Directorship Changes
24 July 2013
AIM: AAU
Directorship Changes
Ariana Resources plc ("Ariana" or "the Company"), the gold exploration and development company focused on Turkey, announces that Michael Spriggs is stepping down as Executive Chairman, with immediate effect, to reduce his business commitments in line with his retirement. Current Non-Executive Director Michael de Villiers will assume the role of Executive Chairman.
Dr. Kerim Sener, Managing Director, commented:
"I would like to thank Michael Spriggs both personally and on behalf of Ariana's shareholders for his commitment and successful stewardship of the Company as Chairman. Michael has been a pivotal member of the Ariana team, supporting its growth as we transformed from an explorer to near-term gold producer in Turkey, and we wish him well in his retirement.
"I am also delighted that Michael de Villiers, who has been a Director since the Company's admission to AIM in 2005, has accepted the role of Executive Chairman. With a wealth of experience in the resource arena, and a proven track record in corporate development, I am confident that Michael will continue to be a hugely influential figure in Ariana's advancement into a gold production company."
Contacts:
| Ariana Resources plc | Tel: +44 (0)207 407 3616 |
| Michael de Villiers, Chairman | |
| Kerim Sener, Managing Director | |
| Beaumont Cornish Limited | Tel: +44 (0) 20 7628 3396 |
| Roland Cornish / Felicity Geidt | |
| Beaufort International Associates Limited | Tel: +44 (0) 20 7382 8387 |
| Chris Rourke / Guy Wheatley | |
| Loeb Aron & Company Ltd. | Tel: +44 (0) 20 7628 1128 |
| Frank Lucas/ John Beresford-Peirse | |
| St Brides Media & Finance Ltd | Tel: +44 (0) 20 7236 1177 |
| Lottie Brocklehurst / 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 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 south-eastern Turkey. Ariana retains 11.5% of Tigris Resources Limited.
Beaufort International Associates 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
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Ariana Resources plc via Thomson Reuters ONE
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