TIDMAAU 
 
   25 April 2016 
 
   AIM: AAU 
 
   SUBSTANTIAL INCREASE IN KIZILTEPE RESOURCE 
 
   Ariana Resources plc ("Ariana" or "the Company"), is pleased to announce 
an increase and update of its JORC compliant Mineral Resource estimate 
for the Kiziltepe Project following its recent drilling programme in 
Turkey.  Kiziltepe is part of the Red Rabbit Joint Venture with Proccea 
Construction Co. and will be 50% owned by Ariana once mine construction 
is completed in H2 2016. 
 
   Highlights: 
 
 
   -- Overall increase in Mineral Resource estimate of c. 44,500 oz Au and 
      886,000 oz Ag to a total of 195,200 oz Au and 3.15Moz Ag contained metal 
      on four main veins, excluding existing resources on several subsidiary 
      veins such as Kepez.* 
 
 
   -- Substantial increase in tonnage (to c. 2.5Mt) with a corresponding 
      reduction of grade (to c. 2.5 g/t Au and 40.3 g/t Ag) as a result of 
      adoption of revised geological model. 
 
 
   -- Large increase (approx. 45%) in volume of new Whittle-generated pit 
      shells in comparison to designed pits, notably Arzu North and Derya. 
 
 
   -- Whittle base case optimisation demonstrates a potential increase in mine 
      life from c. 8 years to c. 10 years at a designed throughput rate of 
      150,000 tonnes per annum. 
 
 
 
   Dr. Kerim Sener, Managing Director, commented: 
 
   "Following the completion of an extensive review of our geological model 
and the addition of new drilling data, this result is a very pleasing 
update on our resource estimate for the Kiziltepe Mine.  Importantly, 
the discovery cost of these additional ounces is approximately US$5 per 
ounce, which demonstrates the very cost-efficient exploration we are 
able to conduct on this project. 
 
   The resource update, in addition to Whittle optimisation work, 
demonstrates the potential for Kiziltepe to provide for a mine life of 
about 10 years at the designed throughput rate of 150,000 tonnes per 
annum.  This also excludes several subsidiary veins on which we have 
already established resources, which with further work may add further 
to mine life. 
 
   With the enlarged resource and with expectations of further resource 
growth, we are now reviewing our options to potentially increase the 
mine throughput rate up to 200,000 tonnes per annum with our partners, 
Proccea.  Meanwhile, construction at the mine is proceeding well, with 
delivery of the ball-mill to site occurring a few days ago." 
 
   * All Mineral Resource figures in the announcement are quoted gross with 
respect to the Red Rabbit Joint Venture.  Ariana will own 50% of the 
production from the JV when the Kiziltepe Mine is operational. 
 
   Resource Estimate 
 
   Following the completion of a 1,208m Reverse Circulation ("RC") drilling 
programme in December 2015 (see 31 January 2016 Announcement), 
geological consultants Odessa Resources Pty. Ltd. undertook a resource 
estimate for Kiziltepe.  The recent RC drilling coupled with certain 
diamond drilling completed in late 2011 and early 2012, totalling 1,290m, 
was used in the new estimation. 
 
   The new Kiziltepe JORC 2012 compliant Mineral Resource estimate has been 
defined by 213 drill holes and 125 rock-saw channels on 212 
cross-sections with typically 10m section spacing (see JORC Table 1 
below).  Wireframes were constructed using sectional polylines defined 
by a cut-off of 0.5 g/t gold. Several lodes were created from the 
sectional interpretations, which are orientated NW and WNW and typically 
dip steeply at up to 85 degrees towards the northeast (Figure 1) 
comprising four main areas, Arzu South, Arzu North, Banu and Derya. Top 
cuts of 15 g/t Au and 200 g/t Ag were used and a variable bulk density 
ranging between 2.50 and 2.65 g/cm(3) were assigned to the appropriate 
solids and used for the resource estimation.  Grade interpolation was by 
the Inverse Distance Squared ("ID2") method. 
 
