Mariana Resources Ltd.: New Gold-Silver Targets at Bozal II

Mariana Resources Ltd.: New Gold-Silver Targets at Bozal II and III,
NW of Las Calandrias Project, Santa Cruz, Argentina 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/28/12 -- Mariana
Resources Ltd ('Mariana' or 'the Company') (TSX:MRY)(AIM:MARL), the
AIM and TSX quoted exploration and development company focused in
southern Argentina, Chile and now Peru (see News Releases 4/10/12 &
19/10/12), is pleased to announce additional positive results from
regional exploration of its extensive portfolio in the eastern
Deseado Massif, Santa Cruz (Figure 1).   

--  A large NW-SE trending zone (1.7 x 0.5-km) of quartz-sulphide
    veins/stockworks and breccias hosted by porphyritic andesites has been
    discovered at Bozal III, 35km NW of Las Calandrias Gold-Silver Project 
--  Sulphidic breccia grab rock chips at Bozal III assay up to 6.2 g/t Au
    and related NW-SE vein-breccias assay up to 6.0 g/t Au 
--  Nearby Bozal II is an early stage prospect, also with grab rock chips of
    sulphidic vein-breccias assaying up to 16.5 g/t Au and 302 g/t Ag 
--  These new target areas are just east of the El Monte rhyolite dome
    greenfields discovery by Agnico and Renaissance Gold Inc ("RenGold")
    where dome margin breccias assay up to 12 g/t Au and 622 g/t Ag. 

Commenting today, Chairman John Horsburgh said, "These additional
results from Mariana's eastern Deseado portfolio at Bozal II and III
highlight a prospective new area in proximity to the Las Calandrias
resource, just NW of Las Calandrias. The Mariana team has
successfully applied its knowledge of the Las Calandrias discovery to
generate new priority target areas, as they have done at Los Cisnes
to the south." 
Santa Cruz Regional Exploration 
A campaign of first and second pass exploration was carried out over
Mariana's extensive properties in the Eastern Deseado Massif, ranging
from Bozalito in the north to Los Cisnes in the south (Figure 1).
Approximately 30 target areas were generated by Mariana's Santa Cruz
team based on Landsat image processing. Areas were investigated using
a combination of reconnaissance mapping and geochemical prospecting.  
Over 400 rock chip grab samples of float and outcrop were collected
in this phase at Bozalito, Tongoril II, Bozal I-IV, Leona Dormida,
Tres Leones, Aguila/Magnolia, Canadon Pofiado I and Los Cisnes
(Figure 1). These grab samples are selective by nature and are
unlikely to represent average grades of the deposits. 
Bolzal Project - (100% Mariana)  
Promising target areas have been outlined at Bozal II and Bozal III
(concessions totaling 14,900 Ha), located 30-35km NW of Las
Calandrias (Figure 2). These target areas are located just east of
rhyolite dome-related mineralisation discovered by Agnico and
Renaissance Gold Inc ("RenGold") at El Monte where dome margin
breccias assay up to 12 g/t Au and 622 g/t Ag (RenGold website).  
Bozal III  
At Bozal III, a large zone (1.7 x 0.5km) of veins and breccias system
trending NW-SE with sulphidic breccias assaying up to 6.2 g/t Au and
at least two related NW-SE sulphide-rich vein-breccias up to 6.0 g/t
Au has been discovered. A total of 36 rock chip grab samples have
been collected with results shown in Figure 3. The mineralised system
has bulk tonnage potential and is partly covered by basalt and
gravels. This new target area is 5 km SW of the Bozal II target. 
Bozal II  
Bozal II is in a window of prospective Chon Aike volcanics in a
possible caldera setting with resurgent dome features (Figure 4).
Sulphidic quartz veinlets (some with visible gold) and breccias are
hosted by rhyolite dykes and porphyritc andesites. This
mineralisation is related to a 1.5km long NW-SE trending structure. A
total of 8 rock chips ranged from 0.7 to 16.5 g/t Au and 13 to 302
g/t Ag. Previous Mariana sampling had returned up to 1.9 g/t Au and
302 g/t Ag. A total of 110 rock chip grab samples were collected.  
Work Planned  
Potential for both bulk tonnage and high grade vein-breccias is
indicated in the Bozal areas and follow-up will include mapping, rock
chip sampling, lag sampling and ground magnetics to outline drill
Links to Figure 1-4: 
Exploration Information 
Exploration information in this announcement has been compiled by
John Horsburgh, who is a Fellow of the Australasian Institute of
Mining and Metallurgy. Mr Horsburgh has sufficient experience
relevant to the style of mineralisation and types of gold deposit
under consideration and to the activity that he is undertaking to
qualify as a Competent Person as defined in the JORC Code. Mr
Horsburgh is a qualified person within the meaning of National
Instrument 43-101, Canada. 
Quality Assurance/Quality Control  
All technical information for the Company's Argentina projects is
obtained and reported under a quality assurance and quality control
(QA/QC) program. All samples are collected under the supervision of
the Company geologists and dispatched via commercial transport to
Alex Stewart laboratories in Mendoza, Argentina, and assayed in
Chile. Alex Stewart's quality system complies with the requirements
for the International Standards ISO 9001:2000 and ISO 17025: 1999.
Samples returning greater than 10 g/t gold and/or greater than 200
g/t silver are assayed using gravimetric analyses. Systematic
assaying of sample duplicates and commercially prepared standards and
blanks is performed for analytical reliability.  
For further information please visit website at 
About Mariana Resources  
Mariana Resources Ltd is an AIM and TSX quoted exploration and
development company with an extensive portfolio of gold, silver and
copper projects in South America. In southern Argentina, the
Company's core gold-silver projects are Las Calandrias (100%), Sierra
Blanca (100%), Los Amigos JV (30%) and Aguila-Picadero (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. In Chile, Mariana has a joint venture with US based
international mining and natural resources company Cliffs Natural
Resources Inc., to explore for iron oxide-copper-gold deposits in a
92,000 km2 area in north-central Chile along the highly prospective
Atacama Fault Zone. 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. 
On 19 December 2011, Mariana announced that AngloGold had completed a
strategic placement whereby AngloGold was issued 45,000,000 shares in
Mariana at a price of 12 pence per share. AngloGold has the right to
maintain its equity of 19.9% in Mariana in further issues by Mariana. 
Safe Harbour  
This press release contains "forward-looking information" within the
meaning of Canadian securities legislation ("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 and silver; misjudgments 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
information form and MD&A for the most recently completed financial
year available on SEDAR. 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. 
Incorporated in Guernsey registered number 44276 
In Australia:
Mariana Resources Ltd
John Horsburgh
+61 2 94374588 
Mariana Resources Ltd
Glen Parsons
+61 2 94374588 
RFC Ambrian Limited (Nomad)
Rob Adamson
+61 2 9250 0041 
RFC Ambrian Limited (Nomad)
Will Souter
+61 2 9250 0050 
In U.K.:
St Brides Media and Finance Ltd (PR)
Felicity Edwards
+44 20 7236 1177 
RFC Ambrian Limited (Co UK Broker)
Klara Kaczmarek
+44 20 7634 4725 
Fox Davies Capital (Co UK Broker)
Jonathan Evans
+44 20 3463 5000 
In Canada:
Mariana Resources Ltd (Vancouver Office)
Kathryn Witter
+1 604 669 9336
Press spacebar to pause and continue. Press esc to stop.