TIDMMARL 
 
 
 
 
AIM: MARL 
 TSX-V: MARL      Suite 102, 3 Eden Street 
 23 March 2017      North Sydney, NSW 2060 
                                 Australia 
 
 
   Additional High Grade Gold-Copper Mineralisation Reported from Infill 
and Extension Drilling at the Hot Maden Project, NE Turkey. 
 
   Mariana Resources Limited ('Mariana' or 'the Company'), the TSX.V and 
AIM (MARL) listed exploration and development company with projects in 
Turkey, South America, and Côte d'Ivoire, is pleased to provide the 
following update on the ongoing diamond drill program at the high grade 
Hot Maden gold-copper project in north east Turkey. 
 
   Results are reported for a total of 19 new drill holes (HTD-88 to 
HTD-106), all of which were completed around the Main Zone resource area 
and the "Ridge Area" (the transitional zone between the Main Zone and 
new Southern Deposit; Figures 1 & 2). Two of the reported drill holes 
(HTD-90 and HTD-106) form part of the 25m x 25m infill drill program 
underway in the Main Zone resource area, with the remainder being 
step-out holes designed to extend known high grade gold-copper 
mineralisation. 
 
   Highlights: 
 
 
   -- Two drill rigs currently remain active at Hot Maden, with a third rig 
      having arrived on site. 
 
   -- High grade gold-copper (Au-Cu) mineralisation continues to be intersected 
      in both infill and step-out drilling on Main Zone sections 4,542,175N and 
      4,542,225N. Best results include: 
 
   Main Zone - Section 4,542,225N 
 
   HTD-90:                79.0m @ 8.1 g/t Au + 1.90% Cu from 248m downhole. 
 
   (Infill)                    Including 34m @ 15.2 g/t Au + 1.60% Cu from 
256m downhole. 
 
   (approximate true width of Au-Cu zone is 55m) 
 
   HTD-88:                74m @ 3.0 g/t Au + 1.57% Cu from 326m downhole. 
 
   (Step back           Including 28m @ 6.3 g/t Au + 1.88% Cu from 326m 
downhole. 
 
   to HTD-75)          and 29m @ 0.3 g/t Au + 1.31% Cu from 422m downhole. 
 
   (approximate true width of total Au-Cu zone is 60m) 
 
   Main Zone - Section 4,542,175N 
 
   HTD-106:             116.5m @ 6.7 g/t Au + 1.70% Cu from 244.5m 
downhole. 
 
   (Infill)                    Including 16m @ 35.7 g/t Au + 2.90% Cu from 
249m downhole. 
 
   (approximate true width of Au-Cu zone is 70m) 
 
   HTD-101:             33m @ 4.1 g/t Au + 1.24% Cu from 393m downhole. 
 
   (Step back           Including 9m @ 13.3 g/t Au + 1.8% Cu from 410m 
downhole. 
 
   to HTD-78)          (approximate true width of Au-Cu zone is 25m) 
 
 
   -- Discovery drilling under the "Ridge Area" (the transitional zone between 
      the Main Zone resource area and the new Southern Deposit) continues to 
      return excellent results, with drill holes HTD-92 and HTD-100 both 
      intersecting significant intervals of high grade gold(-copper) 
      mineralisation. Host rocks to the Au-Cu mineralization in the Ridge Area 
      are dominantly dacitic breccias with minor andesites / andesitic 
      volcaniclastics.  Key results include: 
 
   HTD-92:                29.0m @ 6.8 g/t Au + 0.49% Cu from 151m downhole. 
 
   (Step forward to HTD-80)  (approximate true width of Au-Cu zone is 24m) 
 
   HTD-100:             32.8m @ 15.5 g/t Au + 1.07% Cu from 311.8m 
downhole. 
 
