Issue of Shares

May 22nd, 2007

Arian Silver Corporation announces that it has issued 110,000 common shares of no par value in connection with an exercise of warrants at Cdn$0.42 per share.

Application has been made for these shares to be admitted to AIM on 29 May 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
.