“Exceptionally positive results continue to be generated for Mariana Resources” Glen Parsons CEO

Mariana Resources LON:MARL Chief Executive Officer, Glen Parsons, today commented: “Exceptionally positive results continue to be generated from the ongoing drilling at Hot Maden. Infill drilling in the Main Zone has once again delivered Hot Maden’s best hole to date, with the significant bonanza grades in HTD-71 of 69.6 m @ 62.7 g/t Au + 2.68% Cu from 210m downhole, including an impressive initial 7m at 526 g/t Au and 3.28% Cu, which  further highlights the continuity of the ultra high grade gold-copper zone.  These infill holes are effectively spaced on 25 m centres and have been designed to both increase confidence in the reported mineral resource estimate, as well as for the acquisition of geotechnical data for the ongoing mine development studies.

“Encouragingly, drilling at the current southern limit of the Main Zone resource area has also intercepted what appears to be either a deep extension or an offset to the Main Zone. The importance of this discovery is that we now see the potential to extend the Main Zone mineral resource to the south.

“Further exploration drilling in the Southern Discovery Zone, located immediately to the north of the Old Russian Mining Zone, has also delivered strong mineralisation from sulphide quartz veins and breccias which will ultimately add to the current initial inferred resource for this area. Exploration drilling successfully continues to work closer to, and into, the known mineralised Russian Zone further to the south.

“Technical studies related to mine development are ongoing, and the work completed will be incorporated into both the Preliminary Economic Assessment (“PEA”) and Pre-Feasibility Studies (“PFS”) accordingly.

I look forward to updating the market on the anticipated PEA results which are now expected around the end of November, along with the further pending assays and ongoing drilling activities.”

Results are reported for a total of 13 infill and extension drill holes (HTD-63 to HTD-74 and HTD-76), with drill log data provided for a further 7 holes (HTD-75 and HTD-77 to HTD-82) for which assays are pending. The infill drilling in the Main Zone resource area has been focused on two new section lines (4,542,225N and 4,542,125N), and forms part of a program designed to uniformally reduce drill hole spacings to 25m x 25m and to provide detailed geotechnical data for mine development studies. New resource drilling focused on both the “Ridge” area (southern limit of the Main Zone resource) and the southern veinfield discovery (Figures 1 & 2).

Highlights:

• The highest grade gold-copper (Au-Cu) intercept to date from Hot Maden has been returned from initial drilling along two new infill cross sections (4,542,125N and 4,542,225N; Figures 3 & 4). This infill drilling also successfully continues to confirm the internal continuity of gold-copper mineralisation within the Main Zone resource area. Best results include:

Infill Section 4,542,125N
HTD-71:                69.6 m @ 62.7 g/t Au + 2.68% Cu from 210m downhole.
This mineralised zone includes the following subintervals:
210-217m: 7m @ 526 g/t Au + 3.28% Cu (“Ultra high grade zone”)
217-231m: 14m @ 27.7 g/t Au + 3.38% Cu (“High grade zone”)
231-279.6m: 48.6m @ 1.7 g/t Au + 2.39% (“Low grade zone”)

Infill Section 4,542,225N
HTD-70:                63m @ 8.3 g/t Au + 1.65% Cu from 218m downhole.
                                Including5m @ 35.6 g/t Au + 1.46% Cu from 225m downhole.

HTD-72:                34.5m @ 19.4 g/t Au + 1.31% Cu from 180.5m downhole.
Including3.0m @ 54.4 g/t Au + 1.30% Cu from 192m downhole.

HTD-77:                Step forward hole to HTD-72 which intersected 43.5m of massive sulphide mineralisation from 96.0m downhole and 41.5m of multiphase suphide-bearing breccia from 139.5m downhole. Assays are pending.

• The potential for the discovery of a deep (>250m), possibly fault offset block of Main Zone-type mineralisation beneath the “Ridge” area (southern limit of the Main Zone resource; Figure 5) has increased with the successful intersection of high grade gold(-copper) mineralisation at depth in two holes, HTD-69 and HTD-76. Host rocks to this mineralization are brecciated andesites – similar to the host rocks in the Main Zone resource – which lie immediately to the east of the dominant dacitic breccias.  Key results returned include:

HTD-69:                7m @ 19.7 g/t Au + 2.1% Cu from 351m downhole.

HTD-76:                33m @ 1.4 g/t Au + 0.99% Cu from 357m downhole, and
                                11m @ 6.1 g/t Au + 0.97% Cu from 443m downhole.

• Further encouraging assays continue to be returned from discovery drilling in the southern veinfield. Highlights include: 2m @ 29.2 g/t Au + 0.40% Cu in HTD-73  (110-112m), 1m @ 13.8 g/t Au + 0.90% Cu and 15.5m @ 4.6 g/t Au + 0.42% Cu in HTD-63 (13-14m and 78-93.5m, respectively), and 7.5m @ 4.6 g/t Au in HTD-66 (115-122.5m).

* Note – all intersections quoted are as metres downhole.

Links to Figures:  
http://media.wix.com/ugd/24ee23_ddd13ed751ef489a9a524ae26043eaa0.pdf

Hot Maden Gold-Copper Project Update

Recent drilling activities at the Hot Maden project have dominantly focused on:

• Drilling on 25m centres along two infill drill sections, 4,542,125N and 4,542,225N;

• Deeper “step out” drilling to the east in the so-called “Ridge” area, which is located at the current southern limit of the Main Zone resource;
• Scout drilling of the Southern Vein Field (the northern extension of the area mined by Russian interests pre-1923). No significant work has yet been undertaken in the area of the former Russian Mining Zone.

