TIDMAAU 
 
   4 October 2016 
 
   AIM: AAU 
 
   CONSTRUCTION UPDATE - KIZILTEPE 
 
   Ariana Resources plc ("Ariana" or "the Company"), the gold exploration 
and development company operating in Turkey, is pleased to provide an 
update on construction of the Kiziltepe Mine within the Red Rabbit 
Gold-Silver Project in Western Turkey ("Red Rabbit").  Kiziltepe is 
being advanced towards production through a 50:50 Joint Venture ("JV") 
with Proccea Construction Co. ("Proccea").  The project is expecting 
first production in Q4 2016. 
 
   Highlights: 
 
 
   -- Process (CIL/CIC and ADR*) piping and electrical work to be completed by 
      late October/early November. 
 
   -- Back-up tailings pumps have arrived on site and are awaiting installation 
      ahead of commissioning; larger diaphragm pump to be installed early 
      2017. 
 
   -- Commissioning process now underway, commencing with process plant; wet 
      testing of thickeners and CIL/CIC tanks now complete. 
 
   -- Automation circuits and programmes to be operational during late stage 
      commissioning in Q4 2016. 
 
   -- Open-pit development by the mining contractors fully underway, with 
      mining and stockpiling of low-grade ore in progress ahead of 
      commissioning and start-up (Figure 1). 
 
   -- 95% of the tailings dam landscaping is complete, with the dam wall and 
      concrete drainage channel under construction. 
 
   -- Mine-site laboratory set up nearing completion with major components now 
      installed or awaiting installation and testing. 
 
   -- Final commissioning and first gold pour expected in late Q4 2016; 
      tailings dam completion and weather permitting. 
 
 
   Dr. Kerim Sener, Managing Director, commented: 
 
   "Following our most recent visit to Kiziltepe, completed last week, we 
are very pleased to report that mining of the Arzu South vein has 
commenced and stockpiling of this material is underway.  The JV is also 
developing a staged pit design that will optimise the cashflow and 
overall resource recovery from the Arzu South pit.  Work on the process 
plant area is now nearing completion and the only significant remaining 
hurdle before we can commence gold-silver production is the completion 
of the tailings dam, which is expected during Q4 2016." 
 
   * CIL - Carbon-in-Leach; CIC - Carbon-in-Column; ADR - 
Adsorption-Desorption-Recovery 
 
   Figure 1 is attached and shows: View of the Kiziltepe mine-site showing 
the current status of construction progress, taken from the tailings dam 
road.  The crushers, screens, ball-mill and CIL/CIC and ADR process 
plant buildings are all complete with components fully installed 
(buildings with blue shrouding).  Piping and electrical work is ongoing, 
and commissioning is underway.  Open-pit development is underway to the 
left of the image along the Arzu South vein and ROM stockpiles are seen 
just to the right of the blue buildings.  The mine site laboratory is 
the white building to the left of the photograph.  Geomembrane for the 
tailings dam is stored beneath the yellow and blue tarpaulin in the 
foreground. 
 
   http://hugin.info/138153/R/2046402/764742.pdf 
 
   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 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 
 
   Attachment : http://hugin.info/138153/R/2046402/764742.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

October 04, 2016 02:00 ET (06:00 GMT)

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