ASX Offer Open and Tavsan Update

Ariana Resources plc ("Ariana" or "the Company"), the AIM-listed mineral exploration and development company with gold project interests in Africa and Europe, is pleased to provide updates on its ASX Offer and on its immediate work programmes, including recent developments at the Tavsan Mine in Türkiye.

Highlights:

• ASX listing application in progress following successful institutional bookbuild and the launch of the Offer to raise between A$10-15 million.
• ASX Prospectus and the link to the Computershare offer website are available via https://www.arianaresources.com/investors/prospectus.
• OnMarket bookbuild is simultaneously underway and accessible to eligible investors via https://www.onmarket.com.au/ipo-investment/.
• Drilling programme to commence at the wholly-owned Dokwe Gold Project in Zimbabwe on conclusion of the ASX listing, following-up on prior drill intercepts, including:

o 8m @ 197.22 g/t Au (inclusive of a 1m intercept of 1,568 g/t Au)

o 14m @ 54.75 g/t Au

o 85m @ 5.23 g/t Au, including 15m @ 13.64 g/t Au

o 49m @ 4.42 g/t Au

o 27m @ 6.53 g/t Au

• Tavsan processing plant has achieved operational status, ready for gold production from the heap-leach; processing of high-grade ore continues through the Kiziltepe processing plant.
• Final commissioning of the processing plant at Tavsan is underway, following cold- and hot-commissioning trials and the completion of testing of the Adsorption-Desorption-Recovery ("ADR") system.
• Application to the authorities is underway for the operation to commence production from the heap-leach in August, and statutory government inspections are expected imminently.
• Kerim Sener, Managing Director, commented:

"We are excited to have launched our offer following the successful completion of the review of our Prospectus by the Australian Securities and Investment Commission. We are now advancing towards our planned ASX listing, which is seeking to raise between A$10-15 million.

The timing of this offer, in parallel with the successful completion of construction at the Tavsan heap-leach pads and processing plant could not have been better, as we progress into the strongest gold price environment ever experienced. With interests in two operating gold mines in Türkiye and our 100% ownership in the feasibility-stage >1.1 million ounce Dokwe Gold Project in Zimbabwe, we are well set to achieve substantial returns for our shareholders. We look forward to updating the market further on our progress across our projects, in particular the commencement of a new drilling programme at Dokwe following the conclusion of our ASX listing."

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

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.