[cid:image003.gif@01CBC8FB.EEE6CA00] AIM and PLUS code: MARL 10th February 2011
Update on exploration in Argentina Mariana Resources Ltd (Mariana or the Company), the AIM quoted exploration and development company focused in Chile and Argentina, provides an update on exploration activities across the Companys portfolio of gold-silver and copper projects in Argentina. Las Calandrias (Mariana 100%) Two diamond drilling rigs commenced drilling in the El Nido area at the beginning of 2011 and the first assay results are expected in the next few weeks.

El Nido is an area of highly prospective rhyolite domes west of the Calandria Sur and Calandria Norte gold-silver discoveries located in the eastern sector of the highly prospective Deseado Massif gold-silver province of Santa Cruz, southern Argentina. Los Amigos (Mariana 49%) Drilling results at the 13,455 hectares Los Amigos Joint Venture gold-silver project operated by Hochschild Mining plc indicate a high level low temperature epithermal system at the Gator target with economic potential at depth.
* All six holes intersected silicified and sulphide-bearing structures * Wide intervals of silicification, sulphide mineralisation, breccias and carbonate and quartz veining were intersected from 30m to 445m down hole. * Anomalous gold intersected in Hole LFD10-008, 23.4m @ 0.14 g/t Au from 110.5m and 5.5m @ 0.23 g/t Au from 177.5m * A programme of 30 line km.

of Induced Polarisation (IP) survey and mapping is planned, followed by 1,000m of drill testing targets. The Los Amigos Joint Venture area, is located in the western sector of the highly prospective Deseado Massif gold-silver province of Santa Cruz, southern Argentina. La Borita (Mariana can earn 100%) Mariana completed 1,785m in four steep holes with lengths between 250m and 650m.

The holes targeted an IP anomaly below copper-bearing travertine at surface.

None of the holes have encountered signs of copper mineralisation.

All holes remained in the sedimentary sequence with no intrusive body intercepted as postulated.

Mariana has decided not to continue with the option over the property. Santa Cruz JV (Mariana 70%, option over other 30%) During 2010 Mariana has conducted geophysical surveys at Sierra Blanca, centred on the Veta Chala target, comprising 8.6 sq km detailed ground magnetics, 2.3 sq km detailed gradient array IP and 1.4 sq km detailed 3D IP. The Sierra Blanca project is located in the central part of the highly prospective Deseado Massif gold-silver province of Santa Cruz, southern Argentina. In March 2011 the third drilling program consisting of at least 3,000m of diamond drilling is scheduled to commence, with the aims of extending the known mineralisation at Veta Chala laterally and at depth, aided by the detailed geophysical surveys; and scout drilling of geophysical, geological/structural and geochemical targets elsewhere on the property.
**ENDS** For further information please visit website at www.marianaresources.com or contact the following. John Horsburgh (Chairman) Mariana Resources Ltd +61 2 94374588 Glen Parson (CFO) Mariana Resources Ltd +612 94374588 Rob Adamson RFC Corporate Finance Limited (Nomad) +61 2 9250 0041 Will Souter RFC Corporate Finance Limited (Nomad) +61 2 9250 0050 Joe Lunn (Analyst) FinnCap (Broker) +44 20 7600 1658 Matthew Robinson FinnCap (Broker) +44 20 7600 1658 Felicity Edwards St Brides Media and Finance Ltd (PR) +44 20 7236 1177 Hugo de Salis St Brides Media and Finance Ltd (PR) +44 20 7236 1177
About Mariana Resources Mariana Resources Ltd is an AIM quoted exploration and development company with an extensive portfolio of gold, silver and copper projects in Argentina and Chile.

In Southern Argentina, in addition to the Las Calandrias gold-silver discovery, the Company has the Sierra Blanca silver-gold prospect (70%); the Los Amigos joint venture (49%) with Hochschild Mining and a 160,000 Ha land package (100%).

All of these projects are located in the Deseado Massif epithermal gold-silver district in mining-friendly Santa Cruz province of southern Argentina, which hosts four mines and several advanced projects. In Chile, Mariana has a joint venture with US based international mining and natural resources company Cliffs Natural Resources Inc., to explore for Iron Oxide-Copper-Gold deposits (IOCG) in a 92,000 km� area (SCM Mariana Area) in north-central Chile along the highly prospective Atacama Fault Zone.

The SCM Mariana Area includes the 44km� Buenaventura and 46km� Perro Chico IOCG projects.

Mariana is also evaluating a number of gold-silver and copper-gold opportunities away from the Cliffs JV area, as part of a new initiative.
Lottie Brocklehurst St Brides Media & Finance Ltd Chaucer House 38 Bow Lane London EC4M 9AY T: +44 (0) 207 236 1177 M: +44 (0) 7917 010 468 F: +44 (0) 207 236 1188 www.sbmf.co.uk