Mariana Resources : Hot Maden Continues to Deliver Significant Results

Microsoft Word - HM Update 05072016 Final

AIM: MARL

5 July 2016

Suite 102, 3 Eden Street North Sydney, NSW 2060

Australia

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. Further Significant High Grade Intercepts Reported from both Resource Extension and Infill Drilling at the Hot Maden Gold‐Copper Project

Mariana Resources Limited ('Mariana' or 'the Company'), the AIM listed exploration and development company with projects in Turkey and South America, is pleased to provide the following update on the ongoing diamond drill program at the high grade Hot Maden gold‐copper project. Results are reported for drill holes HTD‐54 to HTD‐62.

Highlights:

• Infill drilling on 25m‐centres on section 4,542,200N (main resource area) has returned the highest grade gold‐copper intercepts from Hot Maden to date and is confirming the internal continuity of gold‐copper grades within the multiphase breccia zone. Results include:

  HTD‐60: 83.3 m @ 15.9 g/t Au + 1.57% Cu from 167m downhole. Including 36m @ 17.9 g/t Au + 1.42% Cu from 190m downhole, 3m @ 68.1 g/t Au + 2.15% Cu from 233m downhole, 3m @ 60.0 g/t Au + 0.99% Cu from 242m downhole, and 3.3m @ 21.5 g/t Au + 3.77% Cu from 247m downhole. HTD‐62: 95.5m @ 32.1 g/t Au + 3.30% Cu from 36.5m downhole.

  Including 36m @ 70.5 g/t Au + 4.10% Cu from 64m downhole.

• Step back drilling along section 4,542,250N (main resource area) continues to expand the known resource, with drill hole HTD‐54 returning 56m @ 0.8% Cu from 409m downhole.

• Exploration drilling in the southern target area, located some 400m south of the main resource area, continues to return exceptional results including:

  HTD‐58: 23m @ 16.1 g/t Au + 1.1% Cu from 157m downhole. 1m @ 93.5 g/t Au + 0.46% Cu from 250m downhole. HTD‐61: 2m @ 29.8 g/t Au from 40m downhole. 8.5m @ 11.9 g/t Au + 2.51% Cu from 239m downhole.

• An updated mineral resource estimate for the Hot Maden Project is now well advanced and is expected to be completed in early July 2016. Assay results from drill holes HTD‐18 to HTD‐62 will be incorporated into the existing resource model.

• Note - all intersections quoted are as metres downhole.

  Links to Figures: http://marianaresources.com/site/media/July_5_Maps.pdf

  Chief Executive Officer Glen Parsons today commented:

  "I continue to be impressed with the drilling results from the Hot Maden project which have again produced the highest gold‐copper intercepts the project has seen to date.

  "These infill results confirm and give further confidence to the internal continuity of the high grade gold‐copper mineralisation within the resource area and will certainly contribute positively to the updated mineral resource estimate due to be completed in July 2016.

  "In addition to the main resource area, the Company is continuing its exploration drilling programme with the focus producing outstanding results in the southern target area which is some 400m south of the current resource zone and 500m north of the historic Russian mining zone. This Russian area will be one of the next step out zones for new exploration.

  "The Company and its joint venture partner Lidya continues to progress the Hot Maden project up the development and exploration value curve and I look forward to updating the market in due course."

  Hot Maden Gold‐Copper Project Update

  Recent drilling activities at the Hot Maden project have focused on:‐

  • Testing of potential extensions to the known high grade gold‐copper mineral resource,

  • Commencement of infill drilling on 25m‐centres within the main resource area in order to confirm internal continuity of the high grade gold‐copper mineralisation,

  • Scout drilling of the Southern Vein Field (the northern extension of the area mined by Russian interests pre‐1923).

Drilling will be temporarily suspended at Hot Maden during the period July 1‐11, 2016 in recognition of the Bayram holiday season.

