Mariana Resources One2One Investor Presentation 23rd May 2013

1
DISCOVERING GOLD, SILVER & COPPER IN SOUTH AMERICA
London Presentation
2 nd Quarter 2013
Condor de Oro Project
www.marianaresources.com • London Presentation – 2 nd Quarter 2013
LSE AIM: MARL

Disclaimer
2
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Reliance on this promotion for the purposes of engaging in any investment activity may expose an individual to a significant risk of losing all of the
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This presentation (“Presentation”) relating to Mariana Resources Limited (the “Company”) does not constitute or form part of, and should not be
construed as an offer or invitation to sell or issue or any solicitation of any offer to purchase or subscribe for any securities in the Company in any
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By attending this presentation, you agree to be bound by the restrictions in this disclaimer.
www.marianaresources.com • London Presentation – 2 nd Quarter 2013
LSE AIM: MARL

Investment Summary
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• AngloGold Ashanti supportive
major shareholder (19.9%)
• Exposure to company maker drill targets
at Condor de Oro (CDO) Project Peru:
– Option to acquire 51% of large untested
porphyry gold-copper system
– 180-day exclusive to option nearby
intrusive-related base metal target (extended)
– Local Community on-side – final drill permit
progressing – 1,500m minimum commitment
• Mariana adapting to current exploration downturn
in Argentina with strategic focus:
– Major exploration upside – target definition at
Los Cisnes and Bozal – emphasis on high grade
– Strategic bulk tonnage resource and potential
upside at Las Calandrias
“Discovery driven – capacity to advance
projects through the value curve”
www.marianaresources.com • London Presentation – 2 nd Quarter 2013
LSE AIM: MARL

New Strategy for 2013 – Mariana diversifies exploration efforts
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Focus Peru
Opportunity to drill untested Au-Cu porphyry system –
drilling anticipated 1H 2013 – company maker potential
Argentina
Low cost exploration of recent regional discoveries –
targeting high grade with consolidation potential
Board restructured to deliver this strategy
www.marianaresources.com • London Presentation – 2 nd Quarter 2013
LSE AIM: MARL

The Mariana Team – Discovery to Mine Building Experience
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THE BOARD
John Horsburgh
Non-executive Chairman – RTZ, Billiton, Getty, Solpac, Cullen
Glen Parsons
Executive CEO – RFC, Neptune
Dr Eric Roth
Non-executive – AngloGold Ashanti, Extorre
Chris Mitchell
Non-executive – Constellation Copper, CoCa Mines, Orvana,
Viceroy, Endurance Gold, First Point Minerals, Skyline Gold
MANAGEMENT & CONSULTANTS
Sharon Cooper
CFO – Ernst & Young
Ray Angus
Project Manager CDO – Cyprus, Newcrest, Monterrico
www.marianaresources.com • London Presentation – 2 nd Quarter 2013
LSE AIM: MARL

Key Data – AIM : MARL
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Capital structure (30 April 2013)
Shares issued
230.8 M
Options issued
Share price (19 May 2013) 1.83p
Directors and employees – 12.3 M
Others – 0.4 M
Top shareholders
(30 April 2013)
Market capitalisation
£4.22M
AngloGold Ashanti Holdings PLC. 19.9%
12 months high/low 9.00p / 1.25p
Cash position (30 April 2013) £600,000
Hochschild Mining 4.8%
Craton Capital 3.5%
Brokers
Nominated Advisor
RFC Ambrian Ltd
RFC Ambrian Ltd
Australian Investors P/L 3.3%
Directors 4.8%
www.marianaresources.com • London Presentation – 2 nd Quarter 2013
LSE AIM: MARL

Peru – Company Maker Opportunity
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• Major World metal producer
– 2 nd largest silver
– 3 rd largest copper and zinc
– 6 th largest gold, No. 1 in Latin America
• Most mining majors operate in Peru
• Mining provides 61% of the nation's exports
• US$40B expected to be invested over
the next decade
• GDP growth of 6% for 2012
• Lowest annual average inflation
in Latin America
www.marianaresources.com • London Presentation – 2 nd Quarter 2013
LSE AIM: MARL