   (Step back           Including 2m @ 85.3 g/t Au + 0.54% Cu from 321m 
downhole. 
 
   to HTD-33)          (approximate true width of Au-Cu zone is 26m) 
 
 
   -- High grade Au-Cu assays associated with vein / breccia zones continue to 
      be returned from other scout holes in the "Ridge Area".  Highlights 
      include HTD-93 (2m @ 41.8 g/t Au + 2.47% Cu from 329m downhole; 1m @ 21.7 
      g/t Au + 0.57% Cu from 339m downhole; and 1m @ 19.2 g/t Au + 3.20% Cu 
      from 350m downhole) and HTD-102 (2m @ 49.9 g/t Au + 0.14% Cu from 260m 
      downhole). 
 
   -- Including the Ridge Area discovery, multi-phase gold-copper 
      mineralisation has now been drilled over a strike length of 700m at Hot 
      Maden. 
 
   -- No drilling has yet been undertaken in the southernmost "Russian Mine 
      Zone", which is located about 1.5 km south of the Main Zone Resource and 
      where high grade copper-gold mineralisation was extracted prior to 1923 
      by Russian mining interests. Initial drilling of this prospective zone is 
      now expected to be undertaken during Q2, 2017 with the 3rd rig having 
      arrived on site. 
 
   -- The Company's cash position as at 1 March 2017 was -US$4.75M 
 
 
   Links to Figures: 
http://media.wix.com/ugd/24ee23_652e9ab3db884dcdb6a0a2767aa6be75.pdf 
 
   Chief Executive Officer, Glen Parsons, today commented: 
 
   "The focus for Mariana and the Joint Venture over the last two months 
has been to develop greater confidence in the resource area at Hot Maden 
for the purposes of completing the Preliminary Feasibility Study ( 
"PFS"). 
 
   "Both infill and step-out drilling has occurred around the Main Zone 
resource area, as may be observed in the drill plan in Figure 2. 
Results continue to impress and increase our confidence in the high 
grade mineralisation and continuity thereof.  Furthermore, drilling for 
extensions towards the New Southern Discovery zone has yielded 
particularly encouraging results with nice intercepts of high grade 
Au-Cu complementing the existing mineral resource.  If one compares the 
mineralisation footprint on the drill plan to that of late last year we 
can see the growth and continuity that has been achieved in drill holes 
HTD 63 to 106, with a mineralised strike length of now 700m, and which 
we are confident will translate into an increased mineral resource for 
this developing new zone." 
 
   "Drilling is continuing with one rig around the Main Zone for the 
completion of PFS-related studies. Meanwhile, the second drill rig is 
focused on the New Southern Zone extensions and the  third rig which has 
now arrived will be deployed over various targets, including the 
undrilled Russian Mine Zone." 
 
   "Mariana has the ability to comfortably fund its operations well into 
the first half of 2018 with its existing cash reserves of US$4.75M; and 
expected exercise of "in the money" warrants which would deliver US$1.3M 
next month ; and further expected exercise of its remaining warrants 
which would provide an additional US$5.0M over the balance of 2017 and 
early into 2018." 
 
   "Mariana continues to be well positioned to take advantage of 
exploration successes in its portfolio and we look forward to updating 
the market accordingly." 
 
   Hot Maden Gold-Copper Project Update 
 
   Approximately 34,000 m of diamond drilling have now been completed by 
the Mariana-Lidya JV at Hot Maden since November, 2014 (Figures 1 and 
2).  Recent drilling activities have dominantly focused on: - 
 
 
   -- Main Zone: Two infill drill holes were completed on sections 4,542,175N 
      and 4,542,225N, with step-out drilling also being completed around the 
      margins of the current Main Zone resource area. Selected holes utilised 
      for geotechnical studies and metallurgical testwork. 
 
 
   -- Deeper step-out drilling continued in the "Ridge Area", which lies in the 
      transitional zone between the Main Zone and new Southern Deposit. 
 
 
   No significant work has yet been undertaken in the area of the former 
Russian mines (Figure 1). 
 
   Main Zone Resource Area 
 
   The planned 25m infill drill program in the Main Zone resource area 
advanced with a further two holes (HTD-90 and HTD-106) being completed 
on sections 4,542,225N and 4,542,175N, respectively. To date, this 
program has been highly successful in confirming the internal continuity 
of the high-grade gold-copper mineralisation within the Main Zone. In 
addition, step-out drilling was also advanced along the margins of the 
Main Zone resource area. 
 
