Arian Acquires San José Mine

December 13th, 2006

13 December 2006 - Arian Silver Corporation (“Arian” or the “Company”) announces today that it has acquired an exclusive option over 100% of the San José silver-base metal property (the “San José Property” or the “Property”) in Zacatecas State, Mexico, from Minera Servicios Mineros San Gerardo (“Minera San Gerado”), S.A. de C.V. The Property lies some 55 kilometres (km) to the southeast of Zacatecas, within the silver-rich Ojocaliente mining district.

The San José Property covers two mining concessions, expiring in June 2032, totalling approximately 4,000 hectares. The Property includes the workings of the San José Mine, which was in operation from 1973 to 2001, a number of mine buildings and a 400 tonne per day (tpd) shaft. The mine is also accessed by a 4 metre (m) by 4m decline haulage ramp, which extends 2km to the east and 1km to the west.

Arian’s Chief Executive Officer, Jim Williams, said, “The acquisition of the option over the San José Property represents a further major advance for Arian, and has significantly enhanced our “brown-field” land holding within Mexico and specifically within Zacatecas State. San José fits with our strategy of acquiring projects with significant upside for silver ounces in the ground and has the potential to be exploited using bulk underground mechanized mining techniques. Although it only has a 400 tonne per day shaft, the San José Mine has a significant haulage ramp in place that was used to exploit ore in its more recent operational history. We believe the full potential of the mine has not yet been tapped, especially after reviewing the data for the ground we hold contiguously along strike in both directions.

The option agreement is for a three-year term. Assuming that the option is exercised in full, Arian will pay Minera San Gerardo US$1.5 million, in instalments, over the three-year period and will also grant Minera San Gerado a Net Smelter Return (NSR) of 2%. Arian has the right to withdraw from the option agreement at any time during the three-year term without financial penalty. Arian has made the initial payment of US$70,000 to the vendor. The payment schedule is outlined below:
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INSTALMENTS                    AMOUNT
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Initial payment        US $    70,000
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At 3 months            US $    70,000
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At 6 months            US $   110,000
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At 12 months           US $   200,000
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At 18 months           US $   250,000
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At 24 months           US $   300,000
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At 36 months           US $   500,000
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Total:                 US $ 1,500,000
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Mining within the Ojocaliente district began in the 16th century when rich silver ores were discovered and exploited. In 1963, Minera Frisco (“Frisco”), explored the San José Property and defined 400,000 tons of argentiferous material. In 1967, Frisco sold the Property to Zimapan S.A. de C.V. (“Zimapan”), a subsidiary of Minera Peñoles, operator of the Fresnillo Mine, located approximately 50 km north of the City of Zacatecas.

Zimapan operated the property from 1973 until 1991, extracting approximately 917,000 tons of material grading 228 g/t Silver, 0.22 g/t Au, 1.5% Lead, 2.37% Zinc, and 0.08% Cu. In 1992, Zimapan ceased operations at the San José Property because of the high transportation costs and low metals prices.

In 1993, De Sarrollo Monarca (“Monarca”), acquired the Property, and operated the mine at 400 tonnes per day. In 2001, Monarca closed the mine as high transportation costs made the operation un-economic.

Arian’s Senior Geologist in Mexico, Matt Booth, said “The main vein on the Property is the San José vein, which has been traced on surface for 5 kilometres, and is between 2 and 18 metres wide. Historical mining focused on the eastern portion of the vein, where it was mined from surface to a depth of nearly 300 metres. However, no significant mining appears to have occurred on the western portion of the vein, although Zimapan had defined a number of near-surface reserve blocks that we believe could be additional ore-shoots. The objective of our initial exploration efforts will be to delineate a significant Canadian National Instrument (NI) 43-101 and/or Joint Ore Reserve Committee (JORC) resource estimate”.

For further information please contact:

In London :

Jim Williams / Alexandra Harrison,
Arian Silver Corporation
+44 (0)20 7529 7511

Tim Blackstone,
Britton Financial PR
+44 (0) 20 7251 2544

Mike Jones / Ryan Gaffney,
Canaccord Adams Limited
+44 (0)20 7050 6500

In Vancouver:

Investor Relations,
Vanguard Shareholder Solutions
+1 (604) 608 0824
Toll free: 1866 898 0825

Arian Silver Corporation is a silver exploration company listed on London’s AIM and “PLUS”, on Toronto’s TSX Venture Exchange and on the Frankfurt Stock Exchange. Arian is active in Mexico, the world’s largest silver producing country. The Company’s main projects are the Calicanto and San Celso projects in Zacatecas state, the Tepal project in Michoacán State and the newly acquired San José Property in Zacatecas State. Part of Arian’s forward-looking strategy lies in the envisaged use of large scale mechanised mining techniques over wider mineralised structures, which reduces the overall operating cost per ounce of silver, and to build up NI 43-101 compliant resources.

Arian was founded by Jim Williams and Chairman Tony Williams, who together have over 50 years experience in exploration, project construction and mining worldwide. Arian is supported by the Dragon Group in London, and the Endeavour Group in Canada.

Further information can be found by visiting Arian’s website: www.ariansilver.com or the Company’s publicly available records at www.sedar.com.

Mr. Jim Williams, Eur Ing, MSc, DIC, FIMMM, CEng, CGeol, and Chief Executive Officer of Arian, is a “Competent Person” as defined in the AIM guidelines of the London Stock Exchange, and a “Qualified Person” as defined in the Canadian Securities Administrators National Instrument 43-101. This press release has been prepared under Mr. Williams’ supervision. Mr Williams has verified the information disclosed by this release.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in this release.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This press release contains certain “forward-looking statements”. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding mineral reserves and mineral resources, exploration results, potential mineralization, and the Company’s exploration and development plans and objectives) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, uncertainties relating to the availability and costs of financing needed in the future, changes in commodity prices, changes in equity markets, political developments in Mexico, changes to regulations affecting the Company’s activities, delays in obtaining or failures to obtain required regulatory approvals, the uncertainties involved in interpreting exploration results and other geological data, and the other risks involved in the mineral exploration and development industry. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forwardlooking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
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