Result Placing and Subscription & PDMR Dealing

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

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.

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").

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