| AIM: MARL 10 June 2016 |
Suite 102, 3 Eden Street |
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MARIANA RESOURCES - EXPIRY AND ISSUE OF OPTIONS
GUERNSEY, United Kingdom, June 10, 2016 (GLOBE NEWSWIRE) -- Mariana Resources Ltd ('Mariana' or 'the Company'), the AIM listed exploration and development company with projects in Turkey and South America, advises that following the expiry of 2,900,000 options earlier this year, the Board has approved the remuneration committee recommendations to issue 21,150,000 incentive and performance options to employees, directors and consultants. All options to employees and directors are issued under the conditions of the Employee Share Option Plan. The new options issued to directors are performance options specifically at an exercise price of 4.25p, 4.5p and 4.75p aiming at aligning the key objective of share price performance of the company and expire on 1 June 2019.
Currently the share options under the Employee Share Option Plan post this issue represent 4.33% of the company's total shares on issue (2015- 4.38% at time of last issue). As a result of the above option expiry and issue, the Company has the following options outstanding:
| Employees | 19,300,000 |
| Directors | 32,630,400 |
| Other | 6,798,100 |
| Total outstanding | 58,728,500 |
Directors Option Holdings for this year following this issue:
| Director | Opening Balance | Expired Options | Options issued | Current Balance |
| John Horsburgh | 5,900,000 | 600,000 | 1,750,000 | 7,050,000 |
| Glen Parsons | 8,200,000 | 600,000 | 5,000,000 | 12,600,000 |
| Eric Roth | 5,230,400 | - | 5,000,000 | 10,230,400 |
| John Goodwin | 1,000,000 | - | 1,750,000 | 2,750,000 |
| Total | 20,330,400 | 1,200,000 | 13,500,000 | 32,630,400 |
The issue of these incentive options will result in a non cash flow charge to the 2016 income statement of GBP 613,671.
**ENDS**
For further information please visit website at www.marianaresources.com or contact the following.
| In Australia: | ||
| Glen Parsons (CEO) | Mariana Resources Ltd | +61 2 9437 4588 |
| Eric Roth (COO) | Mariana Resources Ltd | +56 9 8818 1243 |
| Rob Adamson | RFC Ambrian Limited (Nomad) | +61 2 9250 0041 |
| Will Souter | RFC Ambrian Limited (Nomad) | +61 2 9250 0050 |
| In U.K. | ||
| Oliver Stansfield | Brandon Hill Capital (UK Broker) | +44 20 3463 5061 |
| Jonathan Evans | Brandon Hill Capital (UK Broker) | +44 20 3463 5016 |
| Camilla Horsfall | Blytheweigh (Financial PR) | +44 20 7138 3224 |
| Megan Ray | Blytheweigh (Financial PR) | +44 20 7138 3203 |
About Mariana Resources
Mariana Resources Ltd is an AIM quoted exploration and development company with an extensive portfolio of gold, silver and copper projects in South America and Turkey.
Mariana's most advanced asset is the Hot Maden gold-copper project in north east Turkey, which is a joint venture with its Turkish JV partner Lidya (30% Mariana and 70% Lidya). A maiden mineral resource estimate of 2.03 Moz gold Equivalent (Indicated Category) and 0.97 Moz gold Equivalent (Inferred Category) (100% basis) was reported for Hot Maden on August 18, 2015. Elsewhere in Turkey, Mariana holds a 100% interest in the Ergama gold-copper project.
In southern Argentina, the Company's core gold-silver projects are Las Calandrias (100%), Sierra Blanca (100%), Los Cisnes (100%), Bozal (100%). These projects are part of a 160,000+ Ha land package in the Deseado Massif epithermal gold-silver district in mining-friendly Santa Cruz Province. Mariana acquired 100% interests in the Doña Ines gold-silver and Exploradora East copper prospects in northern Chile through the Aegean Metals Group transaction which closed in January, 2015, with Mariana exploration now being funded by Asset Chile through the provision of $1.65m for a total 50% interest.
In Suriname, Mariana has a direct holding of 10.2% of the Nassau Gold project.) The Nassau Gold Project is a 28,000 Ha exploration concession located approximately 125 km south east of the capital Paramaribo and immediately adjacent to Newmont Mining's 4.2Moz gold Merian project.
In Peru, Mariana is focusing on acquiring new opportunities which complement its current portfolio.
HUG#2019476