The Company has issued 16,200,000 common shares of no par value in connection with the exercise of 15,500,000 share purchase warrants at 10 cents (Canadian) per share and 700,000 share purchase options at 5.5p per share. Application has been made for these shares to be admitted to London’s AIM on 24 January 2011.

As a result of this share issue, the Company has in issue 300,989,112 common shares, with voting rights.

For further information please contact:

Arian Silver Corporation
Carlyle House
235-237 Vauxhall Bridge Road
London SW1V 1EJ
England

Jim Williams – CEO
(London) +44 (0)20 7963 8670 / email: jwilliams@ariansilver.com

Graham Potts — CFO & Corporate Secretary
(London) +44 (0)20 7963 8670 / email: gpotts@ariansilver.com

Grant Thornton Corporate Finance
Gerry Beaney
(London) +44 (0)20 7383 5100 / email: gerry.d.beaney@gtuk.com

XCAP Securities PLC
John Grant / Karen Kelly
(London) +44 (0)20 7101 7070 / email: John.Grant@xcapgroup.com /Karen.Kelly@xcapgroup.com

Yellow Jersey PR Limited
Dominic Barretto
(London) +44 (0)20 8980 3545 / email: dominic@yellowjerseypr.com

CHF Investor Relations
Cathy Hume
(Canada) +1 416 868 1079 / email: cathy@chfir.com