Eastern Turkey update

Ariana Resources PLC 31 October 2006 31 October 2006 AIM: AAU MEMORANDUM OF UNDERSTANDING SIGNED IN EASTERN TURKEY Ariana Resources plc ('Ariana' or 'the Company'), the gold exploration company focused exclusively on Turkey, announces that its wholly owned Turkish operating subsidiary Galata Madencilik San. ve Tic. Ltd. Sti. ('Galata') has signed a Memorandum of Understanding ('MoU') with Besler Insaat Turizm ve Madencilik San. ve Tic. Ltd. Sti. ('Besler') in eastern Turkey. •MoU provides Ariana with an experienced local partner in highly prospective eastern Turkey •Exploration campaign to commence in 2007 •Royalty payments to be made on commercial production Besler operate chromite mines in the Erzurum region of eastern Turkey and also hold a number of additional exploration licences. These additional licences will be transferred to Galata for inclusion in the Company's exploration programme in 2007. A number of these licences have been visited by Ariana's field teams and show encouraging potential for epithermal and skarn-related gold and copper mineralisation. The MoU provides for the payment of a royalty on the production of gold, silver, copper, molybdenum, lead and zinc within a designated Area of Interest. The royalty payable by Ariana to Besler will be 1.25% for licences selected by Ariana and 2.5% for licences previously held by Besler. Steven Poulton, Chief Executive, commented: 'This deal illustrates Ariana's strategy of applying to maximum effect our in country know-how to develop strong local partnerships. The agreement represents an excellent opportunity for the two companies to use their combined expertise to unlock the potential for significant gold and copper-gold discoveries within the highly prospective and under explored metallogenic belts of eastern Turkey.' Contacts: Ariana Resources plc Steven Poulton, Chief Executive Tel: 01235 511 767 s.j.poulton@arianaresources.cominfo@arianaresources.com Mobile: 0797 408 6712 Bankside Consultants Michael Padley / Susan Scott Tel: 020 7367 8888 About Ariana Resources Ariana is a dynamic exploration company focused on the discovery of epithermal gold-silver and porphyry copper-gold deposits with multi-million ounce potential within the Tethyan metallogenic belt of Turkey. The Company has a portfolio of prospective licences covering 1,755km2, selected on the basis of its advanced in-house remote sensing database. Ariana's broker is Ambrian Partners Limited 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. This information is provided by RNS The company news service from the London Stock Exchange
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