AIM: MARL

7 September 2015

Suite 102, 3 Eden Street

North Sydney, NSW 2060

Australia

Mariana Terminates the Soledad Earn in Option in Peru

Mariana Resources Ltd ("Mariana" or the "Company"), the AIM listed exploration and development company with projects in South America and Turkey, announces that it has provided Condor Resources Inc. ("Condor") (TSXV:CN) with notification of termination of the earn in option agreement for the Soledad Copper‐Gold‐Silver Project, Central Peru.

Mariana completed 2,084m of drilling on the Soledad Project in 2014, which led to the discovery of near surface, high grade copper‐gold mineralisation hosted in tourmaline breccia pipes. These high grade breccia pipes are of limited tonnage potential, therefore subsequent exploration activities (such as deep sensing IP) were focused on the targeting of a deep (>500m), potentially mineralized intrusive/porphyry source. Drilling these deep targets represents significantly elevated discovery risk and cost to the Company, therefore Mariana believes it prudent to withdraw from this option agreement and focus on Turkey and the balance of Mariana's highly prospective portfolio.

Chief Executive Officer, Glen Parsons today commented:

"Mariana's strategic commitment is focussed exploration on its portfolio of assets; however expenditures associated with this deeper drilling have considerably higher risks and costs. This decision to withdraw comes at a time when financial discipline is required given current market conditions.

"Under the terms of the Option Agreement, and in order to complete its 70% earn in at Soledad, Mariana would have had to make future payments to Condor of US$975,000 and expenditure in the ground of a further $3,000,000.

"In the current market Mariana believes these deeper porphyry targets are not sustainable for junior explorers, unless early success in the actual porphyry itself can be achieved with economic grade being the defining factor.

"Therefore, considering these factors and in light of Mariana's on‐going participation in the exciting Hot Maden gold‐copper discovery in Turkey, as well as our highly prospective portfolio, the Board has decided to terminate the option agreement with Condor. Mariana does remain committed to Peru as a highly prospective region and we will continue to look for lower cost project acquisition opportunities."

As a result of this decision Mariana will make a provision to write off the Soledad project in Peru for

$1.25 million in the 2015 accounts.

**ENDS**

Qualified Person

The information in this release has been reviewed by Eric Roth, Chief Operating Officer and Executive Director of Mariana Resources. Mr 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 is a Fellow of the Society of Economic Geologists (SEG). Mr Roth 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. In Australia:

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 NE Turkey, which is currently being advanced by our Turkish JV partner Lidya under an earn‐in agreement to a 70% interest. 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 Suriname, Mariana has an option to earn up to a 50.01% interest in Nassau Gold Limited, a JV company between Mariana and Sumin Resources Limited ("Sumin") which in turn holds an option to earn up to 80% of the Nassau Gold Project. The Nassau Gold Project is a 28,000 Ha exploration concession located approximately 125 km SE of the capital Paramaribo and immediately adjacent to Newmont Mining's 4.2Moz Au Merian 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 200,000+ 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 Au‐Ag and Exploradora East Cu 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.

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.