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TSX Venture Exchange
Trading Symbol: ARC
VANCOUVER, June 24, 2013 /CNW/ - Arian Resources
Corp. ("Arian" or the "Company") - ARC:
TSX-V.
Mr. Zahir ( Zip ) Dhanani, President and
CEO of Arian, is pleased to announce that Arian's wholly-owned
subsidiary, JAB Resources SHPK ("JAB") has received a
classification notice letter (the "Notice Letter") from the
Ministry of Economy, Trade and Energy Bid Evaluation Commission
(the "Ministry") of the Republic of Albania.
The Notice Letter is in response to JAB's offer
in the tender procedure in respect of a copper exploitation permit
which is valid for 25 years (the "Permit"). The letter
thanked the company for participating in the tender process held on
Aril 11, 2013, and declaring JAB as the winner for the Exploitation
Permit concerning Area No. 190/1, Iballja object, Shkodra Region,
in Albania (the
"Property").
JAB has also received a second letter from the
Ministry dated June 20, 2013. The
Notice Letter confirms that JAB is entitled to apply to the
National Licensing Center ("NLC") for the final issuance of
the license. The company will be lodging its application with NLC
for the 1.74-square-kilometre copper exploitation permit and is
expecting to be granted the license in the near term.
The Ministry specified a number of criteria in
the Notice Letter including a planned investment value of
approximately US$1.5 million and a
minimum production of 20,000 tonnes/year to be realized in
connection with the Property.
Zahir ( Zip ) Dhanani, President and CEO
of Arian, comments: "Arian is delighted to be expanding its
exploration efforts in Albania
into the copper sector. With its strategic partnership with
Sinomine International Exploration (Hong
Kong) Holding Co. Ltd. in connection with the Kacinar Gold
Project and now a potential copper project in the Shkodra Region,
Arian could become one of the most substantial mineral exploration
companies in Albania."
JAB has commenced its application to the NLC and
Arian will advise of future developments as they arise.
About the Property
The Iballja project area hosts an advanced
exploration copper project which has been the focus of exploration
since 1982 and was owned by the Albanian Geological Survey.
At the time of the tender process the geological survey
announced in the bid documentation that there were 48,000 tonnes of
reserves which are non 43-101 compliant. This mineralization
consists of sulphides hosted within metamorphosed basaltic
rocks.
During the period from 1982 to 1992 further
exploration on the project was conducted by British and Iranian
groups. A total of 1,367 metres of drilling was completed.
This work detected several additional mineralized areas
within the concession.
Arian is currently assembling this historic data
to provide a better understanding of the mineralization. The
previous work on the project, though not 43-101 compliant, allows
Arian to establish an exploration target for future
exploration of the project of 40,000 to 80,000 tons grading 1.5 to
2.5% copper. Note that both the tonnage and grade of this
exploration target are conceptual in nature and there has been
insufficient exploration to define a mineral resource and it is
uncertain if further exploration will result in the target being
delineated as a mineral resource.
Chad Ulansky,
P.Geo., is the "qualified person" under National Instrument 43-101
who has reviewed the technical disclosure in this news release and
is responsible for the technical information contained in this
release.
ON BEHALF OF THE BOARD OF DIRECTORS
Zahir Dhanani,
President & CEO
Arian Resources Corp.
About Arian Resources Corp.
Arian Resources Corp. is a junior mineral
exploration company with a focus on the exploration of prospective
mineral properties in Albania.
This news release may contain forward-looking
statements including but not limited to comments regarding the
timing and content of upcoming work programs, geological
interpretations, receipt of property titles, completing an
application with the NLC, closing the transaction with Sinomine
International Exploration (Hong
Kong) holding Co. Limited in respect of the Kacinar Gold
Project and potential mineral recovery processes. Forward-looking
statements address future events and conditions and therefore
involve inherent risks and uncertainties. Actual results may differ
materially from those currently anticipated in such statements and
Arian undertakes no obligation to update such statements, except as
required by law.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Arian Resources Corp.