Dealings Commence

Ariana Resources PLC
28 July 2005


                               ARIANA RESOURCES PLC

                        ADMISSION TO AIM AND SHARE PLACING
                                DEALINGS COMMENCED

LONDON -28 July 2005- Ariana Resources plc ('Ariana' or 'the Company':AIM:AAU),
the gold exploration company focused exclusively on Turkey, announces,
following a successful fundraising, its admission to AIM and the commencement of
dealings in its Ordinary Shares. Beaumont Cornish and Ambrian Partners are the
Company's nominated adviser and broker respectively.

Highlights:

  * Focused on Turkey which is highly prospective and under explored
  * Applying a unique proprietary geological database, with 60% of Turkey
    analysed
  * Holding 61 licences covering approximately 1,000 sq km, with two advanced
    projects and over 100 targets

Steven Poulton, Chief Executive, stated:

'We have spent three years developing a comprehensive exploration database on
Turkey and have applied it to secure licences over the highest priority targets.
Our technology driven strategy is rapidly yielding exploration success, as
demonstrated by the discovery of the Kinik gold prospect. In a deal with Newmont
Mining Corporation in January 2005 we acquired the Sindirgi gold project, which
hosts over 45km of gold bearing epithermal quartz veins. Despite current market
conditions, we have raised the funds necessary to advance our portfolio of
properties and we would like to thank our investors for their confidence'.

Michael Spriggs, Chairman, commented:

'Turkey is a stable and attractive country in which to invest and explore. It
has a long history of metal mining and its geology, which remains largely under
explored, is highly prospective for the discovery of potentially world class
gold and copper-gold deposits. The successful move to AIM is a tribute to the
hard work of Ariana's team. We are delighted to welcome our new investors at an
exciting stage in the development of Ariana and look forward to working for all
shareholders to maintain the Company's strong momentum'.

About Ariana Resources plc

Ariana Resources plc is a dynamic exploration company focused on the discovery
of multi-million ounce potential epithermal and porphyry gold deposits within
the highly prospective Tethyan metallogenic belt of Turkey.


For further information on Ariana Resources plc you are invited to visit the
Company's website at www.arianaresources.com or contact one of the following:

Ariana Resources plc
Steven Poulton                                          Tel:    [phone]
[e-mail]                                Mobile: [phone]

Ambrian Partners Ltd
Richard Chase                                           Tel:    [phone]

Beaumont Cornish
Roland Cornish                                          Tel:    [phone]

Bankside Consultants
Michael Padley / Susan Scott                            Tel:    [phone]



PLACING STATISTICS

Placing Price                                                               12p
Existing Ordinary Shares                                            21,719,400
Number of Placing Shares                                             9,711,665
Enlarged Share Capital                                              31,431,065
Percentage of Enlarged Share Capital subject to the Placing               30.9%
Market Capitalisation of the Enlarged Ordinary Share Capital 
at the Placing Price                                                £3,771,728
Gross proceeds of the Placing and Subscription                      £1,165,400
Estimated net proceeds of the Placing receivable by the Company       £908,728


OVERVIEW

The Company is employing a dynamic exploration strategy with an emphasis on the
systematic application of remote-sensing technologies to generate, prioritise
and advance exploration targets.

The Ariana Group 'the Group':

  * is focused on gold exploration in Turkey
  * has a dynamic and technology-driven management team
  * is applying a unique in-house target database developed and refined since
    2002
  * has approximately 1,000 sq km of licences acquired to date, with two
    advanced projects
  * is seeking to discover multi-million ounce gold resources.

INTRODUCTION

The Company's operating subsidiary, Ariana Exploration & Development Ltd
('AEDL') was incorporated in 2002 for the purpose of exploring for, acquiring
and developing economic gold and other mineral deposits in Turkey. Since its
formation, AEDL has compiled a substantial, proprietary geological database on
Turkey, which it is employing in the search for epithermal vein and
porphyry-related gold deposits. Turkey offers highly prospective and
under-explored geology, a rapidly and positively evolving political landscape
and an increasingly sophisticated investment climate.

