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Re: Press Releases - Wednesday, February 10, 2010
Arian Silver Progresses San Jos� Property Towards Production
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London, England, Arian Silver ("Arian" or the "Company") a silver
exploration and development company with a focus on projects in the
silver belt of Mexico, is pleased to update shareholders on the
progression of its San Jos� Property, Zacatecas state, Central Mexico.
Key Points
.. Completion of acquisition of 100% of San Jos� Property in Mexico;
.. San Jos� Property progresses towards production;
.. Strong balance sheet following recent over-subscribed Cdn$3.5m
Private Placement;
.. Successful unwinding of the major shareholding position of Grafton
Resource Investments Ltd; and
.. Aggressive 2010 marketing drive to investment and partner community.
Commenting on today's statement, Arian's Chief Executive Officer, Jim
Williams, said: "This is an exciting time for Arian. After a
challenging 2009, the start of 2010 has so far worked in our favour
with the successful unwinding of Grafton Resource's shareholding
position in the Company, the successful closing of an over-subscribed
private placement financing, the outright purchase of our key San Jos�
Property, and the signing of a definitive option agreement with
Geologix Explorations for the disposal of our Tepal Project. All
efforts remain focused on getting San Jos� into production as soon as
possible, and we look forward to updating shareholders in due course on
developments in this respect."
Update on the San Jos� Property
Following the recent news regarding the Company's completed and
over-subscribed Cdn$3.5 million non-brokered Private Placement, Arian
announces that it has concluded the acquisition of the remaining 33.33%
interest in the San Jos� Property to take its ownership interest to
100%.
Arian's final payment of US$500,000 (plus IVA) has been paid to the
underlying vendors and the acquisition contracts have been executed,
notarized and are in the process of being registered with the
appropriate Mexican authorities.
A 2% Net Smelter Return remains payable to the vendors of the San Jos�
Property.
Progressing towards Production
All necessary permits are in place and the Company's efforts will
remain focused on pushing the San Jos� Property into production.
Contracts for the proposed initial contract mining and custom milling
operations are currently being finalized. Road upgrading has already
begun within the mine site area to ease the movement of heavy plant
away from local built-up areas and minimize any environmental impact.
The parameters of the initial contract mining and custom milling
operations are set out in the Preliminary Economic Assessment prepared
by A.C.A. Howe International Limited dated 22 June, 2009. A copy of
this report entitled "Preliminary Economic Assessment Report (PEAR) on
the San Jos� Silver-Lead-Zinc Deposit, Zacatecas, Mexico" is available
on the Company's website www.ariansilver.com or on SEDAR at
www.sedar.com
Aggressive 2010 Marketing Plan
Following January's significant achievements, Arian is now well
positioned to be taking an aggressive approach to its corporate
marketing activities. The Company announces the recent engagement of
Yellow Jersey PR to spearhead the public relations and marketing
programme in the United Kingdom. CHF Investor Relations will continue
to lead the investor and public relations programme in Canada.
For further information please contact:
Arian Silver Corporation
Carlyle House
235-237 Vauxhall Bridge Road
London SW1V 1EJ
England
Jim Williams - CEO
(London) +44 (0)20 7963 8670 / email: jwilliams@ariansilver.com
Graham Potts -- CFO & Corporate Secretary
(London) +44 (0)20 7963 8670 / email: gpotts@ariansilver.com
Grant Thornton UK LLP
Gerry Beaney
(London) +44 (0)20 7383 5100 / email: gerry.d.beaney@gtuk.com
Yellow Jersey PR
Dominic Barretto
(London) +44 (0)20 8980 3545 / email dominic@yellowjerseypr.com
CHF Investor Relations
Alison Tullis
(Canada) +1 416 868 1079 Ext. 233 / email: alison@chfir.com
About the Company
Arian is a silver exploration and development company and is listed on
London's AIM; trades on London's "PLUS" market; is listed on Toronto's
TSX Venture Exchange and on the Frankfurt Stock Exchange. Arian is
active in Mexico, the world's second largest silver producing country.
The Company's main projects are the Calicanto and San Jos� projects in
Zacatecas State. Arian's Tepal project in Michoac�n State is subject to
an exclusive purchase option to Geologix Explorations Inc. Part of
Arian's forward-looking strategy lies in the envisaged use of large
scale mechanized mining techniques over wider mineralized structures,
which reduces the overall unit operating cost of metals, and to build
up NI 43-101 compliant resources.
Further information can be found by visiting Arian's website:
www.ariansilver.com or the Company's publicly available records at
www.sedar.com.
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
herein.
Forward Looking Information
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, the Company's expectation to move towards production) 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 or events to differ materially from those
discussed in the forward-looking statements, and even if such actual
results or events are realised or substantially realised, 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, failure to achieve production in the short term, risks
related to the stage of the Company's projects, uncertainties related
to fluctuations in commodity prices 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.
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Copyright (c) 2010 ARIAN SILVER CORPORATION (AGQ) All rights reserved.
For more information visit our website at http://www.ariansilver.com/
or send mailto:info@ariansilver.com
Message sent on Wed Feb 10, 2010 at 6:29:19 AM Pacific Time
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Arian Silver Corporation
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PRODUCTEUR |
CODE : AGQ.V |
ISIN : VGG0472G1063 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Arian Silver est une société de production minière d'argent basée au Royaume-Uni. Arian Silver est productrice d'argent, d'or, de plomb et de zinc au Mexique, et détient divers projets d'exploration au Mexique. Son principal projet en production est SAN JOSÉ ZACATECAS au Mexique et ses principaux projets en exploration sont SAN CELSO et CALICANTO au Mexique. Arian Silver est cotée au Canada, au Royaume-Uni, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 41,4 millions CA$ (39,0 millions €). La valeur de son action a atteint son plus bas niveau récent le 12 décembre 2008 à 0,03 CA$, et son plus haut niveau récent le 07 janvier 2011 à 8,90 CA$. Arian Silver possède 318 491 926 actions en circulation. |