Ariana Resources plc December 2017 Ariana Resources PLC – Dec 2017
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No undertaking, representation, warranty or other assurance, expressed or implied, is made or given by or on behalf of the Company or any of its directors, officers, partners, employees or advisers or any other person as to the accuracy or the completeness of the information or opinions contained herein and to the extent permitted by law no responsibility or liability is accepted by any of them for any such The Presentation is being distributed on request only to, and is directed at, authorised persons or information or opinions. Notwithstanding the aforesaid, nothing in this paragraph shall exclude liability exempt persons within the meaning of FSMA or any order made thereunder or to those persons falling for any representation or warranty made fraudulently. within the following articles of the Financial Services and Markets Act 2000 (Financial Promotion) Order Ariana Resources PLC – Dec 2017 2
Exploration, Development, Production Exploration: 1Moz Salinbas Project represents a major opportunity for growth within a highly prospective region which also hosts the 4Moz Hot Maden project Development: Tavsan represents revenue generative upside targeting 50,000 oz Au p.a. from the Red Rabbit JV Production: Red Rabbit JV revenue expected at >US$ 5M per quarter at current gold price from the Kiziltepe gold mine Ariana Resources PLC – Dec 2017 3
Turkey Europe’s Largest Gold Producer 1 2 10 active gold mines 1. DEVELOPMENT: Salinbas Project Area inc. Ariana’s 50% -owned Kiziltepe Mine: 2. PRODUCTION: Red Rabbit Project Area Red Rabbit Gold Project Ariana Resources PLC – Dec 2017 4
Salinbas Project Exploration & Development Resource drilling at Salinbas using the Ariana drill rig Ariana Resources PLC – Dec 2017 5
Hot Gold Corridor A Multi-million Ounce Goldfield • Major goldfield containing multi-million ounce gold- copper projects • 4Moz Hot Maden Project: 15km south of Ariana’s Salinbas project and now owned 30% by Sandstorm Gold Ltd. after US$175m deal • c.1Moz Au equiv. JORC resource at Salinbas/Ardala • Project area includes the Salinbas Au-Ag deposit, the Ardala Cu-Au-Mo porphyry and the Hizarliyayla Au-Ag system among others • Salinbas: 10Mt @ 2.0 g/t Au and 10.2 g/t Ag • Ardala: 16Mt @ 0.6 g/t gold, with copper (0.22%) and molybdenum (0.014%) zones Ariana Resources PLC – Dec 2017 6
Salinbas Project +1Moz JORC Resource 100% Ariana Resources Mine life: 10 years C1 Cash Costs: US$770/oz • Company transformative & Processing: CIL substantial exploration upside Production Rate: 50,000 oz Au p.a. • Scoping study* completed on Salinbas deposit alone; further 9.96Mt for 650Koz Au JORC Resource: (Inferred & Indicated) revisions underway In-pit grade 2.0 g/t Au; 10.2 g/t Ag • c.US$9 million spent by previous Net- present value JV with Eldorado Gold before US$108M (8%): project acquisition Internal Rate of 28% • Outright acquisition from Eldorado Return: Gold in 2017 Payback (initial 3.3 years US$53M capex) : State Right and 2% NSR to *Pre-tax case at US$1,250/oz, as at April 2015 Royalty: Eldorado Gold Scoping by Auralia Mining Consulting Pty. Ltd. (April 2015) Ariana Resources PLC – Dec 2017 7
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