[cid:image011.jpg@01CE5C3C.01659230] 29 May 2013 AIM: AAU ARZU CENTRAL EXPLORATION TARGET: RED RABBIT GOLD PROJECT Ariana Resources plc ("Ariana" or "the Company"), is pleased to announce the publication of an Exploration Target* at Arzu Central within the Kiziltepe Sector of its Red Rabbit Gold Project ("Red Rabbit") in Western Turkey.

Red Rabbit has a current total JORC Resource of 448,000 ounces of gold equivalent. Highlights:
* Exploration Target* of up to 92,000 oz Au and 1,100,000 oz Ag established at Arzu Central, indicating future potential to add to the resource base which could further increase the current mine life of 8 years and enhance mine economics at Kiziltepe.
* Drilling programme proposed to systematically test this area and to determine its potential to yield a resource capable of being mined by underground methods.
* Potential for further resource ounces to be delineated down-dip of known high-grade shoots.
* Exploration drilling plan to be executed during Kiziltepe mine construction in 2014. Dr.

Kerim Sener, Managing Director, commented: "Expanding the resource base at Red Rabbit is an important objective for the Company, and the definition of an Exploration Target of up to 92,000 oz Au and 1,100,000 oz Ag at Kiziltepe is an important step forward.

The Exploration Target at Arzu Central will focus future mine-scale exploration on the delivery of additional resources mineable by underground methods.

This is in addition to the open-pittable reserves already defined at Kiziltepe and would result in the expansion of mine life beyond eight years. "We are confident that a mineralised system is developed at Arzu Central based on a variety of geoscientific evidence.

Two drill holes completed last year demonstrated unequivocally that the Arzu Central vein system continues under cover beyond the planned pit limit at Arzu North and that there is a substantial improvement of grade in this direction.

These two holes intercepted mineralisation 50m further along strike than any previous drilling in this area and must be followed-up with further drill testing. "Drilling in 2012 also intercepted bonanza grades in an extension to the Derya vein beneath cover and this will also be a priority for further drilling.

It is also possible that the intersection point between the Arzu and Derya structures will host mineralisation, corresponding to a high resistivity and low chargeability zone in geophysics, and this will be specifically tested by at least one hole in the proposed drilling programme." * An Exploration Target is conceptual in nature and there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. Description of Arzu Central An area located between the current resource/reserve areas of Arzu South and Arzu North has been referred to by the Company as the "Gap Zone".

This area is characterised by a sequence of rhyodacitic ignimbrite, which overlies the dacitic ignimbrite hosting the majority of the mineralised quartz veins at Kiziltepe.

The Company has determined the age of formation of these rock units and of the gold mineralisation by Argon-Argon (Ar-Ar) radiometric dating and understands that the mineralisation slightly post-dates the volcanic host stratigraphy by perhaps half a million years.

This observation indicates that the vein-forming event occurred shortly after the volcanic rocks had been deposited and negates the possibility that the rhyodacitic ignimbrite is a true cover rock.

Instead it appears that the rhyodacite is a cap rock to the vein-forming event and that it failed to fracture in the same way as the underlying dacitic ignimbrite, most likely due to different mechanical properties, porosity and permeability. Detailed geological work in this area has shown that these upper sequence "cap" rocks are themselves silicified and clay altered in places, confirming that they are older than the mineralising event.

The alteration is most pronounced along the strike orientation of the structure that hosts both the Arzu South and Arzu North vein systems, demonstrating that the mineralising event influenced the rhyodacitic ignimbrite though not to the extent of forming discrete veins.

It is probable that mineralised structures are most well developed in the underlying dacitic ignimbrite because they were able to fracture more coherently and were therefore better at focusing fluid flow. At the small but geologically significant Aybor vein, which is located between the Arzu North and Derya vein systems, the vein is seen in outcrop to effectively terminate upwards where the rhyodacitic ignimbrite overlies the lower dacitic ignimbrite.

