ARIANA RESOURCES PLC

Director's Dealing • Feb 21, 2020

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RNS Number : 8173D

Ariana Resources PLC

21 February 2020

21 February 2020

AIM: AAU

Director/PDMR Shareholdings

Ariana Resources plc ("Ariana" or "the Company"), the exploration and development company operating in Turkey, announces that it was informed today of the following transactions:

-     Michael de Villiers, Chairman, purchased 333,333 ordinary shares in the Company ("Ordinary Shares") in his SIPP at 3.533 pence per share;

-     and at the same time Mr de Villiers, via his wholly owned company Lucky Villa Holdings Limited, sold 33,333 Ordinary Shares at 3.435 pence per share; and

-     he also sold 300,000 Ordinary Shares at 3.345 pence per share.

Accordingly, the holding of Mr de Villiers remains at 54,845,000 Ordinary Shares in the Company, representing a holding of 5.17%.

The following information relating to the transaction has been filed with the FCA in accordance with Article 19(1) of the Market Abuse Regulation,

Michael de Villiers

1

Details of  the  person  discharging  managerial  responsibilities  /  person  closely associated

a)

Name

Michael de Villiers

2

Reason for notification

a)

Position / status

Chairman

b)

Initial notification

/Amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Ariana Resources plc

b)

LEI

213800LVVY7GZY21LH22

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description  of  the financial instrument, type of instrument

Identification code

Ordinary shares of 0.1 pence each in Ariana Resources plc

ISIN GB00B085SD50

Nature of the transaction

Purchase and sales of ordinary shares

c)

Price(s) and volumes(s)

Price(s) - purchase	Volumes(s)
3.533 pence	333,333
Price(s) - sle	Volumes(s)
3.435 pence	33,333
Price(s)	Volumes(s)
3.345 pence	300,000

d)

Aggregated information

n/a

e)

Date of the transaction

21 February 2020

f)

Place of the transaction

LSE, AIM (XLON) and XOFF

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Contacts:

Ariana Resources plc	Tel: +44 (0) 20 7407 3616
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
Atholl Tweedie / James Stearns
Yellow Jersey PR Limited	Tel: +44 (0) 20 3004 9512
Dom Barretto / Joe Burgess / Henry Wilkinson	arianaresources@yellowjerseypr.com

Editors' Note

About Ariana Resources:

Ariana is an AIM-listed mineral exploration and development company operating in Europe.  It has interests in gold production in Turkey and copper-gold assets in Cyprus.  The Company is developing a portfolio of prospective licences in Turkey, which contain a total of 1.6 million ounces of gold and other metals (as at end-2017). 

The Red Rabbit Project is comprised of the Company's flagship assets, the Kiziltepe and Tavsan gold projects, and is part of a 50:50 Joint Venture with Proccea Construction Co.  Both assets are located in western Turkey, which hosts some of the largest operating gold mines in the country and remains highly prospective for new porphyry and epithermal deposits.  The Kiziltepe Sector of the Red Rabbit Project is fully permitted and is currently in production.  The total resource inventory at the Project and its wider area is c. 605,000 ounces of gold equivalent (as at end-2017).  At Kiziltepe a Net Smelter Return ("NSR") royalty of up to 2.5% on production is payable to Franco-Nevada Corporation. At Tavsan an NSR royalty of up to 2% on future production is payable to Sandstorm Gold.

The 100% owned Salinbas Gold Project is located in north-eastern Turkey and has a total resource inventory of c. 1 million ounces of gold equivalent.  The project comprises three notable licence areas: Salinbas, Ardala and Hizarliyayla, all of which are located within a multi-million ounce Artvin Goldfield.  The "Hot Gold Corridor" contains several significant gold-copper projects including the 4Moz Hot Maden project, which lies 16km to the south of Salinbas and 7km south of Hizarliyayla.  A NSR royalty of up to 2% on future production is payable to Eldorado Gold Corporation on the Salinbas Gold Project.

Ariana is also earning-in to 50% of UK-registered Venus Minerals Ltd ("Venus").  Venus is focused on the exploration and development of copper-gold assets in Cyprus.

Panmure Gordon (UK) Limited are broker 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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