Arian Silver Reports on Progress at San Jose

April 21st, 2010

Arian Silver Corporation (“Arian” or the “Company”), a silver exploration and development company with a focus on projects in the silver belt of Mexico, is pleased to report on progress at its 100% owned San Jose Property in Zacatecas State in Central Mexico.

Highlights:
  • Further batch of high-grade Phase-2 drillhole assays reported, including:
    • 2.35m @ 834 g/t Ag, 0.36% Pb and 0.67% Zn
    • 3.05m @ 602 g/t Ag, 0.17% Pb and 0.54% Zn
    • 2.00m @ 822 g/t Ag, 0.76% Pb and 0.91% Zn
    • 1.95m @ 379 g/t Ag, 0.08% Pb and 0.32% Zn
  • Contract for the initial mining operation agreed
  • Final bulk metallurgical tests at the proposed custom mill in progress
  • Mining production start-up date anticipated during Q2, 2010
Arian’s San Jose property, covering an area of some 6,300 hectares (ha), is located in Zacatecas State and within the renowned Fresnillo Silver Trend that hosts a number of world-class silver deposits. The San Jose Project concessions include the past producing San Jose Mine, which was operated by a subsidiary of Penoles from 1973 to 1991 and then by Monarca, from 1993 to 2001. In 2001 the mine closed due to the then prevailing low silver prices.

Arian’s President and Chief Executive Officer, Jim Williams, stated, “We are very pleased to now report further high-grade assay results from our Phase-2 drill programme. These latest results confirm management’s view that the higher grade areas initially demarcated on the San Jose Vein (SJV) are even more extensive than previously outlined. The total of the drillhole intercepts received to date cover a strike length of only approximately 10% of the known strike extension within the Project’s concessions. Our planned next phase of drilling will be designed to further define these areas of high-grade mineralization and to continue the exploration of the SJV along its extensive westerly strike direction.

“Meanwhile we have made excellent progress in the last few weeks in advancing San Jose towards initial production in relation to contract negotiations, bulk testing of ore by the proposed mill as well as infrastructure work. We anticipate a production start-up date during the current quarter.”

Phase-2 Drill Programme
The latest batch of 13 drillhole intercepts from the Phase-2 drill programme along the SJV, which complement the initial 19 Phase-2 drillhole intercepts reported previously, includes drillholes SJ-08-070A which intersected 2.35m grading 834 grams per tonne (g/t) silver (Ag), SJ-08-074 which intersected 2m grading 822 g/t Ag and SJ-08-072 which intersected 3.05m grading 602 g/t Ag.

The Phase-2 drill programme, which was completed during Q3, 2008, drilled approximately 6,600 metres (m) in 38 holes. This programme was designed to explore for the continuation of known silver-bearing mineralization identified from Arian’s previous exploration programmes and to test for new areas of mineralization. Several holes were drilled within and beyond the previously reported Phase-1 and Phase-2 holes.

Arian’s past drill programmes along the SJV have so far only delineated some 10% of the known strike length of the SJV, outlining a current total estimated resource(1) of some 43 million ounces of Ag, 120 million pounds of lead (Pb) and some 248 million pounds of zinc (Zn). Arian’s management considers the upside for material additional resources along the SJV to be significant.

It is planned to commence a new drill programme in due course, largely financed by revenue generated from the proposed contract mining operation, with the objective to further define areas of high-grade mineralization by infill drilling and to continue the exploration of the SJV along its extensive westerly strike direction.

Table 1, below, sets out the intersections reported on in this latest batch of Phase-2 assay results.

A plan showing the location of these drillholes in relation to the previously drilled holes of both Phase-1 and Phase-2 is shown in the following link:

http://media3.marketwire.com/docs/arian_silver_map…

(1) See the Company’s press release dated 21 August, 2008, entitled “Arian Silver Upgrades San Jose Resource Estimate”

Production Update
The Company is pleased to report that terms for the contract for the initial contract mining operation have been agreed with the local Mexican contractor.