   On cross-section 4,542,225N (Figures 3a and 3b), infill drill hole 
HTD-90 returned 79m @ 8.1 g/t Au + 1.90% Cu from 248m downhole in a 
multiphase, chalcopyrite-pyrite-hematite-jasper-bearing breccia. A 
further two step-back holes on this same section (including HTD-88: 74m 
@ 3 g/t Au + 1.57% Cu from 326m downhole and 29m @ 0.3 g/t Au + 1.31% 
Cu) succeeded in extending the down dip extension of the Au-Cu 
mineralised zone.  However, Au-Cu grades decrease significantly at a 
vertical depth of 350m from surface (500m RL) as late-stage anhydrite 
floods the mineralised multiphase breccia.  The source of this 
late-stage anhydrite is currently not clear; deeper drilling will be 
required to establish what happens to the mineralized breccia below the 
500m RL level. 
 
   Infill drill hole HTD-106 (cross-section 4,542,175N) successfully 
intersected 116.5m @ 6.7 g/t Au + 1.70% Cu from 244.5m downhole, and 
confirmed the continuity of high grade Au-Cu mineralisation within the 
core of the Main Zone resource.  This drill hole also intersected the 
"Ultra High Grade" mineral domain (16m @ 35.7 g/t Au + 2.90% Cu from 
249m downhole) that typically lies on the eastern margin of the 
multiphase breccia system. 
 
   New drilling on cross-section 4,542,125N (Figure 4) included holes 
HTD-89 and HTD-91. Drill hole HTD-89 (37.6m @ 1.9 g/t Au + 1.34% Cu from 
304.4m downhole and 32m @ 1.2 g/t Au + 1.67% Cu from 349m downhole) is 
the step-back hole to HTD-82 and has confirmed a down-dip extension to 
the main Au-Cu mineralised zone. However, as is the case in adjacent 
sections, the tenor of the Au-Cu mineralisation is diminished due to the 
presence of late-stage anhydrite at these depths. Hole HTD-91 appears to 
lie close to a (fault?) contact which juxtaposes well-mineralised 
andesites and andesitic breccias to the E with poorly-mineralised 
dacites to the west. 
 
   "Ridge Area" 
 
   High grade Au-Cu mineralisation continues to be intersected in scout 
drilling in the Ridge Area. Best results include HTD-92 (29.0m @ 6.8 g/t 
Au + 0.49% Cu from 151m downhole; Section 5,452,200N - Figure 5) and 
HTD-100 (32.8m @ 15.5 g/t Au + 1.07% Cu from 311.8m downhole; Section 
4,542,75N). In addition, high grade vein / breccia zones were also 

intersected in HTD-93 (e.g. 2m @ 41.8 g/t Au + 2.47% Cu) and HTD-102 (2m 
@ 49.9 g/t Au + 0.14% Cu). 
 
   Gold-copper mineralization in the "Ridge Area" is mostly hosted by 
dacites, with the mineralisation tending to occur in discreet, 
sub-parallel and sub-vertical vein / breccia zones. These features may 
suggest that these dacitic units acted as more rigid blocks in the 
deformation history of the Hot Maden Fault Zone (as compared to the 
andesite hosted Main Zone to the North); further structural 
interpretation will be required in order to connect the main mineralized 
trends. 
 
   Table 1: Summary of assays for drill holes HTD-88 to HTD-106 (see also 
Figures 1 to 5 for drill hole locations and key cross sections). 
 
