Mariana Resources Ltd / Epic: MARL / Market: AIM / Sector: Gold
                               Mining

    Mariana Resources' right to acquire 100% of the Sierra Blanca
         High-Grade Silver-Gold Project, Southern Argentina

Mariana Resources Ltd ('Mariana Resources' or 'the Company'), the AIM
quoted exploration and development company focussed in Argentina  and
Chile, has secured an option ('the Option') to acquire the  remaining
30% interest in the  Santa Cruz Joint Venture  ('the Santa Cruz  JV')
from IAMGOLD Corporation  ('IAMGOLD').  The Santa  Cruz JV  comprises
the Sierra  Blanca  and  Canadon  Largo  silver-gold  projects  ('the
Projects') in  the emerging  Deseado Massif  gold-silver district  in
Southern Argentina.

Overview

  * Two year option to acquire remaining 30% interest in Santa Cruz
    JV from IAMGOLD
  * The Option may be exercised by paying US$500,000 and issuing the
    equivalent of US$500,000 in Mariana Resources shares to IAMGOLD
  * IAMGOLD will be awarded a 1.5% royalty on net smelter returns
    from any commercial mineral production from the two projects
  * Focus on the Sierra Blanca silver-gold project, which has a
    multiple epithermal vein system with high grade silver drill
    intercepts - 3,000m drill programme planned Q2 2010


Mariana  Resources  Managing  Director  John  Sutcliffe  said,  "This
agreement, which gives Mariana 100% control of the Santa Cruz JV,  is
an  important  step  forward  and   will  enable  us  to   fast-track
exploration at the  Sierra Blanca silver-gold  discovery in  Southern
Argentina.  With this in mind, we are planning to test for  concealed
silver-gold targets along the 4 km long Veta Chala - Lucila trend  in
Q2 2010 to further assess the economic potential of the project.

"I would like to  thank IAMGOLD for its  support and commitment  over
the past fours years, during which time our partnership has delivered
some  real  successes,  including   the  Sierra  Blanca   silver-gold
discovery."

IAMGOLD's Senior V.P. Exploration Michael Donnelly said, "The  Sierra
Blanca project is  demonstrating promising  potential for  developing
into a silver deposit similar to those found in the Deseado  precious
metals district of  Santa Cruz.  Although  the exploration upside  is
intriguing, the  commodity  mix  and  area  falls  outside  IAMGOLD'S
current  corporate  objectives.   However,  the  new  agreement  with
Mariana will safeguard  our commercial interest  in the property  and
help move the project ahead. We have enjoyed our working relationship
with  Mariana  on  the  joint   venture,  and  wish  them   continued
exploration success."

The Santa  Cruz  Joint Venture  -  Option to  acquire  remaining  30%
interest

The Santa  Cruz JV  comprises  the Sierra  Blanca and  Canadon  Largo
projects, which are centrally located in the emerging Deseado  Massif
gold-silver  district  in  Southern  Argentina.   Mariana   Resources
originally earned a 70% interest in the Santa Cruz JV in January 2009
by conducting a US$2 million exploration programme.

The Company has now  secured an option to  acquire the remaining  30%
interest  in  the  Santa  Cruz   JV  from  IAMGOLD  for  an   initial
consideration of  1,000,000 Mariana  Resources shares  which will  be
issued to IAMGOLD.  Mariana Resources must also complete a minimum of
1,500m of drilling on the Sierra Blanca and Canadon Largo  projects.
The Option can then be exercised within the two year period by paying
IAMGOLD US$500,000  and  the  equivalent  of  US$500,000  in  Mariana
Resources shares, based on the 15 days volume weighted average  price
on AIM when the option is exercised.  IAMGOLD will be granted a  1.5%
royalty on net smelter returns from any commercial mineral production
from the two projects.

Sierra Blanca silver-gold Project

Mariana  Resources  discovered  epithermal  vein  style   silver-gold
mineralisation at the Sierra Blanca Project along the Veta Chala  and
Lucila  target  areas  in  2008  following  a  two-year   exploration
programme,  which   included   5,500m  of   drilling.    Best   drill
intersections included 11m  @ 3.4 g/t  Au and 386g/t  Ag from 46m  in
hole SBD51 and  21m @  0.7 g/t Au  and 242  g/t Ag from  31m in  hole
SBD55.   A  review  of results,  undertaken  with the  assistance  of
consultant epithermal  specialist  Dr. R.  H.  Sillitoe, in  Q1  2009
indicated potential  for  vein type  economic  ore shoots  along  the
1,200m long Veta Chala zone with 3,500m of infill and deeper drilling
recommended, in addition to drill testing of other targets - see news
release dated 2 March 2009.

The  Company   now   aims   to  conduct   an   Induced   Polarisation
chargeability-resistivity survey along the Veta Chala - Lucila  trend
at the Sierra  Blanca Project,  in the search  for concealed  bonanza
silver mineralisation.   This  will be  followed  by a  3,000m  drill
programme focussed on the priority targets - Veta Chala and Lucila  -
anticipated to commence Q2 2010.

                              **ENDS**

See website www.marianaresources.com  for accompanying diagram.


John Horsburgh (Chairman)           Mariana Resources Plc +61 2
                                                          94374588
John Sutcliffe (MD)                 Mariana Resources Plc +593 99
                                                          808080
Rob Adamson                         RFC Corporate Finance +61 2 9250
                                    Limited (Nomad)       0041
Will Souter                         RFC Corporate Finance +61 2 9250
                                    Limited (Nomad)       0050
Joe Lunn (Analyst)                  FinnCap (Broker)      +44 20 7600
                                                          1658
Matthew Robinson                    FinnCap (Broker)      +44 20 7600
                                                          1658
Felicity Edwards                    St Brides Media and   +44 20 7236
                                    Finance Ltd           1177
Hugo De Salis                       St Brides Media and   +44 20 7236
                                    Finance Ltd           1177


Additional Information
The  exploration  programme  is  being  directed  by  the   Argentina
Exploration Manager,  Dr Gustavo  A. Rodriguez  under supervision  of
Managing Director Mr John Sutcliffe.  Exploration information in this
announcement has been compiled by John  Sutcliffe who is a Fellow  of
the Geological Society of London,  a Chartered Engineer and a  Member
of  the  Institute  of  Mining  and  Metallurgy.   Mr  Sutcliffe  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.
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) programme.  All samples are collected under the supervision
of the Company geologists and dispatched via commercial transport to
ALS Chemex laboratories in Mendoza, Argentina, and assayed in
Santiago de Chile.  ALS Chemex'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 100 g/t silver are assayed using gravimetric analyses.
Systematic assaying of sample duplicates and commercially prepared
standards and blanks is performed for analytical reliability.

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