Private Placement to Raise up to Cdn$ 3,515,000

November 15th, 2006

15 November 2006 - Arian Silver Corporation (AIM/TSXV: AGQ) (the “Company”) announces that is proposes to raise up to Cdn$ 3,515,000 by way of a non-brokered private placement of up to 14,060,000 units of the Company (each, a “Unit”) at Cdn$0.25 per Unit. Each Unit will consist of one common share of the Company and one common share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one common share (each, a “Warrant Share”) for a period of 1 year following from the closing of the placement at an exercise price of Cdn$0.42 per Warrant Share, provided that in the event the closing price of the common shares of the Company on the TSX Venture Exchange exceeds Cdn$0.75 for a period of ten (10) consecutive trading days, the Company may accelerate the expiry date of the Warrants by providing notice to the Warrant holders, in which case, all unexercised Warrants will expire thirty (30) days after such notice.

The Company has received indications from potential subscribers that, if fulfilled, will satisfy the entire placement.

The proceeds of the placement will be used to fund work programmes on the Company’s projects in Mexico as well as for general corporate purposes.

For further information please contact:

In London:
Jim Williams / Alexandra Harrison
Arian Silver Corporation
+44 (0)20 7529 7511

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 on Toronto’s TSX Venture Exchange. Arian is currently active in Mexico, the world’s largest silver producing country. The Company’s main projects are the Calicanto and San Celso projects in Zacatecas state, and the recently acquired Tepal project in Michoacán State. Arian’s 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.

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.