 
 
 
                From    To    Intercept 
  Drill Hole     (m)    (m)      (m)     Au g/t  Cu %  Zn %      Comments 
 
    HTD-88 
 (Line 2225N)   119.0  161.0       42.0       -     -  0.98          Zinc Zone 
                232.0  242.0       10.0       -     -  2.35 
                274.0  278.0        4.0       -     -  7.32 
                326.0  400.0       74.0     3.0  1.57     -    Main Au-Cu Zone 
  Including     326.0  354.0       28.0     6.3  1.88     - 
                422.0  451.0       29.0     0.3  1.31     - 
 
    HTD-89 
 (Line 2125N)   233.7  238.4        4.7     0.5  0.55  2.53          Zinc Zone 
                248.0  252.0        4.0     0.3     -  1.96 
                304.4  342.0       37.6     1.9  1.34     -    Main Au-Cu Zone 
  Including     311.0  313.0        2.0    16.7  4.72     - 
                349.0  381.0       32.0     1.2  1.67     - 
 
    HTD-90 
 (Line 2225N)    77.0   85.0        8.5     0.2     -  1.51          Zinc Zone 
                134.0  154.0       20.0     0.2     -  2.12 
                164.0  198.0       34.0     0.2     -  3.94 
                248.0  327.0       79.0     8.1  1.90     -    Main Au-Cu Zone 
  Including     256.0  290.0       34.0    15.2  1.60     - 
 
    HTD-91                                                          Ridge Area 
 (Line 2125N)   175.6  180.0        4.4     0.9  1.82     -           (Dacite) 
                215.6  226.1       10.5     1.8  1.73     - 
 
    HTD-92                                                          Ridge Area 
 (Line 2000N)    33.0   34.0        1.0     6.1  0.92     -           (Dacite) 
                138.0  139.0        1.0     5.4  0.17     - 
                151.0  180.0       29.0     6.8  0.49     - 
 
    HTD-93                                                          Ridge Area 
 (Line 2000N)   293.0  295.0        2.0       -  4.25     -           (Dacite) 
                329.0  331.0        2.0    41.8  2.47     - 
                339.0  340.0        1.0    21.7  0.57     - 
                350.0  351.0        1.0    19.2  3.20     - 
                353.0  354.0        1.0     6.8  0.26     - 
                357.0  359.0        2.0     7.3  0.72     - 
                390.0  391.0        1.0     6.3  0.17 
                438.0  443.5        5.5     1.0  2.78 
 
    HTD-94      140.0  153.0       13.0     0.6  0.26     -            QV Zone 
 (Line 2000N)   169.0  196.0       27.0       -     -  2.29          Zinc Zone 
 
    HTD-95                                                          Ridge Area 
 (Line 1950N)    32.0   33.0        1.0     7.8  5.48     -           (Dacite) 
                202.0  203.0        1.0     4.7  0.48     - 
                210.0  211.0        1.0     7.5  0.47     - 
                235.0  236.0        1.0    13.2  0.06     - 
 
    HTD-96                                                          Ridge Area 
 (Line 1950N)    26.5   30.0        3.5     1.3  0.44     -           (Dacite) 
 
    HTD-97                                                      Ridge Area Qtz 
 (Line 2050N)   251.0  254.0        3.0       -  2.86     -              Veins 
                417.4  421.0        3.6     0.9  3.81     - 
                423.0  424.0        1.0     4.4  0.20     - 
                512.0  515.0        3.0     3.4  0.11     - 
 
    HTD-98                                                          Ridge Area 
 (Line 2275N)   154.0  159.0        5.0       -  1.85     -           (Dacite) 
                169.0  177.0        8.0    0.64  0.19     - 
 
    HTD-99       81.0   85.0        4.0     1.1  0.19  0.28         Au-Zn Zone 
 (Line 2250)    107.9  119.2       11.3     0.2  1.02  0.22 
                125.0  131.5        6.5     0.2  1.00     - 
                140.0  142.5        2.5     0.2  1.08  0.05 
                193.0  211.0       18.0     0.8     -  0.15 
                                                               Main Au Cu Zone 
                                                                     (Northern 
                237.5  242.0        4.5     0.3  3.14     -            Margin) 
                302.0  317.0       15.0     1.6  0.78     - 
                333.0  358.0       25.0     0.6  0.78     - 
                362.0  367.0        5.0     0.9  3.49     - 
                388.0  400.0       12.0     0.9  1.60     - 
                410.0  414.0        4.0     3.4  2.22     - 
 
   HTD-100                                                    Ridge Area Au-Cu 
 (Line 2075N)   298.0  300.5        2.5     1.2  4.28     -               Zone 
                311.8  344.6       32.8    15.5  1.07     - 
  Including     321.0  323.0        2.0    85.3  0.54     - 
                426.0  445.0       19.0       -     -  1.80          Zinc Zone 
 
