[cid:image004.png@01CEE5C1.335684C0] AIM: MARL 20 November 2013
Condor de Oro Copper-Gold Project Update, Peru: Broad zones of strongly anomalous gold and molybdenum intersected at Pucayacu target in first two holes Mariana Resources Ltd (‘Mariana’ or ‘the Company’), the AIM quoted exploration and development company focused in Peru and southern Argentina, announces positive initial results from scout drilling at Pucayacu target of the Condor de Oro copper-gold project (‘the Project’ or ‘Condor de Oro’), located along the prolific gold-copper Cordillera del Condor belt in Northern Peru (Fig 1). Highlights * First two holes indicate multiple mineralisation events, including porphyry-related copper-molybdenum and epithermal gold.

Mineralisation style ranges from disseminations, pyrite dominated sulphide veins, quartz-pyrite veins to quartz veins * Hole CDOYE-001 (282.3m) was strongly anomalous in gold with 62m @ 0.41 g/t Au from 0m (including 12m @ 0.85 g/t Au from 0m and 4m @ 0.97 g/t Au & 0.26% Cu from 47m), 5m @ 0.52 g/t Au from 201m and 8m @ 0.79 g/t Au & 0.10% Cu from 240m * Hole CDOYE-002 (152.8m) intersected significant molybdenum in quartz veins hosted by altered quartz felspar porphyry (QFP) from 81m to end of hole, with best intersections of 26.8m @ 110 ppm Mo, including 6.8m @ 170 ppm Mo from 126m * Scout drilling of large intrusive copper-gold system continues with three holes completed for 689m, assays received for two and the 4th hole underway (Fig 2, 3) * Objective of drilling is to discover (or provide vectors towards) late well-mineralised porphyries and/or breccias within this extensive 4km2 target area * The drilling programme is being undertaken by Exploraciones Aguila Dorada S.A.C.

(‘EAD’) and managed by Mariana Chief Executive Officer, Glen Parsons commented, “These first two results are very positive indicating multiple phases of mineralisation in this large intrusive, and are assisting us in understanding the geology of this exciting porphyry-related gold-copper-molybdenum system.

CDOYE-001 is strongly anomalous in gold and the CDOYE-002 is showing molybdenum and also copper steadily increasing downhole, as the histograms highlight .

Whilst the second hole had to be stopped short of the target with drill rods stuck because of a fault zone, results indicate that it may have been closing in on a more intensely mineralised zone.

Drilling of the third hole from the same platform is now complete with core being logged before sampling, in preparation for assay.

The rig has now moved to test the southern border and I look forward to reporting on further assay results as we develop our model and seek to vector into prospective zones at Condor de Oro.” Links to figures 1-5: http://www.marianaresources.com/pdf/release/Mariana_131119.pdf Drilling Results Summary CDOYE-001 (Fig 4) The first hole was drilled bearing 320° at an inclination-65º to 282.3m to target anomalous surface gold geochemistry and a magnetic high (Figs 2, 3).

It was strongly anomalous in gold with the first 62m averaging 0.41 g/t Au, including 12m @ 0.85 g/t Au from 0m (fractured andesite with abundant iron oxides). A deeper hornfelsed contact between the quartz feldspar porphyry (QFP) and andesite/ metasediments was gold-anomalous with 8m @ 0.79g/t Au from 240m.

As reported in Mariana’s news release on 31/10/13, no significant copper mineralisation was visible in the core but two anomalous zones were intersected: 11m @ 0.12% Cu from 47m (copper oxides) and 4m @ 0.18% Cu from 99m (minor chalcopyrite/bornite veinlets).

Variable propylitic and phyllic altered QFP was intersected to 240m and hornfelsed andesite/metasediments to 282.3m.

