed Sprue Aegis PLC.
Mr. William Payne (aged 45) has held the following directorships in companies or partnerships in the past five years:
Current Directorships / Partnerships: Former Directorship / Partnership:
Ferensway Limited WH Payne Financial Services Limited
Kibo Mining plc WH Payne Management Services Limited
Marlowe Investments (Kent) Limited
Merton Publishing Limited
Millard Estates Limited
Millard Properties Limited
Sprue Aegis PLC
Sprue Safety Products Limited
West Bridge Consulting Limited
Wilkins Kennedy Limited
Mr. Payne currently owns 350,000 Ordinary Shares in the Company, representing 0.157% of the Company's issued share capital. His services will be supplied by Wilkins Kennedy as part of their charges for accountancy services to the group overall.
There are no further details in relation to the above appointment which require disclosure under paragraph (g) (iii) to (viii) of Schedule 2 to the AIM Rules.
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
Jonathan Willis-Richards / 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.
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