Holding(s) in company

10 August 2015

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESⁱ
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:ⁱⁱ	Arian Silver Corporation
2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights	✓
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:ⁱⁱⁱ	Sprott Asset Management LP
4. Full name of shareholder(s)(if different from 3.):^iv	See section 9
5. Date of the transaction and date on which the threshold is crossed or reached: ^v	28 July 2015
6. Date on which issuer notified:	10 August 2015
7. Threshold(s) that is/are crossed or reached: ^{vi, vii}	3.7% (was 13.1%)
8. Notified details:
A: Voting rights attached to shares ^{viii, ix}
Class/type of sharesif possible using the ISIN CODE	Situation previous to the triggering transaction	Resulting situation after the triggering transaction
Number of Shares	Number of Voting Rights	Number of shares	Number of voting rights	% of voting rights ^x
Direct	Direct ^xi	Indirect ^xii	Direct	Indirect
Common Shares	4,453,393	4,453,393	1,243,893		1,243,893	3.7%
B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument	Expiration date ^xiii	Exercise/ Conversion Period ^xiv	Number 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 Instruments ^{xv, xvi}
Resulting situation after the triggering transaction
Type of financial instrument	Exercise price	Expiration date ^xvii	Exercise/ Conversion period ^xviii	Number of voting rights instrument refers to	% of voting rights ^{xix, xx}
Nominal	Delta

Total (A+B+C)
Number of voting rights	Percentage of voting rights
1,243,893	3.7%
9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: ^xxi
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