   HTD-101 
 (Line 2175N)    53.0   60.0        7.0       -     -  1.57          Zinc Zone 
                205.0  210.0        5.0       -  1.24     - 
                275.0  296.0       21.0       -     -  1.39 
                393.0  426.0       33.0     4.1  1.24     -    Main Au-Cu Zone 
  Including     410.0  419.0        9.0    13.3  1.80     - 
 
   HTD-102                                                      Ridge Area Qtz 
 (Line 2075N)   250.2  251.2        1.0     3.4  5.23     -              Veins 
                260.0  262.0        2.0    49.9  0.14     - 
 
   HTD-103                                                    Ridge Area Au-Cu 
 (Line 2075N)   230.0  235.0        5.0       -  1.30     -               Zone 
                301.0  304.5        3.5       -  0.72     - 
                329.2  372.0       42.8     1.9  1.37     - 
  Including     329.2  333.0        3.8    12.8  5.72     - 
                389.0  390.1        1.1     0.5  4.81     - 
                391.0  418.0       27.0     0.3  0.64     - 
 
   HTD-104                                                    Main Au-Cu Zone, 
 (Line 2225N)   424.3  439.0       14.7     0.5     -     -          Anhydrite 
                448.0  466.0       18.0     0.3  1.58     - 
 
   HTD-105 
 (Line 2300N)    35.0   48.2       13.2       -     -  2.10         Au-Zn Zone 
                109.0  117.0        8.0     0.4  0.65  2.86 
                125.0  129.0        4.0     0.3  0.87  4.75 
 
   HTD-106 
 (Line 2175N)   244.5  361.0      116.5     6.7  1.70     -    Main Au-Cu Zone 
 
  Including     249.0  265.0       16.0    35.7  2.90     - 
 
 
 
   Quality Control and Assurance 
 
   Mineralised intervals presented in Table 1 are drill intersection widths 
and may not represent true widths of mineralisation. Drill core obtained 
from the diamond drill program was dominantly HQ-sized core with the 
remainder being PQ-sized core. All drill core was photographed and quick 
logged prior to sampling. Standard sampling protocol involved the 
halving of all drill core and sampling over generally 1 m intervals (in 
clearly mineralised sections) or 2 m intervals (elsewhere), with one 
half of the core being placed in a sealed sample bag and dispatched to 
the analytical laboratory for analysis. Samples have been analysed at 
ALS Laboratories' facility in Izmir, western Turkey. All samples have 
been analysed for gold using a 30g Fire Assay with AAS finish (or Screen 
Fire Assay for higher grade samples), in addition to a 32 element 
ICP-AES analysis of an aqua regia digest.  Samples in which ICP analyses 
returned greater than the maximum detection limit for the elements Ag 
(10 ppm), Cu (10,000 ppm), Fe (15%), Pb (10,000 ppm), and Zn (10,000 
ppm) were reanalysed using the AAS analytical technique, Standards and 
blanks were inserted in to the analytical sequence on the basis of one 
standard for every 20 samples, 2 blanks in every batch, and one 
duplicate every 40 samples. 
 
   Health, Safety, and Environment (HSE) 
 
   No HSE incidents have been reported during the current diamond drill 
program. 
 
   Hot Maden drill holes - technical data 
 
   Technical data relating to Hot Maden diamond drill holes HTD-88 to 
HTD-107 are given in the following table. 
 
