Ariana Resources PLC Ariana Resources Plc : Directorate Change

 
TIDMAAU 
 
   24 August 2016 
 
   AIM: AAU 
 
   BOARD APPOINTMENT 
 
   Ariana Resources plc ("Ariana" or "the Company"), is pleased to announce 
the appointment of Mr. Christopher Sangster to the Board as a 
Non-Executive Director with immediate effect. 
 
   Mr Sangster is a mining engineer with over 35 years experience in the 
mining industry.  He has a BSc (Hons) in Mining Engineering from the 
Royal School of Mines, Imperial College in London, and a GDE in Mineral 
Economics from the University of Witwatersrand and is a Fellow of the 
Institute of Materials Minerals and Mining. His career covers extensive 
production and technical experience at senior levels in both junior and 
multi-national companies in gold, diamonds and base metals in Africa, UK 
and Canada and covers a wide range of mining applications.  Between 1996 
and 1999 Mr Sangster was General Manager for Caledonia Mining 
Corporation for the Cononish Gold Project and a Director of Fynegold 
Exploration, where he was responsible for all aspects of the project 
including feasibility study preparation, project due diligence, finance 
negotiations, exploration initiatives and planning permission 
applications.  After 1999, Mr. Sangster moved to the Zambian Copper Belt 
with Anglo American plc / KCM plc where he attained the position of Vice 
President Mining Services and in 2005 joined Australian Mining 
Consultants as a Principal Mining Engineer.  In 2007, Chris co-founded 
ASX and AIM listed Scotgold Resources and was its Managing Director 
until October 2014. He remains a non-Executive Director and Technical 
Consultant to Scotgold and is also an Associate Consultant for Bara 
Consulting Ltd. 
 
   Dr. Kerim Sener, Managing Director, commented: 
 
   "We are very pleased to welcome Chris to the Board of Ariana, joining us 
at a pivotal moment in our development, particularly as we advance the 
Kiziltepe Mine in to production.  We have worked with Chris during the 
past year on a consulting basis, and are now looking forward to the 
Company benefitting from his Board-level input to our future plans. 
Chris is an exceptionally well-qualified and practical mining engineer 
with significant senior management and board-level experience.  His 
experience and insight will be invaluable in the next stage of the 
development of the Company and as we continue to prove up our other 
projects in Turkey and beyond." 
 
   Christopher John Stuart Sangster (aged 58) has the following current 
directorships: 
 
   Scotgold Resources (SGZ) 
 
   Scotgold Resources Limited 
 
   Fynegold Exploration Limited 
 
   SGZ France SAS 
 
   There is no further information to be disclosed under Schedule Two, (g) 
(i)-(viii) of the AIM Rules. 
 
   Mr Sangster currently holds 695,652 ordinary shares in the Company, 
representing a holding of 0.08%. 
 
   Contacts: 
 
 
 
 
Ariana Resources plc             Tel: [phone] 
Michael de Villiers, Chairman 
Kerim Sener, Managing Director 
 
Beaumont Cornish Limited         Tel: [phone] 
Roland Cornish / Felicity Geidt 
 
Beaufort Securities Limited      Tel: [phone] 
Jon Belliss 
 
Panmure Gordon (UK) Limited      Tel: [phone] 
Adam James / Tom Salvesen 
 
 
   Editors' Notes: 
 
   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 
developing 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 Eldorado Gold Corporation in 
north-eastern Turkey.  Eldorado owns 51% of this joint venture and are 
fully funding all exploration work on the JV properties, while Ariana 
owns 49%.  The total resource inventory within this JV is 1.09 million 
ounces of gold. 
 
   The Company's flagship assets are its Kiziltepe and Tavsan gold projects 
which form the Red Rabbit Gold Project.  Both 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 
being assessed as to their economic merits and now form part of a Joint 
Venture with Proccea Construction Co.  The Kiziltepe Sector of the Red 
Rabbit Project is fully-permitted and is currently in construction.  The 
total resource inventory at the Red Rabbit Project and wider project 
area stands at c. 525,000 ounces of gold equivalent. 
 
   Beaufort Securities Limited and Panmure Gordon (UK) 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 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX 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: Ariana Resources plc via Globenewswire 
 
   HUG#2036824 
 
 
  http://www.arianaresources.com/s/Home.asp 
 

(END) Dow Jones Newswires

August 24, 2016 02:00 ET (06:00 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.