AAU Ariana Resources Plc

 
TIDMAAU 
 
   7 April 2015 
 
   AIM: AAU 
 
   INCREASED INVESTMENT BY METAL TIGER 
 
   Ariana Resources plc ("Ariana" or "the Company"), the Anglo-Turkish gold 
exploration and development company focused on Turkey is pleased to 
announce that it has entered into a further strategic investment 
agreement with Metal Tiger plc (LON:MTR) ("Metal Tiger") that includes a 
direct equity investment of GBP100,000 by Metal Tiger for shares with 
attaching warrants in Ariana. 
 
   Highlights: 
 
 
   -- Metal Tiger to invest a further GBP100,000 in Ariana at 0.9p per share to 
      acquire an additional 11,111,111 shares. 
 
 
   -- Metal Tiger to receive 11,111,111 warrants to subscribe for Ariana shares 
      at 1.8p per share with a three year exercise period. 
 
 
   -- Metal Tiger to retain a right to subscribe for a further GBP75,000 into 
      Ariana by 30 June 2015 at 0.9p per share. 
 
 
   Dr. Kerim Sener, Managing Director, commented: 
 
   "Ariana is pleased to announce a further strategic investment in the 
Company by Metal Tiger, which together with existing cash resources, 
supports key exploration and development activity planned for the 
upcoming field season and core working capital requirements to Q4 2015. 
This expression of confidence in Ariana follows from recent developments 
including notable progress on the Red Rabbit JV and the completion of a 
positive Scoping Study on the Salinbas Project. 
 
   "The Company recognises the significant catalytic potential of its Red 
Rabbit project advancing in to construction or the potential sale of the 
Salinbas/Ardala asset.  Either of these events would crystallise value 
for the Company and its shareholders.  Recent work allows, for the first 
time, value to be ascribed to both joint ventures in our portfolio; Red 
Rabbit on the basis of its Definitive Feasibility Study and now Salinbas 
on the basis of its Scoping Study. 
 
   "We welcome the additional investment by Metal Tiger at this pivotal 
moment in the history of the Company.  With the investment announced 
today, Metal Tiger has to date invested GBP175,000 into Ariana, with the 
potential to increase to GBP250,000 by June 2015 or more should Metal 
Tiger exercise their warrants which are priced at a minimum of 1.8p.  We 
look forward to further collaboration with Metal Tiger as we advance our 
strategic partnership." 
 
   Subscription Agreement Information 
 
   Ariana previously announced on 5 February 2015 a Direct Equity 
Subscription by the Metal Tiger into Ariana of GBP75,000 for 8,333,333 
shares in Ariana at 0.9p per share.  As part of this original investment, 
8,333,333 warrants were issued to Metal Tiger to subscribe for shares in 
Ariana at 1.8 per share with an exercise period of 3 years from the 
subscription date.  Should Ariana dispose of their Salinbas/Ardala JV 
asset for in excess of US$15 million, the exercise price for any 
unexercised warrants would be increased by 50% to 2.7p per share. 
 
   Furthermore, Metal Tiger also agreed to subscribe in shares in Ariana 
for an additional GBP75,000 on the same subscription terms, within 20 
business days of the receipt of forestry permits for its Red Rabbit 
Project by 30 June 2015*.  This second subscription could be accelerated 
and completed at any time prior to 30 June 2015. 
 
   Metal Tiger has now completed a further equity investment into Ariana of 
GBP100,000 for 11,111,111 shares at 0.9p per share.  As part of this 
investment Ariana has issued an additional 11,111,111 warrants to 
subscribe for shares in Ariana at an exercise price of 1.8p per share 
and with an exercise period of 3 years.  This investment is separate and 
in addition to the previous subscription agreement announced on 5 
February 2015. 
 
   Metal Tiger retains the right to subscribe for an additional GBP75,000 
at 0.9p per Ariana share by 30 June 2015, on the same basis as outlined 
in the subscription agreement of 5 February 2015, save that this 
subscription is now solely at Metal Tiger's volition. 
 
   * Receipt of the forestry permits will enable the construction phase of 
the Red Rabbit Project to commence, following which production is 
expected after approximately eight months of build time. 
 
   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 
Saif Janjua 
 
Loeb Aron & Company Ltd.                 Tel: +44 (0) 20 7628 1128 
John Beresford-Peirse / Dr. Frank Lucas 
 
St Brides Partners Ltd                   Tel: +44 (0) 20 7236 1177 
Susie Geliher / Lottie Brocklehurst 
 
 
 
   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 
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. 
 
   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#1909156 
 
 
  http://www.arianaresources.com/s/Home.asp 
 

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