Grant of Options to Directors and Share Interest

January 20th, 2011

Grant of Options to Directors and Share Interest

Grant of Options
Transaction notified on 19 January 2011 relating to grant of stock options under the Company’s Stock Option Plan as follows:

A J Williams — option granted in respect of 3,500,000 common shares of no par value. Total of 4,250,000 options in respect of common shares of no par value now held:

J T Williams — option granted in respect of 3,500,000 common shares of no par value. Total of 4,250,000 options in respect of common shares of no par value now held:

T A Bailey — option granted in respect of 650,000 common shares of no par value. Total of 850,000 options in respect of common shares of no par value now held:

J S Cable — option granted in respect of 650,000 common shares of no par value. Total of 850,000 options in respect of common shares of no par value now held:

J A Crombie — option granted in respect of 650,000 common shares of no par value. Total of 1,200,000 options in respect of common shares of no par value now held:

Option terms: options granted on 19 January 2011 exercisable at 49.25p or Cdn$0.79 per share up to 18 January 2016, subject to a four months hold period from date of grant.

Share Interest
The Company received a notification on 19 January 2011 that Mr R Humphreys has an aggregate interest in 11,271,500 common shares representing approximately 3.74% of the voting rights of the Company, compared to an interest in 13,999,500 common shares previously disclosed.

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

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.
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