Mariana Resources: AngloGold Invests GBP4.5 Million For 19.9% Stake

South America-focused gold, silver and copper miner Mariana Resources Ltd. (MARL.LN) said Thursday that AngloGold Ashanti Ltd. (AU) has agreed to invest GBP4.5 million in the company for a 19.9% stake, enabling Mariana to further develop its Argentinian projects.

Mariana said the strategic investment will involve AngloGold subscribing to 45 million of Mariana's ordinary shares at 12 pence each, representing a 41% premium to Mariana's last closing price of 8.5 pence on Nov. 16.

Proceeds will facilitate advancement of the company's flagship Las Calandrias gold-silver project and at Sierra Blanca--70% owned--in the Santa Cruz province of Argentina.

Executive Chairman John Horsburgh said, "We view the transaction with AngloGold, one of the world's leading gold producers, as a major endorsement of Las Calandrias Project and its potential to develop into a top tier project with a significant mineral endowment."

"As a result of this arrangement, Mariana will now have access to AngloGold's technical expertise, representing a significant step up in the company's advancement of its Argentinean assets," he added.

Shares at 0825 GMT were up 1.5 pence, or 17.7%, at 10.0 pence in a slightly lower Alternative Investment Market--down 0.4%

-By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; [e-mail]