Drilling Rig and Team

9 July 2008 AIM / PLUS Markets: AAU ARIANA RESOURCES plc DRILLING RIG AND TEAM Ariana Resources plc ("Ariana" or "the Company"), the gold exploration and development company focused on Turkey, is pleased to announce the initiation of drilling at the Kiziltepe project using its newly acquired Sandvik DE130 diamond drill rig. Highlights * High production, low cost drilling, circa US$ 65 per metre drilled * Capability for exploration drilling on demand over the Company's projects * New drilling programmes to commence in August Dr. Kerim Sener, Managing Director, commented: "The Company is expecting to start its 2008 drilling programme in August with its newly acquired drill rig. Drilling during 2008 and early 2009 will be designed to further test previously drilled veins and to explore veins that remain un-drilled elsewhere on the Kiziltepe prospect and in the wider Sindirgi project area. Drilling will also be initiated on the Tavsan deposit with the aim of defining a larger resource. "This is an exciting time in the development of the Company, as we continue to build on our capabilities as one of the leading operators in Turkey. The addition of our own drilling team has greatly enhanced the flexibility of the Company to drill on demand at any time of the year." Drill Rig Ariana's Turkish operating subsidiary, Galata Madencilik San. ve Tic. Ltd. Sti., recently took delivery of a Sandvik DE 130 diamond drilling rig from its manufacturer in Sweden. This is the first drill rig to be operated in-house by the Company and used during our upcoming exploration and resource drilling campaigns. The Sandvik DE130 was selected by the Company for its ease of use and training as well as its simple hydraulic system, which will result in lower down-time and maintenance costs. The rig also uses the metric wire-line system, which is unique for its light weight, enabling deeper holes to be drilled than the comparable Q wire-line system. Between August 2006 and March 2008, through a contract drilling company, Ariana drilled over 11,000 meters of HQ diamond and Reverse Circulation drill holes, costing an average of US$ 145 per metre drilled (inclusive of all direct drilling costs apart from site preparation and assays). It is expected that our own team will achieve total drilling costs of US$ 65 per metre drilled of HQ-equivalent sized core. This provides the Company with a high degree of competitive advantage. Drilling Team An in-house drilling team has been recruited, consisting of two drillers, a drilling geologist and two off-siders. The core team received preliminary training using a similar drill-rig on an operating base-metal mine in Turkey for a period of two weeks in June. This included operational experience on the rig type, health and safety, core handling, and drilling performance reporting. The training was followed by five days of additional and specific training by an expert driller provided by Sandvik. As part of this training, and to test the machinery, an initial 23.8m deep drill hole was drilled on Vein 2 at the Kiziltepe prospect, intersecting a 1.34m thick quartz vein at a depth of 20.7m. Please see the link at the end of this announcement for Figure 1 which shows the first training hole being drilled with the new rig. Training of the drilling team will continue in July before the planned drilling programmes start in August. Contacts: Ariana Resources plc Tel: 020 7407 3616 Michael Spriggs, Chairman Kerim Sener, Managing Director Beaumont Cornish Limited Tel: 020 7628 3396 Roland Cornish Lothbury Financial Tel: 020 7011 9411 Michael Padley / Louise Davis Loeb Aron & Company Ltd Tel: 020 7628 1128 Peter Freeman / Frank Lucas City Capital Corporation Limited Tel: 020 7842 5867 Charles Dampney Alexander David Securities Limited Tel: 020 7448 9800 Nick Bealer / David Scott Editors' note: About the Kiziltepe prospect The Kiziltepe prospect is located within a ten-year renewable operating licence that forms part of the Company's 100% owned Sindirgi gold project in Balikesir Province, western Turkey. Kiziltepe lies approximately 100km east of the one million ounce vein-hosted Ovacik gold mine and 115km northwest of the five million ounce Kisladag gold mine. The prospect hosts over 20km in strike length of gold-silver bearing low-sulphidation epithermal quartz veins across an area of at least 3km by 1km. Individual veins are exposed for up to 750m and widths vary between 1m and 14m. The main veins trend northwest, dip to the northeast and are hosted within Miocene age dacitic volcanic rocks. Ariana acquired the Sindirgi Gold Project from Newmont Mining Corporation (NYSE & ASX: NEM; TSX: NMC) in March 2005. Franco-Nevada Corporation retains the right to a royalty of up to 2.5% on future gold production from the Sindirgi gold project. Ahead of commencing the drilling programme, Ariana obtained all necessary environmental and forestry approvals from the provincial government in Balikesir and the State Government in Ankara. 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 exploring a portfolio of prospective licences selected on the basis of its in-house remote-sensing database. The Company's flagship asset is the Sindirgi Gold Project, which targets a series of prospects, within a prolific mineralised district in western Turkey. The project hosts over 45km of gold-silver bearing epithermal quartz veins. This project is presently being assessed as to its economic merits. Loeb Aron & Company Ltd., City Capital Corporation Limited and Alexander David Securities Limited 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 ---END OF MESSAGE--- http://hugin.info/138153/R/1234543/262972.pdf
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