During the course of 2002-2003, AEDL constructed a detailed digital Geographical
Information System ('GIS') on Turkey, assimilating geological, mineral
occurrence, structural and mineral alteration data derived from open file
sources. This database, which is under constant expansion and refinement by the
Company, underpins Ariana's strategy of evaluating large volumes of geological,
geographic and satellite-acquired data, to generate a pipeline of exploration
targets for rapid field appraisal and development.

EXPLORATION AND MINING IN TURKEY

While legends and historical records indicate that mining has been taking place
in Turkey for over 8,000 years, little modern exploration for gold has been
undertaken, despite the country's significant geological potential.

Turkey is geologically complex and remains geothermally and tectonically active
today. Alpine deformation between the Eurasian and Arabian plates resulted in
the amalgamation of three major tectonic and metallogenic belts.

Newmont, Teck Cominco, BHP Billiton, Rio Tinto, Barrick and Eldorado Gold all
have direct or indirect interests in the country, as do an increasing number of
mid-tier and junior exploration companies. The Eldorado Gold-owned five million
ounce Kisladag gold deposit in Western Turkey is currently under development,
with initial production planned for late 2005. In the meantime Anatolia Minerals
is advancing the four million ounce resource at the Copler gold deposit in North
Eastern Turkey. Further encouragement for investment in the sector has been
provided by the introduction of a new mining law, implemented in 2004.

Foreign investment in the country is encouraged and has seen a rapid increase in
the last few years. GDP growth is in excess of 5 per cent. per annum, inflation
is down from 70 per cent. to single figures, the budget deficit has been cut by
40 per cent. to 11 per cent. and industrial output and productivity are
increasing rapidly.

Turkey:

  * is politically and economically stable
  * is a member of the European Customs Union
  * has a supportive mining legislation
  * is highly prospective and under explored
  * hosts significant recent gold discoveries

THE GROUP'S EXPLORATION STRATEGY

The Group has developed a comprehensive understanding of the key geological
parameters controlling the location of known gold mineralisation in Turkey. The
Directors consider that the optimal strategy for exploration success requires a
rolling sequence of regional targeting, licence acquisition and reconnaissance
exploration. This strategy aims to generate rapidly and efficiently a pipeline
of projects, which can be developed, based on their merits, from targets to
prospects through to defined resources. This systematic methodology has already
yielded exploration success, with the identification of the Kinik Gold Prospect.

Regional prioritisation is achieved through the simultaneous analysis of
multiple geoscientific datasets, developed and maintained in-house, with
integrated geological models for the occurrence of epithermal and
porphyry-related gold deposits. Regional targeting is achieved by prioritising
areas which exhibit key geological, structural and metallogenic attributes of
the chosen geological model. The Group has applied advanced satellite-borne
remote-sensing techniques, namely, Landsat and ASTER (Advanced Spaceborne
Thermal Emission and Reflection Radiometer) sensors to delineate areas
exhibiting potential gold-bearing hydrothermal alteration signatures. These
techniques enable the discrimination of areas containing clay and iron-oxide
minerals which are, in places, related to the hydrothermal alteration of the
host rocks. Such alteration is recognised as a diagnostic feature of the
deposits sought by the Company, and its identification by remote-sensing
provides a rapid, accurate and successful targeting methodology.

The Group employs its GIS database to guide the acquisition of new licences over
selected target areas, identified from the integration of geological and
remote-sensing data with areas of available ground for application. Geological
modelling is used to prioritise those areas which have the strongest indications
for potential gold systems. Areas containing targets that are already held by
other parties are noted and placed on a watch list and scheduled for negotiation
or for acquisition.

The methodical exploration strategy being employed by the Group is highly
efficient and cost-effective. The decision to 'develop or drop' exploration
licences can be made systematically and with great confidence.

Exploration risks are reduced as ground is assessed and turned over rapidly,
while the potential for exploration success is increased. The Company is focused
on generating and developing economic gold resources, and this is enhanced by
the Group's proven ability to generate drill targets from grassroots
opportunities.

