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9/1/2015 Mariana Resources Ltd : High Grade Gold-Copper... | FE InvestEgate

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Mariana Resources Ltd

Mariana Resources Ltd : High Grade Gold-Copper...

AIM: MARL

1 September 2015

Suite 102, 3 Eden StreetNorth Sydney, NSW 2060

Australia

High Grade Gold-Copper Mineralisation Extends Outside the Reported Mineral Resource at Hot MadenProject, Turkey

Mariana Resources Ltd ("Mariana" or the "Company") (AIM:MARL) reports further high grade gold-copper (Au-Cu)intercepts from ongoing drilling at the Hot Maden Project, north east Turkey. Following the initial mineral resourceestimate published by Mariana on the 18th August 2015 further new complementary assays (Figure 2) have beenreceived from JV partner Lidya Madencilik Sanayi ve Ticarte S.A. ("Lidya") for three drill holes (HTD-18, HTD-20, andHTD-22) (Figure 3,4 & 6) which extend known Au-Cu mineralisation both down-dip and to the north. Assays are alsoreported for two exploration holes (HTD-19 and HTD-21), the first drill testing of the southern extension of the HotMaden system. Highlights from the 5 drill holes include:

Resource Extension Drilling:HTD-18: 108.2m @ 3.0 g/t Au + 1.3% Cu from 292.0m downhole Including12m @ 6.4 g/t Au + 2.8% Cu (330.0m - 342.0m)and 9m @ 12.4 g/t Au + 0.8% Cu (384.0m - 393.0m) HTD-20: 88.5m @ 1.8 g/t Au + 2.3% Cu+ 1.9% Zn from 1.5m downhole Including3.5m @ 12.5 g/t Au + 5.7% Cu (48.5m - 52.0m)HTD-22: 43.8m @ 7.7 g/t Au + 1.2% Cu from 342.2m downhole Including 13.8m @ 23.3 g/t Au + 1.6% Cu (98.0 - 114.0m)

Exploration Drilling (Southern Area - Hot Maden Fault Zone)HTD-19: 12.1m @ 2.1 g/t Au + 0.7% Cu from 209.3 m downhole, and 36m @ 4.3% Zn and 13.3m @ 7.75%Zn from 271.0 m and 312.0m downhole, respectively.HTD-21: 64.1m @ 0.8 g/t Au + 0.3% Cu+ 140ppm Mo from 103.4m downhole Including 0.8m @ 9.6 g/t Au+ 0.4% Cu (157.9m - 158.7m). Chief Executive Officer Glen Parsons today commented:

"Drilling continues to extend the high grade gold and copper mineralisation at Hot Maden to beyond the current limitsof our 3.0M oz Gold Equivalent mineral resource. In particular, drill holes HTD-18, 20 and 22 will ultimately addpositive inventory to this existing mineral resource, including the continuity of the high grade core zone. A key point tonote is the northern end where we considered it to be closed off, has now added further mineralisation with compellingAu-Cu grade at surface with potential remaining at depth.

"Encouragingly the exploration holes to the south have also intercepted high grade gold in narrower structures. Asdrilling unfolds, this area could have additional resource potential should further economic mineralisation bediscovered.

"One fact that is starting to build interest for the team is the development of the higher grade zinc zones, which to datehave not been considered in the mineral resource estimate at all. The increase in zinc grades we are seeing in thenorth and at depth as well as the emergence of elevated molybdenum assays could add to the scope of the project, ifgreater tonnage can be achieved. The potential for a mineralised intrusive at depth also adds to the upside at HotMaden. This could be a bonus to the project, as it is outside the current high grade Au-Cu zone.

"With drilling continuing by Lidya I look forward to updating the market with progress at Hot Maden."



Links to Figures: http://marianaresources.com/site/media/September_1_NR_Maps.pdf

Resource Extension Drilling: Drill holes HTD-18 and HTD-22 represent "step back holes" to holes HTD-15 andHTD-11/12 (which were included in the August 18, 2015 Mineral Resource Estimate), and confirm extensions at depth

to the high grade Au-Cu mineralisation identified in sections 4,542,200N and 4,542,100N, respectively. Drill hole HTD-

20 was equally successful in confirming a near surface, northern extension to the massive sulphide mineralisation

intersected in discovery drill hole HTD-04 and scissor hole HTD-17. Drill hole HTD-20 is also the first high grade

Au-Cu interval to report significant Zn mineralisation, and may represent a marginal zone to the overall

southerly-plunging Au-Cu mineralised zone.

