Ariana Resources (AUU)

Ariana Resources (AUU)

Ariana Resources (AUU) - Final Results for the Year Ended 31st December 2007

Ariana Resources plc, the gold exploration and development company focused on Turkey, announces its final results for the period ended 31st December 2007.

???? Transition from early stage explorer completed
???? Current resource base 300,000 oz gold equivalent; updated resource estimate scheduled
???? Positive drilling results from Arzu North and South, and Banu
???? £973,068 fundraising in September

Post Period Events:
???? Definitive agreement to acquire Tavsan gold project, May 2008
???? JV with European Goldfields covering north-eastern Turkey, May 2008
???? £928,551 raised at 5p from European Goldfields
???? Mining options study at Kiziltepe examining the economic potential

Michael Spriggs, Chairman, commented:
“The year was one of further progress and we remain committed to delivering value via a robust, cost efficient and focused exploration and development strategy. The drilling programme has been successful and we expect to issue a revised resource estimate shortly.
“Post period we completed two corporate transactions that will help transform the Company and move it further towards it becoming a producer, as well as strengthening both the Board and the Balance Sheet.
“On the basis of the resources outlined and the predicted potential of the licence areas, we are confident that through its own exploration programme and via acquisition; our target of establishing a 1 million ounce resource is achievable in western Turkey. We look towards further exciting developments in 2008.”

The report and accounts for this period will be posted to shareholders and will be available on the website:

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