Allotment of Shares

July 4th, 2006

Arian Silver Corporation announces that it has issued 300,000 shares of no par value in connection with an exercise of stock options at Cdn$0.12 per share.

Application has been made for these shares to be admitted to AIM and it is expected that they will be admitted on 7 July 2006.

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