Disclosure of Share Interests

May 18th, 2007

The Company was notified yesterday that following recent sales, RAB Special Situations (Master) Fund Limited now holds in aggregate 9,000,000 common shares of no par value representing approximately 8.55% of the voting rights of the Company.

The current issued share capital of the Company is 105,285,469 common shares of no par value.

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