Issue of Shares

October 16th, 2007

Arian Silver Corporation announces that it has issued 40,000 common shares of no par value in connection with an exercise of warrants at Cdn$0.42 per share. Following the admission of these shares to AIM, the issued share capital will consist of 111, 515, 969 common shares of no par value each with voting rights.

Application has been made for these shares to be admitted to AIM on 22 October 2007.

For further information please contact:

Graham A. Potts - Company Secretary
Arian Silver Corporation
43 North Audley Street
London, W1K 6WH
Tel: +44 (0) 20 7529 7511
Fax: +44 (0) 20 7491 2244

Gerry Beaney / Fiona Kindness
Grant Thornton UK LLP
Tel: +44 (0) 20 7358 5100
Fax: +44 (0) 20 7383 4715
.