🕐19.12.11 - 10:00 Uhr

MARIANA RESOURCES COMPLETES STRATEGIC SHARE PLACEMENT TO ANGLOGOLD ASHANTI



. Mariana Resources AIM and PLUS code: MARL TSX: MRY 19 December 2011
Mariana Resources completes strategic share placement to AngloGold Ashanti Holdings plc. Mariana Resources Ltd (Mariana or the Company), the AIM and TSX quoted exploration and development company focused in Argentina and Chile, confirms that 45,418,212 shares have been issued to AngloGold Ashanti Holdings plc ("AngloGold"), for gross proceeds of �5,439,354 (approx C$8,716,020).

The shares will be listed on AIM on 20 December 2011.

The Toronto Stock Exchange has approved the issuance subject to the restriction that none of the shares may be sold or offered for sale in Canada until after 13 April 2012.

As a consequence the issued capital of the Company is 228,665,487 ordinary fully paid shares.

Mariana paid a finders fee to RFC Corporate Finance Ltd.

of 5% of the gross proceeds received in cash. On 17 November 2011 Mariana announced that AngloGold had agreed to subscribe for 45,000,000 shares in Mariana at a price of 12 pence per share.

The terms of the agreement included a right for AngloGold to maintain its equity of 19.9% in Mariana in the event of further issues by Mariana.

When Mariana exercised its option to acquire IAMGOLD Corporations 30% interest in the Santa Cruz Joint Venture, AngloGold elected to maintain its interest by subscribing for an additional 418,212 shares at 9.41 pence per share, the same issue price as the IAMGOLD Corporation transaction. Key terms of the agreement with AngloGold * AngloGold subscribes for 45 million Mariana shares at 12 pence per share for a total subscription amount of �5,400,000 providing AngloGold with a 19.9% interest in Mariana; * Mariana will commit to use at least 75% of the subscription amount to develop its various epithermal gold-silver deposits located in the Deseado Massif, Santa Cruz Province in Patagonia, Argentina; * AngloGold will have the right to appoint a non-executive director to the Board of Mariana; * AngloGold will have the right to participate in any equity offerings by Mariana to maintain its pro-rata share ownership, a pre-emptive right in respect of any equity offerings by Mariana to any other precious metals companies and a right of first refusal on disposition or sale of Marianas assets or joint venture interests subject to pre-existing rights; * Mariana and AngloGold will establish a Technical Advisory Committee that will meet at least quarterly to consider the progress of and add technical input in respect of Marianas various projects in Argentina; * If AngloGolds interest in the ordinary shares of Mariana drops below 10%, then the above rights will fall away; and * The placement was conditional on the execution of the necessary agreements to implement the subscription, and on South African Reserve Bank approval as well as regulatory approvals, which have all been received. **ENDS** NEITHER THE TSX NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE For further information please visit website at www.marianaresources.com or contact the following. In Australia:
John Horsburgh (Chairman) Mariana Resources Ltd +61 29437 4588 Ray Angus (COO) Mariana Resources Ltd +61 40004 2630 Glen Parsons (CFO) Mariana Resources Ltd +61 29437 4588 Rob Adamson RFC Corporate Finance Limited (Nomad) +61 29250 0041 Will Souter RFC Corporate Finance Limited (Nomad) +61 29250 0050 In U.K.
Matthew Robinson FinnCap (Broker) +44 20 7600 1658 Jonathan Evans Fox Davies Capital ( Co UK Broker) +44 20 3463 5000 Felicity Edwards St Brides Media and Finance Ltd (PR) +44 20 7236 1177 In Canada:
Kathryn Witter Mariana Resources Ltd (Vancouver Office) +1 604 669 9336 Arash Shahi Renmark Financial Communications (PR) +1 514 939 3989 Philip Robin Renmark Financial Communications (PR) +1 416 644 2020
About Mariana Resources Mariana Resources Ltd is an AIM and TSX quoted exploration and development company with an extensive portfolio of gold, silver and copper projects in Argentina and Chile.

In southern Argentina, in addition to the advanced Las Calandrias gold-silver project, the Company has the Sierra Blanca silver-gold project (100%); the Los Amigos joint venture (49%) with Hochschild Mining and staked a 215,000 Ha land package (100%) .

All of these projects are located in the Deseado Massif epithermal gold-silver district in mining-friendly Santa Cruz province of southern Argentina, which hosts four mines and several advanced projects.

In Chile, Mariana has a joint venture with US based international mining and natural resources company Cliffs Natural Resources Inc., to explore for iron oxide-copper-gold deposits (IOCG) in a 92,000 km� area ("SCM Mariana Area") in north-central Chile along the highly prospective Atacama Fault Zone.

The SCM Mariana Area includes the 44km� Buenaventura and 46km� Perro Chico IOCG projects.

Mariana is also evaluating a number of gold-silver and copper-gold opportunities independent of and outside the Cliffs JV area. [cid:image001.jpg@01CCBE2C.900C5EB0]



Products & Services | Jobs