Director Shareholding

January 4th, 2011

The Company was notified today that Jim Williams, Chief Executive Officer of the Company, had disposed of 2,000,000 common shares of no par value (“Common Shares”), at a price of 51 pence per Common Share. The 2,000,000 Common Shares were placed to shareholders by XCAP Securities PLC.

As a result of this transaction Mr Williams’ holding is now 4,800,000 Common Shares, representing 1.7% of the Company’s issued share capital.

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 Ext. 231 / 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