 
 
 
                                  Elevation              Dip        Depth 
Hole ID    Easting    Northing       (m)     Azimuth   (degrees)      (m)      Assays 
 HTD-88   740,789.1  4,542,217.7      876.3      272         -74         468  Complete 
 HTD-89   740,813.9  4,542,115.6      869.7      273         -62         447  Complete 
 HTD-90   740,787.7  4,542,217.5      876.4      270         -63         385  Complete 
 HTD-91   740,765.9  4,542,126.0      865.9      270         -48         273  Complete 
 HTD-92   740,495.4  4,542,002.1      922.7      090         -60         264  Complete 
 HTD-93   740,404.7  4,542,002.2      875.9      090         -60         468  Complete 
 HTD-94   740,496.3  4,542,003.1      922.6      090         -45         231  Complete 
 HTD-95   740,444.5  4,541,952.3      913.4      090         -60         330  Complete 
 HTD-96   740,483.6  4,541,948.0      935.6      090         -60         270  Complete 
 HTD-97   740,415.6  4,542,049.2      877.2      085         -65         525  Complete 
 HTD-98   740,527.9  4,542,283.3      877.8      082         -65         345  Complete 
 HTD-99   740,522.4  4,542,255.1      869.3      090         -65         429  Complete 
HTD-100   740,455.9  4,542,078.7      910.7      090         -60         460  Complete 

HTD-101   740,787.4  4,542,175.3      874.0      270         -75         516  Complete 
HTD-102   740,456.6  4,542,081.1      911.2      090         -51         285  Complete 
HTD-103   740,456.1  4,542,081.1      911.1      090         -63         489  Complete 
HTD-104   740,789.6  4,542,215.2      876.4      272         -79         483  Complete 
HTD-105   740,583.3  4,542,297.3      878.7      090         -40         228  Complete 
HTD-106   740,787.4  4,542,174.9      873.8      270         -61         491  Complete 
HTD-107   740,619.0  4,542,325.9      885.0      090         -64         300   Pending 
 
   Mariana Resources Limited 
 
   "Glen Parsons" 
 
   Glen Parsons, CEO 
 
   **S** 
 
   Qualified Person 
 
 
   The technical and scientific information contained in this news release 
has been reviewed and approved for release by Eric Roth, the Company's 
Qualified Person as defined by National Instrument 43-101. Mr Roth is 
the Company's Chief Operating Officer and Executive Director and holds a 
Ph.D. in Economic Geology from the University of Western Australia, is a 
Fellow of the Australian Institute of Mining and Metallurgy (AusIMM), 
and is a Fellow of the Society of Economic Geologists (SEG).  Mr Roth 
has 25 years of experience in international minerals exploration and 
mining project evaluation. 
 
 
 
 
 
Glen Parsons (CEO)   Mariana Resources Ltd               +61 2 9437 4588 
Eric Roth (COO)      Mariana Resources Ltd               +56 9 8818 1243 
Karen Davies (IR)    Mariana Resources Ltd (Canada)      +1 604 314 6270 
Rob Adamson          RFC Ambrian Limited (Nomad)         +61 2 9250 0041 
Will Souter          RFC Ambrian Limited (Nomad)         +61 2 9250 0050 
In U.K. 
Oliver Stansfield    Brandon Hill Capital (UK Broker)   +44 20 3463 5061 
Jonathan Evans       Brandon Hill Capital (UK Broker)   +44 20 3463 5016 
Camilla Horsfall     Blytheweigh (Financial PR)         +44 20 7138 3224 
Megan Ray            Blytheweigh (Financial PR)         +44 20 7138 3203 
 
   About Mariana Resources 
 
   Mariana Resources Ltd is a TSX.V and AIM (MARL) quoted exploration and 
development company with an extensive portfolio of gold, silver, and 
copper projects in South America, Turkey, and Ivory Coast. 
 
   Mariana's most advanced asset is the Hot Maden gold-copper project in 
northeast Turkey, which is a joint venture with Turkish partner Lidya 
Madencilik (30% Mariana and 70% Lidya) and which is rapidly advancing to 
development.  On January 17, 2017, Mariana released the results of a 
Preliminary Economic Study ("PEA") which demonstrated exceptional 
potential economics for the Hot Maden Project (after-tax NPV and IRR of 
USD 1.37B and 153%, respectively) based on a development scenario 
incorporating a 1Mtpa underground mining / processing operation and the 
production of two saleable concentrates (a copper-gold concentrate and a 
gold-pyrite concentrate). This PEA was based on the updated (July 25, 
2016) mineral resource estimate of 3.43 Moz gold equivalent (Indicated 
Category) and 0.09 Moz gold equivalent (Inferred Category) (100% basis) 
in the Main Zone, as well as a maiden 351,000 Moz gold equivalent 
(Inferred Category) (100% basis) resource in the New Southern Discovery. 
Elsewhere in Turkey, Mariana holds a 100% interest in the Ergama project 
where first drilling was reported on February 14, 2017, to have 
intersected porphyry-style gold-copper mineralisation. 
 
