17 February 2014

Mariana Outlines Drill Targets at Soledad Gold-Copper-Silver Prospect in Central Peru 

Mariana Resources Ltd (�Mariana� or �the Company�), the AIM quoted exploration and development company focused in Peru and southern Argentina, announces positive results from channel sampling and mapping at the gold-silver-copper Soledad prospect in Peru (�Soledad� or �the Project�) located in the prospective Cordillera Negra metallogenic province approximately 34 km to the south of the Pierina gold-silver mine operated by Barrick Gold Corporation.  Mariana has an option to earn a 70% interest in Soledad, which is fully drill permitted, through its agreement with Condor Resources Inc. (TSXV:CN) (�Condor�) which wholly owns the Project. (Fig 1&2)

Overview

�         Mapping and outcrop channel sampling completed in January 2014 identified bulk tonnage potential at the northern high sulphidation epithermal/breccia system, a possible concealed central mineralised intrusive, and a surrounding ring of mineralised breccia pipes 

�         1,500 x 1,500m target area previously identified by Condor from a 25Km line of Induced Polarization (see news release 4/11/13) was evaluated

�         Channel sampling returned positive high-grade gold and silver assays from five of the breccia pipe zones sampled

o   At Breccia 1, channel sampling returned 7.8m @ 8.6 g/t Au, 19 g/t Ag and 3.4m @ 7.6 g/t Au, 112 g/t Ag at surface above unconfirmed historic drill intersections

o   Strongly anomalous gold and silver were also returned from channel sampling at Breccias 3, 5 and 7 with best interval 10m @ 1.3 g/t Au 142 g/t Ag in Trench1, Breccia 5

�         Based on latest sampling and mapping results, an initial 2,000m drilling programme is planned for Q2 2014 to test selected targets with five main target areas (A-E) (Fig 4)

Chief Executive Officer, Glen Parsons commented, �These positive sampling results corroborate historic results of strong mineralisation whilst importantly highlighting new target areas with multiple facets over a large area.  In light of these results, 2014 has started with momentum as we gear up for a busy season ahead.  We plan to commence an initial 2,000m scout drill campaign in Q2 2014 which will further test these newly highlighted and historic target areas to prove the Project�s grade and bulk tonnage  gold, silver and copper prospectivity.

�In tandem, we have also been highly active at our potentially large-scale Condor de Oro porphyry project in Northern Peru where, following positive results to date, we recently announced the continuation of our option period with Condor.  This continuation means the imminent drilling of a further three scout holes is set to confirm the potential of a higher mineralised �core zone� at the prospective Pucayacu target.  The wide spaced drilling completed to date indicates that several phases of mineralisation have occurred and relate to a large porphyry complex with multiple diorite and dacite porphyry intrusive events emplaced into volcanic wall rocks, and has enhanced the overall prospectivity of this large system.

�Mariana is extremely pleased with the release of the contractor further to the security announcement last week and continues to assess the situation at Condor de Oro.  Drilling will commence as soon as the company believes working conditions are stable and safe and the local community issues have been resolved.

�With both Soledad and Condor de Oro exploration programmes in progress, we look forward to significant newsflow and updates to our shareholders over the next few months.�

Link to Figures 1-4: http://www.marianaresources.com/pdf/release/Mariana_140217.pdf

Summary of Channel Sampling Results

See Table 1 below and Fig 4, highlights from the 407 samples included

�         7.8m @ 8.6 g/t Au, 19 g/t Ag and 3.4m @ 7.6 g/t Au, 112 g/t Ag, 0.26% Cu (Breccia 1, Trenches 1 & 2)

�         10m @ 1.3 g/t Au 142 g/t Ag  (Breccia 5, Trench 1)

�         25.5m @ 0.2 g/t Au, 41 g/t Ag (Breccia 6, Trench 1)

Table 1 � Channel sampling

Target Areas

Based on the mapping, channel sampling and review of geophysics, the Soledad prospect has been subdivided into a number of zones of interest, some of which contain multiple targets.  Target areas from north to south are summarised below and in Fig 4

Area A � A 500 x 250m target area with high sulphidation epithermal mineralisation with strong-moderate silicification, advanced argillic alteration, sulphidic vuggy silica with strong mercury anomalies up to 35ppm Hg in channel samples and anomalous gold (Condor sampling) with potential breccia pipes at depth (coincident resistivity/chargeability anomalies).  

Area B - Breccia 6 with 25.5m @ 0.2 g/t Au, 41 g/t Ag (Trench 1) and a prominent resistivity anomaly.

Area C � Possible mineralised intrusive, central to the �ring� of breccia pipes indicated by coincident magnetic, resistivity, chargeability anomalies and mapping.

Area D - Multiple breccia pipes hosted by andesites (including Breccias 1, 2, 3, 5 and 7), variable characteristics but typically 30-80m diameter EW, and some showing a combination of a number of pipes.  Breccia sulphides include arsenopyrite, sphalerite, galena chalcoppyrite, pyrite with associated copper oxides, probable silver sulfosalts and gold.  Core zones are silicified with drusy quartz (up to 1 g/t Au and 3) and chalcedonic quartz with sulfide in the breccia matrix (up to 8 g/t Au).  Host andesites display phyllic, argillic, propylitic and silica- tourmaline alteration.  Breccia 5 is the largest breccia pipe with the best geophysical response and promising channel sample results - 10m @ 1.3 g/t Au 142 g/t Ag.   Previous drilling at Breccia 1 in the 1990s is reported to have intersected 61.5m @ 1.9 g/t Au, 146 g/t Ag, 1.8% Cu from 68m (DDH  3).