In May 2003, AEDL sponsored a remote-sensing research project focused on Western
Turkey with Imperial College, London. The pilot study was successful in
verifying, independently, the location of hydrothermal alteration signatures
associated with several known gold occurrences and generating numerous new
anomalies. AEDL has extended the remote-sensing programme to cover a total of
approximately 420,000 sq km in prospective areas of Western and North Eastern
Turkey. Over 100 exploration targets have been identified to date and these have
been ranked in order of prospectivity by integrating the remote-sensing data
with the Group's GIS data.

During 2004, AEDL, through its 100 per cent. owned Turkish subsidiary Galata
Madencilik Sanayi ve Ticaret Limited irketi ('Galata'), acquired licences
covering an area approximately 210 sq km, mainly within the largely Miocene age
auriferous West Anatolian Volcanic and Extensional (WAVE) geological province of
Western Turkey. Initial exploration by AEDL has focused on the Ivrindi District,
which hosts the Kinik Gold Prospect. A reconnaissance channel sample along a
road cut at Kinik returned 48m of mineralisation, including higher grade zones
of 3.21 g/t over 10m, 3.09 g/t over 5m and 1.4 g/t over 13m. The Directors
consider that further exploration at Kinik is warranted, as supported by the
Competent Person's Report ('Competent Person's Report') prepared by SRK
Consulting Limited ('SRK').

In December 2004, AEDL completed a pre-IPO financing of £715,000 in order to
advance its existing projects, generate new targets and examine acquisition
opportunities. On 31 January 2005, AEDL (through Galata) acquired the Sindirgi
Gold Project and accompanying historical data from Newmont, for a total
consideration of US$400,000. Newmont retains a Net Smelter Return Royalty on the
Sindirgi Gold Project of 1.5 per cent., 2.0 per cent. and 2.5 per cent., based
on the price of gold trading below US$400, between US$400 and US$450 and above
US$450 per ounce respectively.

Since 2002, the Group has assembled 58 exploration licences and three operating
licences covering an area of approximately 1,000km.

GOLD PROJECTS

Sindirgi Gold Project - Purchased from Newmont Mining Corp.

The Sindirgi Gold Project comprises three operation and eight exploration
licences covering an area of approximately 235 sq km in the Sindirgi District of
Balikesir Province, Western Turkey. The area was originally targeted during the
Company's regional remote-sensing studies and was acquired in early 2005 from
Newmont Mining Corporation.

Since its discovery during a regional stream sampling programme in 1990,
exploration by previous owners on the project has comprised reconnaissance
exploration, geological mapping, rock-chip and soil sampling and drilling. Much
of this activity was concentrated in the early 1990s by Eurogold Madencilik A.S.
('Eurogold') and Tuprag Metal Madencilik San. ve Tic. Ltd. ti., an operating
subsidiary of Eldorado Gold Corporation ('Eldorado'), and most recently in the
early 2000s by Newmont. This has resulted in the discovery of five priority
prospect areas; Kiziltepe, Kepez, Karaduz, Kavakliduz and Kizilcukur (from south
west to north east), on which the Company will focus the majority of its initial
exploration efforts.

Over 45km of epithermal veins have been defined and a total of 4,379m of diamond
drilling has been completed on the Sindirgi Gold Project. Initial 3D modelling
by SRK from existing drilling on the southern portion (600m strike length) of
the Arzu Vein has outlined a geological model of 1.1Mt at an average grade of
4.2 g/t gold for 150,000 ounces (not yet in accordance with the JORC Code). The
Directors consider that the Sindirgi Gold Project area is situated in a highly
prospective region that has potential to host significant low-sulphidation
vein-hosted economic grade gold mineralisation. As such, the near term potential
for defining economic resources from several selective open pits, hosting
between 25,000 and 100,000 ounces each is worthy of investigation. SRK supports
this view and has confirmed that the prospects defined to date on Sindirgi
display characteristics of the upper parts of epithermal systems.

Sindirgi: Kiziltepe Gold Prospect
The Kiziltepe Gold Prospect is the most advanced prospect in the Sindirgi Gold
Project and is situated in the western side of the area.

