Arian Silver Issue Of Shares

October 29th, 2010

The Company has issued 375,000 common shares of no par value in connection with the exercise of 100,000 share purchase warrants at 10 cents (Canadian) per share and 275,000 share purchase options at 5.5p per share. Application has been made for these shares to be admitted to London’s AIM on 2 November 2010.

As a result of this share issue, the Company has in issue 268,147,742 common shares, with voting rights.

For further information please contact:

Arian Silver Corporation
Carlyle House
235-237 Vauxhall Bridge Road
London SW1V 1EJ

Jim Williams - CEO
(London) +44 (0)20 7963 8670 / email:

Graham Potts — CFO & Corporate Secretary
(London) +44 (0)20 7963 8670 / email:

Grant Thornton Corporate Finance
Gerry Beaney
(London) +44 (0)20 7383 5100 / email:

XCAP Securities PLC
John Grant / Karen Kelly
(London) +44 (0)20 7101 7070 / email: /

Yellow Jersey PR Limited
Dominic Barretto
(London) +44 (0)20 8980 3545 / email:

CHF Investor Relations
Cathy Hume
(Canada) +1 416 868 1079 / email:

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.