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Message: Closing Of Share Exchange Transaction With Grafton Resource Investments Ltd.

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Closing Of Share Exchange Transaction With Grafton Resource Investments Ltd.

posted on Feb 26, 09 07:01AM

February 26, 2009

Arian Announces First Stage Closing Of Share Exchange Transaction With Grafton Resource Investments Ltd.

LONDON, UNITED KINGDOM--(Marketwire - Feb. 26, 2009) - Arian Silver Corporation ("Arian" or the "Company") (AIM:AGQ)(TSX VENTURE:AGQ)(PLUS:AGQ)(FRANKFURT:I3A) announces the closing of the Initial Share Issue, being the first stage of a proposed two-part share exchange transaction with Grafton Resource Investments Ltd ("Grafton") (see Arian's press releases dated 27 January and 5 February 2009).

Under the terms of the Initial Share Issue, Arian has issued to Grafton 26,097,230 common shares at a price per common share of Cdn$0.055, for a total value of approximately Cdn$1,435,347, and Grafton has issued to Arian 26,322 ordinary shares of equivalent value determined by reference to the net asset value of US$43.98 per Grafton ordinary share calculated as at the close of business on 30 January 2009.

Application has been made for the 26,097,230 Arian common shares to be admitted to trading on London's AIM on 3 March 2009.

As a result of this transaction Grafton holds 14.9% of Arian's outstanding common shares (calculated as at the date hereof) and has the right to nominate a representative to the Board of Arian.

It is intended that the Grafton shares that Arian has received will be disposed of, largely to institutional investors, to raise cash principally for Arian's San Jose Project as well as for general working capital. Grafton has agreed to facilitate and promote this fundraising process. The principals of Grafton and its associates have experience in providing funding for junior mining and exploration companies using this particular type of share exchange and disposal mechanism.

The Company's capital now comprises 175,149,199 common shares of no par value each with voting rights.

It is proposed to convene a Special Meeting of shareholders shortly to approve the second stage of the share exchange transaction.

About the Company

Arian Silver Corporation is a silver exploration and development company listed on London's AIM and "PLUS", on Toronto's TSX Venture Exchange and on the Frankfurt Stock Exchange. Arian Silver is active in Mexico, the world's second 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 Silver's forward-looking strategy lies in the envisaged use of large scale mechanized mining techniques over wider mineralized structures, which reduces the overall unit operating cost of metals, and to build up NI 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.

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