London, England, Arian Silver Corporation (“Arian” or the “Company”) announces its intention to file a technical report including a summary of operational details and economic factors.
The British Columbia Securities Commission (the “Commission”) has reviewed the Company’s independent technical report, compiled by CSA Global Limited (“CSA”) and dated 23 April 2012 (the “2012 Report”), which was published for the primary purpose of updating investors with the results of the 10,000 metre phase 4 drilling programme at Arian’s San José property.
The Commission’s review of the 2012 Report identified areas of non-compliance with the Canadian standards of disclosure for mineral projects, (“NI 43-101”). The updated technical report will address these points and will be filed on SEDAR shortly.
The areas of disclosure do not impact the Company’s estimated mineral resources or any quarterly production or financial results previously reported.
As the Company’s independent 2009 preliminary economic assessment report (“PEA”) was not current at April 2012, but was cross-referenced in the technical report, the document is deemed not to comply with the requirements of NI 43-101; the updated economic analysis will correct this.
When the PEA was published in 2009, Arian had not commenced either contract mining or toll milling. The Company’s trial mining and milling operations since then, together with internal metallurgical test-works, the upgraded mineral resource estimate, and mine development work, enable the economic assessment to be updated with more refined figures.
A further announcement will be made when the technical report is filed.
For further information please contact:
| Arian Silver Corporation Jim Williams CEO (London) +44 (0)20 7887 6599 [email protected] | Arian Silver Corporation David Taylor Company Secretary (London) +44 (0)20 7887 6599 [email protected] |
| OR | OR |
| Grant Thornton Corporate Finance Gerry Beaney / Philip Secrett / David Hignell (London) +44 (0)20 7383 5100 [email protected] | Yellow Jersey PR Limited Dominic Barretto (London) +44 (0)7768537739 [email protected] |
| OR | OR |
| XCAP Securities PLC Jon Belliss (London) +44 (0)20 7101 7070 [email protected] | CHF Investor Relations Juliet Heading (Canada) +1 416 868 1079 x 239 [email protected] |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) and no stock exchange, securities commission or other regulatory authority accepts responsibility for the adequacy or accuracy of this release nor approved or disapproved of the information contained herein.
