Holding(s) in company

7 January 2015


1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:iiArian Silver Corporation
2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rightsx
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify):
3. Full name of person(s) subject to the notification obligation:iiiSprott Asset Management LP
4. Full name of shareholder(s) (if different from 3.):ivSee section 9
5. Date of the transaction and date on which the threshold is crossed or reached:v31 December 2014
6. Date on which issuer notified:6 January 2014
(received 7 January 2014)
7. Threshold(s) that is/are crossed or reached: vi, vii14%
8. Notified details:
A: Voting rights attached to sharesviii, ix
Class/type of shares

if possible using the ISIN CODE
Situation previous to the triggering transactionResulting situation after the triggering transaction
Number of SharesNumber of Voting RightsNumber of sharesNumber of voting rights% of voting rightsx
Common Shares4,660,3934,660,3934,453,3934,453,39313.1%
B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrumentExpiration datexiiiExercise/ Conversion PeriodxivNumber of voting rights that may be acquired if the instrument is exercised/ converted.% of voting rights
C: Financial Instruments with similar economic effect to Qualifying Financial Instrumentsxv, xvi
Resulting situation after the triggering transaction
Type of financial instrumentExercise priceExpiration datexviiExercise/ Conversion periodxviiiNumber of voting rights instrument refers to% of voting rights
Total (A+B+C)
Number of voting rightsPercentage of voting rights
9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable:
Sprott Asset Management LP is the portfolio manager acting on behalf of the Sprott Canadian Equity Fund, Sprott Bull/Bear RSP Fund, Sprott Hedge Fund L.P., Sprott Hedge Fund L.P. II, Sprott Master Fund Ltd., Sprott Master Fund II, Ltd., and certain Sprott managed accounts.
Proxy Voting:
10. Name of the proxy holder:
11. Number of voting rights proxy holder will cease to hold:
12. Date on which proxy holder will cease to hold voting rights:
13. Additional information:
14. Contact name:David Taylor
15. Contact telephone number:+44 (0)20 7887 6593

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.