   The previous estimate, completed in 2013 by Tetra Tech, identified a 
JORC 2004 compliant Mineral Resource of 1,502,000 tonnes at 3.12g/t gold 
and 46.97g/t silver on four main veins (excluding separate estimates on 
subsidiary veins and alteration halo mineralisation), based on drilling 
completed until 2011.  The addition of 16 diamond holes and 19 RC holes 
undertaken for infill and extension drilling at Kiziltepe completed 
since late 2011, in addition to corresponding modifications of the 
geological model, has increased the Mineral Resource on these four main 
veins to 2,436,315 tonnes at 2.49g/t gold + 40.27g/t silver and has 
confirmed the potential extension of the Arzu structure under cover 
between Arzu South and Arzu North.  This estimate specifically excludes 
several subsidiary veins on which Inferred resources have previously 
been established (for an additional 18,555 oz Au equivalent), such as 
Kepez, Derya West, Aybor, Ceylan and Arzu Far North, in addition to a 
potential 28,230 oz Au equivalent, referred to as "Alteration Halo" in 
the Tetra Tech estimate.  Further drilling, modelling and economic 
assessments will be required on these subsidiary veins and alteration 
halo mineralisation to determine their potential to be included as Ore 
Reserves. 
 
   Table 1: Summary 2016 Kiziltepe JORC 2012 compliant Mineral Resource 
estimate, based on 125 diamond and 76 RC drill holes.  This estimate 
excludes several subsidiary veins such as Kepez, which were a part of 
the previous resource estimate.  Gold equivalent is the sum of the gold 
ounces and the gold equivalent ounces of silver based on a price ratio 
of 60:1. Reporting at a 1/g/t Au cut off, excluding Banu which is 
included in these figures at a 0.5 g/t Au cut-off.  All figures are 
quoted gross with respect to the Red Rabbit Joint Venture. 
 
 
 
 
                  Tonnage   Grade Au  Grade Ag                       Au equiv. 
Classification      (t)      (g/t)      (g/t)    Au (oz)   Ag (oz)     (oz) 
   MEASURED      1,051,491      3.19       43.7  108,009  1,476,700    132,621 
   INDICATED       512,422      2.16       40.6   35,650    668,490     46,792 
   INFERRED        872,402      1.84       36.0   51,545  1,008,906     68,360 
    GLOBAL       2,436,315      2.49       40.3  195,205  3,154,096    247,773 
 
 
 
   Figure 1, which can be accessed by clicking on or pasting the following 
link into your web browser: 
http://hugin.info/138153/R/2006265/741269.pdf, is the three-dimensional 
model of the Kiziltepe vein system (in yellow) looking north, showing 
the modelled ore zones and current drilling. The Arzu Central target 
area is shown in grey. 
 
   Whittle Optimisation 
 
   Whittle Pit Optimisation Software was used by Auralia Mining Consulting 
Pty. Ltd. to define pit shells on all-materials that contained grade 
within the resource block model.  The optimisation work generated four 
pit shells at Arzu South, Arzu North, Banu and Derya respectively 
(Figure 2: http://hugin.info/138153/R/2006265/741270.pdf ).  The Whittle 
base case optimisation work was run using the parameters provided in 
Table 2.  The Arzu South pit shell is the largest with dimensions of 860 
x 145 x 90m, followed by the Arzu North (530 x 175 x 85m), Derya (545 x 
150 x 80m) and Banu (485 x 90 x 50m) pit shells.  The output of the 
Whittle optimisations is provided in Table 3.  It is important to note 
that actual pit designs may vary from these optimised pit shells based 
on a variety of modifying factors that will result from an increase in 
the accuracy and definition of future work, notably additional 
confirmatory and grade control drilling, geotechnical analysis and mine 
planning.  The bulk of the Mineral Resource sits within these four pit 
shells and therefore has a high probability of being converted into Ore 
Reserve classification once these modifying factors are fully taken in 
to account. 
 
