Result Placing and Subscription & PDMR Dealing

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

26 March 2025

Ariana Resources plc

("Ariana" or the "Company")

Result Placing and Subscription

PDMR Dealing

Ariana Resources plc (LSE: AAU), the AIM-listed mineral exploration and development company with gold project interests in Africa and Europe, confirms, further to its announcement of 7:00 a.m. on 26 March 2025 that it has successfully closed the Placing and Subscription which raised in aggregate £1.05m.

Capitalised terms used but not otherwise defined in this announcement shall have the meanings ascribed to such terms in Appendix I of the Company's announcement issued at 7:00 a.m. on 26 March 2025, unless the context requires otherwise.

Result of Placing and Subscription

Subject to the satisfaction of the conditions referred to below, the Placing has raised, in aggregate, gross proceeds of £700k through the placing of 46,599,997 new Ordinary Shares (the "Placing Shares") at a price of 1.5 pence per share and issued, in aggregate, 3,727,998 Ordinary Shares to the Company's broker Zeus Capital and its associated placing agent Fortified Securities in lieu of fees connected to the Placing (the "Broker Shares"). The Subscription has raised £347k through the issue of 6,666,667 new Ordinary Shares to Directors and management and 16,439,272 new Ordinary Shares to consultants to the Company in lieu of fees (together the "Subscription Shares").

In addition, the Company is expecting to receive an additional subscription letter for £77k (for the issue of 5,153,000 ordinary shares at 1.5p) and is expecting to receive agreement to issue another 1,950,508 Ordinary Shares at 1.5p in lieu of service fees of £29k. Whilst no guarantee can be provided that these additional arrangements will be entered into, the Directors are confident that they will be. A further announcement  will be made in due course if these arrangements are entered into.

The allotment and issue of the Placing Shares, the Subscription Shares and the Broker Shares is conditional, inter alia, upon:

·     Admission becoming effective by no later than 8.00 a.m. on or around 7 April 2025 (or such other time and/or date, being no later than 8.00 a.m. on 30 April 2025, as Zeus and the Company may agree);

·     the conditions in the Placing Agreement in respect of the Placing Shares being satisfied or (if applicable) waived; and

·      the Placing Agreement not having been terminated in accordance with its terms prior to Admission.

Accordingly, if any of such conditions are not satisfied or, if applicable, waived, the Placing and the Subscription will not proceed.

Use of Proceeds

The net proceeds from the Fundraise will be used to provide working capital for the Company and to provide funds to complete certain desktop and field work to support the ongoing feasibility study at the Dokwe Project.

The net proceeds from the Placing and Subscription will ensure that the Company has sufficient working capital and funds for its immediate project exploration and development needs until July 2025. Accordingly, the Company aims to secure additional funding and is currently in discussions with various parties regarding other funding arrangements. Further updates will be given in due course.

Dr. Kerim Sener, Managing Director of the Company, commented:

"We welcome the support of several new investors into this placing and the associated support of our advisors and consultants. This placing is designed to enable us to complete the initial technical work on the Dokwe Gold Project feasibility study to showcase a revised Ore Reserve and to establish the basis for further project development. We are excited to advance Dokwe through its feasibility study over the remainder of this year, as this represents the most significant development asset in our advanced portfolio. We recognise the value of this asset and the importance of unlocking the true value for our shareholders."

Admission and Total Voting Rights

Application will be made to the London Stock Exchange for admission of the Placing Shares, Subscription Shares and the Broker Shares, a total of 73,433,934 new Ordinary Shares to trading on AIM (the "New Shares". It is expected that Admission will become effective and dealings in the New Shares will commence on AIM at 8.00 a.m. on or around 7 April 2025 (or such later date as may be agreed between the Company and the Zeus, but no later than 30 April 2025) ("Admission").

The New Shares will be issued fully paid and will rank pari passu in all respects with the Company's existing Ordinary Shares.

