Mariana Resources*-MARL.L-(10.25p)
The drill results, released this morning from the companys wholly-owned Calandria South exploration project in Patagonia, Argentina, build on the outstanding results from the first hole released on 19 October.

Of the remaining 7 drill holes, all of which intersected wide zones of gold silver mineralisation, the highlight for us is hole CSD15, which returned 91.5m at 1.6g/t gold from 3.5m below surface.

This is in addition to the initial hole which returned 102m at 1.2 g/t gold from 7.5m.

With mineralisation starting so close to surface, these results strongly suggest to us that Mariana Resources has made an economic gold discovery with bulk tonnage potential.

Going forward, the company intends to commission a geophysical survey on the remaining 1,100 metres of strike length to optimise future drill targets.

This survey is planned to start in January with the results of follow up drilling complete during Q1.

What is significant about this discovery is that this style of gold rich mineralisation is new to previously held understanding on gold deposit formation in this region of Patagonia. Mariana Resources will likely be the main beneficiary of this as it is the largest holder of exploration ground in this region.

The company has a pre-existing agreement with Hochschild Mining which allows Hochschild the right of first offer on this, and any other exploration project that Mariana Resources wholly-owns.

The agreement also allows the company to draw $750K from Hochschild, in return for shares, at any time up until the end of November.

We think that Mariana Resources has made an exceptional gold discovery in Patagonia and that the shares will perform well over the next 6 months as news flow reveals more information as to its potential size and economic viability.

Joe Lunn Mining Analyst FinnCapp
Mariana Resources Ltd / Epic: MARL / Market: AIM / Sector: Gold Mining 28 October 2009 Mariana Resources Ltd (Mariana Resources or the Company) Confirms Gold-Silver Discovery at the Dos Calandrias Project Argentina
Mariana Resources Ltd, the AIM quoted exploration and development company focussed in Argentina and Chile, is pleased to announce a significant new gold-silver discovery at its 100% owned Dos Calandrias Project (Dos Calandrias) located in the prospective Deseado Massif region in southern Argentina.

The discovery was confirmed following results from the first eight holes of a 16 hole diamond drilling programme at the Calandria Sur prospect.


Overview * Best intersection from the Calandria Sur prospect of 91.5m @ 1.6 g/t gold (Au) and 17 g/t silver (Ag) from 3.5m, including 21m @ 4.5 g/t Au and 39 g/t Ag from 40m * Results from all holes demonstrate wide intersections of gold and silver mineralisation open at depth and laterally * Grades and nature of the orebody indicate bulk tonnage potential * Follow-up 3,000m drilling programme planned for early 2010 to define the projects economic potential
Mariana Resources Managing Director John Sutcliffe said, "These exceptional results represent an exciting new gold-silver discovery at Dos Calandrias, indicating its development into a major mineralised system with bulk tonnage gold potential.

This is the first mineralisation of its type to be found in the Patagonia region, and we believe it is comparable with a number of gold systems worldwide.

We are planning a major follow-up exploration programme, which will include additional geochemistry, geophysics, step-out drilling, deeper testing of the known mineralisation, and scout drilling of the remaining prospective hydrothermally brecciated rhyolite dome perimeter.
"The potential uplift in value that Dos Calandrias presents through an economic discovery is significant.

It is therefore the Companys intention to fast track the project through resource definition drilling."
Calandria Sur Drill Results
To date, the Company has undertaken a 16 hole diamond drilling programme at Dos Calandrias targeting both the Calandria Sur and Calandria Norte prospects of which eight holes were undertaken at the Calandria Sur target totalling 883m.

Preliminary results for hole CSD13 at Calandria Sur together with the eight Calandria Norte drill holes were released previously on 19 October 2009.


The table of results from Calandria Sur below demonstrates wide intersections of gold and silver mineralisation in holes CSD 9, 12, 13, 15 and 16.

Mineralisation is open at depth and laterally.
Hole From To Core length Gold Silver (m) (m) (m) (g/t) (g/t) CSD09* 22.5 77.3 54.8 0.8 10 Incl 67.3 75.3 8.0 1.9 13 CSD10** 38.9 99.9 61.0 0.2 4 Incl 38.9 44.9 6.0 1.1 10 CSD11 No significant results, hole remained in wallrock
CSD12* 19.3 24.9 5.6 1.9 25 And 45.5 89.5 44.0 0.6 6 CSD13** 7.0 109.0 102.0 1.2 17 Incl 89.0 109.0 20.0 2.6 39 CSD14 47.0 100.1 53.1 0.2 2 CSD15 3.5 95.0 91.5 1.6 17 Incl 49.0 70.0 21.0 4.5 39 Incl 51.0 53.0 2.0 28.4 154 CSD16 23.0 94.0 71.0 1.1 23 Incl 61.0 90.0 29.0 1.8 35 * Sampling commences and ends in mineralisation ** Sampling ends in mineralisation Notes: (1) Weighted average values are uncut (2) A total of 145m of additional drill core sampling and assaying spread over five holes is yet to be completed (3) The above drill intercepts are considered to represent approximate true widths
Consultants on-site evaluation
Management and Directors recently accompanied leading geological consultant and epithermal specialist Dr.

Richard Sillitoe, on a two-day site visit to appraise the significance of the Dos Calandrias drilling results.