Cordillera del Condor Belt – Northern Peru
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• 200km belt along Ecuador-Peru border
• Hosts CuAu/CuMo porphyries
& epithermal gold deposits
• Ecuador side –
– Fruta del Norte – Kinross –
13.6M oz Au @ 7.2g/t Au
– Mirador – 25b lbs Cu 4.5Moz Au
• Peruvian side
– Relatively unexplored
www.marianaresources.com • London Presentation – 2 nd Quarter 2013
LSE AIM: MARL

Condor de Oro Project
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• 102km 2 – two 4km 2 untested centres
of mineralisation
• Condor Resources Inc. has granted
options to earn 51% in Pucayacu
Gold-Copper and the Yuracyacu
Copper-Silver Properties
• Mariana can acquire 51% in each by
spending US$12.5M in 4 years + cash/share
payments of US$2.5M for each
• Min commitment at Pucayacu is
US$500,000 Year 1, incl. 1,500m drilling
• Mariana’s consultant, Ray Angus, has specific
N Peruvian experience in advancing early
exploration projects to resource stage
Mineralised Zone with Basecamp
www.marianaresources.com • London Presentation – 2 nd Quarter 2013
LSE AIM: MARL

Pucayacu – Major Gold & Base Metal Bulk Tonnage Potential
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• Pucayacu – Large Au-Cu
system hosted by Quartz
Feldspar Porphyry
• Mineralised centre defined by
mapping, geochem and magnetics
• Coincident gold and multi-element
rock/soil/stream sediment
anomalies
• Classic alteration zonation
• Prominent magnetic lows
• Placer gold in drainages
• No previous drilling
Quartz Feldspar Porphyry-Disseminated Sulphides
www.marianaresources.com • London Presentation – 2 nd Quarter 2013
LSE AIM: MARL

Pucayacu – Central Zone – Intense Alteration & Mineralisation
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• Quartz-sericite + Pyrite/
Chalcopyrite/Covellite, Bornite
• Disseminations/stockworks/veinlets
• Quartz-sericite-clay + limonite
Quartz Feldspar Porphyry Stockwork
Mineralised Quartz Feldspar Porphyry
www.marianaresources.com • London Presentation – 2 nd Quarter 2013
LSE AIM: MARL

Pucayacu – Coincident Gold & Multi-element Geochemistry
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Helicopter Support
Altered Mineralised QFP 2.2 g/y Au & 7g/t Ag
www.marianaresources.com • London Presentation – 2 nd Quarter 2013
LSE AIM: MARL

Pucayacu – Copper Geochemistry
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Leached Capping
Secondary Copper Occurance
www.marianaresources.com • London Presentation – 2 nd Quarter 2013
LSE AIM: MARL

Pucayacu – Coincident Magnetic Lows
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• Geophysical interpretation of Magnetic lows suggest two centres of mineralisation
www.marianaresources.com • London Presentation – 2 nd Quarter 2013
LSE AIM: MARL

Pucayacu – Drill Plan – Priority Central Zone
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• 20 drill platforms – first level
of permitting (DIA)
• Targeting 2 x 2km area
• Wide spacing – 300-400m x 500m
• 1,500m minimum end Q2/2013
• 7 priority holes
• Drilling subject to final approvals
– in progress
Main Helipad looking North
www.marianaresources.com • London Presentation – 2 nd Quarter 2013
LSE AIM: MARL

Condor de Oro Project – Community Agreement In Place
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• Los Naranjos Native Community
• 5 year access agreement in place to
conduct initial exploration including drilling
• Maximum environmental responsibility and
social inclusion and participation at all times
• Community meeting November 2012
with leaders of each annex to introduce
Mariana as the new project operator
• Community reconfirmed full support for
the CDO project
www.marianaresources.com • London Presentation – 2 nd Quarter 2013
LSE AIM: MARL

Condor de Oro Project – Community Support
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• Continual social investment and trust building
for Sustainable Development.
• Coffee Nursery Program fully operative with
120,000 plants distributed and additional
120,000 seedlings germinating.
• Electrical installation for 48 families in Los
Naranjos. Repair of generator.
• Construction of new Community hall in
ChimiChimi Annex.
• Education initiative with 2013 back to school
campaign for 230 primary students.
www.marianaresources.com • London Presentation – 2 nd Quarter 2013
LSE AIM: MARL