Exploration Drilling: Drill holes HTD-19 and HTD-21 were exploration holes designed to test for Au-Cumineralization along the southern extension of the Hot Maden Fault Zone. Both drill holes intersected limited, near

surface zones of quartz-sulfide veining and associated silicification, with extensive intervals of high grade Zn(-Pb)

mineralisation being intersected at depth in HTD-19. Elevated molybdenum values in drill hole HTD-21 (average 140

ppm, one assay of 0.6% Mo) also indicate the presence of a potential mineralised intrusive (porphyry-type?) system at

depth.

Drill Holes in Progress

The drilling of diamond drill holes HTD-23 and HTD-24 has commenced.

Drill hole HTD-23 (Figure 2) is an exploration hole located in the Southern Area (Hot Maden Fault Zone), and

will test for Au-Cu and Zn mineralisation to the East of HTD-19.

Drill hole HTD-24 (Figures 2) is a "step forward" hole designed to test for near-surface extensions to the high

grade Au-Cu mineralisation intersected in drill holes HTD-10/-15/-18 (section 4,542,200N).

Table 1: Summary of significant intercepts in drill holes HTD-18 to HTD-22 (Figure 7 Histograms)

Drill Hole From (m) To (m) Intercept (m) Au g/t Cu % Zn % Zone

HTD-18 207.0 215.0 8.0 - - 1.29Zinc Zone

226.0 231.0 5.0 - - 1.14

270.3 273.0 2.7 0.2 2.74 -

Au-Cu Zone

292.0 400.2 108.2 3.0 1.35 -

Including 330.0 342.0 12.0 6.4 2.84 - 373.0 375.0 2.0 8.6 5.40 - 384.0 393.0 9.0 12.4 0.80 -

HTD-19 193.0 194.0 1.0 0.93 1.02 -Au-Cu Veins

209.3 221.4 12.1 2.10 0.70 -

271.0 307.0 36.0 - - 4.29

Zinc

Zone

Including 300.0 305.0 5.0 2.5 0.18 6.34 312.0 325.3 13.3 - - 7.75

329.0 344.0 15.0 - - 3.53

HTD-20 1.5 90.0 88.5 1.8 2.34 1.96

Mixed Au-Cu Zn Zone

Including 13.0 19.0 6.0 1.5 2.06 6.87

27.0 31.0 4.0 0.8 1.53 7.72

42.0 45.0 3.0 1.3 3.05 9.31 48.5 52.0 3.5 12.5 5.68 0.14 53.0 61.0 8.0 1.1 1.35 5.76



HTD-21 16.0 19.0 3.0 2.2 0.05 -

Au-Cu Veins

21.0 24.0 3.0 1.9 0.11 - 63.0 64.0 1.0 6.3 0.21 - 67.0 69.9 2.9 1.3 1.59 - 85.0 86.0 1.0 3.6 0.59 103.4 167.5 64.1 0.79 0.32 Plus 140 ppm Mo

Including 129.1 130.1 1.0 4.4 0.65 157.9 158.7 0.8 9.6 0.45 179.0 181.0 2.0 1.2 0.97 183.0 188.0 5.0 0.8 0.25 2.36

Zn Zone 202.0 224.9 22.9 0.5 0.08 3.01 230.0 242.0 12.0 0.1 0.10 1.70 254.0 261.0 7.0 1.44

HTD-22 155.5 161.5 6.0 - - 2.25

Zn Zone 186.0 188.0 2.0 - - 3.57 261.9 266.0 4.1 - - 2.60 285.0 293.0 8.0 2.11 342.2 386.0 43.8 7.7 1.20 -

Au-Cu ZoneIncluding 342.2 356.0 13.8 23.3 1.58 -

Hot Maden Mineral Resource Estimate On August 18, 2015, Mariana reported a maiden mineral resource estimate for the Hot Maden project. The MineralResource estimate was prepared by independent mining consultants RungePincockMinarco Limited ("RPM"), and wasbased on assay results received for drill holes up to, and including, HTD-17 completed on 25th June, and is reported inaccordance with the JORC Code 2012 edition and estimated by a Competent Person as defined by the JORC Code. The maiden Mineral Resource estimate comprises:

