Mariana Resources

Exploration for Gold / Silver / Copper

Mariana Resources Ltd is an AIM-quoted (MARL) exploration and project development company with a portfolio of projects considered highly prospective for epithermal gold-silver and IOCG (iron oxide copper–gold) deposits, with a focus in Argentina and Chile. Mariana’s exploration strategy is bearing success with the Company announcing in October 2009 an important new gold-silver discovery at its 100% owned Dos Calandrias Project in the prospective Deseado Massif in Santa Cruz Province (southern Argentina). This follows Mariana’s discovery of epithermal silver-gold mineralization in 2008 at its 70% owned Sierra Blanca project, also in the Deseado Massif.

First pass diamond drilling programme at the Calandria Sur prospect at Dos Calandrias interescted wide zones of gold-silver mineralization hosted by a brecciated rhyolite dome. Best intersections were:

• 91.5m @ 1.6 g/t Au and 17 g/t Ag from 3.5m, including 21m @ 4.5 g/t Au and 39 g/t Ag from 40m - hole CSD15.
• 102m @ 1.2 g/t Au and 17 g/t Ag from 7m, including 20m @ 2.6 g/t Au and 39 g/t Ag from 89m - hole CSD13.
• 71m @ 1.1 g/t Au and 23 g/t Ag from 23m, including 27m @ 1.9 g/t Au and 32 g/t Ag from 63m - hole CSD16.

Mineralization is open at depth and laterally with follow-up drilling planned in Q1 2010. Only 400m of the 1500m dome perimeter was tested in the first pass drilling. Bulk tonnage potential is indicated by results to date.

At the Sierra Blanca Project, encouraging epithermal style gold-silver mineralization was discovered over an 1100m trend at Veta Chala in the last quarter 2008. Best intersections included:

• 11m @ 3.4 g/t Au and 386 g/t Ag from 46m - hole SBD51
• 14m @ 2.8 g/t Au and 242 g/t Ag from 31m - hole SBD55
• 21m @ 0.7 g/t Au and 189 g/t Ag from 33m - hole SBR27
• 3m @ 4.3 g/t Au and 236 g/t Ag from 30m in hole SBR38.

Elsewhere in Santa Cruz, Mariana has in excess of 130,000 hectares under application or as approved tenements covering eight groups of epithermal gold-silver targets selected from satellite image analysis.

Mariana is active in the prolific Northern Chile IOCG (Iron Oxide Copper Gold) Belt, with two advanced projects being drilled in Q4 2009. The Mariana team brings together over 150 years of combined industry experience, with a specific South American focus. This includes discovery to mine development as well as successful management of junior companies.

‘Adding Value By Discovery in South America’