Gold-Silver Discoveries – Deseado Massif Santa Cruz Argentina
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• 2013 focus – high grade focus,
emphasis on target definition
• Advanced Projects
– Los Cisnes (100%) – large
domefield discovery – bulk
tonnage/high grade potential
– Bozal II & III (100%) – new targets,
high grade potential
– Sierra Blanca (100%)
– Los Amigos JV (30%) – partner HM
• Las Calandrias Resource Base (100%)
– dome-related epithermal system
discovered 2009
– 519Koz AuEq initial resource
(492K oz indicated)
– bulk tonnage and high grade
www.marianaresources.com • London Presentation – 2 nd Quarter 2013
LSE AIM: MARL

Los Cisnes – Rhyolite Domefield Discovery – 100% Mariana
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• Bulk tonnage/high grade
gold-silver potential
• 9000 Ha – 75km SW Cerro Moro
• 32km 2 EL
rhyolite domefield – multiple
EL
BOZAL
IV
zones gold/silver mineralisation
• Extensions under cover?
• El Solar
– 5km 2 – 300 x 600m
Calandrias-style rhyolite breccias
– 10 float samples 0.5-3.4 g/t Au
• El Brio
– 700m striking vein-breccias
up to 3m wide
– 250m with 8 samples
31-716 g/t Ag, and one
0.8m @ 3,849 g/t Ag
• Target definition underway
– mapping, lag, mag, IP
BOZAL II
EL BOZAL
III
EL BOZAL I
LAS CALANDRIAS
PROJECT
8 km
LAS
CALANDRIAS
Rhyolite Domes
Volcaniclastics
Drill Holes
Vein-breccia
Magnetic Linears
Intrusive at Depth?
Resource Outline
Los Cisnes Project
Lithology Legend
Alluvial cover
Chalcedonic
sulfide rich br eccias.
Chalcedonic
Vein-Breccia
Opaline-chalcedonic
quartz
LCs_Assay Au_ppm
TONGORIL I
500m
Concession boundary
El Nido Sur
3.4 g/t Au &
39 g/t Ag
2 g/t Au &
4 g/t Ag
Pichones
Brecciated
El Nido Oeste
Rhyolite Dome.
El Nido Centro
El Nido Este
500m
El Solar
El Nido Norte
La Calandria
Vein-Breccia
Calandria Sur Zone
0 250
metres
La Despreciada Zone
El Brío
Calandria Norte
Calandria Sur
El Brio – Channel Sampling
500
1.2 g/t Au &
3 g/t Ag
Alluvial
Cover
3 g/t Au &
3849 g/t Ag
Alluvial
Cover
Alluvial
Cover
Destello
Alluvial
Cover
www.marianaresources.com • London Presentation – 2 nd Quarter 2013
LSE AIM: MARL

Las Calandrias – Grass Roots Gold-Silver Discovery – 100%
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EL
BOZAL
IV
EL
BOZAL II
EL BOZAL
III
EL BOZAL I
LAS CALANDRIAS
PROJECT
8 km
LAS
CALANDRIAS
Rhyolite Domes
Volcaniclastics
Drill Holes
Vein-breccia
Magnetic Linears
Intrusive at Depth?
Resource Outline
TONGORIL I
Pichones
El Nido Oeste
El Nido Centro
El Nido Este
0 250 500
metres
El Nido Norte
La Despreciada Zone
Calandria Norte
• Large dome system
– bulk tonnage &
high grade potential
• 44,000m – 326 holes
• Indicated 11.8Mt @
1.2 g/t AuEq (17 g/t Ag)
• Inferred 0.9Mt @
1.0 g/t AuEq (5 g/t Ag)
Concession boundary
El Nido Sur
La Calandria
Vein-Breccia
Calandria Sur Zone
Calandria Sur
• 519K oz AuEq Initial
Resource – 491K
Indicated & 28K Inferred
43-101 compliant
• Nearest settlement – 75km
• Estancia – purchased 2011
• Highway – 18km
• Gas pipeline – 14km
• New grid power – 15km
• Airstrip – 15km
• Puerto Deseado – 3 hours
www.marianaresources.com • London Presentation – 2 nd Quarter 2013
TYPICAL SECTION
LSE AIM: MARL

