Ariana Resources plc : Holding(s) in Company

 

 

11 September 2012
AIM: AAU

HOLDINGS IN COMPANY

Ariana Resources plc ("Ariana" or "the Company"), the gold exploration and development company focused on Turkey, was informed on 10 September 2012, by Webb Capital Asset Management Limited, that following a disposal of ordinary shares on 10 September 2012, its total holding is now 19,967,244 ordinary shares, ("the Shares") representing 6.40% of the voting rights.  The Shares are held in the SF Webb Capital Companies Gold Fund, a fund under the discretionary management of Webb Capital Asset Management Limited, on behalf of The Bank of New York (Nominees) Limited.

Contacts:

Ariana Resources plc	Tel: [phone]
Michael Spriggs, Chairman
Kerim Sener, Managing Director
Beaumont Cornish Limited	Tel: [phone]
Roland Cornish / Felicity Geidt
Fairfax I.S. PLC	Tel: [phone]
Ewan Leggat / Laura Littley
St Brides Media & Finance Ltd	Tel: [phone]
Hugo de Salis / Susie Geliher

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 ("Eldorado") in north-eastern Turkey. Eldorado owns 51% of this joint venture and is fully funding all exploration work on the JV properties, while Ariana owns 49% and is the operator.

The Company's flagship assets are its Sindirgi 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 of the Company stands at 448,000 ounces of gold equivalent.  

Ariana also has a strategic investment in Tigris Resources Limited (www.tigrisresources.com), a private Jersey-based exploration company, which is focused on the exploration of copper and gold deposits in southeastern Turkey.  Ariana retains 12.5% of Tigris Resources Limited.

Fairfax I.S. PLC is the Broker 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

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Source: Ariana Resources plc via Thomson Reuters ONE

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