   On October 7, 2016, Mariana announced the signing of a binding Term 
Sheet to acquire an indirect 80% interest in Ivory Coast-focused private 
exploration company Awalé Resources SARL ("Awalé").  Through 
the transaction Mariana will gain an immediate foothold in an 
established exploration portfolio with known gold mineralisation and 
artisanal gold workings, and which comprises i) 3 granted contiguous 
licenses (1,191 km(2) ) in the Bondoukou area, and ii) 4 licenses under 
application (1,593 km(2) ) in both the Bondoukou and Abengourou areas. 
The Boundoukou concessions lie along the southwestern extension of the 
Birimian Bole-Nangodi greenstone belt in adjacent Ghana, host to a 
number of high grade orogenic gold deposits. 
 
   In southern Argentina, the Company's core gold-silver projects are Las 
Calandrias (100%), Sierra Blanca (100%), Los Cisnes (100%), and Bozal 
(100%). These projects are part of a 100,000+ Ha land package in the 
Deseado Massif epithermal gold-silver district in mining-friendly Santa 
Cruz Province. 
 
   In Suriname, Mariana has a direct holding of 10.2% of the Nassau Gold 
project. The Nassau Gold Project is a 28,000 Ha exploration concession 
located approximately 125 km south east of the capital Paramaribo and 
immediately adjacent to Newmont Mining's 4.2Moz gold Merian project. 
 
   In Peru and Chile, Mariana is focusing on acquiring new opportunities 
which complement its current portfolio. 
 
 
 
 
            Hot Maden Mineral Resource Estimate - Main Gold-Copper 
                           Zone (2 g/t AuEq Cut-off) 
                                Indicated Mineral Resource 
   Domain      Tonnes     Au   Cu    Zn   AuEq     Au        Cu       AuEq 
                  t      g/t    %    %    g/t*   Ounces    Tonnes   Ounces** 
Main Zone LG   463,000    1.1  1.1   0.3   2.4     17,000    5,000     36,000 
Main Zone HG  4,501,000   3.9  1.9   0.2   6.3    570,000   87,000    908,000 
 Main Zone 
     UHG      2,086,000  32.7  3.5   0.1  36.9  2,195,000   73,000  2,476,000 
   Mixed 
  Gold-Zinc    17,000     7.5  3.1   3.6  11.2      4,000    1,000      6,000 
 Peripheral 
    Lodes      60,000     2.1  0.4   0.4   2.5      4,000               5,000 
   Total      7,127,000  12.2  2.3   0.2  15.0  2,790,000  166,000  3,431,000 
                                 Inferred Mineral Resource 
   Domain      Tonnes      Au   Cu    Zn  AuEq         Au       Cu       AuEq 
                  t       g/t    %%       g/t*     Ounces   Tonnes   Ounces** 
Main Zone LG   395,000    1.7  0.9  0.03   2.8     21,000    4,000     35,000 
Main Zone HG   31,000     3.9  1.6   0.1   5.8      4,000               6,000 
 Main Zone 
     UHG        6,000    39.1  2.1  0.01  41.6      7,000               8,000 
   Mixed 
  Gold-Zinc     4,000     1.7  0.4   2.4   2.2 
 Peripheral 
    Lodes      282,000    3.2  0.9   0.1   4.3     29,000    2,000     38,000 
   Total       718,000    2.7  0.9   0.1   3.8     62,000    7,000     88,000 
 
