Arian Announces Result of General Meeting Held Today

March 27th, 2009

Arian Silver Corporation (“Arian” or the “Company”) announces that at a General Meeting of shareholders held today in London, England, approval was given to issue an additional 82,993,679 common shares of the Company to Grafton Resource Investments Ltd (“Grafton”) in connection with the previously announced share exchange transaction with Grafton (see Arian press releases of 27 January, 5 February and 26 February 2009).

The share issue is now subject only to receipt of the final approval of the TSX Venture Exchange (“TSXV”). Following receipt of TSXV approval Arian will issue 82,993,679 common shares at Cdn$0.055 per share equating to approximately Cdn$4,564,653 and Grafton will issue the same dollar value of its ordinary shares to Arian. The number of Grafton ordinary shares to be issued in exchange for the Arian common shares shall be determined by reference to the net asset value per Grafton ordinary share calculated as at the close of business on 31 March 2009.

Following closing of this share exchange Grafton’s share interest in Arian will increase from 14.9% to approximately 42.2% (calculated as at the date hereof).

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

Bishopsgate Communications Limited
Nick Rome
(London) +44 (0)20 7562 3350 / email: Nick.Rome@bishopsgatecommunications.com

Vicarage Capital Limited
Martin Wood
(London) +44 (0)20 7060 1303 / email: martin@vicaragecapital.com

Grant Thornton UK LLP
Gerry Beaney
(London) +44 (0)20 7385 5100 / email: gerry.d.beaney@gtuk.com

CHF Investor Relations
Alison Tullis
(Canada) +1 416 868 1079 Ext. 233 / email: Alison@chfir.com

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

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

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

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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