Ariana Resources : Corporate Presentation April 2023

London Investor Briefing

April 2023

DIVERSIFIED EXPLORATION & DEVELOPMENT

Exploration success funded by production

AIM: AAU

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Forward-looking Statements

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Core Strategy

Ariana leverages several competitive advantages

Proven exploration track record Industry-leading exploration and production costs Confidence of robust international and local partners Strong cash position

Multi-commodity,multi-region, exploration & development strategy

Deployment of cutting-edge exploration technologies Development of in-house skills to deliver results efficiently Leverage of in-country expertise in diverse regions

Investment Highlights

Multiple Advanced Projects	Board and Management Team
Kiziltepe Mine: producing asset	Proven track record in discovery and adding significant value at
Tavsan Mine: construction-stage asset Profit share*	minimal cost to shareholders
Salinbas Project
Magellan Project#

High-performing & Dividend Paying

Significant return on investment since 2016, inclusive of dividends

£7.74M in dividends paid to shareholders since 2021

Strong Financial Position

Significant cash and no debt; consistently in profit since 2016 Funding ongoing exploration success

Active Drill-stage Exploration

Diversified Risk

36,000m diamond drilling completed in FY21&22 Further drilling underway

Across commodities, jurisdiction and stage of projects, including active investments in discovery opportunities

JORC Resources & Reserves	Major Partners
>2Moz gold* resources in Turkey, with further expansion	Newmont Mining Corporation: Western Tethyan Resources
expected and growing copper-gold resource base in Cyprus	Ozaltin Holding, Proccea Construction: Zenit Madencilik

* Gold-silver projects via 23.5% ownership of Zenit Madencilik (and affiliates)

# Copper-gold projects via 58% ownership of Venus Minerals (see note on Venus slide)

Board of Directors

Michael de Villiers B. C. PROFESSIONAL ACCOUNTANT (SA) MIOD

CHAIRMAN - Corporate Financier

30 years' experience as financial manager at mining and chemicals operations in Africa, Eastern Europe and the United Kingdom; previously CFO of Eurasia Mining plc, Finance Director of Mercator Gold (now ECR Minerals plc), Oxus Gold plc and Navan Mining plc.

Kerim Sener BSc (Hons) MSc DIC FGS PhD

MANAGING DIRECTOR - Founder and Exploration Geologist

24 years' experience in Africa, Australia and Europe; responsible for directing the discovery of over 4.3Moz of gold in southeastern Europe since 2007, mainly for Ariana. Co-founder of four listed exploration companies in the UK, Australia and Canada, all having provided substantial investment returns to early investors. Directly involved in raising over US$120M in capital for exploration and development projects in Australia and Turkey. Non-exec Chairman of Panther Metals Ltd (ASX: PNT), an investee company of Ariana.

Chris Sangster BSC (HONS) ARSM GDE FIMMM

NON-EXECUTIVE - Mining Engineer

35 years' experience in Africa, Canada and the United Kingdom. Previously General Manager of Caledonia Mining Corporation, Vice President Mining Services of KCM plc in Zambia. Co-founded Scotgold Resources (AIM/ASX).

William Payne BA (HONS) ACA

NON-EXECUTIVE - Chartered Accountant

30 years' experience initially with KPMG in London, later becoming a partner in top 20 accountancy practice Wilkins Kennedy LLP, prior to their absorption in to Azets, in which he remains as regional CEO.