Features of the Kiziltepe Gold Prospect are summarised as follows:

  * Approximately 20km of low-sulphidation epithermal quartz veins
  * Individual veins are exposed over 350 to 700m of strike length and width
    varies between 1m and 14m.
  * Geological model of 150,000 ounces determined from approximately 5 per
    cent. of the known vein system

The main veins trend north-west and north-north-west, and dip to the north-east.
Previous exploration includes stream-sediment sampling, mapping, rock-chip
sampling and drilling. The Competent Person's Report suggests the Arzu Vein has
a potential strike length of over 1.2km with gold grades between 3.32 g/t and
23.29 g/t, in drilling intersections above a 3 g/t cut off range between 1.2m at
3.8 g/t and 7.5m at 10.6 g/t.

Kiziltepe selected drill intercepts above 3 g/t cut off:
 Hole       Vein      From (m)    To (m)       Length (m)       Grade Au (g/t)
 KT01    Arzu South      51.95      63.00           11.06                 3.72
 KT02    Arzu South      63.40      67.20            3.70                 9.38
 KT03    Arzu South      76.30      86.40            9.95                 7.23
 KT06    Arzu South      35.40      49.50           13.97                 3.85
 KT16    Arzu North      79.10      83.40            4.35                 4.08
 RSC6    Arzu South      28.00      34.00            5.69                10.23
 RSC8    Arzu South      45.00      52.50            7.50                10.55

The Competent Person's Report includes an appraisal of the tonnage and grade of
the Arzu Vein. The extent of the vein in the south is well-defined by drilling
and a reasonable estimate of potential volume has been made in this sector. SRK
considered that, given the poor core recovery, considerable bias may exist in
the sample grades. SRK has produced a preliminary geological model for the
southern part of the Arzu Vein, from existing drilling results, of 150,000
ounces of gold (based on an average grade of 4.2 g/t, estimated density of 
2.5 t/m3, 600m of strike length, average vein width of 2-10m and a depth of 
between 100 and 200m). This does not constitute a Mineral Resource estimate for
JORC Code purposes.

The Group will undertake a scoping study for defining economic resources of
greater than 250,000 ounces on the Kiziltepe Vein system.

Sindirgi: Kepez Gold Prospect

  * Approximately 8km of low-sulphidation style epithermal quartz veins
  * Channel samples results include a 5m wide silicified zone, returning an
    average grade of 9.5 g/t Au to the east of historical workings

Sindirgi: Karaduz Gold Prospect

  * Approximately 4km of low-sulphidation style epithermal quartz veins
  * Rock-chip sampling over a zone of silicification returned a best value of
    2.5 g/t Au

Sindirgi: Kavakliduz Gold Prospect

  * Approximately 3km of low sulphidation style epithermal quartz veins
  * Reconnaissance rock-chip sampling returned several anomalous values up to
    3.5 g/t Au

Sindirgi: Kizilcukur Gold Prospect

  * Multiple parallel veins passing through the northern licence boundary
  * Little work has been carried out on the extensions of this system within
    the licence boundary

Sindirgi Gold Project: New targets

  * In February 2005, the Group commissioned Geosense Limited to undertake
    processing of ASTER data over the Sindirgi Gold Project
  * The study has generated many new targets, for both low- and
    high-sulphidation style alteration

Ivrindi Gold Project - Grassroots Discovery

The Ivrindi Gold Project contains the Kinik and Camavsar licences, covering an
area of 30km2 in Balikesir Province, Western Turkey. The licences were acquired
following delineation of Landsat remote-sensing alteration anomalies spanning
1.5km x 0.5km and 4km x 0.5km, respectively.

At the Kinik Gold Prospect, rock-chip sampling identified gold mineralisation
(up to 5.32g/t Au) along a fault zone between altered andesite and limestone.
Further rock-chips taken approximately 900m east-north-east from this area
returned anomalous gold (up to 1.39 g/t Au). A follow-up channel sample along a
road cut returned 48m of mineralisation, with higher grade sections of 3.21 g/t
over 10m, 3.09 g/t over 5m and 1.4 g/t over 13m (using a 0.5g/t Au cut-off) and
a peak grade of 10.42 g/t. The continuation of the alteration zone to the east
of the area channel sampled was determined by a series of composite rock-chips
samples which yielded grades ranging from 0.13 to 1.46 g/t Au. A pilot (13
samples) Mobile Metal Ion (MMI) soil geochemical survey was undertaken to the
west of the channel sample, and confirmed the strike continuation of the
mineralised zone in that direction.

