Arian Silver Corporation: Approval of Fixed Share Option Plan and Grant of Share Options

LONDON, ENGLAND--(Marketwire - May 31, 2012) - Arian Silver Corporation (the "Company") (AGQ.V - News)(AGQ.L - News)(I3A.F - News) 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 (the "Fixed Option Plan") to be converted to a fixed plan under which 30,000,000 common shares of the Company would be reserved for issuance representing approximately 9.94% of the currently issued and outstanding common shares of the Company.

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$0.26 or GBP 0.162 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.