Main Resource Area – Infill Drilling

Drilling commenced on 25-m centres along two infill cross sections, 4,542,125N and 4,542,225N, within the Main Zone resource area, with the program being designed to confirm the internal continuity of the high grade gold-copper mineralisation. On section 4,542,125N (Figure 4), exceptionally high grade gold-copper mineralisation was intersected in hole HTD-71 (69.6 m @ 62.7 g/t Au + 2.68% Cu from 210m downhole), with the “Ultra high grade” and “High grade” zones along the eastern margin of the mineralised zone returning impressive values of 7m @ 526 g/t Au + 3.28% Cu and 14m @ 3.38% Cu, respectively. Mineralisation is hosted within multiphase, chalcopyrite-pyrite-hematite-jasper-bearing breccias.  A step-back hole to HTD-71 (HTD-82) has also just been completed and has also intersected significant intervals of multiphase, sulphide-bearing breccia; however, results are pending.

Four drill holes were also completed along infill section 4,542,225N (Figure 3), with results having been received for two of these holes, 63m @ 8.3 g/t Au + 1.65% Cu from 218m downhole in HTD-70, and34.5m @ 19.4 g/t Au + 1.31% Cu from 180.5m downhole in HTD-72. The high grade gold-copper mineralisation is associated with multiphase, chalcopyrite-pyrite-hematite-jasper-bearing breccias. A step-forward hole (HTD-77) successfully intersected both 43.5m of massive sulphide (pyrite-chalcopyrite from 96m downhole) and 41.5m of multiphase sulphide-bearing breccia (from 139.5m downhole), whilst the step back hole to HTD-70 (HTD-75) also intersected significant intervals of multiphase, sulphide bearing breccia; results for both of these holes are pending.

Main Resource Area – Extension Drilling (“Ridge” Area)

Two new drill holes were completed in the “Ridge” area, located at the southern limit of the Main Zone resource; Figure 5), and successfullly intersected high grade gold(-copper) mineralisation at depth in brecciated andesites that lie immediately to the east of the dominant dacitic breccias. Significant results include:  7m @ 19.7 g/t Au + 2.1% Cu from 351m downhole in HTD-69, and 33m @ 1.4 g/t Au + 0.99% Cu from 357m downhole and 11m @ 6.1 g/t Au + 0.97% Cu from 443m downhole in HTD-76. The high grade mineralisation in both HTD-69 and HTD-76 is andesite-hosted and is associated with multiphase, sulphide-bearing breccias (similar to that of the Main Zone resource), and thereby differs greatly from the shallow, dacite-hosted mineralisation drilled to date in the Ridge area. These intercepts have raised the possibility of encountering a block of fault offset, Main Zone-type mineralisation to the east of the existing drilling, and this hypothesis will be tested as a priority in future drilling.

Sourthern Vein Field /HTD 27 Area

Scout drilling continues in the Southern target area (the northern extension of the area mined by Russian interests prior to 1923) with encouraging values continuing to be returned from quartz-sulphide veinlet/breccia zones hosted in dacitic breccias and volcanic rocks. Highlights from the current drilling include: 2m @ 29.2 g/t Au + 0.40% Cu in HTD-73 (110-112m), 1m @ 13.8 g/t Au + 0.90% Cu and 15.5m @ 4.6 g/t Au + 0.42% Cu in HTD-63 (13-14m and 78-93.5m, respectively), and 7.5m @ 4.6 g/t Au in HTD-66 (115-122.5m).

Assays results from the current reporting period were delayed as a result of the detailed geotechnical logging of holes required for the Hot Maden development (PEA and PFS) studies. Exploration activities were also temporarily suspended during the periods July 1-11 and September 9-19 in observance of the national Ramadan and Bayram holidays.

Table 1: Summary of assays for drill holes HTD-63 to HTD-74 and HTD-76, plus sulphide-bearing intercepts in drill holes HTD-75 and HTD-77 to HTD-82 (Cross Sections listed from North to South)

Quality Control and Assurance

Mineralised intervals presented in Table 1 are drill intersection widths and may not represent true widths of mineralisation. Drill core obtained from the diamond drill program was dominantly HQ-sized core with the remainder being PQ-sized core. All drill core was photographed and quick logged prior to sampling. Standard sampling protocol involved the halving of all drill core and sampling over generally 1m intervals (in clearly mineralised sections) or 2 m intervals (elsewhere), with one half of the core being placed in a sealed sample bag and dispatched to the analytical laboratory for analysis. Samples have been analysed at ALS Laboratories’ facility in Izmir, western Turkey. All samples have been analysed for gold using a 30g Fire Assay with AAS finish (or Screen Fire Assay for higher grade samples), in addition to a 32 element ICP-AES analysis of an aqua regia digest.  Samples in which ICP analyses returned greater than the maximum detection limit for the elements Ag (10 ppm), Cu (10,000 ppm), Fe (15%), Pb (10,000 ppm), and Zn (10,000 ppm) were reanalysed using the AAS analytical technique, Standards and blanks were inserted in to the analytical sequence on the basis of one standard for every 20 samples, 2 blanks in every batch, and one duplicate every 40 samples.

Health, Safety, and Environment (HSE)

No HSE incidents have been reported during the current diamond drill program.

Hot Maden drill holes – technical data

Technical data relating to Hot Maden drill holes HTD-63 to HTD-82 are given in the following tables.

Main Resource Area – Extension and Infill Drilling

Southern Discovery / Southern Vein Field