REG - Ariana Resources PLC - ISSUE OF SUBSCRIBER SHARES

Ariana ResourcesAnnouncement

31/03/2022 07:16

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RNS Number : 7328G  Ariana Resources PLC  31 March 2022

31 March 2022

AIM: AAU

ISSUE OF SUBSCRIBER SHARES

TOTAL VOTING RIGHTS

Further to the announcement of 24 March 2022, Ariana Resources plc ("Ariana"
or the "Company"), an AIM-listed mineral exploration and development company
with gold mining interests in Europe, is pleased to announce the issue of
46,185,387 new ordinary shares in the Company at 0.411 GBP per share (the
"Subscriber Shares").

The Subscriber Shares are being issued to Newmont Corporation ("Newmont") as
consideration for the investment by Newmont of US$2.5 million in Ariana as
announced.

Application is being made for the Subscriber Shares, which will rank pari
passu with all existing ordinary shares, to be admitted to trading on AIM
("Admission").  Admission is expected on or around 4 April 2022.

For the purposes of the Disclosure Guidance and Transparency Rules of the
Financial Conduct Authority ("FCA"), at Admission the Company's issued share
capital will consist of 1,142,863,330 ordinary shares with a nominal value of
0.1p each, with voting rights ("Ordinary Shares"). The Company does not hold
any Ordinary Shares in Treasury.  Therefore, the total number of Ordinary
Shares in the Company with voting rights is 1,142,863,330.

 

Contacts:

 

 Ariana Resources plc                     Tel: +44 (0) 20 3476 2080
 Michael de Villiers, Chairman
 Kerim Sener, Managing Director
 Beaumont Cornish Limited                 Tel: +44 (0) 20 7628 3396
 Roland Cornish / Felicity Geidt
 Panmure Gordon (UK) Limited              Tel: +44 (0) 20 7886 2500
 John Prior / Hugh Rich / Atholl Tweedie
 Yellow Jersey PR Limited                 Tel: +44 (0) 20 3004 9512
 Dominic Barretto / Henry Wilkinson       arianaresources@yellowjerseypr.com (mailto:arianaresources@yellowjerseypr.com)

Editors' Note:

About Western Tethyan Resources Ltd:

Western Tethyan Resources Ltd ("WTR") is a UK registered, Kosovo-domiciled
company holding exploration licence applications in Kosovo through its
100%-owned subsidiary Kosovo Mineral Resources LLC ("KMR").  The company is
currently focused on exploration for major copper-gold deposits in the Lecce
Magmatic Complex and Vardar Belt.  The company is assessing several other
exploration project opportunities across south-eastern Europe, targeting major
copper-gold deposits across the porphyry-epithermal transition.  It is the
intention of the company to progress to drill testing its projects within the
shortest possible timeframe.

Further information on WTR can be found at the company's website at:
www.westerntethyanresources.com (http://www.westerntethyanresources.com/)

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 February 2022). 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 222,000 ounces gold
and 3.8 million ounces silver (as at February 2022). 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 0.7
million ounces silver (as at June 2020). Following the approval of its
Environmental Impact Assessment, resulting permitting work is ongoing to
develop Tavsan as the second joint venture gold mining operation in Turkey. 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 owns 100% of Australia-registered Asgard Metals Fund ("Asgard"), as
part of the Company's proprietary Project Catalyst Strategy. The Fund is
focused on investments in high-value potential, discovery-stage mineral
exploration companies located across the Eastern Hemisphere and within easy
reach of Ariana's operational hubs in Australia, Turkey and the UK.

Ariana owns 75% of UK-registered Western Tethyan Resources Ltd ("WTR"), which
operates across south-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.  WTR is being funded
through a five-year Alliance Agrement with Newmont Corporation
(www.newmont.com).

Ariana owns 50% of UK-registered Venus Minerals Ltd ("Venus") which is focused
on the exploration and development of copper-gold assets in Cyprus which
contain a combined JORC Indicated and Inferred Resource of 17Mt @ 0.45% to
1.10% copper (excluding additional gold, silver and zinc), in addition to
pursuing a separate 50:50 JV on Hellenic Apliki Mines, which owns the Hellenic
SX-EW processing plant and 11Mt @ 0.25% to 0.69% Cu Apliki mine development
project.

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 (http://www.arianaresources.com) .

Ends.

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