Mariana Resources - Soledad Gold-Copper Project in Peru Moving Ahead- Due Diligence Complete

Mariana Resources Ltd (�Mariana� or �the Company�), the AIM quoted exploration and development company focused in Peru and southern Argentina, is pleased to announce that following successful due diligence, it is proceeding with the option to earn a 70% interest in Condor Resources Inc. (TSX-V:CN) (�Condor�) 100% owned 7.13 sq km gold-silver-copper Soledad prospect in Peru (�Soledad). The Soledad property is located in the prospective Cordillera Negra metallogenic province in the central Peruvian Andes approximately 34 km to the south of the Pierina gold-silver mine operated by Barrick Gold Corporation (Figure 1 and 2), and is fully drill permitted (Figure 3).

Overview

�                     The Soledad Project contains a high sulphidation epithermal system, with potential for a gold-copper-silver mineralised intrusive at depth. Advanced argillic-type alteration assemblages predominate in the northern (higher elevation) portion of the Soledad property, with at least eight gold-silver-copper bearing breccia pipes known in the south (Fig3).  

�                     Historic drilling* confirms prospectivity of the Project with previous best assays of:

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

�                     Only one of the eight breccia pipes identified on the Soledad property has been drill tested to date � significant upside potential

�                     A drill permit was approved in July 2013 with agreements in place with land owners

�                     Mining district, with a current sizeable private underground mining operation adjacent to the Soledad property, chasing high sulphur epithermal veining

Mariana Resources Chief Executive Officer Glen Parsons said, �We are delighted to announce the completion of due diligence and our decision to proceed with our option to acquire 70% of this exciting gold-silver-copper project. Soledad has been historically drilled with compelling grades and offers a mineralised breccia complex, a potential high sulphidation epithermal target as well as a deep intrusive related anomaly.  It is our intention over the next few months to perform a systematic soil and rock sampling programme, in addition to better integrating existing geophysical data, to define drill targets with the view of commencing drilling in H1 2014.  Encouragingly, the San Gregorio mining operations (privately held) located immediately adjacent to Soledad lie along structural corridors that trend into the property and further corroborate our view on the upside potential.

�This completion also follows close on the heels of commencing drilling at our Condor del Oro gold-silver-copper option project, a potentially large porphyry system also in Peru, and complements Mariana�s diversification strategy into this mineral-rich country. I look forward to the results of the intended exploration programme going forward at both of our Peru projects as well as building on our existing partnership with Condor Resources.�

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

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 (Figure 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.

Exploration Targets

Condor considers Soledad to be a hydrothermal breccia complex along with a high sulphidation gold-silver epithermal system at higher elevations.  In addition, the combined distribution of the mineralized breccia pipes and anomalous geophysical data may indicate the presence of a potential gold-silver-copper mineralised intrusive at depth.  The historical drilling has only been conducted in one of the breccia pipes (Breccia #1), with the other [eight] breccia pipes on the Soledad property remaining untested.

Following a more in-depth review of the property, a likely drill programme will include verification of the reported 1996 intersections of Breccia #1, testing of several of the newly discovered breccias on the property, and initial drilling of the high sulphidation epithermal system discovered in the northeastern sector.

Option Terms

Under the terms of the Letter of Intent (�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.  A non-refundable US$25,000 payment was made on signing the LOI giving Mariana an exclusive due diligence period of 45 days. Terms of the option agreement are as below:

A Definitive Agreement containing industry standard terms and conditions is in the process of being finalised.  Upon Mariana earning a 70% interest in Soledad, the parties will form a joint venture in accordance with their respective interests to further develop the properties.

Links to Fig 1,2 and 3: http://www.marianaresources.com/pdf/release/Mariana_130916a.pdf

**ENDS**

Qualified Person's Statement

The information presented in this press release has been reviewed by Eric Roth, Director of Mariana Resources and is considered to be in compliance with NI 43-101 reporting guidelines. Dr. Roth holds a Ph.D. in Economic Geology from the University of Western Australia, is a Fellow of the Australian Institute of Mining and Metallurgy (AusIMM), and has 25 years of experience in international minerals exploration and mining project evaluation.

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.

About Condor:

Condor was incorporated in 2003 by field exploration specialists focused on the generation of precious and base metals projects in South America. The Company's long term objective is the discovery of a major precious/base metals deposit through its portfolio of properties in Peru and Chile.

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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