Dual Listing – Close of Institutional Bookbuild

Ariana Resources plc (AIM: AAU, "Ariana" or the "Company"), the AIM-listed mineral exploration and development company with gold project interests in Africa and Europe, is pleased to advise that the institutional bookbuild for its Australian Securities Exchange ("ASX") dual listing offer ("ASX Offer") to certain eligible institutional investors in Australia and certain other jurisdictions closed at 3:30pm AEST on 28 July 2025.

The ASX Offer will be a public offering of a minimum of 35,714,286 Chess Depositary Interests ("CDIs") (equivalent to 357,142,860 shares) and a maximum of 53,571,429 CDIs (equivalent to 535,714,290 shares) at an issue price of A$0.28 per CDI to raise between A$10,000,000 and A$15,000,000 (before costs) ("ASX Offer"). Each CDI represents 10 underlying shares in the capital of the Company.

The ASX Offer will comprise:

• an offer open to Australian resident retail investors who receive an invitation from their broker to participate (the "Broker Firm Offer");
• an offer to certain institutional investors in Australia, New Zealand, Hong Kong, Switzerland, Singapore and the United Kingdom who have been invited by the Company and/or the lead manager to participate (the "Institutional Offer"); and
• an offer to those Australian resident investors who are eligible to participate, or any other person who the Company reasonably believes is able to be offered CDIs in accordance with applicable laws without the need for any disclosure document, registration, qualification, filing or other formality (other than a registration or formality which the Company is willing to comply with) (the "General Offer").

The ASX Offer will be made pursuant to Resolutions passed by Shareholders at the Annual General Meeting held on 9 July 2025 and will be conditional on the following conditions being satisfied: (a) the Minimum Subscription to the ASX Offer being reached; (b) and ASX granting conditional approval for the Company to be admitted to the ASX Official List.

Shaw and Partners Limited is acting as Lead Manager in respect of the ASX Offer, with Leeuwin Wealth Pty. Ltd. acting as Co-Manager.

The Company intends to lodge a prospectus in relation to the ASX Offer ("Prospectus") with the Australian Securities and Investments Commission on 29 July 2025. The Company anticipates an ASX listing date per the Prospectus timetable on or about 15 September 2025, under the ticker code AA2.

The Prospectus will be available on the Company's website at http://www.arianaresources.com. All offers of CDIs for the ASX Offer will be made in, or accompanied by, the Prospectus. Investors should consider the Prospectus in deciding whether to acquire CDIs and any person who wishes to apply for CDIs must complete the application form that is accompanied by the Prospectus.

Investors in the United Kingdom should note the APPENDIX - ELIGIBLE INVESTORS IN THE UNITED KINGDOM set below.

Further information about Ariana is available on the Company's website http://www.arianaresources.com

APPENDIX - ELIGIBLE INVESTORS IN THE UNITED KINGDOM

Neither the Prospectus nor any other document relating to the offer has been delivered for approval to the Financial Conduct Authority in the United Kingdom and no prospectus (within the meaning of section 85 of the Financial Services and Markets Act 2000, as amended ("FSMA")) has been published or is intended to be published in respect of the CDIs. The CDIs may not be offered or sold in the United Kingdom by means of the Prospectus or any other document, except in circumstances that do not require the publication of a prospectus under section 86(1) of the FSMA. The Prospectus is issued on a confidential basis in the United Kingdom to "qualified investors" within the meaning of Article 2(e) of the UK Prospectus Regulation. The Prospectus may not be distributed or reproduced, in whole or in part, nor may its contents be disclosed by recipients, to any other person in the United Kingdom. Any invitation or inducement to engage in investment activity (within the meaning of section 21 of the FSMA) received in connection with the issue or sale of the CDIs has only been communicated or caused to be communicated and will only be communicated or caused to be communicated in the United Kingdom in circumstances in which section 21(1) of the FSMA does not apply to the Company. In the United Kingdom, the Prospectus is being distributed only to, and is directed at, persons (i) who have professional experience in matters relating to investments falling within Article 19(5) (investment professionals) of the Financial Services and Markets Act 2000 (Financial Promotions) Order 2005 ("FPO"), (ii) who fall within the categories of persons referred to in Article 49(2)(a) to (d) (high net worth companies, unincorporated associations, etc.) of the FPO or (iii) to whom it may otherwise be lawfully communicated ("Relevant Persons"). The investment to which the Prospectus relates is available only to Relevant Persons. Any person who is not a Relevant Person should not act or rely on the Prospectus.