   Figure 2, which can be accessed by clicking on or pasting the following 
link into your web browser: 
http://hugin.info/138153/R/2006265/741270.pdf, is the three-dimensional 
model of the four main veins on Kiziltepe comprising the current 
resource estimate, showing new Whittle optimised base case pit shells 
(in red), the designed pits from the Definitive Feasibility Study (in 
light blue) and the new vein model (in yellow). 
 
   Table 2: Whittle optimisation parameters used for the Kiziltepe base 
case.  Cut-off grades were calculated as per the formula: ECOG = (Mining 
Dilution x Processing Cost)/Processing Recovery x (Sell Price - Sell 
Costs).  Note that a gold equivalent cut-off grade was not implemented 
in the base case Whittle optimisations. 
 
 
 
 
Whittle Input Parameter                             Value   Unit 
Overall Pit Slope                                    50    Degrees 
Mining Cost (ore and Waste)                           1     US$/t 
Mining Dilution                                        10% 
Mining Recovery                                        95% 
Processing Cost                                        23    US$/t 
Processing Recovery (Au)                               87% 
Processing Recovery (Ag)                               64% 
Discount Rate                                           8% 
G&A Cost (haulage at $8.40/t plus G&A at $1.60/t)    11     US$/t 
Metal Price Gold                                    1,060  US$/oz 
Metal Price Silver                                   15    US$/oz 
Total Selling Cost Au (NSR 2%)                      34.84  US$/oz 
Total Selling Cost Ag (NSR 2%)                      0.69   US$/oz 
 
 
 
   The Whittle base case optimisations were conducted on the basis that all 
JORC classified material, including Inferred and Unclassified, was 
included to be considered for processing. 
 
   Table 3: Output of Whittle base case optimisation, showing key 
parameters.  Numbers are rounded to one decimal place. 
 
 
 
 
Ore t input to mill                     1,520,000 
Au grade input to mill                    2.8 g/t 
Ag grade input to mill                   38.8 g/t 
Waste t                                   21.8 Mt 
Strip Ratio                                  14.3 

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Mine life @150ktpa mill throughput   10.2 years 
Product Au                           119,000 oz 
Product Ag                           1,214,000 oz 
 
 
 
   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 
 
Loeb Aron & Company Ltd.         Tel: +44 (0) 20 7628 1128 
John Beresford-Peirse 
 
 
 
   Editor's Notes 
 
   Competent Person: 
 
   The information in this report that relates to Mineral Resources is 
based on information compiled by Mr. Alfred Gillman of Odessa Resources 
Pty. Ltd., who is a fellow of the Australasian Institute of Mining and 
Metallurgy.  Mr. Gillman is a consultant to Ariana Resources plc and has 
sufficient experience relevant to the styles of mineralisation and type 
of deposit under consideration and to the subject matter of the report 
to qualify as Competent Person and defined in the 2012 edition of the 
Australasian Code for the Reporting of Exploration Results Mineral 
Resources and Ore Reserves (JORC Code).  Mr. Gillman consents to the 
inclusion in the report of the matters based on his information in the 
form and context in which it appears. 
 
   Dr Kerim Sener, BSc (Hons), MSc, PhD, is the Managing Director of Ariana 
Resources plc.  A graduate of the University of Southampton in Geology, 
he also holds a Master's degree from the Royal School of Mines (Imperial 
College, London) in Mineral Exploration and a doctorate from the 
University of Western Australia.  He is a Fellow of The Geological 
Society of London and has worked in geological research and mineral 
consultancy in Africa, Australia and Europe.  He has read and approved 
the technical disclosure in this regulatory announcement. 
 
   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 
presently being assessed as to their economic merits and now form part 
of a Joint Venture with Proccea Construction Co.  The total resource 
inventory at the Red Rabbit Project stands at 475,000 ounces of gold 
equivalent. 
 
   Beaufort Securities Limited and Loeb Aron & Company Ltd. 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. 
 
