4 September 2008
AIM / PLUS Markets: AAU
ARIANA RESOURCES plc
TAVSAN LICENCES UPDATE
Ariana Resources plc ("Ariana" or "the Company"), the gold
exploration and development company focused on Turkey, is pleased to
announce that further to the transfer of five operating and one
exploration licence from Odyssey Resources Limited ("Odyssey"), as
announced on 19 August 2008, it has issued 2,400,000 new Ordinary
Shares on 22 August 2008, of the 3,000,000 Ordinary Shares held in
escrow, to Odyssey as consideration for these transfers, in
accordance with the terms of the Definitive Agreement with Odyssey as
announced on 13 May 2008.
Application will be made for the new ordinary shares which will rank,
pari passu, with all existing ordinary shares to be admitted to
trading on AIM and trading is expected to commence on 10 September
2008.
The Company's enlarged Ordinary Shares in issue following this share
issue will be 92,255,078 Ordinary Shares.
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
Alexander David Securities Limited Tel: 020 7448 9800
Nick Bealer / David Scott
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. 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
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