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Re: News Releases - Friday, April 04, 2008
PURCHASE OF TAVSAN PROJECT
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4 April 2008
AIM / PLUS Markets: AAU

PURCHASE OF TAVSAN PROJECT

Ariana Resources plc ('Ariana' or 'the Company'), the gold
exploration and development company focused on Turkey, is pleased to
announce that it has signed a Heads of Agreement for the purchase of
the Tavsan Project (the 'Tavsan Project') which comprises a total of
10 licences, from Odyssey Resources Limited (TSX-V: ODX) ('Odyssey').

Highlights


* Purchase of 100% of the Tavsan Project from Odyssey



* Removal of an earn-back right held by Teck Cominco Arama ve
Madencilik Sanayi Ticaret A.S. ('TCAM'), a subsidiary of Teck
Cominco Limited



* Revised royalty structure on the Tavsan Project with TCAM


Dr. Kerim Sener, Managing Director, commented:

'We are pleased to have concluded this agreement with Odyssey
Resources and TCAM. The Tavsan Project demonstrates merit as a low
capital-cost heap leach project which complements our growing
portfolio of resource development opportunities in western Turkey.

'The addition of the Tavsan Project to the Company gives us total
resources of approximately 270,000 ounces gold equivalent. We plan
to undertake additional drilling on the Tavsan Project to add
resources and to initiate a scoping study for a heap leach
operation.'

Heads of Agreement

The Heads of Agreement relates to the sale of ten exploration
licences ('Licences') in Turkey owned by Odyssey's subsidiary, Pusula
Madencilik San. ve Tic. Ltd. ('Pusula'), collectively known as the
Tavsan Project, to Galata Madencilik San. ve Tic. Ltd. ('Galata'), a
subsidiary of Ariana.

Completion of the transaction is subject to:

1. The requisite Turkish regulatory authorities recording Galata
as the registered owner of a 100% interest in the Licenses;

2. Conclusion of a complementary agreement between Galata and
TCAM;

3. TSX Venture Exchange approval;

4. The receipt by Ariana of requisite regulatory approval.

As consideration for the transfer of the Licences, Ariana has agreed
to pay Odyssey:

1. A non-refundable deposit of US$250,000 in cash on a
definitive agreement relating to the transfer of the Licences; and

2. A deferred payment of US$250,000 in cash, and the equivalent
of GBP 150,000 in ordinary shares in the capital of Ariana (the
'Shares') at an issue price of 5 pence per Share (collectively the
'Deferred Payment'). The Deferred Payment will be held in escrow
until the transfer of the Licences is accepted by the Turkish General
Directorate of Mining Affairs. The Shares will be subject to a 12
month hold period which will run from the date on which TSX Venture
Exchange approval is received for the transaction.

TCAM

In conjunction with the agreement with Odyssey, TCAM has agreed to
waive its earn-back rights with respect to the Tavsan Project and to
modify its Net Smelter Returns royalty, in exchange for six licences
held by Galata in the Canakkale area of northwest Turkey, so that:

1. Where the principal metal product is gold/silver, TCAM's
royalty entitlement from the Tavsan Project will be a 1% Net Smelter
Return on the first 100,000 ounces (gold equivalent) of production,
rising to 1.5% Net Smelter Return on the next 100,000 ounces (gold
equivalent) of production and a 2% Net Smelter Return on any
production thereafter; and

2. Where the principal metal product are metals or minerals
other than gold/silver, TCAM's royalty entitlement will be a 2% Net
Smelter Return.

Contacts:


+-------------------------------------------------------+
| Ariana Resources plc | Tel: 020 7407 3616 |
|----------------------------------+--------------------|
| Michael Spriggs, Chairman | |
|----------------------------------+--------------------|
| Kerim Sener, Managing Director | |
|----------------------------------+--------------------|
| | |
|----------------------------------+--------------------|
| Beaumont Cornish Limited | Tel: 020 7628 3396 |
|----------------------------------+--------------------|
| Roland Cornish | |
|----------------------------------+--------------------|
| | |
|----------------------------------+--------------------|
| Bankside Consultants | Tel: 020 7367 8888 |
|----------------------------------+--------------------|
| Michael Padley / Louise Davis | |
|----------------------------------+--------------------|
| | |
|----------------------------------+--------------------|
| Loeb Aron & Company Limited | Tel: 020 7628 1128 |
|----------------------------------+--------------------|
| Peter Freeman / Frank Lucas | |
|----------------------------------+--------------------|
| | |
|----------------------------------+--------------------|
| City Capital Corporation Limited | Tel: 020 7842 5867 |
|----------------------------------+--------------------|
| Charles Dampney | |
|----------------------------------+--------------------|
| | |
+-------------------------------------------------------+





Editors' note:

About Ariana Resources

Ariana is a dynamic exploration and development company focused on
epithermal gold-silver and porphyry copper-gold deposits in Turkey.
The Company is exploring a portfolio of prospective licences selected
on the basis of its advanced in-house remote-sensing database.

The Company's flagship asset is the Sindirgi Gold Project, which
targets a series of prospects, within a prolific mineralised district
in western Turkey. The project hosts over 45km of gold-silver
bearing epithermal quartz veins. This project is presently being
advanced through a scoping study to define options for its economic
development.

Loeb Aron & Company Limited and City Capital Corporation Limited are
joint 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.

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Copyright (c) 2008 ARIANA RESOURCES PLC (AAU) All rights reserved.
For more information visit our website at
http://www.arianaresources.com/ or send mailto:info@arianaresources.com
Message sent on Fri Apr 4, 2008 at 2:56:53 AM Pacific Time
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