   JORC Table 1 
 
   Ariana Resources Kiziltepe Project 
 
   The table below is a description of the assessment and reporting 
criteria used in the Kiziltepe Project Mineral estimation that reflects 
those presented in Table 1 of The Australasian Code for the Reporting of 
Exploration Results, Mineral Resources and Ore Reserves (The JORC Code, 
2012).  The Mineral Resource statement was prepared for the Kiziltepe 
Project. 
 
   Sampling techniques and Data 
 
   Sampling techniques 
 
 
   -- Reverse circulation (RC) chips were collected at 1m intervals and in some 
      cases over 0.5m intervals over the mineralised zone. The chips were 
      collected into plastic sample bags from a cyclone to ensure maximum 
      recovery. The samples were split using a standard riffle-splitter to 
      around 0.25 to 0.5 kg per sample and sent to an ISO-accredited laboratory 
      in Romania for Au and Ag analysis by fire assay. 
 
   -- Full core was split using a rock saw and half-core samples were taken at 
      variable intervals. Core recovery was recorded into the database. 
 
 
   Drilling techniques 
 
 
   -- Percussion 
 
   -- Reverse Circulation (130mm diameter) 
 
   -- Diamond coring -  NQ diameter 
 
 
   Drill sample recovery 
 
 
   -- Core recoveries were monitored and were generally good (>95%). 
 
   -- RC recoveries were routinely monitored. 
 
 
   Logging 
 
 
   -- All RC and core holes were logged lithologically using a coded logging 
      system for rock type, grain size, colour, alteration and any other 
      relevant observations. 
 
   -- Mineralised zones were identified from the gamma logging as well as 
      handheld XRF. 
 
 
   Subsampling techniques and sample preparation 
 
 
   -- Samples from diamond drilling were collected as sawn half-core or in some 
      cases full-core. 
 
   -- A combination of cyclone and riffle splitter to produce 0.25-0.5 kg 
      subsamples of RC chips was used. Wet intervals were sub-sampled with 
      scoop or spear. Samples were oven-dried at the laboratory if necessary. 
 
 
   Quality of assay data and laboratory tests 
 
 
   -- QC procedures employed in all recent drill programs included the 
      insertion of certified reference standards (1:22), blank samples (1:22), 
      pulp and crush duplicates (2:22) to monitor the accuracy and precision of 
      laboratory data. 
 
   -- The overall quality of QAQC is considered adequate to ensure the validity 
      of the data used for resource estimation purposes. 
 
 
   Verification of sampling and assaying 
 
 
   -- Samples collected by Ariana were submitted to  ALS Global preparation 
      facilities in Izmir and analysis in Romania, Canada or Australia (ISO 
      9001 accredited). 
 
 
   Location of data points 
 
 
   -- All collar positions were located initially by hand-held GPS and later 
      surveyed by a professional surveyor using DGPS equipment. 
 
   -- Downhole deviation surveys were not routinely carried out in holes of 
      less than 100m depth. Deeper holes were surveyed using a standard 
      electromagnetic deviation tool. 
 
 
   Data spacing and distribution 
 
 
   -- At Kiziltepe drill section spacing is typically  10 to 12.5m with several 
      holes often being collared from a single site. 
 
 
   Orientation of data in relation to geological structure 
 
 
   -- The dip of the mineralisation for most of the deposit is 75-85o towards 
      the northeast. 
 
   -- Local grade continuity follows the dip of the mineralisation for the 
      entire deposit. All drilling is angled, thus intersecting the 
      mineralisation obliquely. 
 
   -- No biases are expected from the drilling direction. 
 
 
   Sample security 
 
 
   -- Samples are stored at a secure company facility (Sindirgi Depot) in a 
      clean area free of any contamination. During an active drilling programme, 
      samples are delivered to the laboratory once a week by Aras Cargo, 
      Sindirgi. 
 
