Further asset sale in Türkiye yields US$3.7m cash

Ariana Resources plc (AIM: AAU, ASX: AA2, "Ariana" or "the Company"), the mineral exploration and development company with gold project interests in Africa and Europe, is pleased to advise that it has sold its legacy interest in the Kiziltepe Sector ("Kiziltepe") in Türkiye to Proccea Construction Co. ("Proccea"), following the conclusion of commercial operations.

Highlights:

• Ariana's 9.9% interest in Kiziltepe was sold to Proccea for US$3.7m gross cash (c.US$3.3m net of local taxes), with completion occurring on 29 July 2026 and the proceeds received.
• Ariana retains a 9.9% interest in, and a board seat on, Zenit Madencilik San. ve Tic. A.Ş., the owner-operator of the Tavşan Mine and Salinbas Project, and Ariana remains entitled to its pro rata share of future dividends.
• Ariana has also received US$0.8m from Zenit to fully settle an outstanding intercompany debt.
• The transaction provides additional non-dilutionary funding as Ariana progresses its DFS at the 100%-owned 1.6Moz[1] Dokwe Gold Project in Zimbabwe ("Dokwe"), its core focus going forward.
• Ariana's pro forma cash is A$39m, with its remaining investment in Zenit held at a carrying value of A$15m.*
• Kerim Sener, Managing Director, commented:

"This agreement with Proccea marks the successful conclusion of Ariana's involvement in the Kiziltepe Mine, which we progressed from a greenfields exploration project into a profitable gold-silver operation over the past two decades. We are immensely proud of what has been achieved, and I would like to sincerely thank the Kiziltepe team, our partners and the local communities, whose support has been instrumental to the mine's success over the past 20 years.

"Kiziltepe has produced more than 162,000 ounces of gold and 1.78 million ounces of silver, generating approximately US$69 million in cash returns for Ariana from a total investment of just US$8 million. These returns have strengthened the Company and enabled us to reward shareholders, including through special dividends totalling US$10 million in 2021 and 2022.

"This transaction monetised a residual interest, relieves Ariana from future liabilities and further simplifies Ariana's portfolio. Most significantly, this sale further strengthens our balance sheet and further refines our focus on advancing our flagship Dokwe Gold Project in Zimbabwe, while retaining exposure to future value creation through our 9.9% interest in the producing Tavşan Mine and the Salinbaş Project."

Material Terms of the Sale Agreement

Following the division of Zenit Madencilik San. ve Tic. A.Ş. and an in specie distribution of Kiziltepe Sector ("Kiziltepe") interests to the shareholders of Zenit, including the underlying assets and liabilities associated with Kiziltepe. Under the sale agreement, the Company, through its wholly-owned Turkish subsidiary, Galata Mineral Madencilik San. ve Tic. A.Ş. ("Galata"), has transferred to Proccea a total of 98,693,287 registered shares in Kiziltepe, each with a nominal value of TRY 1.00 ("Transfer Shares"); the Transfer Shares represented 9.9% of Kiziltepe's total issued share capital.

The aggregate consideration ("Consideration") for the Transfer Shares received by Ariana was US$3,712,500, payable in cash. The Consideration has now been received in full and the transfer of the Transfer Shares occurred simultaneously with payment.

Using the same valuation method as applied at 31 December 2025, the carrying value of the Kiziltepe Sector being disposed is the same as the consideration being received US$3,712,500 (USD/GBP 0.75 = £2,784,375). There will be no profit/loss recognised on disposal. The remaining carrying value of the Zenit Shares (post-disposal) will be US$10,482,353 (USD/GBP 0.75 = £7,861,765).

In addition to the above Consideration, Galata has been reimbursed US$800,000 from Zenit to fully settle an outstanding debt.

Continuing Interest in Zenit

Following completion of the transaction, Galata retains a 9.9% investment interest in the total issued share capital of Zenit. Zenit is operated by Proccea Construction Co., which holds a 27.7% interest, with the remaining 62.4% owned by Özaltin Holding A.Ş. Zenit owns the Tavşan gold-silver mine and the Salinbaş development project in Türkiye.

Dokwe Mineral Resource Estimate

Table 1: In-pit Mineral Resource Estimate for the Dokwe Gold Project

Notes:

• The Dokwe Mineral Resource Estimate is reported within a Dokwe North pit-shell optimised at US$5,000/oz Au.
• The Mineral Resource Estimate is reported accordance with the JORC (2012) Code, using a cut-off grade of 0.2g/t Au. Errors may be present due to rounding. The Dokwe Mineral Resource Estimate is inclusive of Reserves.
• Figures presented above are both gross and net attributable to Ariana, via its subsidiary Canister Resources (Pvt) Ltd in Zimbabwe.

Dokwe Ore Reserve Estimate

Table 2: Ore Reserves by grade classification for the Dokwe Gold Project

Notes:

• The Dokwe North Ore Reserves are reported within the Dokwe North pit design and include mining dilution and recovery.
• The Ore Reserves are reported in accordance with the JORC (2012) Code, using a cut-off grade of 0.2g/t Au, calculated and used to constrain the Ore Reserves. Errors may be present due to rounding.
• Figures presented above are both gross and net attributable to Ariana, via its subsidiary Canister Resources (Pvt) Ltd in Zimbabwe.

* The proforma cash figure of £20.68m (A$39.6m) is based on the following assumptions: cash (at Q2 2026 end) of £17.30m (A$33.12m); sale of Kiziltepe for £2.77m (A$5.3m); and an additional £0.60m (US$0.8m = A$1.15m) in settlement of debt together with the remaining interest in Zenit with a carrying value of £7.82m (US$10.5m = A$15m).

Compliance Statements