MARIANA RESOURCES ANNOUNCES GLOBAL PRIVATE PLACEMENT

TORONTO, Nov. 30 /CNW/ - Mariana Resources Limited ("Mariana" or the "Company") (AIM:MARL), an exploration and development company focused in Argentina and Chile, is planning to undertake a global private placement (the "Global Private Placement") to raise gross proceeds of £6.2 million (approximately C$9.9 million) at a price of 40 pence per ordinary share. The Global Private Placement will be comprised of the following components:

1. placement to investors in North America ("North American Placement"), pursuant to the Exemptions (as hereinafter defined), led by Paradigm Capital Inc. and including GMP Securities L.P.; and
2. placement to investors outside of North America brokered by finnCap Limited and including the Company's nominated adviser, RFC Corporate Finance Limited.

The securities issued under the North American Placement will be offered by way of Private Placement exemptions (the "Exemptions") in all the provinces of Canada and in the United States on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the "U.S. Securities Act").

Both components of the Global Private Placement are to be closed simultaneously with identical commercial terms and conditional on each other.

The net proceeds from the Global Private Placement will be used to accelerate the exploration of the Company's project portfolio in Argentina and Chile, and for general corporate and working capital purposes. The Company's primary focus will be to fast-track exploration drilling at its flagship Las Calandrias gold discovery, located in the prospective Deseado Massif gold district in southern Argentina, to define a resource and evaluate the economic potential of the project.

Each component of the Global Placement is scheduled to close on or about December 9, 2010 and will be subject to certain conditions and regulatory approvals.

This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the ordinary shares in any state in which such offer, solicitation or sale would be unlawful. The ordinary shares have not been registered and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws. Accordingly, the ordinary shares may not be offered or sold in the United States or to U.S. persons (as such terms are defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws or an exemption from the registration requirements is available.

Cautionary Statement Regarding Forward-Looking Information

This news release contains forward looking information. Such forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could", or "might" occur or to be achieved and any other similar expressions. In providing the forward-looking information in this news release, the Company has made numerous assumptions regarding: (i) the accuracy of exploration results received to date; (ii) anticipated costs and expenses; (iii) that the results of economic analysis are positive; and (iv) that future exploration results are as anticipated. Management believes that these assumptions are reasonable. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those contained in the forward-looking information. Forward-looking information is based on estimates and opinions of management at the date the statements are made. Except as required by law, Mariana does not undertake any obligation to update forward-looking information even if circumstances or management's estimates or opinions should change. Readers should not place any reliance on forward-looking information.

About Mariana

Mariana is an AIM quoted exploration and development company with an extensive portfolio of gold, silver and copper projects in Argentina and Chile. In Argentina, in addition to the Las Calandrias gold-silver discovery project, the Company owns the Sierra Blanca silver prospect and has a joint venture with Hochschild Mining. Mariana also owns exclusive exploration rights to a 160,000 Ha area. All of these projects are located in the Deseado Massif gold district in mining-friendly Santa Cruz province of southern Argentina, which hosts four gold/silver mines and several notable bonanza type precious metal prospects.

In Chile, Mariana has a joint venture agreement with US based international mining and natural resources company Cliffs Natural Resources Inc., to explore for Iron Oxide-Copper-Gold deposits ('IOCG') in a 92,000 km² area ('SCM Mariana Area') in north-central Chile. The SCM Mariana Area includes two Iron Oxide Copper Gold ('IOCG') exploration projects in the highly prospective Atacama Fault Zone, approximately 100 km from Freeport's Candelaria Copper Mine: the 44km² Buenaventura and 46km² Perro Chico projects.



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Please visit website at www.marianaresources.com or contact the following.

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