               Hot Maden - Southern Gold-Copper Zone (2 g/t AuEq 
                                    Cut-off) 
                                 Inferred Mineral Resource 
   Domain      Tonnes      Au   Cu    Zn  AuEq         Au       Cu       AuEq 
                  t       g/t    %%       g/t*     Ounces   Tonnes   Ounces** 
 South Zone 
     LG        396,000    2.8  0.7   0.0   3.6     35,000    3,000     46,000 
 South Zone 
     HG        583,000    5.3  0.7   0.0   6.1     98,000    4,000    114,000 
 Main Zone 
     UHG       224,000   22.2  1.0   0.0  23.4    160,000    2,000    169,000 
   Mixed 
  Gold-Zinc    44,000     9.0  1.0   3.2  10.2     13,000              15,000 
 Peripheral 
    Lodes      104,000    1.9  0.3   0.0   2.2      6,000               7,000 
   Total      1,352,000   7.2  0.7   0.1   8.1    313,000   10,000    351,000 
 
 
   *Au Equivalence (AuEq) calculated using a 100 day moving average of 
$US1,215/ounce for Au and $US2.13/pound for Cu as of May 29, 2016. No 
adjustment has been made for metallurgical recovery or net smelter 
return as these remain uncertain at this time. Based on grades and 
contained metal for Au and Cu, it is assumed that both commodities have 
reasonable potential to be economically extractable. 
 
 
   1. *-The formula used for Au equivalent grade is: AuEq g/t = Au + [(Cu % x 
      22.0462 x 2.13)/(1215/31.1035)] and assumes 100 % metallurgical recovery. 
 
   2. **-Au equivalent ounces are calculated by mulitplying Mineral Resource 
      tonnage by Au equivalent grade and converting for ounces. The formula 
      used for Au equivalent ounces is: AuEq Oz = [Tonnage x AuEq grade 
      (g/t)]/31.1035 
 
   Safe Harbour 
 
   This press release contains certain statements which may be deemed to be 
forward-looking statements.  These forward-looking statements are made 
as at the date of this press release and include, without limitation, 
statements regarding discussions of future plans, the realization, cost, 
timing and extent of mineral resource estimates, estimated future 
exploration expenditures, costs and timing of the development of new 
deposits, success of exploration activities, permitting time lines, and 
requirements for additional capital.  The words "plans", "expects", 
"budget", "scheduled", "estimate", "forecasts", "intend", "anticipate", 
"believe", "may", "will", or similar expressions or variations of such 
words are intended to identify forward-looking statements. 
Forward-looking statements are subject to known and unknown risks, 
uncertainties, assumptions and other factors that may cause actual 
results to vary materially from those expressed or implied by such 
forward-looking statements, including, but not limited to: the effects 
of general economic conditions; the price of gold, silver and copper; 
misjudgements in the course of preparing forward-looking statements; 
risks associated with international operations; the need for additional 
financing; risks inherent in exploration results; conclusions of 
economic evaluations; changes in project parameters; currency and 
commodity price fluctuations; title matters; environmental liability 
claims; unanticipated operational risks; accidents, labour disputes and 
other risks of the mining industry; delays in obtaining governmental 
approvals or in the completion of development or construction 
activities; political risk; and other risks and uncertainties described 
in the Company's annual financial statements for the most recently 
completed financial year which is available on the Company's website at 
www.marianaresources.com .  Although we believe that the expectations 

reflected in such forward-looking statements are based upon reasonable 
assumptions and have attempted to identify important factors that could 
cause actual results to differ materially from those contained in 
forward-looking statements, there may be other factors that cause 
results not to be as anticipated, estimated or intended.  There can be 
no assurance that such statements will prove to be accurate, as actual 
results and future events could differ materially from those anticipated 
in such forward-looking statements.  Accordingly, readers are cautioned 
not to place undue reliance on forward-looking statements.  We do not 
undertake to update any forward-looking statements, except in accordance 
with applicable securities laws. 
 
   Neither the TSX Venture Exchange nor its Regulation Services Provider 
(as that term is defined in the policies of the TSX Venture Exchange) 
accepts responsibility for the adequacy or accuracy of this release. 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Mariana Resources Ltd via Globenewswire 
 
 
  http://www.marianaresources.com/index.php 
 

(END) Dow Jones Newswires

March 23, 2017 03:00 ET (07:00 GMT)