MARL Mariana Res

 
TIDMMARL 
 
 
 
 
AIM: MARL 
 27 June 2016    Suite 102, 3 Eden Street 
                   North Sydney, NSW 2060 
                                Australia 
 
 
   Mariana Engages RungePincockMinarco to Complete a Preliminary Economic 
Assessment for the High Grade Gold-Copper Hot Maden Project 
 
   Mariana Resources Ltd ('Mariana' or 'the Company'), the AIM listed 
exploration and development company with projects in Turkey and South 
America, is pleased to announce that it has engaged RungePincockMinarco 
("RPM"), a global leader in mining advisory and consulting services, to 
complete a National Instrument 43-101 ("NI 43-101") compliant 
Preliminary Economic Assessment ("PEA"*) for the Hot Maden gold-copper 
project. 
 
   The PEA study is currently scheduled for completion late-Q3/early Q4 
2016 and will incorporate the updated Mineral Resource Estimate required 
for the Company's TSX.V listing, which is expected to be completed by 
RPM by end June / early July. 
 
   Chief Executive Officer, Glen Parsons, today commented: 
 
   "The completion of the PEA will be a truly defining milestone for 
Mariana and the Hot Maden project: 
 
 
   -- It will represent the first integrated PEA-level evaluation of 
      development options and financial modelling of the Hot Maden deposit for 
      life of mine. The study will focus on low footprint sustainable mining 
      options, adopting first class international technical and environmental 
      standards specific and appropriate for the Hot Maden Project. 
 
   -- The PEA will be the first publicly avaliable independent and 
      comprehensive economic study for Hot Maden, which will define a 
      quantifiable net present value for life of mine. 
 
 
   "This initial PEA study will give our shareholders and the market a 
better understanding of the significance of this high grade Gold and 
Copper Hot Maden Project as we continue to advance along the project 
development curve." 
 
   * A "PEA" is a study other than a pre-feasibility study or feasibility 
study which includes an economic analysis of the potential viability of 
mineral resources - Canadian Securities Administrators (CSA) 
 
   **ENDS** 
 
   Qualified Person 
 
 
   The information in this release has been reviewed by Eric Roth, Chief 
Operating Officer and Executive Director of Mariana Resources. Mr Roth 
holds a Ph.D. in Economic Geology from the University of Western 
Australia, is a Fellow of the Australian Institute of Mining and 
Metallurgy (AusIMM), and is a Fellow of the Society of Economic 
Geologists (SEG).  Mr Roth has 25 years of experience in international 
minerals exploration and mining project evaluation. 
 
   For further information please visit website at www.marianaresources.com 
or contact the following. 
 
 
 
 
In Australia: 
Glen Parsons (CEO)   Mariana Resources Ltd               +61 2 9437 4588 
Eric Roth (COO)      Mariana Resources Ltd               +56 9 8818 1243 
Rob Adamson          RFC Ambrian Limited (Nomad)         +61 2 9250 0041 
Will Souter          RFC Ambrian Limited (Nomad)         +61 2 9250 0050 
In U.K. 
Oliver Stansfield    Brandon Hill Capital (UK Broker)   +44 20 3463 5061 
Jonathan Evans       Brandon Hill Capital (UK Broker)   +44 20 3463 5016 
Camilla Horsfall     Blytheweigh (Financial PR)         +44 20 7138 3224 
Megan Ray            Blytheweigh (Financial PR)         +44 20 7138 3203 
 
   About Mariana Resources 
 
   Mariana Resources Ltd is an AIM quoted exploration and development 
company with an extensive portfolio of gold, silver and copper projects 
in South America and Turkey. 
 
   Mariana's most advanced asset is the Hot Maden gold-copper project in 
north east Turkey, which is a joint venture with its Turkish JV partner 
Lidya (30% Mariana and 70% Lidya) rapidly advancing to development . A 
maiden mineral resource estimate of 2.03 Moz gold Equivalent (Indicated 
Category) and 0.97 Moz gold Equivalent (Inferred Category) (100% basis) 
was reported for Hot Maden on August 18, 2015. Elsewhere in Turkey, 
Mariana holds a 100% interest in the Ergama gold-copper project. 
 