Concession Boundary
Calandria Sur – Initial Resource 441K oz AuEq Indicated/Inferred
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Resource estimate –
43-101 Compliant
Resource Outline
Diamond Drillhole Collars
DRILL PLAN
• 92 diamond holes – 50 x 25m
– MDA, Reno – 11/7/11
• Indicated –
11.0Mt @ 1.21 g/t AuEq (6.5Moz Ag)
• Inferred –
0.5Mt @ 0.90 g/t AuEq
• 30% Au & Ag – oxide / transition
2009-2010 Collars
Rhyolite Dome
Volcaniclastics
200 metres
442K oz
AuEq
Met testwork recoveries
200 metres
• Oxide:
– heap leach – 80% Au
& 55% Ag
– carbon-in-leach – 95% Au
& 90% Ag
• Primary:
– selective flotation – 82% Au
& 83% Ag
– sulphide con. @ 1.5ozs
gold 25ozs silver pt
www.marianaresources.com • London Presentation – 2 nd Quarter 2013
LSE AIM: MARL

Calandria Sur-Escondido – Combined 1600m Strike
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Escondido
• 11,500m drilling over 1.6km
• Best intersections:
– 100m @ 1.2 g/t Au 8 g/t Ag
– 0.7m @ 136 g/t Au 157 g/t Ag
• Edison Report – 370k oz AuEq
“potential resource”
www.marianaresources.com • London Presentation – 2 nd Quarter 2013
LSE AIM: MARL

Las Calandrias/Bozal/Tongoril – 500km 2 in Emerging Gold-Silver District
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• Mariana first discovery late 2009
• Subsequent discoveries
– Escondido (Minera IRL) – dome-related
– Falcon (Extorre) – volcaniclastic-hosted
– El Monte (Renaissance-Agnico) –
dome breccias
• 8 companies in district – consolidation potential
BOZALITO
BOZAL II
– Vein-breccias
up to 16.5 g/t Au
& 302 g/t Ag
El MONTE PROJECT
(RenGold-Agnico)
– Dome-breccias to
12 g/t Au 622 g/t Ag,
IP anomaly
BOZAL III
BOZAL II
ARGENTEX
Domes /
veins breccias
Gold discoveries
to date
Mariana
Target area
Estancia
Calandria
10 km
BOZAL III
– Breccias up to 6.2 g/t Au
– Vein-breccias up to 6.0 g/t Au
• Mariana most advanced project
and major land position
• Bozal II & III – new target areas
RENAISSANCE
– AGNICO
BOZAL IV
BOZAL I
MIRASOL
LEONA
DORMIDA
HOCHSCHILD
– IAMGOLD
FALCON
(Yamana)
TONGORIL I
EXTORRE
EXTORRE
MIRASOL
MINERA IRL
LAS CALANDRIAS
IAMGOLD
MINERA
IRL
PIUQUENES
LAS CALANDRIAS
PIUQUENES
ESCONDIDO
(Minera IRL)
FORMICRUZ
– DESEADO
EXTORRE
www.marianaresources.com • London Presentation – 2 nd Quarter 2013
LSE AIM: MARL

Investment Summary
24
• AngloGold Ashanti supportive
major shareholder (19.9%)
• Exposure to company maker drill targets
at Condor de Oro (CDO) Project Peru:
– Option to acquire 51% of large untested
porphyry gold-copper system
– 180-day exclusive to option nearby
intrusive-related base metal target
– Local Community on-side – drill permit
progressing – 1500m minimum
• Mariana adapting to current exploration downturn
in Argentina but focus in E Deseado:
– Major exploration upside – target definition at
Los Cisnes and Bozal – emphasis on high grade
– Strategic bulk tonnage resource and potential
upside at Las Calandrias
“Discovery driven – capacity to advance
projects through the value curve”
www.marianaresources.com • London Presentation – 2 nd Quarter 2013
LSE AIM: MARL

25
DISCOVERING GOLD, SILVER & COPPER IN SOUTH AMERICA
Mariana Resources Ltd
Level 5, 22 Atchison Street
St Leonards NSW 2065 Australia
Glen Parsons – Executive CEO
Phone: +61 2 94374588
Email: glen@marianaresources.com
www.marianaresources.com • London Presentation – 2 nd Quarter 2013
www.marianaresources.com
LSE AIM: MARL