Ariana Regulatory News (AAU)

13 July 2021

AIM: AAU

DISCOVERY FUND LAUNCHED

Ariana Resources plc ("Ariana" or "the Company"), the AIM-listed exploration and development company operating in Europe, is pleased to announce the launch of its wholly-owned Asgard Metals Fund ("the Fund"), which is being developed as part of Ariana's proprietary Project Catalyst Strategy. The Fund will be focused on investments in discovery-stage mineral exploration companies following defined exploration and development work programmes on specific projects.

Highlights:

· Asgard Metals Pty. Ltd., the wholly-owned Australian subsidiary of Ariana, intends to invest an initial A$2 million, primarily into listed exploration companies with projects that meet its rigorous selection criteria.

· Investments will be focused on potentially high-value discovery-stage opportunities, which show early development potential.

· Projects may be located anywhere across the Eastern Hemisphere and within easy reach of Ariana's operational hubs in Australia, Turkey and the UK.

· Exploration projects will be selected on the basis of merit, taking into account geological prospectivity, exploration upside, jurisdiction and delivery capability of the project owner.

· Selected projects will receive an initial investment of up to c. A$500,000 in capital and will receive expert assistance from the Ariana team.

· Participating companies will have the opportunity of working with Ariana's first-class exploration team, which has demonstrated its success across multiple jurisdictions.

· Investments are designed to be timed optimally for maximum value accretion over a near-term investment horizon.

Dr. Kerim Sener, Managing Director, commented:

"We are launching the Discovery Fund in order to support the early-stage exploration of high-quality exploration opportunities, which show the potential for value creation over the near-term. This launch is in line with our long-term ambition to represent the cutting-edge of the mineral exploration and development sector internationally. It builds on our earlier and highly successful strategy of making early-stage exploration investments in gold and lithium assets across several non-European jurisdictions, which now provides the financial basis of the Fund. The strategy is also fundamentally rooted in our lengthy and successful experience operating within Turkey; recognising the value in collaborative local partnerships and not being averse to holding minority interests in good projects, led by great teams.

"We bring access to a highly capable and fully self-sufficient exploration team, able to deploy rapidly a full spectrum of geoscientific capabilities to unlock nascent value. The cash generative capacity of our joint venture operations gives us the means to take enhanced positions in worthwhile project opportunities, as we are doing separately in Cyprus and Kosovo. Following several years of significant under-investment across the junior exploration sector, we are taking a major-company approach to the funding and development of exploration projects to the benefit of our project partners, and ultimately, our shareholders."

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").

Contacts:

Editors' Note:

About Ariana Resources:

Ariana is an AIM-listed mineral exploration and development company with an exceptional track-record of creating value for its shareholders through its interests in active mining projects and investments in exploration companies. Its current interests include gold production in Turkey and copper-gold exploration and development projects in Cyprus and Kosovo.

The Company holds 23.5% interest in Zenit Madencilik San. ve Tic. A.S. a joint venture with Ozaltin Holding A.S. and Proccea Construction Co. in Turkey which contains a depleted total of c. 2.1 million ounces of gold and other metals (as at July 2020). The joint venture comprises the Kiziltepe Mine and the Tavsan and Salinbas projects.

The Kiziltepe Gold-Silver Mine is located in western Turkey and contains a depleted JORC Measured, Indicated and Inferred Resource of 227,000 ounces gold and 0.7 million ounces silver (as at April 2020). The mine has been in profitable production since 2017 and is expected to produce at a rate of c.20,000 ounces of gold per annum to at least the mid-2020s. A Net Smelter Return ("NSR") royalty of 2.5% on production is being paid to Franco-Nevada Corporation.

The Tavsan Gold Project is located in western Turkey and contains a JORC Measured, Indicated and Inferred Resource of 253,000 ounces gold and 3.7 million ounces silver (as at June 2020). The project is being progressed through permitting and an Environmental Impact Assessment, with the intention of developing the site to become the second joint venture gold mining operation. A NSR royalty of up to 2% on future production is payable to Sandstorm Gold.

The Salinbas Gold Project is located in north-eastern Turkey and contains a JORC Measured, Indicated and Inferred Resource of 1.5 million ounces of gold (as at July 2020). It is located within the multi-million ounce Artvin Goldfield, which contains the "Hot Gold Corridor" comprising several significant gold-copper projects including the 4 million ounce Hot Maden project, which lies 16km to the south of Salinbas. A NSR royalty of up to 2% on future production is payable to Eldorado Gold Corporation.

Ariana is currently earning-in to 75% of Western Tethyan Resources Ltd ("WTR"), which operates across Eastern Europe and is based in Pristina, Republic of Kosovo. The company is targeting its exploration on major copper-gold deposits across the porphyry-epithermal transition.

Ariana is also earning-in to 50% of UK-registered Venus Minerals Ltd ("Venus") and has to date earned into an entitlement to 26%. Venus is focused on the exploration and development of copper-gold assets in Cyprus which contain a combined JORC Inferred Resource of 9.5Mt @ 0.65% copper (excluding additional gold, silver and zinc).

Panmure Gordon (UK) Limited is broker to the Company and Beaumont Cornish Limited is the Company's Nominated Adviser and Broker.

For further information on Ariana you are invited to visit the Company's website at www.arianaresources.com.

Ends.