Annual General Meeting and Changes to the Board of Directors

December 7th, 2006

Arian Silver Corporation will hold its Annual General Meeting (the “Meeting”) at 10.30am on Friday 29 December 2006 at the 1st Floor, 22 Grosvenor Square, London W1K 6LF.

Subject to shareholder approval and Canadian regulatory approval, it is proposed to appoint James A. Crombie as a Non-executive director of the Company at the Meeting.

James Crombie holds a degree in Mining Engineering from the Royal School of Mines, London. As President, Chief Executive Officer and Director of Palmarejo Gold Corporation, he draws on over 24 years of mining experience including the management of various gold and diamond projects and as a Mining Analyst and a Corporate Financier. He has been the President, Chief Executive Officer and a director of Reunion Gold Corporation, a mining company listed on the TSX Venture Exchange (“TSXV”) since March 2004. Mr. Crombie is also a director of Sherwood Mining Corporation, a copper/gold mining corporation listed on the TSXV. He was previously the President and Chief Executive Officer of Ariane Gold Corp., from May 2002 to November 2003 and was the Vice President, Corporate Development for Hope Bay Gold Corporation from February 1999 through May 2001. Prior to that, he was Mining Analyst/Corporate Finance Director with Yorkton Securities Inc. at the London office from 1991.

In order to reduce his business commitments Merfyn Roberts, a Non-executive director of the Company, has decided to retire from the Board at the Meeting and, accordingly, will not be seeking re-election.

The material relating to the Meeting is available on the Company’s website:

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

The following information is provided in accordance with paragraph 17 and Schedule 2(g) of the London Stock Exchange AIM Rules:

  1. has held within past 5 years the following directorships/partnerships:
    Palmarejo Silver and Gold Corporation
    Reunion Gold Corporation
    Sherwood Copper Corporation
    Ariane Gold Corporation
    Hope Bay Gold Corporation
  2. has no unspent convictions in relation to indictable offences;
  3. has not had any bankruptcy order made against him or entered into any individual voluntary arrangement;
  4. has not been a director of a company which has been placed into receivership, compulsory liquidation, creditors’ voluntary liquidation, administration or which has entered into any company voluntary arrangement or any composition or arrangement with its creditors generally or any class of its creditors, at the time of or within twelve months preceding such events;
  5. has not been a partner of any partnership which has been put into compulsory liquidation, administration or entered into partnership voluntary arrangements, at the time of or within twelve months preceding such event; or
  6. has not been publicly criticised by statutory or regulatory authorities (including recognised professional bodies) or ever been disqualified by a court from acting as a director of a company or from acting in the management or conduct of the affairs of any company.