Results conclude that the Calandria Sur prospect is a low-sulphidation epithermal discovery located along the margin of an extensively hydrothermally brecciated rhyolite dome (HBD).

The mineralisation appears to possess bulk tonnage potential in being disseminated and not reliant upon identifiable veins.


Dr.

Sillitoe has provided the following summary of his preliminary findings - illustrative material and his full report will be available shortly at www.marianaresources.com
Calandria Sur
* Shallow level epithermal gold-silver mineralisation of low-sulphidation at Calandria Sur occurs in a pervasively HBD
* The prospect is the first example of bulk tonnage gold-silver mineralisation hosted in a dome-related hydrothermal breccia to be discovered to date in the Jurassic epithermal precious metal province of Patagonia.
* Drilling results to date strongly indicate that the gold-silver mineralisation has a grossly annular, steeply inward dipping form controlled by the contact between the HBD and country rocks.

There is a strong suggestion that the highest grade mineralisation terminates upwards some 10m to 20m beneath the current surface, thereby raising the possibility of concealed mineralisation elsewhere around the HBD perimeter.
* Highest gold grade intercepts to date abut the HBD contact and are hosted by pervasively silicified breccia overprinted by a marcasite-pyrite stockwork.
* Current first pass drilling has preliminarily tested approximately 400m of the 1,500m mapped HBD perimeter.


* This drilling has shown that the highest grade gold-silver mineralisation remains open below a vertical depth of approximately 100m.
* Geological reconstruction of the HBD shows that the better drill intercepts, ranging from 50m-100m, approximate the interpreted true thicknesses (within 20%).
* Follow-up drilling will aim to undercut the current holes, which are spaced 40m-100m apart, as well as test lag geochemical anomalies around the remaining HBD perimeter.

Lag sampling around the perimeter will be in-filled and extended to better define targets.

A minimum 2,500m-3,000m drill programme is recommended.


* Given the close observed association between the highest gold and silver values and the marcasite-pyrite stockwork, consideration is being given to conducting an Induced polarisation chargeability-resistivity survey.
Calandria Norte
* Shallow drill testing of the two mapped veins did not intersect high gold and silver values so at least one deeper hole needs to be drilled to test for any downward changes that might indicate approach to an ore-bearing epithermal environment.
Project Infrastructure
The Deseado Massif region in southern Argentina has excellent infrastructure.

Dos Calandrias has a paved national highway passing within 20 km and is serviced by Caleta Olivia, located 150 km to the north-east of the project and one of the most important ports in the Santa Cruz province.

Electric power is at a distance of approximately 60 km and a national gas pipeline runs 15 km east of the project.


**ENDS**
See website www.marianaresources.com for accompanying diagrams.
Ray Angus (UK) Mariana Resources Plc Tel +61 4 00042630 John Horsburgh (Chairman) Mariana Resources Plc Tel +61 2 94374588 John Sutcliffe (MD) Mariana Resources Plc Tel +593 99 808080 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 +44 20 7236 1177 Hugo De Salis St Brides Media and Finance Ltd +44 20 7236 1177
Additional Information Drilling was undertaken by Boart Longyear Argentina.

The drill programme was managed by the Argentina Exploration Manager, Dr Gustavo A.

Rodriguez under supervision of Managing Director Mr John Sutcliffe. Exploration information in this announcement has been compiled by Mr Sutcliffe who is a Fellow of the Geological Society of London, a Chartered Engineer and a Member of the Institute of Mining and Metallurgy.

Mr Sutcliffe has sufficient experience relevant to the style of mineralisation and types of gold deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the JORC Code. Sampling and Analytical Details All diamond drill core samples are split on geological contacts with minimum and maximum sample length of 0.4 and 2.1 metres respectively and represent sawn half HQ-size core. The programme consisted of 768 samples, (including certified control standards, quarter core duplicates and blanks).

All the samples are collected under the supervision of the Company geologists.

During the sample handling procedure, the sample shipments are tracked.

Core samples were placed into uniquely labelled sample bags.

A record of the sample location and other specific details is documented in the sample data base.

All samples were sent to ALS Chemex Labs with preparation facilities in Mendoza and assayed in Chile for gold and multi element ICP analyses. Rock sample preparation includes weighing, drying, fine crushing of entire sample to better than 70%-2mm, split of 250g and pulverise split to better than 85% passing 75 microns (PREP-31- DRY-22).

The 34 element ME ICP41 package analyses utilise an aqua regia digestion.

Gold analyses for all samples are fire assay and AAS (Au-AA24, 50g nominal sample weight, range 0.005-10 ppm) with any results over 10g/t checked using a gravimetric finish (Au-GRA22-50g , range 0.05- 1.000 g/t).

Silver grades exceeding 100 g/t were assayed by fire assay and gravimetric finish (Ag-GRA21, 30g nominal sample weight, range 5-10,000 ppm).

ALS Chemes quality system complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025: 1999 Quality Assurance/Quality Control All technical information for the Companys Argentina projects is obtained and reported under a quality assurance and quality control (QA/QC) programme.

Four different certified standards were inserted at an average of one per 21 samples, blanks (in house) at one per 40 samples, while quarter-core duplicates were inserted at intervals of approximately 45 samples.

A total of 9% control samples have been inserted.

Assays that meet the QA/QC are incorporated in the Mariana data base.
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