• Strategy developed on the basis of a probabilistic approach to maximise the odds of exploration success.
• Targeting based on the Mineral Systems Model, specifically in the context of volcanic arcs.
• Focused primarily on exploring for major precious metal deposits, particularly those that have potential scalability.
• Secondary focus on technology metals, specifically copper, which contribute to the development of a greener economy.
• Exploration focused on areas with high preservation potential, with a particular emphasis on discovering covered deposits.

• Average of 21,000 ounces gold per annum, production  commenced in 2017.
• US$490 per ounce average cost of production (lower quartile).
• Enhanced throughput from 2021 due to capacity increase up  to 400,000 tpa. steady-state.
• Further four year mine life expected at enhanced processing  rate, with additional upside for further discovery.

• 30,000 ounces gold per annum, expected from feasibility  study.
• Production expected to commence in early 2023, following  EIA related permitting and land acquisition.
• US$630 per ounce cost of production.
• Eight year mine life expected through further extension.

• US$8 million already committed in cash to the  project by Ozaltin Holding.
• 50,000 ounces gold per annum, over a 10 year  mine life projected in scoping study.
• 1.5 million ounce gold JORC Measured, Indicated  and Inferred Resource with scope for further  growth.
• Au-Ag mineralisation at Salinbas lies immediately  adjacent to the Ardala polyphase Au-Cu-Mo  porphyry.
• Highly prospective region within the multi-million  ounce Artvin Goldfield, which contains 4Moz Hot Maden project 16km to the south.
• Further drilling underway leading to further  resource definition.

• 50%: partnership with Semarang Enterprises Ltd.
• Developing advanced projects & near-term production.
• 11Mt @ 0.34% copper at the Apliki Mine development  project (50:50 partnership with HCM).
• 16.6Mt @ 0.45-1.10% copper at the Magellan Project.
• Significant gold recently identified in drilling at the  Magellan Project e.g. 129m @ 0.5% Cu + 0.55g/t Au.

• 75%: partnership with specialist board having regional  expertise and a track-record of success.
• Eastern European exploration portfolio targeting the  discovery of major copper-gold mineral systems.
• 300km2 of initial licence areas applied for in Kosovo.
• Project assessments underway elsewhere across  Eastern Europe.

• Taking positions in predominantly listed exploration  companies.
• Investing in potentially high-value discovery-stage  opportunities, showing early development potential.
• Projects selected on the basis of a proprietary Project Catalytic Strategy.
• Selected projects receiving ≤ A$500,000 in capital and  time, including expert assistance from the Ariana team.
• Investments timed optimally for maximum value  accretion over near-term horizons.
• Track-record of success with 100-fold increase of value in investments to date.
• Current investments: Panther Metals Ltd, Pallas Resources

Özaltın Holding A.Ş. – A private conglomerate active in Turkey and several other  countries, in the construction, transportation, energy, tourism and  agriculture sectors. Recent large-scale construction projects  include hydroelectric dams, with installed annual power  production capacity of 5.5 billion KWh and the Istanbul-İzmir Motorway Project of which it is a 22-year consortium partner.

Proccea Construction Co. – A private engineering, procurement, construction and  management company providing construction, infrastructure and  industrial services to public and private clients. The company  specialises in the design, installation and operation of heap leach,  carbon-in-leach (“CIL”) and carbon-in-pulp (“CIP”) processing  plants globally.