At the point of termination of the vein, extensive silicification, carrying very low gold grades, is seen in the overlying rhyodacitic ignimbrite.

This proves the theory that the vein systems are developed better in the underlying dacitic ignimbrite and that the rhyodacitic ignimbrite was not able to fracture as well. Geophysics programmes at Kiziltepe have shown significant anomalies in both resistivity and chargeability associated with vein and alteration zones (Figure 1), which occur along the strike of the Arzu and Derya structures beneath the cap rocks.

The anomalism is seen from depths of 40m to 100m to a maximum depth of 200m below surface and up to 700m of strike and intensifies towards the intersection point of the two structures.

This suggests the potential for further continuity of the vein systems beyond the areas drilled to date.

Ground magnetics (Figure 2) has also shown continuity of the Arzu structure beneath the cap rocks, paralleling the margins of a more magnetic zone. The Company has prepared a long-section showing the gold accumulation (the product of the gold grade in grams and the true width of the vein in metres) of the Arzu South and Arzu North vein systems based on existing drilling data, which shows the distribution of gold within the structure (Figure 3).

This section also shows the proposed drilling planned to systematically test the continuity of the Arzu Central area and the down-plunge continuity of high grade shoots at Arzu South and Arzu North. [cid:image012.jpg@01CE5C3C.01659230] Figure 1: Resistivity map superimposed on satellite imagery showing the currently defined open-pits and the zones to be tested by further drilling.

The resistivity anomalies are those calculated at 350m above sea-level, which corresponds to a depth of 40-100m below surface in the Arzu Central area.

Topographic contours are also shown as thin black lines. [cid:image013.jpg@01CE5C3C.01659230] Figure 2: Map of Total Magnetic Intensity (TMI) superimposed on satellite imagery showing the currently defined open-pits and the zones to be tested by further drilling.

The vein systems appear to have developed near the margins of more magnetic units and the Arzu Central structure can be seen trending NW between Arzu South and Arzu North. At the southern end of the currently planned Arzu North pit the Company drilled two holes in 2012 that intersected significant mineralisation containing high-grades (7.6m @ 5.24 g/t Au + 129.7 g/t Ag and 5.8m @ 3.81 g/t Au + 104.7 g/t Ag).

In addition to providing proof that the Arzu Central vein system is developed beneath the rhyodacitic ignimbrite cap rocks, these holes can be seen in the long-section (Figure 3) as providing for a high-grade zone beyond the currently planned Arzu North pit limits along strike and at depth.

As a priority, this area needs to be tested by further down-plunge drilling. The Derya vein, which appears to splay in to the overlying rhyodacitic ignimbrite, and gives rise to large silicified outcrops containing very low gold grades along strike to the east, was tested in the late 2011 drilling programme.

This drilling determined the potential for a buried vein system in the vicinity, which the Company named Emel.

Beyond the limits of the currently planned Derya pit, the company intersected bonanza grades (12.1m @ 13.1 g/t Au + 187.6 g/t Ag) in one hole and moderate grades in two others located approximately 25m further along strike to the east, demonstrating continuity of the vein system beneath the rhyodacitic ignimbrite in this location. [cid:image014.jpg@01CE5C3C.01659230] Figure 3: Long-section of gold gram x metres between Arzu South and Arzu North, showing the "Gap Zone", planned drilling and open-pit shapes.

The Arzu Central area is capped by a sequence of rhyodacitic ignimbrite and sits within an area of forestry (trees are not to scale). Exploration Target The Company has established an Exploration Target in the unexplored zone between Arzu South and Arzu North.

The potential quantity and grade is conceptual in nature and there has been insufficient exploration to estimate a Mineral Resource.