Final bulk metallurgical testwork is currently underway with the proposed custom mill operator. The preliminary stage of this metallurgical programme entailed the collection of a total of 304 samples weighing a total of 69 kilograms (kg). The test results have been positive returning average head-grade assays of 276 g/t Ag, 1.13% Pb and 2% Zn. Completion of the remaining metallurgical testwork is expected during early May when it is anticipated that contract negotiations will be finalised.

It is anticipated that contract mining at San Jose at the planned initial rate of 500 tonnes per day (tpd) will start during the current quarter.

At the San Jose mine site, the new access road has been completed and mine buildings have been refurbished to accommodate additional offices and to house the mining personnel.

QA/QC Programme
All technical information for the San Jose Project is obtained and reported under a formal quality assurance and quality control (QA/QC) programme. The core is logged and photographed by Arian’s staff and then split using a diamond saw. Half the core is stored on-site in a secure core shed and the other half is sampled, bagged and secured before being transported to a preparation facility in San Luis de Potosi, Mexico. The entire half-core is crushed and two kilograms is pulverized and homogenized. 150-gram pulp samples are then air freighted to OMAC’s (Alex Stewart Group) analytical laboratory in Ireland for analysis. Systematic assaying of duplicates is performed for precision and accuracy, with check assays regularly conducted by OMAC. Each sample has its own unique sample number. The laboratories in San Luis de Potosi and Ireland are ISO 17025 and ISO 9001:2000 accredited.

Approximately 5% of the analysed samples are re-sampled and sent to the ALS Chemex preparation facility in Guadalajara, Mexico. The samples consist of both coarse reject samples and 150-gram pulp samples. The coarse material is crushed and pulverized, and all the pulp samples are air freighted to ALS Chemex’s analytical laboratories in Vancouver, British Columbia, Canada, for analysis. Results from the duplicate analyses are compared to identify potential analytical or sampling errors.

The OMAC and ALS Chemex laboratories are independent of Arian.

The samples were analysed for 32 elements by ICP (inductively coupled plasma), proceeded by an Aqua Regia acid digestion. High-grade samples (silver >200 g/t) are re-analysed by fire-assay with a gravimetric finish.

Additional information with respect to the San Jose Project is contained in

a) a Report prepared by A.C.A. Howe International Limited, dated 22 June, 2009, and entitled “Preliminary Economic Assessment Report (PEAR) on the San José Silver-Lead-Zinc Deposit, Zacatecas, Mexico”; and

b) a Technical Report prepared by A.C.A. Howe International Limited, dated 15 August 2008, and entitled “Resource Estimation Update for the San Jose Silver-Lead-Zinc deposit, Zacatecas, Mexico”.

Copies of these reports can be obtained from SEDAR at www.sedar.com or via the Company’s website, www.ariansilver.com

Qualified Person
Mr. Jim Williams, Eur. Ing., Eur. Geol., BSc., MSc., D.I.C., FIMMM, and Chief Executive Officer of Arian, is a “Qualified 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 data disclosed by this release (including sampling, analytical and test data underlying the information).

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

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

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

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Phase 2 (recent                        Core   True   Silver                

 Drill-hole No.)       From      To  Length  Width       Ag    Lead    Zinc

                         (m)     (m)     (m)    (m)    (g/t)  Pb (%)  Zn (%)

                    --------------------------------------------------------

                                                                           

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SJ-08-070               4.8     5.8       1    0.7      120    0.04    0.08

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SJ-08-070             56.65    59.1    2.45   1.73      132    0.04    0.18

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SJ-08-070             74.95   75.15     0.2   0.14      202    0.07    0.14

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SJ-08-070-A           28.45   28.85     0.4    0.2      194    0.12    0.13

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SJ-08-070-A           73.05    75.4    2.35   1.17      834    0.36    0.67

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SJ-08-070-A          125.15  126.95     1.8    0.9      186    0.12    0.23

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SJ-08-070-A           138.9   140.9       2      1      126    0.26    0.41

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SJ-08-070-A          141.89  142.89       1    0.5      104    0.72     0.7

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SJ-08-070-A           146.9   150.9       4      2      197    2.87    3.72

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SJ-08-071              18.1    19.3     1.2   0.84      358     0.1     037