   -- Chain of custody is demonstrated by both the company and ALS Global in 
      the delivery and receipt of sample materials. Upon receipt of samples, 
      ALS Global delivers by email to the company's designated QC Manager, 
      confirmation that each batch of 22 samples has arrived, with its 
      tamper-proof seal intact, at the Izmir sample preparation facility. 
 
   -- Any damage to or loss of samples within each batch (e.g. total loss, 
      spillage or obvious contamination), must also be reported to the company 
      in the form of a list of samples affected and detailing the nature of the 
      problem(s). 
 
 
   Audits and reviews of sampling and assaying 
 
 
   -- Ariana has implemented QA/QC programs covering all aspects of sample 
      location and collection that meets or exceeds the currently accepted 
      industry standards.  Ariana implemented a QA/QC programme based on 
      international best practice during the initial exploration work and 
      subsequent drilling programmes. The company has continued to review and 
      refine the QA/QC programme as these exploration campaigns have 
      progressed. 
 
 
   Estimation and reporting of Kiziltepe Mineral Resources 
 
   Database integrity 
 
 
   -- The Kiziltepe resource data is stored in a MS Access database and is 
      managed using MS Access and Excel software. 
 
   -- Data was logged onto field sheets which were then entered into the data 
      system by data capture technicians. 
 
   -- Data was validated on entry into the database, or on upload from the 
      earlier MS Access databases, by a variety of means including the 
      enforcement of coding standards, constraints and triggers. These are 
      features built into the data model that ensure data meets essential 
      standards of validity and consistency. 
 
   -- Laboratory data has been received in digital format and uploaded directly 
      to the database. 
 
   -- Original data sheets and files have been retained and are used to 
      validate the contents of the database against the original logging. 
 
   -- Independent consultants Odessa Resources Pty Ltd performed a visual 
      validation by reviewing drillholes on section and by subjecting drillhole 
      data to data auditing processes in specialised mining software (e.g. 
      checks for sample overlaps etc.). 
 
 
   Site visits 
 
 
   -- Two site visits have been undertaken by Odessa Resources Pty Ltd. 
 
   -- Ariana staff have visited the site on numerous occasions in order to 
      observe drilling and sampling operations in order to ensure proper QAQC 

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      and sampling protocols are maintained. 
 
 
   Geological interpretation 
 
 
   -- Veins the Kiziltepe prospect, comprise WNW-NNW trending, sub-parallel, 
      low-sulphidation style veins and related stockworks are hosted by dacite 
      and dacitic pyroclastic units. 
 
   -- At Arzu North and Banu the veins appear to bifurcate. 
 
   -- Interpretations of geological surfaces derived from 3D modelling of 
      drillhole lithological data. 
 
 
   Dimensions 
 
   Arzu South 
 
 
   -- In plan orientation, the deposit is approximately 750 metres long and 
      2-10m metres wide. 
 
   -- One primary lode trending 320 degrees and 150m northerly-trending 
      southern section separated from main lode by interpreted fault 
 
   -- Lodes vary from 2-10m in thickness with main lode averaging 5m thickness 
 
   -- Mineralisation has vertical extents ranging between 385 and 220mRL. 
 
 
   Arzu North 
 
 
   -- The deposit is approximately 460 metres long and comprises several 
      steeply-dipping parallel and partly overlapping 310 degree trending 
      lodes. 
 
   -- Mineralisation has vertical extents ranging between 405 and 220mRL. 
 
 
   Derya 
 
 
   -- The deposit is approximately 450 metres long and comprises several steep 
      north-dipping sub-parallel and partly overlapping, 290 degree trending 
      lodes. 
 
   -- Mineralisation has vertical extents ranging between 400 and 240 mRL 
      (average 90m down dip distance) 
 
 
   Gapz 400 
 
 
   -- The deposit is approximately 150 metres long and comprises a single 
      vertical 305 degree trending lode. 
 
   -- Mineralisation has vertical extents ranging between 410 and 300mRL. 
 
 
   Gapz 500 
 
 
   -- The deposit is approximately 80 metres long and comprises a single steep 
      north-dipping 300 degree trending lode. 
 
