Issue of Shares

March 26th, 2007

Arian Silver Corporation announces that it has issued 652,000 common shares of no par value in connection with an exercise of 152,000 warrants at US$0.175 per share and 500,000 options at £0.15.

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