Hot Maden Deposit (100% basis)August 2015 Mineral Resource Estimate (2g/t AuEq* Cut-off) Indicated Mineral Resource

Domain Tonnes Au Cu AuEq Au Cu AuEq t g/t % g/t* Ounces Tonnes Ounces**

Main Zone LG 481,000 0.9 1.0 2.4 14,000 5,000 37,000Main Zone HG 3,199,000 5.2 1.8 8.0 537,000 56,000 822,000Main Zone UHG 1,031,000 29.2 4.0 35.4 967,000 41,000 1,174,000

Total 4,710,000 10.0 2.2 13.4 1,518,000 102,000 2,033,000

Inferred Mineral ResourceDomain Tonnes Au Cu AuEq Au Cu AuEq

t g/t % g/t* Ounces Tonnes Ounces**Main Zone LG 819,000 0.8 1.0 2.4 21,000 8,000 62,000



Main Zone HG 2,291,000 3.1 2.0 6.2 228,000 45,000 455,000

Main Zone UHG 326,000 36.2 3.3 41.4 379,000 11,000 434,000

Peripheral Lodes 218,000 1.8 0.4 2.4 13,000 1,000 17,000

Total 3,654,000 5.5 1.8 8.2 640,000 65,000 968,000

Total Mineral ResourceDomain Tonnes Au Cu AuEq Au Cu AuEq

t g/t % g/t* Ounces Tonnes Ounces**Main Zone LG 1,299,000 0.8 1.0 2.4 35,000 13,000 100,000

Main Zone HG 5,490,000 4.3 1.9 7.2 765,000 101,000 1,277,000

Main Zone UHG 1,357,000 30.9 3.8 36.9 1,346,000 52,000 1,608,000

Peripheral Lodes 218,000 1.8 0.4 2.4 13,000 1,000 17,000

Total 8,364,000 8.0 2.0 11.2 2,159,000 167,000 3,001,000

Note from RPM:1. The Statement of Estimates of Mineral Resources has been compiled under the supervision of Mr.Stewart Coates who is a full-time employee of RPM and a Member of the Association of ProfessionalEngineers and Geoscientists of the Province of British Columbia. Mr. Coates has sufficient experience that isrelevant to the style of mineralisation and type of deposit under consideration and to the activity that he hasundertaken to qualify as a Qualified Person as defined in the CIM Standards of Disclosure and as aCompetent Person as defined in the JORC Code (2012).2. All Mineral Resources figures reported in the table above represent estimates based on drillingcompleted up to 25 June, 2015. Mineral Resource estimates are not precise calculations, being dependent onthe interpretation of limited information on the location, shape and continuity of the occurrence and on theavailable sampling results. The totals contained in the above table have been rounded to reflect the relativeuncertainty of the estimate. Rounding may cause some computational discrepancies. 3. Au Equivalence (AuEq) calculated using a 100 day moving average of $US1,178/ounce for Au and$US2.70/pound for Cu as of July 29, 2015. No adjustment has been made for metallurgical recovery or netsmelter return as these remain uncertain at this time. Based on grades and contained metal for Au and Cu, itis assumed that both commodities have reasonable potential to be economically extractable.

*- The formula used for Au equivalent grade is: AuEq g/t = Au + [(Cu% x 22.0462 x 2.7)/(1178/31.1035)] andassumes 100% metallurgical recovery. **- Au equivalent ounces are calculated by multiplying Mineral Resource tonnage by Au equivalence gradeand converting for ounces. The formula used for Au equivalent ounces is: AuEq Oz = [Tonnage x AuEq grade(g/t)]/31.1035.

4. Mineral Resource grades are estimated in accordance with the CIM Standards and reported inaccordance with JORC 2012.5. Mineral Resources reported on a dry in-situ basis.6. LG = low grade, HG = high grade and UHG = ultra-high grade. 7. Reported at a 2g/t AuEq cut-off.

Hot Maden Definitive AgreementAegean Metals Group Inc. signed a Definitive Agreement with Lidya Madencilik Sanayi ve Ticaret A.S. ("Lidya") on 24

June 2014, through which Lidya retains the exclusive right to earn-in to a 70% interest in the Hot Maden Project by

incurring a total of USD 2.5 million of combined exploration expenditures and USD 0.5 million cash payments within a

48 month period. Prior to the commencement of the Phase II drill program, Lidya had invested approximately USD

700,000 on exploration at Hot Maden.