   -- Mineralisation has vertical extents ranging between 395 and 320mRL. 
 
 
   Banu 
 
 
   -- The deposit extends over a strike length of 470m and comprises a single 
      sub-vertical 330 degree trending lode. The lode is disrupted by possible 
      fault/shear zone that breaks up the lode into several sub-parallel 
      segments. 
 
   -- Mineralisation has vertical extents ranging between 395 and 265mRL. 
 
 
   Estimation and modelling techniques 
 
 
   -- Drillhole sample data was constrained within: 
 
          -- Kiziltepe: manually constructed wireframes defined by nominal 
             0.5g/t Au cut off. 
 
          -- Several <0.5g/t Au intervals were included to maintain geological 
             continuity. 
 
   -- Sample data was composited to a 1 metre downhole length using a 
      wireframe-intersection compositing method. Residual samples (those 
      composite intervals for which there was less than 50% of the composite 
      length) were not considered biased and hence were included in the 
      estimate. 
 
   -- An analysis of the grade distribution characteristics of the domain 
      composites for each deposit was undertaken.  In each case one of the 
      following was identified: noticeable high grade inflection points on 
      log-probability graphs and/or significant gaps on disintegration plots. 
 
   -- The following top cuts were used: 
 
 
   Gold     15g/tAu 
 
   Silver    200g/tAg 
 
 
   -- Isotropic search ellipses and ranges were used. 
 
   -- The Arzu-Derya block model was constructed using a 15mE by 5mN by 10mRL 
      parent block size. 
 
   -- The Banu block model was constructed using a 5mE by 5mN by 5mRL parent 
      block size. 
 
   -- Estimation was carried out using inverse distance squared (ID2) at the 
      parent block scale using a three estimation pass using all available 
      composite. 
 
   -- A percentage model was used to report precisely the volume of material 
      within each block. 
 
 
   Moisture 
 
 
   -- Tonnes have been estimated on a dry basis. 
 
 
   Cut-off parameters 
 
 
   -- Indicated and Inferred Resources have been reported above a 1.0 Au 
      cut-off grade. 
 
   -- Banu 0.5g/t Au cut off. 
 
 
   Mining factors or assumptions 
 
 
   -- No mining factors (i.e. dilution, ore loss, recoverable resources at 
      selective mining block size) have been applied. 
 
 
   Metallurgical factors or assumptions 
 
 
   -- No metallurgical assumptions have been built into the resources. However, 
      metallurgical test work concludes that recoveries of up to 87% and 64% 
      for gold and silver respectively can be achieved (Tetra Tech DFS). 
 
 
   Environmental factors or assumptions 
 
 
   -- Statutory forestry permits have been approved by the Prime Ministry and 
      issued by the Department of Forestry for the Kiziltepe Sector of the Red 
      Rabbit Project. 
 
 
   Bulk density 
 
 
   -- Bulk density data was sourced from the Tetra Tech (2013) model. 
 
   -- Assigned bulk density of has been applied according to the following 
      table: 
 
 
 
 
 
Prospect     Solid  Assigned Density 
Arzu North     200              2.55 
Arzu North     201              2.65 
Arzu North     202              2.65 
Arzu North     203              2.65 
Arzu North     204              2.65 
Arzu South     100              2.55 
Arzu South     101              2.50 
Arzu South     102              2.50 
Banu          100c              2.55 
Banu          200c              2.55 
Banu          300c              2.55 
Derya          300              2.55 
Gapz           400              2.50 
Gapz           500              2.50 
 
 
 
   Classification criteria 
 
 
   -- Mineral Resources have been classified on the basis of confidence in 
      geological and grade continuity using the drilling density, geological 
      model and modelled grade continuity. 
 