To date, early stage reconnaissance exploration by the Group on the Camavsar
licence includes five stream sediment and 24 rock-chip samples yielding a peak
rock-chip of 0.12 g/t Au. The Directors consider that there is potential to
define economic mineralisation at Kinik through drilling and that further
discoveries are possible on both licences. These views are supported by the
Competent Person's Report.

Bergama Project

The Bergama Project hosts the Umit Tepe licence, covering approximately 12km2,
in Izmir Province, Western Turkey. The licence is situated in an area containing
a number of known gold occurrences. The Group has undertaken reconnaissance
geological mapping and first pass stream-sediment and rock-chip sampling. A peak
rock chip grade of 1.41 g/t Au was returned from a zone of skarn mineralisation
at Maden Tepe in the northeast sector of the licence. Further skarn bodies have
been identified in the central part of the licence. Results indicate that these
skarns are magnetite-marcasite-pyrite-chalcopyrite bearing, with iron values
exceeding 50 per cent., copper values up to 1 per cent. and silver values up to
23 g/t.

OTHER LICENCE AREAS

Canakkale Province
The Group has six exploration licences over an area totalling approximately
132km2 in Canakkale Province in North West Turkey. Two of these licences,
Cirpilar and Katrandai, are located in an area showing signs of epithermal
alteration within a fault-bounded block of Tertiary-age volcanic rocks. A
further two exploration licences have been acquired at Kosedere and Cinarpinar,
near the district seat of Ayvacik. These licences are located in Miocene dacitic
to rhyolitic volcanic and pyroclastic rocks adjacent to a late Miocene granitoid
and are located on areas showing strong hydrothermal alteration in proximity to
epithermal Cu, Pb and Zn mineralisation.

To the North of Canakkale the Yenice exploration licence is located in andesitic
porphyry. Porphyry-related gold deposits are situated to the immediate north of
the licence. The Ramazanlar exploration licence is located in Eocene andesitic
volcanic rocks. Field reconnaissance by the Group has located an area of
argillic alteration with minor quartz-barite veins.

Gumushane Province
In the North East of Turkey, the Group holds three contiguous exploration
licences (Akcakale, Cayragin Tepe and Uzunparmak Tepe) which are located in the
Gumushane Province. These licences cover an area of approximately 35km2 and are
located in part on the Gumushane intrusive and volcanic suite.

CURRENT TRADING AND FUTURE PROSPECTS

At present, the Company has no trading profits, as its principal activity is
exploration in Turkey through its operating subsidiary. The Directors believe
the areas in which the Company has selected to operate offer opportunities for
potential growth and enhancement of the Company's financial prospects. The
Directors intend to develop the Company by undertaking:

  * detailed evaluation of the Kiziltepe gold prospect in the Sindirgi Gold
    Project as part of a scoping study for defining economic resources;
  * systematic exploration of the Group's other prospects; and
  * continual generation of new prospects and opportunities.

Following Admission the Company will have paid up nominal share capital of
£314,310 and an estimated net cash balance of £908,728.

DIRECTORS AND STAFF

Directors

Michael Spriggs BA (Hons.) MA MSc (Non-Executive Chairman) aged 62. 
Michael has 35 years' mining sector experience having graduated from 
Oxford University with a BA (Hons.) in 1964 and an MA in 1968. He obtained an
MSc in Geology and Mineral Sciences from the University of Leicester in 1969. 
He worked for a number of major mining groups, including Anglo American, 
Falconbridge and Rio Tinto. Michael spent 11 years with the mining team of the 
UK investment bank SG Warburg (now UBS) from 1986-97. He was appointed 
Head of the South African Mining Equities Research Team and was subsequently 
appointed Director of Corporate Finance. In 1997 he was appointed a partner at 
College Hill, the UK public relations consultancy, as head of the Mining Team.
Michael is Non-executive Chairman of AIM listed Vane Minerals plc and 
Van Dieman Mines plc.
He is also a Member of The Institute of Materials, Minerals and Mining and a
Chartered Engineer.

