Arian Silver Corporation

Arian Silver Corporation

November 15, 2006 09:30 ET

Arian Silver Corporation:Private Placement To Raise Up To CDN$ 3,515,000

LONDON, UNITED KINGDOM--(CCNMatthews - Nov. 15, 2006) - Arian Silver Corporation (the "Company") (TSX VENTURE:AGQ) (AIM:AGQ) 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.

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 Michoacan 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.

Contact Information

  • In London :
    Arian Silver Corporation
    Jim Williams / Alexandra Harrison
    Tel: +44 (0)20 7529 7511
    In Vancouver :
    Vanguard Shareholder Solutions
    Investor Relations
    Tel: +1 (604) 608 0824
    Toll free: 1866 898 0825