It is also uncertain if further exploration will result in the estimation of a Mineral Resource. Basis of the Exploration Target:
� 7,685.6m in 97 holes completed at Arzu South providing 94,252 oz Au and 1,124,878 oz Ag JORC Measured and Indicated resources over strike length of 715m.
� 1603.5m in 20 holes completed at Arzu North providing 21,358 oz Au and 372,129 oz Ag JORC Measured and Indicated resources over strike length of 355m. The average drill-hole spacing over these veins is 20m by 50m at Arzu South and 25m by 40m at Arzu North.

Drilling is dominantly by diamond core methods (some Reverse Circulation) with downhole sampling carried out on irregular downhole intervals that were later composited to 1m intervals. The Company considers this to be a high level of exploration activity and that the Exploration Target is based on actual exploration data.

Given a total resource of approximately 115,600 oz Au and 1,497,000 oz Ag over a drill-defined strike length of 1,070m, the Company has extrapolated the ounces per lineal metre into the unexplored zone that separates Arzu South and Arzu North which totals 700m.

Average grades have been determined from the average resource grades for each vein. The Exploration Target is estimated as: Tonnage (t) Element Grade (g/t) Contained Metal (oz) From To From To From To 595,000 617,000 Au 2.2 4.7 42,000 92,000 Ag 38.3 55.5 728,000 1,100,000
Shoots of higher-grade mineralisation are encountered at both Arzu South and Arzu North.

These shoots generally correspond to zones showing greater vein widths, suggesting that gold deposition was maximised at sites of greater structural dilation during the formation of the deposit.

There is also a marked periodicity in the spacing of higher-grade shoots (generally about 100 to 120m) and this is likely to be the consequence of the development of the en echelon segmentation of the vein array within the structural corridor hosting the mineralisation.

It is expected that a similar periodicity in the location of shoots would be present in the Arzu Central area. On average, there are approximately 15,000 oz of gold located within each high-grade shoot at Arzu South, although there is a large degree of variation in gold and silver content between individual shoots.

On this basis, and assuming that the same spacing of shoots continues along strike of Arzu South, there is the potential to identify perhaps six additional high-grade shoots in the Arzu Central area. The Company has also recently completed a detailed alteration study of the mineralisation at Arzu South and Arzu North, to better understand the styles of alteration and their association with gold grade.

This study demonstrated that there is a correlation between increasing kaolinite dominant alteration and proximity to mineralised zones.

In these areas kaolinite crystallinity also increases, though there is an immediate drop in crystallinity near the contact with highly silicified areas and vein material.

Associated with this is a decrease in the illite and smectite content of the alteration zone, which is especially pronounced in the vicinity of mineralised areas.

In addition, nacrite (related to dickite) is usually seen in association with the very highest grades observed at Kiziltepe.

The relationship of these alteration styles and in particular the association between kaolinite and nacrite to gold grade are an important exploration vectors.

Such vectors will be used to target future drilling at Kiziltepe. Drilling Plan An exploration drilling plan is established in two phases on the basis of the Exploration Target defined here, to systematically test the strike length of the Arzu Central vein system and to test the down plunge continuity of the known high-grade shoots of mineralisation at Arzu South and Arzu North (shown in figures 1, 2 and 3).

The complete drilling programme totals 7,515m for 39 holes and it is proposed that this drilling programme is completed by the Reverse Circulation drilling method.

Phase 1 for 2,065m will comprise primarily drilling in the Arzu Central zone and Phase 2 for 5,450m will comprise drill testing of down-plunge continuity at the Arzu North and Arzu South vein systems.

The Company expects to test the validity of the Exploration Target via this drilling programme during the period of mine construction in 2014. Contacts: Ariana Resources plc Tel: +44 (0) 20 7407 3616 Michael Spriggs, Chairman
Kerim Sener, Managing Director
Beaumont Cornish Limited Tel: +44 (0) 20 7628 3396 Roland Cornish / Felicity Geidt
Beaufort Securities Limited Tel: +44 (0) 20 7382 8387 Chris Rourke / Guy Wheatley
Loeb Aron & Company Ltd. Tel: +44 (0) 20 7628 1128 John Beresford-Peirse / Dr.

