ARIAN SILVER REPORTS ENCOURAGING PROGRESS ON PHASE 4 DRILLING AT SAN
JOS�

London, England, Arian Silver Corporation ("Arian" or the "Company")
(TSXV: AGQ) (AIM: AGQ) (FRANKFURT: I3A), a silver exploration,
development and production company with a focus on projects in the
silver belt of Mexico, today announced encouraging results from the
Company's Phase 4 exploration drilling programme at its 100% owned San
Jos� Property ("San Jos�"), located in Zacatecas State, Mexico.
Highlights:
 24 drill holes for 6,600 metres (m) so far completed;
 Multiple high-grade silver intercepts with step-out and infill
drilling along the San Jos� Vein ("SJV");
 Drilling continues at a good pace with completion anticipated
this quarter;
 Drilling commenced along the Bety Vein; and
 Further resource estimate update at San Jos� following
completion of Phase 4 drilling.
Drilling Update
The Phase 4 drilling programme is for 40 drill holes totaling 10,000m
comprising both step-out and in-fill drilling along the extensive
strike length of the SJV. The strategy is two-fold; firstly, to
identify additional resources, and secondly, to upgrade the current
resources by size and by category.
A number of drill holes on the Bety Vein are also planned. Two of these
have been completed and Arian is awaiting assay results. The Bety Vein,
where surface samples returned grades of up to 500 g/t of silver, is
located a short distance to the south of the SJV along the same general
directional trend. Selected intercepts from the current drilling
include:
 Hole GW-11-041 comprising 4.07m* with 436 g/t Ag;
 Hole GW-11-043 comprising 5.19m* with 221 g/t Ag;
 Hole GW-11-046 comprising 8.02m* with 170 g/t Ag;
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 Hole SJ-11-124 with multiple intercepts, including 5.60m* with
336 g/t Ag, and 2.03m* with 512 g/t Ag; and
 Hole SJ-11-126 comprising 0.70m* with 391 g/t Ag.
* representing true thicknesses.
Commenting on today's operations update, Arian's President and Chief
Executive Officer, Jim Williams, said:
"Once again, these most recent drill results show continuity of vein
thickness, silver mineralization and grade from both the in-fill and
step-out drilling as we drill along the SJV. Drilling continues at a
good pace using two Longyear 44 rigs and we are currently anticipating
completion during this reporting quarter. We have so far drilled two
holes on the Bety Vein with a view to testing its extension in a
westerly direction and the assay results will be reported in due
course. The Bety Vein, as previously stated, is located to the south of
and is more or less parallel with, the SJV where grades of up to 500
g/t silver were recorded from surface sampling.
"We continue to believe the San Jos� Project still has considerable
potential upside to offer and we anticipate a further resource estimate
update after the completion of our Phase 4 drilling."
A schematic plan showing the location of the updated drilling in
relation to the SJV strike is available at the following link:
http://www.ariansilver.com/i/pdf/Plan-for-SJ-News-24-Oct-11.pdf
A schematic section showing multiple drill holes some distance west of
the village of Guanajuatillo is available at the following link:
http://www.ariansilver.com/i/pdf/Section-for-SJ-news-24-Oct.pdf
A complete list of all the latest batch of assay results can be
obtained via the following link:
http://www.ariansilver.com/i/pdf/HOLE-IDTable-NR_10-24-11.pdf
Resource Recap
At San Jos�, Arian has already reported significant NI 43-101 compliant
Indicated and Inferred resources of:
 Indicated comprising 8 Million ("M") tonnes ("t") containing
approximately 30 M ounces ("oz") of silver ("Ag"), 70 M pounds ("lbs")
of lead ("Pb") and 127 Mlbs of zinc ("Zn"), and;
 Inferred comprising 17 Mt containing approximately 58 Moz of
Ag, 140 Mlbs of Pb and 291 Mlbs of Zn.
These resources are detailed in the Company's news release dated 20
July 2011. On completion of the Phase 4 drilling a further resource
update will be announced.
Forward Looking Strategy
The Company, as previously reported, has commenced small-scale
production using contract mining and toll milling at San Jos� to
generate cash flow and to investigate the optimal processing route for
an expanded operation in due course. Arian's forward looking strategy
continues to include the building up of additional
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NI 43-101 compliant resources to support the eventual use of
larger-scale mechanized mining methods over wide mineralized structures
that will result in reduced unit operating costs.
