Ariana Resources PLC - New Lead and Co-Managers For ASX Dual-Listing

29 May 2025

AIM: AAU

NEW LEAD AND CO-MANAGERS FOR ASX DUAL-LISTING

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 announce the appointment of the Australian capital markets firm Shaw & Partners ("Shaw") as Lead Manager for its proposed dual-listing on the Australian Securities Exchange ("ASX"), which is targeted for completion in Q3 2025. Furthermore, Shaw has entered into a separate agreement with Leeuwin Wealth ("Leeuwin") to act as Co-Manager.

The proposed ASX listing will provide Ariana's shareholders with exposure to a market that understands and supports small-to-medium-sized gold explorers and developers. The intention is to provide Ariana with greater access to capital and increased liquidity, which may facilitate an improved valuation for the Company. Ariana investors wishing to trade securities on the ASX will also be able to transfer their existing shareholdings to the proposed Australian register.

The Company also intends to raise new equity in conjunction with its ASX listing, with the funds raised to be directed towards the exploration and technical studies scheduled at the Company's 100%-owned Dokwe Gold Project in Zimbabwe. The precise timing of Ariana's ASX listing and the amount of any capital raised in conjunction with the listing are yet to be determined.

Dr. Kerim Sener, Managing Director, commented:

"Ariana is pleased to advise that the Company is now well-positioned for its planned ASX listing this year. At the end of last year, Ariana postponed the planned IPO to accommodate full-year audited financial statements in the Prospectus to help us prepare for the IPO at the Company's AGM and to adopt a new Lead Manager, in particular.

"Within this time, we have also made significant advances in our understanding of the opportunity at the Dokwe Gold Project and have demonstrated the potential for over 1 million ounces of gold within optimised pit shells, in addition to substantial exploration upside across Dokwe North and Central. Since late 2024 and early 2025, the Company has raised additional capital specifically to advance these and other activities, which was supported by some of our larger shareholders, including Newmont Mining Corporation, Riverfort Global Opportunities and our partners, Proccea Construction Co.

"We look forward to working closely with Shaw and Leeuwin in the next two months as the Company approaches its dual-listing on the ASX via an IPO."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

About Shaw and Partners

Shaw and Partners is one of Australia's preeminent investment advice and wealth management firms. With a national presence and A$35 billion of assets under advice, Shaw and Partners offers the intimacy of a boutique investment firm, backed by the resources and scale of a major global financial group, EFG International, managing over A$260 billion of assets.

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About Leeuwin Wealth

Leeuwin Wealth combines decades of experience and a deep understanding of the Australian market to deliver comprehensive wealth management and capital markets advisory services. Founded by recognised industry leaders, Leeuwin Wealth shares a collective commitment to produce exceptional client outcomes underpinned by strategy, insight and innovation.

https://www.leeuwinwealth.com.au/

Contacts:

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.

Editors' Note:

About Ariana Resources:

Ariana is an AIM-listed mineral exploration and development company with an exceptional track-record of creating value for its shareholders through its interests in active mining projects and investments in exploration companies. Its current interests include a major gold development project in Zimbabwe, gold production in Türkiye and copper-gold exploration and development projects in Cyprus and Kosovo.

Ariana owns 100% of the Dokwe Gold Project ("Dokwe") in Zimbabwe. Dokwe is made up of the Dokwe North and Dokwe Central gold deposits which are located in the Tsholotsho District near the city of Bulawayo. The deposits have a combined in-pit JORC Measured, Indicated and Inferred Resource of over 1.42 million ounces of gold (as at March 2025) and the project represents the largest undeveloped gold project in Zimbabwe.

The Company holds 23.5% interest in Zenit Madencilik San. ve Tic. A.S. a joint venture with Ozaltin Holding A.S. and Proccea Construction Co. in Türkiye which contains a depleted total of c. 2.2 million ounces gold equivalent (as at March 2024, using a price ratio of 90 Ag to 1 Au). The joint venture comprises the Kiziltepe Mine and the Tavsan and Salinbas projects.

The Kiziltepe Gold-Silver Mine is located in western Türkiye and contains a depleted JORC Measured, Indicated and Inferred Resource of 171,700 ounces gold and 3.3 million ounces silver (as at March 2024). The mine has been in profitable production since 2017 and has been producing at an average rate of c.22,000 ounces of gold per annum. A Net Smelter Return ("NSR") royalty of 2.5% on production is being paid to Franco-Nevada Corporation.

The Tavsan Gold Mine is located in western Türkiye and contains a JORC Measured, Indicated and Inferred Resource of 311,000 ounces gold and 1.1 million ounces silver (as at March 2024). Following the approval of its Environmental Impact Assessment and associated permitting, Tavsan is being developed as the second gold mining operation in Türkiye and is currently in construction. A NSR royalty of up to 2% on future production is payable to Sandstorm Gold.

The Salinbas Gold Project is located in north-eastern Türkiye and contains a JORC Measured, Indicated and Inferred Resource of 1.5 million ounces of gold (as at July 2020). It is located within the multi-million ounce Artvin Goldfield, which contains the "Hot Gold Corridor" comprising several significant gold- copper projects including the 4 million ounce Hot Maden project, which lies 16km to the south of Salinbas. A NSR royalty of up to 2% on future production is payable to Eldorado Gold Corporation.

Ariana owns 76% of UK-registered Western Tethyan Resources Ltd ("WTR"), which operates across south-eastern Europe and is based in Pristina, Republic of Kosovo. The company is targeting its exploration on major copper-gold deposits across the porphyry-epithermal transition. WTR is being funded through a five-year Alliance Agreement with Newmont Mining Corporation (www.newmont.com) and is separately earning-in to up to 85% of the Slivova Gold Project.

Ariana owns 61% of UK-registered Venus Minerals PLC ("Venus") which is focused on the exploration and development of copper-gold projects in Cyprus, containing a combined JORC Indicated and Inferred Resource of 16.6Mt @ 0.45% to 0.80% copper (excluding additional gold, silver and zinc).

Ariana owns several investments in listed and private companies via its Australian subsidiary Asgard Metals Pty. Ltd. ("Asgard"), which also provides technical input into the various investee company exploration programmes. Investments have been made in high-value potential, discovery-stage mineral exploration companies located across the Eastern Hemisphere and within easy reach of Ariana's operational hubs in Australia, Türkiye, UK and Zimbabwe. Its most advanced interest is through a 4.9% holding of Panther Metals Limited (ASX: PNT).

Zeus Capital Limited and Fortified Securities are brokers to the Company and Beaumont Cornish Limited is the Company's Nominated Adviser.

For further information on Ariana, you are invited to visit the Company's website at www.arianaresources.com.

Ends.