TIDMAAU 
 
   24 March 2017 
 
   AIM: AAU 
 
   GOLD AND SILVER PRODUCTION COMMENCES 
 
   Ariana Resources plc ("Ariana" or "the Company"), the exploration and 
development company operating in Turkey, is delighted to announce that 
its first gold-silver doré pour has been completed successfully at 
the Kiziltepe Mine ("Kiziltepe" or "the Project").  Kiziltepe is part of 
the Red Rabbit Joint Venture with Proccea Construction Co. and is 50% 
owned by Ariana. 
 
   Highlights: 
 
 
   -- First doré pour of 5.25kg of gold-silver has been completed at the 
      Kiziltepe Mine (Figure 1). 
 
   -- Final statutory inspections and technical approvals received and the mine 
      site has been issued with an Operations Permit. 
 
   -- Production is expected to ramp up over the coming weeks and through Q2 
      2017. 
 
 
   Dr. Kerim Sener, Managing Director, commented: 
 
   "This is a momentous achievement for the whole Ariana team and our 
partners Proccea Construction Co., who have dedicated themselves 
collectively over many years to make this happen.  We would like to 
specifically commend the significant contribution of the joint venture 
team on site and the support given by the local community and the 
Turkish Government.  We would also like to acknowledge our long-term 
shareholders who have remained committed to our vision and who have 
steadfastly supported our progress. 
 
   As a Company, we will remain focused on enhancing our resource base, 
adding value through further exploration and development work and 
growing our long-term production profile.  Our seven-year partnership 
with Proccea and our proven ability to deliver successfully on our joint 
goals provides a springboard for our future strategy. We look forward to 
providing shareholders with further updates on our progress during the 
coming months." 
 
   Deniz Aybars, Managing Director, Proccea Construction Co.: 
 
   "We are very pleased with the completion of the joint venture's first 
gold mine.  A significant milestone has now been reached and we now look 
forward to working with the Ariana team and our funding partners, 
Turkiye Finans, to build upon our experience at Kiziltepe through the 
development of our joint venture projects in Turkey and possibly 
beyond." 
 
   A photo gallery of the first doré pour at Kiziltepe is available 
below: 
 
   http://arianaresources.com/gold-pour 
 
   A video of the first doré pour and operations at Kiziltepe is 
available below: 
 
   http://www.brrmedia.co.uk/event/143288 
 
   Figure 1 below shows: Dr. Kerim Sener holding the first doré bar 
from the Kiziltepe gold-silver mine.  The doré produced from 
Kiziltepe is typically 1 part gold to 10 parts silver (by weight), 
resulting in a silver rich doré bar. 
 
   Summary of Project: 
 
   Following completion of construction of the tailings dam in February 
(see announcement of 14th February 2017) and the receipt of an 
Operations Permit, a first pour of doré (gold-silver) of 5.25kg has 
now been achieved at Kiziltepe. The Kiziltepe operation is currently 
expected to deliver approximately 20,000 oz gold equivalent per annum 
over eight years of initial mine life, for a total of up to 160,000 oz 
gold equivalent based on current resources.  The operating company, 
Zenit Madencilik San. ve Tic. A.S. (50:50 JV between Ariana and Proccea) 
will be making repayments against its loan from Turkiye Finans Katilim 
Bankasi A.S. based on a pre-determined schedule.  Major loan repayments 
will have been completed by April 2020 and, during this time, excess 
cash-flow from the operation will be used to make repayments of loans 
provided by Ariana and Proccea jointly to the JV for exploration and 
development respectively.  After the repayment of all loans, profits 
from the operation will be shared on a 51:49 basis between Ariana and 
Proccea respectively. 
 
   Ramp up to full production capacity at Kiziltepe is likely to take 
several weeks to achieve, following which quarterly production reporting 
will commence.  In the meantime, the Company is completing a new 
resource estimate for the project based on recent drilling and 
geological interpretation.  Detailed technical and economic assessments 
will be completed on several satellite vein systems which are not 
currently in the mining plan, in anticipation of these being developed 
in future years.  The Company is currently targeting a minimum ten-year 
mine life, which will require the addition of a further 40,000 oz gold 
equivalent in reserves outside of the four main veins (Arzu South, Arzu 
North, Banu and Derya) that are currently scheduled to be mined. 
 
   This announcement contains inside information for the purposes of 
Article 7 of EU Regulation 596/2014. 
 
   Contacts: 
 
 
 
 
Ariana Resources plc             Tel: +44 (0) 20 7407 3616 
Michael de Villiers, Chairman 
Kerim Sener, Managing Director 
 
Beaumont Cornish Limited         Tel: +44 (0) 20 7628 3396 
Roland Cornish / Felicity Geidt 
 
Beaufort Securities Limited      Tel: +44 (0) 20 7382 8300 
Jon Belliss 
 
Panmure Gordon (UK) Limited      Tel: +44 (0) 20 7886 2500 
Adam James / Tom Salvesen 
 
 
 
   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 
developing a portfolio of prospective licences originally selected on 
the basis of its in-house geological and remote-sensing database. 
 
   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, form 
part of a 50:50 Joint Venture with Proccea Construction Co.  The 
Kiziltepe Sector of the Red Rabbit Project is fully-permitted and is 
currently in production.  The total resource inventory at the Red Rabbit 
Project and wider project area stands at c. 525,000 ounces of gold 
equivalent.  At Kiziltepe a Net Smelter Return ("NSR") royalty of up to 
2.5% on future production is payable to Franco-Nevada Corporation.  At 
Tavsan an NSR royalty of up to 2% on future production is payable to 
Sandstorm Gold. 
 
   In north-eastern Turkey, Ariana owns 100% of the Salinbas Gold Project, 
comprising the Salinbas gold-silver deposit and the Ardala 
copper-gold-molybdenum porphyry among other prospects.  The total 
resource inventory of the Salinbas project area is c. 1 million ounces 
of gold equivalent.  A NSR royalty of up to 2% on future production is 
payable to Eldorado Gold Corporation. 
 
   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. 
 
   Glossary of Technical Terms: 
 
   "doré" semi-pure alloy of gold and silver 
 
   "kg" Kilograms 
 
   "oz" Ounces 
 
   Ends 
 
   FIGURE 1 : http://hugin.info/138153/R/2090312/789295.pdf 
 
   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: Ariana Resources plc via Globenewswire 
 
 
  http://www.arianaresources.com/s/Home.asp 
 

(END) Dow Jones Newswires

March 24, 2017 03:00 ET (07:00 GMT)