Steven Poulton BSc (Hons.) MSc MCSM, (Chief Executive Officer) aged 29. Steven
Poulton graduated from the University of Southampton with an honours degree in
Geology and from the Camborne School of Mines with an MSc in Mining Geology.
Steven worked for AIM and TSX-V listed Mano River Resources Inc. as Operations
Manager and subsequently as Vice President Corporate Development. He is
non-executive Chairman of African Aura Resources Limited, a director of
Exploration Capital Limited and a director of KSPM Associates Limited. He is
also a Fellow of The Geological Society of London, a Member of The Institute of
Materials, Minerals and Mining and is a member of the UK Association of Mining
Analysts.

Matthew Grainger BSc (Hons.) MSc MCSM, (Operations Director) aged 31. Matthew
Grainger graduated with an honours degree in Earth Science and then completed a
master's degree at Camborne School of Mines in Mining Geology. He has worked in
Ireland and Spain as a project geologist with AIM listed Cambridge Mineral
Resources plc and has worked as an independent consultant of KSPM Associates
Limited for a number of clients engaged in mineral exploration and GIS. Matthew
is a director of KSPM Associates Limited and is also a Fellow of The Geological
Society of London and a member of the UK Association of Mining Analysts.

Kerim ener BSc (Hons.) MSc DIC PhD, (Exploration Director) aged 28. Kerim ener
graduated from the University of Southampton with a first-class honours degree
in Geology and from the Royal School of Mines (Imperial College, London) with an
MSc in Mineral Exploration. He went on to work for Independence Gold Mining Pvt.
Ltd (Lonmin Zimbabwe) as an independent consultant with KSPM Associates Ltd. He
then undertook a PhD at the University of Western Australia whilst working on a
number of consultancy projects in the Western Australian mining and exploration
industry, in addition to working directly with his PhD sponsor company, ASX
listed Northern Gold NL in the Northern Territory. He is a Fellow of The
Geological Society of London, a Member of The Institute of Materials, Minerals
and Mining and a member of the Society of Economic Geologists.

Michael Etheridge BSc (Hons.) PhD (Non-Executive Director) aged 58. Michael
(Mike) Etheridge has 34 years' experience in geological research and mineral
consultancy. He graduated from the University of Sydney with a first-class
honours degree in Geology and a PhD from the Australian National University. He
then lectured in Geology at the University of Adelaide and at Monash University
before becoming the Senior Principal Research Scientist for the Bureau of
Mineral Resources from 1982-1989. In 1991 he co-founded Etheridge & Henley
(later Etheridge, Henley, Williams) which then merged with SRK in 1997,
following which he served as a Director of SRK Global from 1998-2001 and as
Chairman (Australasia) from 1998-2004. His current directorships include AIM and
ASX listed Ballarat Goldfields NL and TSX-V listed Geoinformatics Exploration
Inc. Michael is also a Fellow of the Australian Institute of Geoscientists,
Fellow of the Australian Academy of Technological Sciences and Engineering and
Fellow of the Australian Institute of Company Directors.

Michael de Villiers B.Comm CFA (SA) (Non-Executive Director) aged 42
Michael de Villiers qualified as a Commercial and Financial Accountant with
Ernst & Young in Cape Town. Michael has 15 years' experience in the mining and
chemicals sectors which he gained as a financial manager working for mining and
chemicals operations in Namibia, Botswana, Ghana, Bulgaria and, over the last 5
years in the United Kingdom. He is currently Finance Director of AIM listed
Mercator Gold plc and was previously the Finance Director of Oxus Gold plc and
Navan Mining plc.

Staff

In addition to management input from the Directors of Ariana, the senior
management for Galata in Turkey includes:

  * Erhan ener (General Manager), a Turkish national with twenty years'
    experience in senior management, and responsible for general administration
    and community relations.


  * Uur Aydin (Office Manager), a Turkish national with seventeen years'
    experience in accounting and personnel management with Eldorado Gold in
    Turkey, and responsible for general office management and group accounting.


  * Galata also employs the services of akir Guzel (Licence Manager) a Turkish
    national with twenty-one years' experience in licence applications, renewals
    and reporting, in addition to four Turkish field geologists.


Ends



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