Main Resource Area - Infill Drilling

Infill drilling on 25m‐centres was recently initiated on section 4,542,200N (main resource area) in order to confirm internal continuity of the high grade gold‐copper mineralisation. Exceptionally high grade, near surface gold‐copper mineralisation was intersected in both drill holes HTD‐62

(95.5m @ 32.1 g/t Au + 3.3% Cu in multiphase, chalcopyrite‐pyrite‐hematite‐jasper breccia) and HTD‐60 (83.3m @ 15.9 g/t Au + 1.57% Cu, also in sulphide‐bearing multiphase breccia). Note that the ultra high grade intersection in HTD‐62 is 50m north of a comparable intersection in HTD‐34 (71.0m @ 32.7 g/t Au + 1.9% Cu).

Main Resource Area ‐ Extension Drilling

Drill hole HTD‐54 intersected a new, down‐dip extension to the known gold‐copper resource on section 4,542,250N. A total of 56m of multiphase, chalcopyrite‐pyrite(‐hematite‐jasper)‐bearing breccia was intersected from 409m downhole with assays returning 56m @ 0.8% Cu. An additional drill hole HTD‐59 was designed to test the northwestern margin of the gold‐copper resource but succeeded in intersecting zinc mineralisation.

Sourthern Vein Field /HTD 27 Area

Scout drilling continues in the Southern target area (the northern extension of the area mined by Russian interests prior to 1923), with exceptional assays having been returned from HTD‐58 (23m @

16.1 g/t Au + 1.10% Cu from 157m downhole and 1m @ 93.5 g/t Au + 0.46% Cu from 250m downhole) and HTD‐61 (2m @ 29.8 g/t Au from 40m downhole and 8.5m @ 11.9 g/t Au + 2.51% Cu from 239m downhole). Further systematic work is currently scheduled to be undertaken in the immediate area in order to fully test the resource potential of this sector. Mineral Resource Update

An updated mineral resource estimate for the Hot Maden Project, which will incorporate assay results obtained from drill holes HTD‐18 up to HTD‐62 into the existing mineral resource model, is currently expected to be released in early July, 2016. The updated mineral resource estimate will be undertaken by RungePincockMinarco, the independent mining consultants which completed the maiden (August, 2015) mineral resource estimate for Hot Maden.

Table 1: Summary of assays for drill holes HTD‐54 to HTD‐62 (Cross Sections from North to South)

Drill Hole	From (m)	To (m)	Intercept (m)	Au g/t	Cu %	Zn %	Comments
Cross Sections	4,542,250N and 4,542,280N			Figures 2, 3
HTD‐54	409.0	465.0	56.0	‐	0.80	‐	Step back to HTD‐52
HTD‐59	150.0	175.0	25.0	0.5	‐	0.62	Zinc Zone, NW Margin of Main Zone
177.7	182.0	4.3	‐	3.09	0.63
194.0	214.0	20.0	‐	‐	1.21
230.0	238.0	8.0	‐	‐	2.75
Cross Section	4,542,200N			Figures 2, 4
HTD‐60	97.0	102.0	5.0	0.6	‐	2.63	Infill hole (Between HTD‐10 and HTD‐15), Main Zone
111.0	112.0	1.0	4.0	3.51	‐
167.0	250.3	83.3	15.9	1.57	‐
Including	190.0	226.0	36.0	17.9	1.42	‐
233.0	236.0	3.0	68.1	2.15	‐
242.0	245.0	3.0	60.0	0.99	‐
247.0	250.3	3.3	21.5	3.77	‐
HTD‐62	22.0	28.5	6.5	0.8	.	2.54	Infill hole (Between HTD‐10 and HTD‐24, Main Zone
36.5	132.0	95.5	32.1	3.30	‐
Including	64.0	100.0	36.0	70.5	4.10	‐
Cross Section	4,542,020N and 4,542,050N			Figure 2
HTD‐56	23.5	27.5	4.0	0.6	‐	‐	Ridge Area
38.3	46.0	7.7	0.9	‐	‐
HTD‐57	27.0	31.0	4.0	0.4	‐	5.63	Ridge Area
52.0	65.0	13.0	0.9	0.41	‐
Cross Section	4,541,875N			Figure 2, 5
HTD‐58	125.0	131.0	6.0	4.1	0.49	‐	Step back to HTD‐27
143.0	144.0	1.0	3.5	‐	‐
157.0	180.0	23.0	16.1	1.10	‐
210.0	213.0	3.0	2.3	0.48	‐