Following Admission, the total number of Ordinary Shares in the capital of the Company in issue will be 1,936,495,262 with voting rights. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company's share capital pursuant to the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Director Participation

Certain directors of the Company participated in the Fundraising, details of which are outlined below:

For further information, please contact:

Enquiries:

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

About Ariana Resources:

Ariana is an AIM-listed mineral exploration and development company with an exceptional track-record of creating value for its shareholders through its interests in active mining projects and investments in exploration companies. Its current interests include a major gold development project in Zimbabwe, gold production in Türkiye and copper-gold exploration and development projects in Cyprus and Kosovo.

Ariana owns 100% of the Dokwe Gold Project ("Dokwe") in Zimbabwe. Dokwe is made up of the Dokwe North and Dokwe Central gold deposits which are located in the Tsholotsho District near the city of Bulawayo. The deposits have a combined JORC Measured, Indicated and Inferred Resource of over 1.83 million ounces of gold (as at June 2024) and the project represents the largest undeveloped gold project in Zimbabwe.

The Company holds 23.5% interest in Zenit Madencilik San. ve Tic. A.S. a joint venture with Ozaltin Holding A.S. and Proccea Construction Co. in Türkiye which contains a depleted total of c. 2.2 million ounces gold equivalent (as at March 2024, using a price ratio of 90 Ag to 1 Au). The joint venture comprises the Kiziltepe Mine and the Tavsan and Salinbas projects.

The Kiziltepe Gold-Silver Mine is located in western Türkiye and contains a depleted JORC Measured, Indicated and Inferred Resource of 171,700 ounces gold and 3.3 million ounces silver (as at March 2024). The mine has been in profitable production since 2017 and has been producing at an average rate of c.22,000 ounces of gold per annum. A Net Smelter Return ("NSR") royalty of 2.5% on production is being paid to Franco-Nevada Corporation.

The Tavsan Gold Mine is located in western Türkiye and contains a JORC Measured, Indicated and Inferred Resource of 311,000 ounces gold and 1.1 million ounces silver (as at March 2024). Following the approval of its Environmental Impact Assessment and associated permitting, Tavsan is being developed as the second gold mining operation in Türkiye and is currently in construction. A NSR royalty of up to 2% on future production is payable to Sandstorm Gold.

The Salinbas Gold Project is located in north-eastern Türkiye and contains a JORC Measured, Indicated and Inferred Resource of 1.5 million ounces of gold (as at July 2020). It is located within the multi-million ounce Artvin Goldfield, which contains the "Hot Gold Corridor" comprising several significant gold- copper projects including the 4 million ounce Hot Maden project, which lies 16km to the south of Salinbas. A NSR royalty of up to 2% on future production is payable to Eldorado Gold Corporation.

Ariana owns 76% of UK-registered Western Tethyan Resources Ltd ("WTR"), which operates across south-eastern Europe and is based in Pristina, Republic of Kosovo. The company is targeting its exploration on major copper-gold deposits across the porphyry-epithermal transition. WTR is being funded through a five-year Alliance Agreement with Newmont Ventures Limited (www.newmont.com) and is separately earning-in to up to 85% of the Slivova Gold Project.

Ariana owns 61% of UK-registered Venus Minerals PLC ("Venus") which is focused on the exploration and development of copper-gold projects in Cyprus, some of which are in application, containing a combined JORC Indicated and Inferred Resource of 16.6Mt @ 0.45% to 0.80% copper (excluding additional gold, silver and zinc).

Ariana owns several investments in listed and private companies via its Australian subsidiary Asgard Metals Pty. Ltd. ("Asgard"), which also provides technical input into the various investee company exploration programmes. Investments have been made in high-value potential, discovery-stage mineral exploration companies located across the Eastern Hemisphere and within easy reach of Ariana's operational hubs in Australia, Türkiye, UK and Zimbabwe. Its most advanced interest is through a 2% holding of Panther Metals Limited (ASX: PNT).

Zeus Capital Limited is the broker to the Company and Beaumont Cornish Limited is the Company's Nominated Adviser.

For further information on Ariana, you are invited to visit the Company's website at www.arianaresources.com.