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SJ-08-071             58.85   60.65     1.8   1.27      167    0.07    0.28

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SJ-08-071             77.64   79.64       2   1.41      248    0.04    0.37

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SJ-08-071             81.64   83.64       2   1.41      154    0.04    0.21

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SJ-08-071-A           82.65   83.25     0.6    0.3      232    0.16    0.42

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SJ-08-071-A            92.2    95.2       3    1.5      189    0.09    0.17

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SJ-08-071-A          132.25  133.25       1    0.5      176    0.59     0.4

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SJ-08-071-A          138.25  140.25       2      1      138    0.21    0.39

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SJ-08-071-A          153.25  154.25       1    0.5      122    0.03    0.52

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SJ-08-071-A          161.24  162.24       1    0.5      310    0.37    0.07

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SJ-08-071-A          163.24  163.99    0.75   0.37      222    4.18    2.53

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SJ-08-072             54.05   57.05    3.05   2.15      602    0.17    0.54

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SJ-08-072             91.35   93.35       2   1.41      103    0.04    0.12

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SJ-08-072             95.35   99.35       4   2.82      116    0.09    0.23

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SJ-08-072            105.35  109.35       4   2.82      166    0.27    0.82

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SJ-08-072            111.35  113.35       2   1.41      126    0.21    0.39

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SJ-08-072            119.35  121.35       2   1.41      129    0.21    0.31

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SJ-08-072-A            89.8    93.8       4   2.82      185     0.1    0.23

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SJ-08-072-A           131.5   132.9     1.4   0.98      145     0.9     0.2

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SJ-08-072-A          144.45  145.45       1    0.7      115    0.12    0.17

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SJ-08-073              13.9    14.6     0.7   0.49      212    0.05    0.22

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SJ-08-073             71.75   72.95     1.2   0.84      141    0.03    0.12

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SJ-08-073              84.8   86.15    1.35   0.95      227    0.17    0.49

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SJ-08-074             90.05    90.7    0.65   0.27      247    0.13    0.65

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SJ-08-074             109.3  110.45    1.15   0.48      188    0.35    0.65

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SJ-08-074            139.45  141.45       2   0.84      822    0.76    0.91

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SJ-08-074             151.8   153.9     2.1   0.88      251    0.64    0.62

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SJ-08-075                49    55.6     6.6   4.66      138    0.02    0.14

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SJ-08-076             79.25    81.2    1.95   0.82      379    0.08    0.32

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SJ-08-076                96    9795    1.95   0.82      255    0.09    0.29

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SJ-08-076            161.45  162.45       1   0.42      148    0.26    0.45

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SJ-08-076-A              16   17.55    1.55   1.09      288    0.06     077

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SJ-08-076-A            85.4    86.6     1.2   0.84      343    0.07    0.23

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SJ-08-085-A          232.25   233.2    0.95   0.54      106    0.46    0.45

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SJ-08-085-A           263.2   264.2       1   0.57      140    0.26    0.51

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SJ-08-102             140.3   142.3       2   1.41    103.6    0.54    5.38

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SJ-08-102            144.85   154.3    9.45   6.68      139    0.22    0.75

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SJ-08-102            160.55  162.55       2   1.41      143    0.16    0.58


About the Company
Arian is a silver exploration and development company and is listed on London’s AIM; trades on London’s “PLUS” market; is listed on Toronto’s TSX Venture Exchange and on the Frankfurt Stock Exchange. Arian is active in Mexico, the world’s second largest silver producing country. The Company’s main projects are the Calicanto and San José projects in Zacatecas State. Arian’s Tepal project in Michoacán State is subject to an exclusive purchase option to Geologix Explorations Inc. Part of Arian’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.

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.

Forward Looking Information
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, the statements in this press release regarding exploration results, potential mineralization, potential mineral resources, expectations to move towards future production 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 or events to differ materially from those discussed in the forward-looking statements, and even if such actual results or events are realised or substantially realised, 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, failure to achieve production in the short term, risks related to the stage of the Company’s projects, uncertainties related to fluctuations in commodity prices 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, forward-looking 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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