   In southern Argentina, the Company's core gold-silver projects are Las 
Calandrias (100%), Sierra Blanca (100%), Los Cisnes (100%), Bozal 
(100%). These projects are part of a 160,000+ Ha land package in the 
Deseado Massif epithermal gold-silver district in mining-friendly Santa 
Cruz Province. 
 
   Mariana acquired 100% interests in the Doña Ines gold-silver and 
Exploradora East copper prospects in northern Chile through the Aegean 
Metals Group transaction which closed in January, 2015, with Mariana 
exploration now being funded by Asset Chile through the provision of 
$1.65m for a total 50% interest. 
 
   In Suriname, Mariana has a direct holding of 10.2% of the Nassau Gold 
project. The Nassau Gold Project is a 28,000 Ha exploration concession 
located approximately 125 km south east of the capital Paramaribo and 
immediately adjacent to Newmont Mining's 4.2Moz gold Merian project. 
 
   In Peru, Mariana is focusing on acquiring new opportunities which 
complement its current portfolio. 
 
   About RPM 
 
   RPM is the world's largest publicly traded independent group of mining 
technical experts, with history stretching back to 1968. RPM has local 
expertise in all mining regions and is  experienced across all 
commodities and mining methods. Listed on the Australian Securities 
Exchange on 27 May 2008, RPM is a global leader in the provision of 
advisory consulting, technology and professional development solutions 
to the mining industry. It has expertise in over 118 countries and their 
approach to the business of mining is strongly grounded in economic 
principles. RPM operates offices in 18 locations across 12 countries. 
 
   Safe Harbour 
 
   This press release contains certain statements which may be deemed to be 
forward-looking statements.  These forward-looking statements are made 
as at the date of this press release and include, without limitation, 
statements regarding discussions of future plans, the realization, cost, 
timing and extent of mineral resource estimates, estimated future 
exploration expenditures, costs and timing of the development of new 
deposits, success of exploration activities, permitting time lines, and 
requirements for additional capital.  The words "plans", "expects", 
"budget", "scheduled", "estimate", "forecasts", "intend", "anticipate", 
"believe", "may", "will", or similar expressions or variations of such 
words are intended to identify forward-looking statements. 
Forward-looking statements are subject to known and unknown risks, 
uncertainties, assumptions and other factors that may cause actual 
results to vary materially from those expressed or implied by such 
forward-looking statements, including, but not limited to: the effects 
of general economic conditions; the price of gold, silver and copper; 
misjudgements in the course of preparing forward-looking statements; 
risks associated with international operations; the need for additional 
financing; risks inherent in exploration results; conclusions of 
economic evaluations; changes in project parameters; currency and 
commodity price fluctuations; title matters; environmental liability 
claims; unanticipated operational risks; accidents, labour disputes and 
other risks of the mining industry; delays in obtaining governmental 
approvals or in the completion of development or construction 
activities; political risk; and other risks and uncertainties described 
in the Company's annual financial statements for the most recently 
completed financial year which is available on the Company's website at 
www.marianaresources.com .  Although we believe that the expectations 
reflected in such forward-looking statements are based upon reasonable 
assumptions and have attempted to identify important factors that could 
cause actual results to differ materially from those contained in 
forward-looking statements, there may be other factors that cause 
results not to be as anticipated, estimated or intended.  There can be 
no assurance that such statements will prove to be accurate, as actual 
results and future events could differ materially from those anticipated 
in such forward-looking statements.  Accordingly, readers are cautioned 
not to place undue reliance on forward-looking statements.  We do not 
undertake to update any forward-looking statements, except in accordance 
with applicable securities laws. 
 
   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: Mariana Resources Ltd via Globenewswire 
 
   HUG#2023137 
 
 
  http://www.marianaresources.com/index.php 
 

(END) Dow Jones Newswires

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