Area E - Faro is a new target discovered southwest side of the main area of interest and consist of dacitic porphyry with sheeted sulphidic veins with anomalous copper (200 ppm Cu and molybdenum (300 ppm Mo).

Drilling Planned

It is anticipated that 2,000m of Diamond drilling will commence in Q2 2014.  Objectives include initial testing of Epithermal, the intrusive centre, Breccias 3, 5, 6 and 7 and confirmation of Breccia 1 mineralisation as detailed above.

Background

Exploration by Condor

Condor has completed 25.5km line of induced polarization (�IP�) and magnetics, prospecting, mapping and sampling. This has led to the discovery of a large (650 x 450m) zone of intense advanced argillic alteration within the northeastern sector at an elevation of 4,500m (Fig 3). Pervasive quartz-alunite, along with vuggy quartz have been interpreted by Condor to indicate a high sulphidation epithermal system with potential for a gold-copper-silver mineralised intrusive at depth.

An additional eight similar breccia bodies, up to 200m in diameter, have been identified, and are also anomalous in gold and silver.

Previous Exploration

In 1996, a junior exploration company carried out surface sampling, an IP geophysical survey and drilling to test a quartz-tourmaline breccia pipes on what was then a much larger property. Five holes of a twelve-hole programme were drilled on the current Soledad property around Breccia 1 (Fig 4 ) and the best three holes returned the following intersections*:

o   DDH3 61.5m @ 1.9 g/t Au, 146 g/t Ag, 1.8% Cu from 68m hosted by a quartz-tourmaline breccia pipe

o   DDH5 28.5m @ 5.0 g/t Au, 28 g/t Ag, 1.1% Cu from 55.5m

o   DDH2 33.0m @ 2.5 g/t Au from 72m

Option Terms

Under the terms of the LOI, Mariana has the right to acquire a 70% interest in the property within four years by incurring direct exploration costs of US$4,000,000 and making cash and/or share equivalent payments to Condor for a cumulative sum of US$1,125,000. 

ADDITIONAL INFORMATION

Qualified Person

The information in this release has been reviewed by John Horsburgh who is a Fellow of the Australasian Institute of Mining and Metallurgy.  Mr Horsburgh holds a B.Sc in Mining Geology and an M.Sc in Applied Geophysics from the Royal School of Mines, Imperial College, London and has over 40 years experience in mineral exploration and project development worldwide.

Quality Assurance/Quality Control

All technical information for the CDO project is obtained and reported under a quality assurance and quality control (QA/QC) program. ?Samples are shipped to and assayed by the ALS Chemex Laboratory in Lima, Peru, a laboratory whose quality control system complies with International Standards ISO 9001:2000 and ISO 17025:2005. A four-acid digestion with 33 element ICP-AES analysis is conducted on all samples, with silver, lead and zinc being re-analyzed with atomic absorption spectrometry method when analyzing over the ICP limits. Gold is assayed using a fire assay with an atomic absorption spectrometry finish. Systematic assaying of sample duplicates and commercially prepared standards and blanks is performed for analytical reliability.  A secure chain of custody is maintained in transporting and storing of all samples.

*Note the above 1996 drill assay results are historic, have not been verified by either Condor or Mariana, and should not be relied on

**ENDS**

For further information please visit website at www.marianaresources.com or contact the following.

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. In Peru, Mariana has an option to earn a 51% interest in highly prospective copper-gold and copper silver porphyry targets in the Cordillera del Condor of northern Peru as well as an option to earn a 70% interest in the Soledad copper-gold and silver project in Central Peru. In southern Argentina, the Company's core gold-silver projects are Las Calandrias (100%), Sierra Blanca (100%), Los Cisnes (100%), Bozal (100%) and Los Amigos JV (30%). These projects are part of a 200,000+ Ha land package in the Deseado Massif epithermal gold-silver district in mining-friendly Santa Cruz Province.

Safe Harbour

This press release contains  certain statements which may be deemed to be forward-looking statements.  These forward-looking statements are made as at the date of this press release and include, without limitation, statements regarding discussions of future plans, the realization, cost, timing and extent of mineral resource estimates, estimated future exploration expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, and requirements for additional capital.  The words �plans�, �expects�, �budget�, �scheduled�, �estimate�, �forecasts�, �intend�, �anticipate�, �believe�, �may�, �will�, or similar expressions or variations of such words are intended to identify forward-looking statements.  Forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results to vary materially from those expressed or implied by such forward-looking statements, including, but not limited to: the effects of general economic conditions; the price of gold, silver and copper; misjudgements in the course of preparing forward-looking statements; risks associated with international operations; the need for additional financing; risks inherent in exploration results; conclusions of economic evaluations; changes in project parameters; currency and commodity price fluctuations; title matters; environmental liability claims; unanticipated operational risks; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or in the completion of development or construction activities; political risk; and other risks and uncertainties described in the Company�s annual financial statements for the most recently completed financial year which is available on the Company�s website at www.marianaresources.com .  Although we believe that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.  There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking statements.  Accordingly, readers are cautioned not to place undue reliance on forward-looking statements.  We do not undertake to update any forward-looking statements, except in accordance with applicable securities laws.

Felicity Edwards

St Brides Media & Finance Ltd

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