Arian Silver Corporation
TSX VENTURE : AGQ
AIM : AGQ
FRANKFURT : I3A
PLUS : AGQ

Arian Silver Corporation

April 24, 2008 12:01 ET

Arian Silver Corporation: Private Placement to Raise Up to Cdn$3,000,000

LONDON, UNITED KINGDOM--(Marketwire - April 24, 2008) - Arian Silver Corporation (the "Company") (TSX VENTURE:AGQ)(AIM:AGQ)(PLUS:AGQ)(FRANKFURT:I3A) announces that it proposes to raise up to Cdn$3,000,000 by way of a non-brokered private placement of up to 10,000,000 units of securities of the Company (each, a "Unit") at Cdn$0.30 per Unit. Each Unit will consist of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant (a "Warrant") will entitle the holder thereof to acquire one common share (each, a "Warrant Share") for a period of 18 months from the date of the closing of the private placement (the "Closing Date") at an exercise price of Cdn$0.40 per Warrant Share, provided, however, that in the event the closing price of the common shares of the Company on the TSX Venture Exchange exceeds Cdn$0.65 for a period of twenty (20) consecutive trading days commencing any time after the Closing date, 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 is given by the Company.

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 "PLUS", on Toronto's TSX Venture Exchange and on the Frankfurt Stock Exchange. Arian is active in Mexico, the world's largest silver producing country. The Company's main projects are the Calicanto and San Jose projects in Zacatecas State and the Tepal project in Michoacan State. 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 operating cost per ounce of silver, and to build up National Instrument 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.

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

  • Arian Silver Corporation
    Jim Williams
    CEO
    +44 (0)207 529 7511 (London)
    Website: www.ariansilver.com
    or
    Bishopsgate Communications Limited
    Nick Rome
    +44 (0)207 562 3350 (London)
    or
    Vicarage Capital Limited
    Martin Wood
    +44 (0)207 060 1303 (London)
    or
    Grant Thornton Corporate Finance
    Gerry Beaney
    +44 (0)207 385 5100 (London)
    or
    Vanguard Shareholders Solutions
    Keith Schaefer
    (604) 608-0824 (Canada)
    Toll Free: 1-866-898-0825 (US & Canada)