Issue of Shares

October 27th, 2008

Arian Silver Corporation announces that it has issued 17,500,000 common shares of no par value in connection with the private placement at Cdn$0.10 per that closed on 24 October 2008.

Application has been made for these shares to be admitted to trading on AIM on 31 October 2008.

Voting Rights and Capital

The Company’s capital now comprises 149,051,969 common shares of no par value each with voting rights. None of these common shares are held in Treasury.

The total number of voting rights in the Company is 149,051,969.

The above figure of 149,051,969 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to the interest in, the Company under the FSA’s Disclosure and Transparency Rules.

Changes in director’s share interests

Transaction notified on 24 October 2008.

On 24 October 2008 James Crombie, a director of the Company, acquired 1,500,000 common shares of no par value of the Company at Cdn$0.10 per share.

For further information please contact:

Arian Silver Corporation
Graham Potts — CFO and Corporate Secretary
(London) +44 (0)207 529 7511 / email: gpotts@ariansilver.com

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in this release.
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