Pyrite (1-5%) is present as disseminations and veinlets throughout. Table 1 – Summary CDOYE-001 From (m) To (m) Interval (m) Au (g/t) Cu (%) 0 62 62 0.41
Including
0 12 12 0.85
47 51 4 0.97 0.26 72 84 12 0.20
98 109 11 0.20 0.10 194 208 14 0.30
Including
201 206 5 0.52
236 248 12 0.6
Including
240 248 8 0.79 0.10
CDOYE-002 (Fig:5) The second hole was drilled bearing 320° at an inclination of 60º, 550m N of CDOYE-001 to test a coincident magnetic low and anomalous AuCuMo surface geochemistry (Figs 2, 3).

Variably altered QFP (potassic, phyllic and propylitic) was intersected with iron oxides as disseminations and in fractures to 64m and minor quartz-molybdenite veinlets, disseminated pyrite-chalcopyrite-molybdenite and thin quartz-pyrite-chalcopyrite veinlets from 64m to end of hole.

CDOYE-002 was abandoned after hitting a fault zone (section of drill rods and core barrel dropped and unable to be retrieved), 200m short of target depth however the increasing copper and molybdenum content down-hole witnessed (see histograms, Fig 5) together with more intense potassic alteration than in CDOYE-001, may be a vector to an intrusive centre to the north which would be a priority target in any follow up drilling. Table 2 – Summary CDOYE-002 From (m) To (m) Interval (m) Mo ppm Cu ppm 81 89 8 83 334 97 102 5 73 400 105 112 7 61 308 126 152.8 26.8 110 567 Including
146 152.8 6.8 170 571
CDOYE-003 and CDOYE-004 CDOYE-003 was drilled to 252.8m from same pad as CDOYE-002, but in a westerly direction, to test anomalous gold, copper and molybdenum geochemistry (Figs 2,3).

Moderately altered QFP was intersected (propylitic from 74m to 154m, lower zone of illite-chlorite from 154m).

Iron oxides were common to 54m (approximately 1-6%) with minor disseminated/veinlet pyrite, quartz-molybdenite, quartz-pyrite-molybdenite and quartz-pyrite-chalcopyrite from 60m to end of hole.

Sampling and assaying will follow core logging (in progress). Meanwhile, CDOYE-004 has commenced, 1.2km SW of CDOYE-001, testing anomalous Cu and Au geochemistry close to the contact of intrusive QFP with andesites. Drilling Programme The 4km2 target area potentially hosts a large gold-copper system related to porphyritic intrusions.

Previous exploration has located gold and multi-element geochemical anomalies along drainages and ridges coincident with hydrothermally altered quartz-feldspar porphyries and prominent magnetic lows.

Outcropping mineralisation consists of limonite, pyrite and copper sulphides as disseminations, veinlets and stockworks. EAD will complete at least 5 diamond holes of approximately 250-300m each to test mineralisation at various locations within the target intrusive centre and more peripheral zones. Hole parameters may vary as the geological understanding of this extensive target area develops during the programme through ongoing field mapping and as the drilling advances. Links to figure 1-5: http://www.marianaresources.com/pdf/release/Mariana_131119.pdf ADDITIONAL INFORMATION Qualified Person The information in this release has been reviewed by John Horsburgh who is a Fellow of the Australasian Institute of Mining and Metallurgy.

Mr Horsburgh holds a B.Sc in Mining Geology and an M.Sc in Applied Geophysics from the Royal School of Mines, Imperial College, London and has over 40 years experience in mineral exploration and project development worldwide. Quality Assurance/Quality Control All technical information for the CDO project is obtained and reported under a quality assurance and quality control (QA/QC) program.


Samples are shipped to and assayed by the ALS Chemex Laboratory in Lima, Peru, a laboratory whose quality control system complies with International Standards ISO 9001:2000 and ISO 17025:2005.

A four-acid digestion with 33 element ICP-AES analysis is conducted on all samples, with silver, lead and zinc being re-analyzed with atomic absorption spectrometry method when analyzing over the ICP limits.

Gold is assayed using a fire assay with an atomic absorption spectrometry finish.

Systematic assaying of sample duplicates and commercially prepared standards and blanks is performed for analytical reliability.