Quality Control and AssuranceMineralised intervals presented in Table 1 are drill intersection widths and may not represent true widths of

mineralisation. Drill core obtained from the diamond drill program was dominantly HQ-sized core with the remainder

being PQ-sized core. All drill core was photographed and quick logged prior to sampling. Standard sampling protocol

involved the halving of all drill core and sampling over generally 1 m intervals (in clearly mineralised sections) or 2 m

intervals (elsewhere), with one half of the core being placed in a sealed sample bag and dispatched to the analytical



laboratory for analysis.

Samples from the Phase II drill program are being analysed at ALS Laboratories' facility in Izmir, western Turkey. All

samples are analysed for gold using a 30g Fire Assay with AAS finish, in addition to a 32 element ICP-AES analysis of

an aqua regia digest. Samples in which ICP analyses returned greater than the maximum detection limit for the

elements Ag (10 ppm), Cu (10,000 ppm), Fe (15%), Pb (10,000 ppm), and Zn (10,000 ppm) were reanalysed using

the AAS analytical technique. Standards and blanks were inserted in to the analytical sequence on the basis of one

standard for every 20 samples, 2 blanks in every batch, and one duplicate every 40 samples.

Health, Safety, and Environment (HSE)

No HSE incidents have been reported during the current diamond drill program.

Hot Maden drill holes - technical data

Technical data relating to completed drill holes at Hot Maden are given in the following table:

Hole ID Easting Northing Elevation (m) Azimuth Dip

(degrees)

Depth

(m)

Assays

Phase I

HTD-01 740,503.26 4,541,740.88 902.58 245 -60 223 Complete

HTD-02 740,602.64 4,542,143.24 877.77 222 -60 286 Complete

HTD-03 740,514.81 4,541,793.26 910.87 270 -60 150 Complete

HTD-04 740,609.82 4,542,260.07 893.42 090 -60 185 Complete

HTD-05 740,730.37 4,542,159.99 883.87 270 -60 291 Complete

HTD-06 740,652.94 4,542,368.64 914.58 105 -60 215 Complete

HTD-07 740,550.03 4,541,765.20 915.43 245 -60 240 Complete

Phase II

HTD-08 740,581.58 4,542,298.29 877.81 090 -60 274 Complete

HTD-09 740,562.94 4,542,255.00 873.02 090 -60 361 Complete

HTD-10 740,578.92 4,542,201.35 862.08 090 -60 245 Complete

HTD-11 740,776.46 4,542,099.01 866.72 270 -60 450 Complete

HTD-12 740,774.00 4,542,098.00 867.00 270 -50 360 Complete

HTD-13 740,795.00 4,542,160.00 873.00 270 -60 369 Complete

HTD-14 740,692.55 4,542,144.26 868.22 270 -54 234 Complete

HTD-15 740,493.85 4,542,204.22 855.12 090 -54 375 Complete

HTD-16 740,852.90 4,542,141.94 872.24 270 -59 498.5 Complete

HTD-17 740,721.82 4,542,245.80 873.53 270 -50 261 Complete

HTD-18 740,461.99 4,542,208.64 853.30 090 -57 425 Complete

HTD-19 740,503.36 4,541,790.50 888.41 090 -60 354 Complete

HTD-20 740,637.70 4,542,285.21 874.16 080 -60 189 Complete

HTD-21 740,515.79 4,541,903.49 930.15 090 -60 297.5 Complete

HTD-22 740,836.68 4,542,100.04 870.73 270 -60 452 Complete

**ENDS**

Qualified Person The information in this release has been reviewed by Eric Roth, Chief Operating Officer and Executive Director of

Mariana Resources. Mr Roth holds a Ph.D. in Economic Geology from the University of Western Australia, is a Fellow



of the Australian Institute of Mining and Metallurgy (AusIMM), and is a Fellow of the Society of Economic Geologists(SEG). Mr Roth has 25 years of experience in international minerals exploration and mining project evaluation.

For further information please visit website at www.marianaresources.com or contact the following.

