AAU Ariana Resources Plc

 
TIDMAAU 
 
   22 July 2016 
 
   AIM: AAU 
 
   PLACING TO RAISE GBP445,000 
 
   Ariana Resources plc ("Ariana" or "the Company"), is pleased to announce 
a placing of 29,616,666 new ordinary shares of 0.1 pence each in the 
Company (the "Placing Shares") at a price of 1.5 pence per share (the 
"Placing Price"), in order to raise gross proceeds of approximately 
GBP445,000 (the "Placing") before expenses. The Placing has been 
undertaken within the Company's existing share authorities, and has been 
supported by both new and existing shareholders. The net proceeds of the 
Placing will be used to extend the current drilling programme and for 
developing new projects.  The Placing is conditional only on admission 
to AIM ("Admission"). 
 
   In addition, the Company advises that three directors of the Company, 
namely Mr. Michael de Villiers, Dr. Kerim Sener and Mr. William Payne, 
intend to subscribe for a total of 2,050,000 shares on the same terms 
for a further sum of GBP30,750 following the announcement of the 
Placing. 
 
   Dr. Kerim Sener, Managing Director, commented: 
 
   "The completion of this fundraising occurs at a significant moment in 
the development of the Company, while it delivers on completion of the 
Kiziltepe Mine with its partners, Proccea Construction.  We are 
particularly keen to extend the current drilling programme beyond the 
budgeted 4,000m given the number of new target areas we have defined in 
recent months.  The extended programme will systematically test several 
of these additional areas at Kiziltepe and will also enable us to drill 
other prospect areas as necessary.  We would expect that this work will 
help to define an enhanced project with greater mine life and 
resource/reserve optionality." 
 
   Special note concerning the Market Abuse Regulation 
 
   This announcement contains inside information for the purposes of 
Article 7 of the Market Abuse Regulation (EU) No 596/2014 ("MAR"). 
Market soundings, as defined in MAR, were taken in respect of the 
Placing, with the result that certain persons became aware of inside 
information, as permitted by MAR. That inside information is set out in 
this announcement. Therefore, those persons that received inside 
information in a market sounding are no longer in possession of inside 
information relating to the Company and its securities. 
 
   A further announcement will be made in due course. 
 
   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' 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#2030070 
 
 
  http://www.arianaresources.com/s/Home.asp 
 

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