Drilling to Start on San Jose Property

May 2nd, 2007

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Arian Silver Corporation (“Arian” or the “Company”) is pleased to announce the start of a thirty-four hole, 5,000 metre, NQ-size, diamond-drilling programme at its San Jose property, Zacatecas state, Mexico.

The San Jose property covers approximately 4,300 hectares, including the workings of the San Jose Mine that operated from 1973 until 2001, where approximately 2.2 million tonnes of material were extracted, grading 257 g/t Ag, with base-metal and gold credits.

The San Jose property is relatively unexplored. Zimapan, a subsidiary of Industrias Peñoles S.A. de C.V. (Peñoles), drilled a number of shallow drill-holes to explore the San Jose Vein (SJV) to a depth of 50m below surface, for approximately 3km west of the known workings. The last phase of exploration drilling was conducted in 1987-1989, and no further exploration work has been conducted on the property.

The proposed drill program has been designed to confirm the historical drill-hole data and to expand on a number of priority target areas. A map showing the proposed collar locations is shown in the attached link: http://www.ccnmatthews.com/docs/SanJoseDrillProgramPlanMap.pdf

Arian’s Chief Executive Officer, Jim Williams, said, “I am very pleased to report that our initial phase of drilling is about to commence at our San Jose property. Since we acquired this property in December last year, we have undertaken both remote sensing and a photo topographical survey, both of which have highlighted additional targets. We are working with A.C.A. Howe with a view to defining NI 43-101 compliant silver resources in the near-term, and the exploration already undertaken, together with this preliminary drill programme, stands us in good shape to achieve this”.

Priority Target Areas
  1. Block 450
    Arian has identified that a number of historical “reserve” (not NI 43-101 compliant) blocks still exist east of the San Jose mine. Work is currently underway to re-access these areas for sampling and mapping and a number of short drill holes have been designed to confirm the historical drill-hole data.
  2. Santa Ana Mine
    The Santa Ana mine exploited a number of narrow, high-grade silver shoots within the SJV system to a depth of 120m below surface to where the vein mineralization changed from oxide to sulphide-rich, which gave poor metal recovery using historical processing techniques. In the adjacent San Jose mine (800m east of the Santa Ana workings), Peñoles exploited the sulphide portion of the SJV to a depth of 275m, and Arian is planning to drill the down-dip continuation of the vein below the Santa Ana to test for mineralization at depth.
  3. Solidad Mine
    A number of prospects and shafts explore a portion of the SJV approximately 2km west of the San Jose Shaft, where three, wide spaced shallow drill-holes have indicated a wide, silver-base-metal vein system. Arian is planning to drill a number of holes to confirm the historical drill-hole and trench data.
Arian has contracted Tecmin Servicios, S.A. de C.V. (Tecmin) for the drill program. Tecmin is a local drill company based in Fresnillo, Zacatecas, and has drilled for a number of mining companies including Peñoles at the Juanacipio Joint Venture.

Arian has completed a preliminary Induced Polarization (IP) study over the area with a view to identifying vein structures beneath the quaternary cover that covers a large area of the San Jose property. Initial results have been positive with a number of potential structures identified, that will be explored in the immediate future.

Arian has also completed the photo topographical survey on the property, and the satellite photo has identified the SJV along strike, and has also identified a number of new structures that are hidden beneath the soil cover.

A.C.A. Howe International Limited has completed a technical report on the San Jose property in April 2007 and recommended the following work to be carried out:
  • An initial 5,000 meter surface diamond drilling programme to explore the San Jose Vein
  • A surface Induced Polarization (IP) study to test the IP response of the main San Jose and the Dos Vetas vein systems
  • A remote sensing survey
  • A systematic trenching programme to identify targets for future exploration
All work will be done under the Arian quality assurance and quality control (QA/QC) programme. All samples will be assayed for 32 elements. All samples will be sent to Inspectorate of America, Inc. (Inspectorate) preparation laboratory in Durango, Mexico, and to Inspectorate’s analytical laboratory in Reno, Nevada. Inspectorate is an ISO 9002 certified laboratory.

Additional information with respect to the San Jose property is contained in a technical report prepared by A.C.A. Howe International Limited, dated <Insert date here>, and entitled “Technical Report on the San José Project, Zacatecas, Mexico”.

Mr. Jim Williams, Eur Ing, Eur Geol, MSc, DIC, FIMMM, CEng, CGeol, and Chief Executive Officer of Arian, is a “Qualified Person” as defined in the AIM guidelines of the London Stock Exchange, and a “Qualified Person” as defined in the Canadian Securities Administrators National Instrument 43-101. This press release has been prepared under Mr. Williams’ supervision. Mr Williams has verified the data disclosed by this release (including sampling, analytical and test data underlying the information).

For further information please contact:

In London:

Jim Williams - CEO
Arian Silver Corporation
+44 (0)20 7529 7511

Justine Howarth/ Clare Irvine
Parkgeen Communications
+44 (0)20 7851 7480

Gerry Beaney,
Grant Thornton Corporate Finance
+44 (0)207 385 5100

Daniel Brooks,
Haywood Securities (UK) Limited
+44 (0) 207 031 8000

In Vancouver:

Investor Relations,
Vanguard Shareholder Solutions
+1 (604) 608 0824
Toll free: 1866 898 0825

Arian Silver Corporation is a silver exploration company listed on London’s AIM and “PLUS”, on Toronto’s TSX Venture Exchange and on the Frankfurt Stock Exchange. Arian is active in Mexico, the world’s largest silver producing country. The Company’s main projects are the Calicanto Group, the San Jose, and San Celso projects in Zacatecas state, and the Tepal project in Michoacán State. Part of Arian’s forward-looking strategy lies in the envisaged use of large scale mechanised mining techniques over wider mineralised structures, which reduces the overall operating cost per ounce of silver, and to build up National Instrument 43-101 compliant resources.

Arian was founded by Jim Williams, Chief Executive Officer, and Tony Williams, Chairman, who together have over 50 years experience in exploration, project construction and mining worldwide. Arian is supported by the Dragon Group in London, and the Endeavour Group in Canada.

Further information can be found by visiting Arian’s website: www.ariansilver.com or the Company’s publicly available records at www.sedar.com.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in this release.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This press release contains certain “forward-looking statements”. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding exploration results, potential mineralization and mineral resources, and the Company’s exploration and development plans and objectives) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, uncertainties relating to the availability and costs of financing needed in the future, changes in commodity prices, changes in equity markets, political developments in Mexico, changes to regulations affecting the Company’s activities, delays in obtaining or failures to obtain required regulatory approvals, the uncertainties involved in interpreting exploration results and other geological data, and the other risks involved in the mineral exploration and development industry. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.