In Australia: Glen Parsons (CEO) Mariana Resources Ltd +61 2 9437 4588Eric Roth (COO) Mariana Resources Ltd +56 9 8818 1243Rob Adamson RFC Ambrian Limited (Nomad) +61 2 9250 0041Will Souter RFC Ambrian Limited (Nomad) +61 2 9250 0050In U.K. Claire Louise Noyce Hybridan LLP (UK Broker) +44 20 3764 2341Niall Pearson Hybridan LLP (UK Broker) +44 20 3764 2342Oliver Stansfield Brandon Hill Capital (UK Broker) +44 20 3463 5061Jonathan Evans Brandon Hill Capital (UK Broker) +44 20 3463 5016Tim Blythe Blytheweigh (Financial PR) +44 20 7138 3205Megan Ray Blytheweigh (Financial PR) +44 20 7138 3203

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 and Turkey. Mariana's most advanced asset is the Hot Maden gold-copper project in NE Turkey, which is currently being advanced by our Turkish JV partner Lidya under an earn-inagreement to a 70% interest. A maiden mineral resource estimate of 2.03 Moz Gold Equivalent (Indicated Category)and 0.97 Moz Gold Equivalent (Inferred Category) (100% basis) was reported for Hot Maden on August 18, 2015.Elsewhere in Turkey, Mariana holds a 100% interest in the Ergama gold-copper project. In Suriname, Mariana has anoption to earn up to a 50.01% interest in Nassau Gold Limited, a JV company between Mariana and Sumin ResourcesLimited ("Sumin") which in turn holds an option to earn up to 80% of the Nassau Gold Project. The Nassau GoldProject is a 28,000 Ha exploration concession located approximately 125 km SE of the capital Paramaribo andimmediately adjacent to Newmont Mining's 4.2Moz Au Merian project. In southern Argentina, the Company's coregold-silver projects are Las Calandrias (100%), Sierra Blanca (100%), Los Cisnes (100%), Bozal (100%). Theseprojects are part of a 200,000+ Ha land package in the Deseado Massif epithermal gold-silver district in mining-friendly Santa Cruz Province. In Peru, Mariana holds an option to earn up to 70% interests in the Soledad Cu-Au-Agprospect in Central Peru. Mariana acquired 100% interests in the Doña Ines Au-Ag and Exploradora East Cuprospects in northern Chile through the Aegean Metals Group transaction which closed in January, 2015, withMariana exploration now being funded by Asset Chile through the provision of $1.65m for a total 50% interest.

About Lidya Madencilik Sanayi ve Ticaret A.S.

Lidya is a metal mining exploration company that has been operating in Turkey since 2009. Lidya is part of the CalikGroup, one of Turkey's largest private conglomerates with activities in the areas of mining, energy, finance,construction, textiles, telecom and media. Lidya established a strategic partnership with Canadian TSX listed miningcompany Alacer Gold Corp in August 2009. This was the first major international partnership in the Turkish miningsector with the primary goal of discovering and developing new gold and copper mines throughout Turkey. Alacer andLidya are 80:20 Joint Venture partners at the Cöpler Gold Mine in central-eastern Turkey, which produced 227,000ounces of gold during 2014 at all-in cash costs of USD 695/oz.

Safe Harbour

This press release contains certain statements which may be deemed to be forward-looking statements. Theseforward-looking statements are made as at the date of this press release and include, without limitation, statementsregarding discussions of future plans, the realization, cost, timing and extent of mineral resource estimates, estimatedfuture exploration expenditures, costs and timing of the development of new deposits, success of explorationactivities, 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 variationsof such words are intended to identify forward-looking statements. Forward-looking statements are subject to knownand unknown risks, uncertainties, assumptions and other factors that may cause actual results to vary materially fromthose expressed or implied by such forward-looking statements, including, but not limited to: the effects of generaleconomic conditions;; the price of gold, silver and copper;; misjudgements in the course of preparing forward-lookingstatements;; 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 commodityprice fluctuations;; title matters;; environmental liability claims;; unanticipated operational risks;; accidents, labourdisputes and other risks of the mining industry;; delays in obtaining governmental approvals or in the completion ofdevelopment or construction activities;; political risk;; and other risks and uncertainties described in the Company'sannual financial statements for the most recently completed financial year which is available on the Company'swebsite at www.marianaresources.com . Although we believe that the expectations reflected in such forward-lookingstatements are based upon reasonable assumptions and have attempted to identify important factors that could causeactual results to differ materially from those contained in forward-looking statements, there may be other factors thatcause results not to be as anticipated, estimated or intended. There can be no assurance that such statements willprove 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.

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Mariana Resources Ltd via GlobenewswireHUG#1948916

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