Mariana Resources : More High Grade Gold‐Copper Intercepts Confirmed in Latest Drilling at the Hot Maden Gold‐Copper Project, NE Turkey

Microsoft Word - 2016_05_26 HM Update Final

AIM: MARL 26 May 2016

Suite 102, 3 Eden Street North Sydney, NSW 2060

Australia

More High Grade Gold‐Copper Intercepts Confirmed in Latest Drilling at the Hot Maden Gold‐Copper Project, NE Turkey.

Mariana Resources Ltd ('Mariana' or 'the Company'), the AIM listed exploration and development company with projects in Turkey and South America, is pleased to report the following update on the ongoing diamond drill program at the high grade Hot Maden project. Results are presented for drill holes HTD‐51 to HTD‐53 (Figures 1 and 2), together with an update on new drilling in progress.

Highlights:

• High grade gold‐copper mineralization has been confirmed in the chalcopyrite‐ pyrite‐bearing breccia from 262m downhole in hole HTD‐52, 140m downdip of the discovery hole HTD‐4 intersection. This new extension lies outside the current mineral resource model and is therefore expected to provide a positive contribution to the next mineral resource update.

  HTD‐52 31.5m @ 4.4 g/t Au + 0.77% Cu from 262m, and 18.5m @ 0.4 g/t Au + 2.24% Cu from 295m

• Exceptional gold‐copper assays have been returned from exploration drilling in the southern target area, located 400m south of the existing resource area and within the northern extension to the pre‐1923 vein mining area.

  HTD‐53 40.5m @ 8.8 g/t Au + 0.77% Cu from 158.0m downhole

  Including 12m @ 22.2 g/t Au + 0.66% Cu from 183.0m downhole

  HTD‐51 1.0m @ 90.1 g/t Au from 163.0m downhole;‐ and 1.0m @ 22.9 g/t Au from 117.0 m downhole

  Previously released higher grade intersections in this lightly drilled area include:

  HTD‐25 25.2m @ 7.3 g/t Au + 0.47% Cu from 42.8m;‐ and 23.5m @ 3.8% Zn from 80.5m HTD‐27 39m @ 5.8 g/t Au + 0.7% Cu from 88m;‐ and 57m @ 0.8 g/t Au + 0.6% Cu + 3.1% Zn from 231m

• Mineralisation in drill holes HTD‐53 and HTD‐51 is dominantly associated with quartz‐sulfide veinlet / breccia zones.

• Drilling underway includes HTD‐54, the step‐back hole to HTD‐52 on section 4,542,250N, and HTD‐55, the step‐forward hole to HTD‐53 on section 4,541,750N.

Links to Figures: http://marianaresources.com/site/media/May_26_Maps.pdf

Chief Executive Officer Glen Parsons today commented:

"The confirmation of these high grades, following visual identification of sulphides, is extremely encouraging both in the current resource area as well as further to the south. Specifically hole HTD‐52 is now confirming the deeper resource extension below discovery hole HTD‐04, and holes HTD‐51 and HTD‐53 highlighting further potential to the south in the new discovery area.

"In the South, we are seeing multiple narrow but extremely high grade quartz sulphide vein and veinlet zones, typical to what was mined by the Russians in the early 1920's, as well as wider zones of well mineralised veinlet / breccia style mineralisation. The southern area is becoming a priority exploration target as continual high grade mineralisation is intersected.

"Two rigs are currently turning;‐ one in the immediate vicinity of the resource area for resource extension and infill drilling, to ultimately update the current resource estimate, and the second on the exploration potential to the south.

"We continue to batch results from drilling and I look forward to updating the market as results become available."

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, including drill hole HTD‐52.

• Scout drilling of the "Ridge Area" the southerly step out from the current mineral resource.

• Scout drilling of the Southern Vein Field (the northern extension of the area mined by Russian interests pre‐1923), including drill holes HTD‐51 and HTD‐53.

Main Resource Area ‐ Extension Drilling

Drill hole HTD‐52 intersected a new, down‐dip extension to the high grade gold‐copper resource in the northern part of the current resource area (Figure 2 & 3). A total of 50m of multiphase, chalcopyrite‐pyrite (‐hematite‐jasper)‐bearing breccia was intersected from 262m with assays returning:

HTD‐52 31.5m @ 4.4 g/t Au + 0.77% Cu from 262.0m downhole, and 18.5m @ 2.24% Cu + 0.4 g/t Au from 295.0m downhole

This intersection lies outside the current mineral resource model and is therefore expected to provide a positive contribution to the next mineral resource update.

Sourthern Vein Field /HTD 27 Area

Exceptional assay results were also received for two scout holes, HTD‐51 and HTD‐53, completed in the Southern target area (the northern extension of the area mined by Russian interests prior to 1923). Both holes intersected multiple zones of sulphide‐bearing veinlets / breccias (Figures 2 & 4), with key assays including:

HTD‐53 40.5m @ 8.8 g/t Au + 0.77% Cu from 158.0m downhole

Including 12m @ 22.2 g/t Au + 0.66% Cu from 183.0m downhole

HTD‐51 1.0m @ 90.1 g/t Au from 163.0m downhole, and 1.0m @ 22.9 g/t Au from 117.0 m downhole

A further five metre‐scale intervals containing grades > 5.9 g/t Au were also returned from drill hole HTD‐51. Further systematic work will be required to develop the exploration potential of this sector; high grade vein targets represent a valid exploration target in their own right and will be evaluated on a priority basis going forward.

Driling in Progress

Drill holes HTD‐54 and HTD‐55 are currently in progress. Drill hole HTD‐54 is a 50m step back hole to HTD‐52 (Figure 2 & 3), and has been designed to intersect the down‐dip extension of the chalcopyrite‐pyrite(‐hematite‐jasper) breccia at around 420m downhole. HTD‐55 is a step forward hole to HTD‐53 on section 4,541,750N (Figure 2), and has been designed to continue the eastward search for additional zones of Au mineraization.

Table 1: Summary of drill holes HTD‐51 to HTD‐53 (Cross Sections from North to South)

Drill Hole	From (m)	To (m)	Intercept (m)	Au g/t	Cu %	Zn %	Comments
Cross Section	4,542,250N			Figures 2‐3
HTD‐52	142.5	152.5	10.5	‐	0.25	2.12	Zinc Zone
262.0	293.5	31.5	4.4	0.77	‐	Main Au‐Cu Zone in Step back hole to HTD 04/09
295.0	313.5	18.5	0.4	2.24	‐
Southern Vein Field	4,541,750N and 4,541,800N			Figure 2, 4
HTD‐51	36.0	37.0	1.0	6.4	0.89	‐	Veinlet Zone
111.0	112.0	1.0	7.8	‐	‐
113.0	114.0	1.0	7.3	‐	‐
117.0	118.0	1.0	22.9	‐
163.0	164.0	1.0	90.1	‐	‐
296.0	297.0	1.0	5.9	1.37
356.5	357.5	1.0	5.7	‐	‐
HTD‐53	158.0	198.5	40.5	8.8	0.77	‐	Veinlet / Breccia Zone
Including	183.0	195.0	12.0	22.2	0.66	‐

Quality Control and Assurance

Mineralised 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 mineralized 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 have been analysed at ALS Laboratories' facility in Izmir, western Turkey. All samples have been analysed for gold using a 30g Fire Assay with AAS finish (or Screen Fire Assay for higher grade samples), 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