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

Arian Silver Corporation

May 31, 2012 18:20 ET

CORRECTION FROM SOURCE-Arian Silver Corporation: Approval of Fixed Share Option Plan and Grant of Share Options

LONDON, ENGLAND--(Marketwire - May 31, 2012) -

The common shares of the Company exercisable at a price of C$0.26 or £0.162 announced at 13:36 today was published in error. The correct exercise price was C$0.32077 or £0.20. The full corrected text of the announcement is repeated below.

Arian Silver Corporation (the "Company") (TSX VENTURE:AGQ)(AIM:AGQ)(FRANKFURT:I3A) a silver exploration, development and production company with a focus on projects in the silver belt of Mexico, announces that subject to approval by the TSX Venture Exchange (the "TSXV"), the Board approved the rolling share option plan to be converted to a fixed plan (the "Fixed Option Plan") under which 30,000,000 common shares of the Company with no par value ("common shares") would be reserved for issuance representing approximately 9.94% of the currently issued and outstanding common shares.

All currently subsisting options granted under any previous share option plan of the Company would form part of the 30,000,000 share limit.

Furthermore, the Board has approved the grant of options to Eligible Persons (as defined in the Fixed Option Plan) over 1,000,000 common shares of the Company exercisable at a price of C$0.32077 or £0.20 until 29 May 2017 pursuant to the rules of the share option plan. Such options vest immediately but may not be exercised until such time as the Fixed Option Plan has been approved by the TSXV.

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.

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