Issue of Shares

October 31st, 2007

Arian Silver Corporation (the “Company”) announces that it has issued 2,005,000 common shares of no par value in connection with an exercise of warrants at Cdn$0.42 per share.

Application has been made for these shares to be admitted to AIM on 2 November 2007.

Voting Rights and Capital

In conformity with Disclosure and Transparency Rule 5.6.1 the Company hereby notify the market of the following:

The Company’s capital includes 114,110,969 common shares of no par value each with voting rights. None of these common shares are held in Treasury.

Therefore the total number of voting rights in the Company is 114,110,969.

The above figure of 114,110,969 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to the interest in, the Company under the FSA’s Disclosure and Transparency Rules.

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

Gerry Beaney / Fiona Kindness
Grant Thornton UK LLP
Tel: +44 (0) 20 7358 5100
Fax: +44 (0) 20 7383 4715

Maxine Barnes / Nick Rome
Bishopsgate Communications Limited
Tel: +44 (0) 20 7562 3350
Fax: +44 (0) 20 7628 0889