Frank Lucas
St Brides Media & Finance Ltd Tel: +44 (0) 20 7236 1177 Susie Geliher / Lottie Brocklehurst
Editors note: The information in this report that relates to Mineral Resources is based on information compiled by Mr.

Alfred Gillman of Odessa Resources Pty.

Ltd., who is a fellow of the Australasian Institute of Mining and Metallurgy.

Mr.

Gillman is a consultant to Ariana Resources plc and has sufficient experience relevant to the styles of mineralisation and type of deposit under consideration and to the subject matter of the report to qualify as Competent Person and defined in the 2012 edition of the Australasian Code for the Reporting of Exploration Results Mineral Resources and Ore Reserves (JORC Code).

Mr.

Gillman consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Dr Kerim Sener, BSc (Hons), MSc, PhD, is the Managing Director of Ariana Resources plc.

A graduate of the University of Southampton in Geology, he also holds a Masters degree from the Royal School of Mines (Imperial College, London) in Mineral Exploration and a doctorate from the University of Western Australia.

He is a Fellow of The Geological Society of London and has worked in geological research and mineral consultancy in Eastern Europe, Southern Africa and Australia.

He has read and approved the technical disclosure in this regulatory announcement.
About Ariana Resources: Ariana is an exploration and development company focused on epithermal gold-silver and porphyry copper-gold deposits in Turkey.

The Company is developing a portfolio of prospective licences selected on the basis of its in-house geological and remote-sensing database, on its own in western Turkey and in Joint Venture with Eldorado Gold Corporation in north-eastern Turkey.

Eldorado owns 51% of this joint venture and are fully funding all exploration work on the JV properties, while Ariana owns 49%.

The total resource inventory within this JV is 1.09 million ounces of gold. The Companys flagship assets are its Kiziltepe and Tavsan gold projects which form the Red Rabbit Gold Project.

Both contain a series of prospects, within two prolific mineralised districts in the Western Anatolian Volcanic and Extensional (WAVE) Province in western Turkey.

This Province hosts the largest operating gold mines in Turkey and remains highly prospective for new porphyry and epithermal deposit�s.

These core projects, which are separated by a distance of 75km, are presently being assessed as to their economic merits and now form part of a Joint Venture with Proccea Construction Co.

The total resource inventory at the Red Rabbit Project stands at 448,000 ounces of gold equivalent. Ariana also has a strategic investment in Tigris Resources Limited (www.tigrisresources.com), a private Jersey-based exploration company, which is focused on the exploration of copper and gold deposits in southeastern Turkey.

Ariana retains 11.5% of Tigris Resources Limited. Beaufort Securities Limited and Loeb Aron & Company Ltd.

are joint brokers to the Company and Beaumont Cornish Limited is the Companys Nominated Adviser. For further information on Ariana you are invited to visit the Companys website at www.arianaresources.com.
Glossary of Technical Terms "Ag" the chemical symbol for silver; "Au" the chemical symbol for gold; "g/t" grams per tonne; "Indicated resource" a part of a mineral resource for which tonnage, densities, shape, physical characteristics, grade and mineral content can be estimated with a reasonable level of confidence.

It is based on exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes.

The locations are too widely or inappropriately spaced to confirm geological and/or grade continuity but are spaced closely enough for continuity to be assumed; "JORC" the Joint Ore Reserves Committee; "JORC 2012" the JORC 2012 reporting code; "m" Metres; "Measured resource" a part of a mineral resource for which quantity, grade, densities, shape, and physical characteristics are estimated with confidence sufficient to allow the application of Modifying Factors to support detailed mine planning and final evaluation of the economic viability of the deposit.

It is based on detailed and reliable exploration, sampling and testing from locations such as outcrops, trenches, pits, workings and drill holes, and is sufficient to confirm geological and grade continuity between points of observation where data and samples are gathered; "oz" Ounces;
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