QA/QC
All technical information for the San Jos� Project is obtained and
reported under a formal quality assurance and quality control (QA / QC)
programme. The core is logged and photographed by Arian's staff and
then split using a diamond saw. Half the core is stored on-site in a
secure core shed and the other half is labelled, bagged and secured
before transporting to Stewart Group's sample preparation facility in
Zacatecas, Mexico. Each sample has its own unique sample number. The
entire half-core is crushed to minus 10 mesh and a half kilogram riffle
split is pulverized and homogenized to minus 200 mesh. The pulp samples
are then air freighted to Stewart Group's analytical laboratory in
Canada for analysis. Systematic assaying of duplicates, blanks and
certified reference material is performed for precision and accuracy;
quality procedures and processes are continually reviewed and monitored
with protocols in place to deal with any non-conformity. Stewart
Group's laboratories in Zacatecas, Mexico, and Kamloops, BC Canada are
ISO 9001:2000 accredited.
Approximately 5% of the analysed samples are re-sampled and sent to ALS
Chemex preparation facility in Guadalajara, Mexico. The samples consist
of both coarse reject samples as well as pulp samples. The coarse
material is crushed and pulverised according to the same protocol, and
the pulp samples are air freighted to ALS Chemex's analytical
laboratories in Vancouver, Canada, for analysis. Results from all
duplicate analyses are compared to identify potential analytical or
sampling errors.
Stewart Group and ALS Chemex Laboratories are independent of Arian.
The samples were analysed for a multi element scan by aqua regia
digestion and ICP (inductively coupled plasma) finish. High-grade
samples (>200 g/t Ag) were re-analysed by fire assay with a gravimetric
finish.
About the Company
Arian is a publicly quoted silver exploration, development and
production company, operating in one of the richest silver-bearing
districts in the world, Zacatecas State, Mexico. The Company is
committed to mining in existing silver areas, and to exploring new
opportunities. Arian's main project is San Jos�, in Zacatecas State,
where we anticipate increasing production in due course.
Arian Silver Corporation was founded by Jim Williams (President & CEO)
and Tony Williams (Chairman) and is listed on AIM, London, TSX Venture
Exchange, Toronto and on the Frankfurt Stock Exchange (as I3A). The
company's headquarters are in Berkeley Square, London.
Further information can be found by visiting Arian's website:
www.ariansilver.com or the Company's publicly available records at
www.sedar.com.
Qualified Person
Mr. Jim Williams, Eur Ing, Eur Geol, BSc, MSc, D.I.C., FIMMM, the 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 such term is defined in Canadian National Instrument 43-101 ("NI
43-101"). This news release has been prepared under Mr. Williams'
supervision. Mr. Williams has verified the data disclosed in this
release.
Forward-Looking Information
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This news 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 relating to the San Jos� Project with respect to
estimates of mineral resource quantities, mineral resource qualities,
the potential scope and context of the mineralized area, the potential
for upgrading the mineral resource estimate and the Company's
exploration and drilling targets, goals, objectives and plans) 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 significant risks and uncertainties and other
factors 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, but
are not limited to: failure to establish estimated mineral resources,
the grade, quality and recovery of mineral resources varying from
estimates, risks related to the exploration stage of the Company's
properties, the possibility that future exploration results will not be
consistent with the Company's expectations (including identifying
additional and/or deeper mineralization), changes in the price of
silver, changes in equity markets, political developments in Mexico,
uncertainties relating to the availability and costs of financing
needed in the future, changes to regulations affecting the Company's
activities, delays in obtaining or failures to obtain required
regulatory approvals, the uncertainties involved in interpreting
drilling and exploration results and other geological data and other
factors (including exploration, development and operating risks).
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 guaranteed of future
performance and accordingly undue reliance should not be put on such
statements due to the inherent uncertainty therein.
Readers are reminded that mineral resources are not mineral reserves
and have not demonstrated economic viability. There is no certainty
that mineral resources can be upgraded to mineral reserves through
continued exploration.
For further information please contact:
Arian Silver Corporation
Berkeley Square House
Berkeley Square
London
W1J 6BD
England
OR
Arian Silver Corporation
Jim Williams
CEO
(London) +44 (0)20 7887 6599
jwilliams@ariansilver.com
OR
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Grant Thornton Corporate Finance
Gerry Beaney
(London) +44 (0)20 7383 5100
gerry.d.beaney@gtuk.com
OR
XCAP Securities PLC
John Grant / Karen Kelly
(London) +44 (0)20 7101 7070
John.Grant@xcapgroup.com / Karen.Kelly@xcapgroup.com
OR
Yellow Jersey PR Limited
Dominic Barretto
(London) +44 (0) 7768 537 739
dominic@yellowjerseypr.com
OR
CHF Investor Relations
Cathy Hume
(Canada) +1 416 868 1079 x 231
cathy@chfir.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.