A secure chain of custody is maintained in transporting and storing of all samples. Background The 102 sq km Condor de Oro project in northern Peru consists of two separate areas: the 34 sq km Pucayacu (Area 1) in the south-west of the Project, and the 68 sq km Yuracyacu target which lies northeast of Pucayacu.

In September 2013 EAD received Ministerial approval for initiation of Exploration Activities, including up to 20 drill holes, on three of EAD’s twelve concessions at the Condor de Oro project comprising Area 1.

Condor Resources Inc.

(‘Condor’) has an option to acquire 85% of the issued shares of EAD, and in turn, Condor has granted Mariana an option to acquire 60% of Condor’s interest, being an overall 51% interest.

Mariana is required to complete a minimum 1,500m of drilling on Area 1 before 31 January 2013. Drill contractor Energold is utilising a portable diamond drill rig, which is expected to complete 30-40 m of HQ core per day under normal operating conditions.

Assay results will be released in batches.

Completion of drilling is anticipated around the middle of December with final assays to follow. The initial drilling programme at Pucayacu is being undertaken by EAD and managed by Mariana. **ENDS** For further information please visit website at www.marianaresources.com or contact the following. In Australia:
John Horsburgh (Chairman) Mariana Resources Ltd +61 2 9437 4588 Glen Parsons (CEO) Mariana Resources Ltd +61 2 9437 4588 Rob Adamson RFC Ambrian Limited (Nomad) +61 2 9250 0041 Will Souter RFC Ambrian Limited (Nomad) +61 2 9250 0050 In U.K.
Jonathan Williams RFC Ambrian Limited (UK Broker) +44 20 3440 6817 Felicity Edwards St Brides Media and Finance Ltd (PR) +44 20 7236 1177 In Canada:
Kathryn Witter Mariana Resources Ltd (Vancouver Office) +1 604 669 9336
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 South America.

In Peru, Mariana has an option to earn a 51% interest in highly prospective copper-gold and copper silver porphyry targets in the Cordillera del Condor of northern Peru as well as an option to earn a 70% interest in the Soledad copper-gold and silver project in Central Peru.

In southern Argentina, the Companys core gold-silver projects are Las Calandrias (100%), Sierra Blanca (100%), Los Cisnes (100%), Bozal (100%) and Los Amigos JV (30%).

These projects are part of a 200,000+ Ha land package in the Deseado Massif epithermal gold-silver district in mining-friendly Santa Cruz Province.
Safe Harbour This press release contains certain statements which may be deemed to be forward-looking statements.

These forward-looking statements are made as at the date of this press release and include, without limitation, statements regarding discussions of future plans, the realization, cost, timing and extent of mineral resource estimates, estimated future exploration expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, and requirements for additional capital.

The words “plans”, “expects”, “budget”, “scheduled”, “estimate”, “forecasts”, “intend”, “anticipate”, “believe”, “may”, “will”, or similar expressions or variations of such words are intended to identify forward‑looking statements.

Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results to vary materially from those expressed or implied by such forward-looking statements, including, but not limited to: the effects of general economic conditions; the price of gold, silver and copper; misjudgements in the course of preparing forward-looking statements; risks associated with international operations; the need for additional financing; risks inherent in exploration results; conclusions of economic evaluations; changes in project parameters; currency and commodity price fluctuations; title matters; environmental liability claims; unanticipated operational risks; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or in the completion of development or construction activities; political risk; and other risks and uncertainties described in the Company’s annual financial statements for the most recently completed financial year which is available on the Company’s website at www.marianaresources.com .

Although we believe that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.

There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking statements.

Accordingly, readers are cautioned not to place undue reliance on forward-looking statements.

We do not undertake to update any forward-looking statements, except in accordance with applicable securities laws.
[cid:image002.png@01CECBDD.61F8A860] Lottie Brocklehurst St Brides Media & Finance Ltd 3 St Michael’s Alley, London, EC3V 9DS www.stbridesmedia.co.uk Tel: 0207 236 1177 | Mob: 07917010468 | Twitter: @StBrides1