   -- Measured Mineral Resources have been defined by a search radius of 5m 
 
   -- Indicated Mineral Resources have been defined by a search radius of 5-25m 
 
   -- Inferred Mineral Resources have been defined by a search radius of 25-70m 
 
 
   Block Model verification 
 
 
   -- For each deposit, the ID2 model was validated against the input drillhole 
      composites for each domain by visual comparisons carried out against the 
      composited drillhole samples for each domain against the modelled block 
      grade. 
 
 
   Audits or reviews 
 
 
   -- The estimated grades were validated against average Au and Ag grade 
      statistics for each lode. 
 
 
   Discussion of relative accuracy/ confidence 
 
 
   -- Odessa Resources Pty Ltd place a relative accuracy of +/- 20% (and 90 % 
      confidence level) in the Mineral Resource estimate at the global level 
      for the Indicated Resources based on the estimation technique and data 
      quality and distribution.  Inferred Resources would have a lower level of 
      confidence outside of this range. 
 
 
   Criteria 
 
   Explanation 
 
   Glossary of Technical Terms: 
 
   "Ag" the chemical symbol for silver; 
 
   "Au" the chemical symbol for gold; 
 
   "cut-off grade" The lowest grade, or quality, of mineralised material 
that qualifies as economically mineable and available in a given 
deposit. May be defined on the basis of economic evaluation, or on 
physical or chemical attributes that define an acceptable product 
specification; 
 
   "g/t" grams per tonne; 
 
   "Indicated resource" a part of a mineral resource for which tonnage, 
densities, shape, physical characteristics, grade and mineral content 
can be estimated with a reasonable level of confidence. It is based on 
exploration, sampling and testing information gathered through 
appropriate techniques from locations such as outcrops, trenches, pits, 
workings and drill holes. The locations are too widely or 
inappropriately spaced to confirm geological and/or grade continuity but 
are spaced closely enough for continuity to be assumed; 
 
   "Inferred resource" a part of a mineral resource for which tonnage, 
grade and mineral content can be estimated with a low level of 
confidence. It is inferred from geological evidence and has assumed, but 
not verified, geological and/or grade continuity. It is based on 
information gathered through appropriate techniques from locations such 
as outcrops, trenches, pits, workings and drill holes that may be 
limited or of uncertain quality and reliability; 
 
   "Inverse Distance Squared" a conventional mathematical method used to 
calculate mineral resources.  Near sample points provide a greater 
weighting than samples further away for any given resource block; 
 
   "JORC" the Joint Ore Reserves Committee; 
 
   "JORC 2004" is the previous edition of the JORC Code, which was 
published in 2004.  It has been superseded by JORC 2012; 
 
   "JORC 2012" is the current edition of the JORC Code, which was published 
in 2012.  After a transition period, the 2012 Edition came into 
mandatory operation in Australasia from 1 December 2013; 
 
   "m" Metres; 
 
   "Measured resource" a part of a Mineral Resource for which tonnage, 
densities, shape, physical characteristics, grade and mineral content 
can be estimated with a high level of confidence. It is based on 
detailed and reliable exploration, sampling and testing information 
gathered through appropriate techniques from locations such as outcrops, 
trenches, pits, workings and drillholes. The locations are spaced 
closely enough to confirm geological and grade continuity. 
 
   "oz" Ounces; 
 
   "t" Tonnes; 
 
   "Whittle" computer software that uses the Lerch-Grossman algorithm, 
which is a 3-D algorithm that can be applied to the optimisation of 
open-pit mine designs.  The purpose of optimisation is to produce the 
most cost effective and most profitable open-pit design from a resource 
block model. 
 
   Ends 
 
   Figure 1: http://hugin.info/138153/R/2006265/741269.pdf 
   Figure 2: http://hugin.info/138153/R/2006265/741270.pdf 
 
   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. 
 

(MORE TO FOLLOW) Dow Jones Newswires

April 25, 2016 02:00 ET (06:00 GMT)

   Source: Ariana Resources plc via Globenewswire 
 
   HUG#2006265 
 
 
  http://www.arianaresources.com/s/Home.asp 
 

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April 25, 2016 02:00 ET (06:00 GMT)

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