AAU Ariana Resources Plc

 
TIDMAAU 
 
   27 July 2015 
 
   AIM: AAU 
 
   PLACING AND SUBSCRIPTION TO RAISE GBP1,000,000 
 
   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 raised GBP1,000,000 before expenses.  The proceeds 
of the Placing and Subscription will be used primarily for further 
exploration and resource development of the Kiziltepe Sector of the Red 
Rabbit Gold Project in western Turkey ("Red Rabbit") where first gold 
production is expected to commence in H2 2016 and for additional working 
capital. 
 
   Details of the Placing and Subscription 
 
   The Company has placed 77,777,778 new ordinary shares (the "Placing 
Shares") and 33,333,333 new ordinary shares (the "Subscription Shares") 
to raise GBP1,000,000 (before expenses) at a price of 0.9 pence per new 
ordinary share.  Proccea Construction Co. ("Proccea"), Ariana's JV 
partner on Red Rabbit, and Directors of the Company have subscribed in 
the Subscription as follows: 
 
 
 
 
                         Number of        Shareholding in     Percentage of 
                        Subscription     Ariana after the      issued share 
Subscription           Shares issued       Subscription          capital 
Proccea                      11,111,111         22,602,021               2.82% 
Michael de Villiers           6,111,112         19,911,112               2.48% 
Dr Kerim Sener                2,222,222         12,410,201               1.55% 
 
 
   The Directors' subscription ("Directors' Subscription") is a related 
party transaction under the AIM Rules, and William Payne, the 
independent director, having consulted with the nominated adviser, 
considers the Directors' Subscription to be fair and reasonable so far 
as shareholders are concerned. 
 
   Application has been made to the London Stock Exchange for the Placing 
Shares and Subscription Shares to be admitted to trading and it is 
expected that Admission will occur, and dealings in the Placing Shares 
and Subscription Shares will commence on 30 July 2015. 
 
   The Placing Shares and Subscription Shares will, when issued, rank pari 
passu in all respects with the existing issued shares of Ariana, 
including the right to receive any dividends and other distributions 
declared following Admission. 
 
   As at the date of Admission, the Company's issued share capital will 
consist of 802,060,195 Ordinary Shares with a nominal value of 0.1p each, 
with voting rights ("Ordinary Shares").  The Company does not hold any 
Ordinary Shares in Treasury.  Therefore the total number of Ordinary 
Shares in the Company with voting rights is 802,060,195. 
 
   Dr. Kerim Sener, Managing Director, commented: 
 
   "This fundraising provides the Company with the funds required to 
continue its planned exploration and resource development work at the 
Kiziltepe Sector of the Red Rabbit Gold Project.  In the past 18 months 
the Company has systematically established multiple resource target 
areas and has advanced several of these to the point of drill-testing. 
 
   "Together with our partners, Proccea, we recognise the potential for the 
project to yield additional resources that can ultimately be fed in to 
the mining schedule and increase mine life of Kiziltepe where we 
anticipate our first gold pour in H2 2016, currently targeting 20,000 oz 
per annum.  We are very pleased to have the support of our partners in 
this fundraising ahead of imminent mine construction; like us, they 
understand the value of additional exploration and resource development 
at this important time in the development of the mine. 
 
   "We look forward to updating shareholders further with exploration and 
mine construction news in the coming months." 
 
   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 
 
St Brides Partners Ltd                  Tel: +44 (0) 20 7236 1177 
Lottie Brocklehurst / Felicity Winkles 
 
 
 
   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#1941269 
 
 
  http://www.arianaresources.com/s/Home.asp 
 

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