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Arian Silver Upgrades San Jose Resource Estimate

[RedMars]

Arian Silver Upgrades San Jose Resource Estimate

LONDON, UNITED KINGDOM, Aug 21, 2008 (Marketwire via COMTEX News Network) --

ArianSilver Corporation ("Arian Silver" or the "Company"), (TSXVENTURE:AGQ)(AIM:AGQ)(PLUS:AGQ)(FRANKFURT:I3A) the AIM and TSX-V listedsilver exploration company with Mexican mineral properties, todayannounced the results from its updated Canadian National Instrument(NI) 43-101 mineral resource estimate for the San Jose Property,located in Zacatecas State, Mexico. The resource estimate has beenprepared by independent consultants, A.C.A. Howe International Limited.

Highlights:

- 59% increase in tonnage since March 2008 resource estimate
- 55% increase in silver to 42.78 M oz
- 85% increase in lead to 120.4 M lbs
- 69% increase in zinc to 247.8 M lbs
- Resource estimate based on all (71) Phase-1 drill holes, totalling 11,772m
- Resource zones appear to be open along strike and down dip
- 50% (34 holes) of 12,000m Phase-2 drill programme completed

Thisresource of 11,190,000 tonnes in the inferred mineral resourcecategory, containing 33.76 million (M) ounces (oz) of silver (Ag), 95.7M pounds (lbs) of lead (Pb) and 205.5 Mlbs of zinc (Zn), has beendefined from the Phase-1 drill-holes drilled by Arian Silver from May2007 until March 2008.

In addition, Arian Silver has upgraded16% of the previously defined inferred mineral resource (see ArianSilver's press release, dated 3 March 2008 entitled, "Initial NI 43-101Resource Calculation at San Jose" available on Sedar at www.sedar.com)to the indicated mineral resource category, and this represents2,196,000 tonnes, containing 9.02 Moz of Ag, 24.7 Mlbs of Pb and 42.3Mlbs of Zn.

Arian Silver's Chief Executive Officer, JimWilliams, stated, "We are very pleased with this updated resourceestimate for our San Jose project. Not only have we significantlyincreased our tonnage by 59% from our previous resource estimate inMarch this year, we have also significantly increased the containedmetals of silver, lead and zinc and at the same time upgradedapproximately 16% of the resources into the 'indicated' category. Evenwith this current resource estimate we still have another 8 kilometres(km) of westerly strike of the SJV to explore and more than 2 km in theeasterly direction.

To date, Arian has only explored, withdetailed drilling and underground sampling, approximately 2.5kilometres (km) of the San Jose Vein (SJV), and the updated mineralresources have been defined into 6 separate areas. The deepest drillinghas only explored the SJV to a maximum depth of 250m. The resources aresummarised in the table below, and a plan showing the location of theresources in relation to the strike of the SJV is shown in thefollowing link:

https://media3.marketwire.com/docs/AGQMap820.pdf

San Jose Mineral Resources

----------------------------------------------------------------------------
Resource Grade Contained Metal
Category Tonnes Ag Pb Zn Ag Pb Zn
----------------------------------------------------------------------------
g/t % % (M oz) (t) (t)
----------------------------------------------------------------------------
Indicated 2,196,000 127.7 0.51 0.88 9.02 11,200 19,200
----------------------------------------------------------------------------
Inferred 11,190,000 93.8 0.39 0.83 33.76 43,400 93,200
----------------------------------------------------------------------------

1. Geological characteristics and +30 ppm grade envelopes used to define
resource volumes
2. The mineral resources estimate is in accordance with CIM and JORC
standards
3. The effective date of the mineral resources is 15 August 2008
4. The estimates are based on geostatistical data assessment and
computerised IDW3, Ag grade wireframe restricted, linear block modelling.

Theresource estimate does not include results from any of the Phase-2drill-holes. To date Arian has completed 6,200m, representing 52%, ofits ongoing 12,000m programme, in 34 holes sited within or with closeproximity to the zones currently delineated by the resource estimate.The Phase-2 drill programme has been designed to test the SJV strikefurther to the west and for infill drilling on 50m or less intervals togain additional information about metals distribution and controls onmineralisation that can be used to further upgrade known resources.Initial observations from core logging indicate that the SJV has beenintercepted but at this time assay results are pending. Arian Silveranticipates completing its Phase-2 drilling programme at San Jose by Q12009, after which a further revised resource estimate will bepresented.

The area covered by this resource estimaterepresents less than 20% of the currently known strike length of theSJV. The Phase-2 programme is currently exploring the western extensionof the SJV, where detailed geological mapping and sampling hasindicated it may continue for several kilometres along strike withinthe concessions controlled by Arian Silver. A number of holes areplanned for a second vein system at San Jose. The Bety Vein is parallelwith the SJV, and surface samples have returned grades up to 500 gramsper tonne (g/t) silver over 2m, and Arian Silver is confident that thisstructure also has the potential to contain significant mineralisation.

Arian Silver Mexico S.A. de C.V., a wholly owned subsidiary ofthe Company, holds a 100% exclusive option to acquire the San JoseProject. The Project concessions include the past producing San JoseMine, which was operated by a subsidiary of Penoles from 1973 to 1991and then by Monarca, which operated the mine between 1993 and 2001. In2001 the mine closed due to the then prevailing low silver prices.

QA/QC

Alltechnical information for the San Jose Project is obtained and reportedunder a formal quality assurance and quality control (QA/QC) programme.The core is logged and photographed by Arian Silver staff and thensplit using a diamond saw. Half the core is stored on-site in a securecore shed and the other half is sampled, bagged and secured beforebeing transported to a preparation facility in San Luis de Potosi,Mexico. The entire half-core is crushed and two kilograms is pulverizedand homogenized. 150-gram pulp samples are then air freighted to OMAC'sanalytical laboratory in Ireland for analysis. Systematic assaying ofduplicates is performed for precision and accuracy, with check assaysregularly conducted by OMAC. Each sample has its own unique samplenumber. The laboratories in San Luis Potosi, Mexico and Ireland are ISO17025 and ISO 9001:2000 accredited.

Approximately 5% of theanalysed samples are re-sampled and sent to the ALS Chemex preparationfacility in Guadalajara, Mexico. The samples consist of both coarsereject samples and 150-gram pulp samples. The coarse material iscrushed and pulverised, and all the pulp samples are air freighted toALS Chemex's analytical laboratories in Vancouver, British Columbia,for analysis. Results from all duplicate analyses are compared toidentify potential analytical or sampling errors.

The OMAC and ALS Chemex laboratories are independent of Arian Silver.

Thesamples were analysed for 32 elements by ICP (inductively coupledplasma), proceeded by an Aqua Regia acid digestion. High-grade samples(silver greater than 200g/t) were re-analysed by fire assay with agravimetric finish.

Additional information with respect to theSan Jose Project is contained in a technical report prepared by A.C.A.Howe International Limited, dated 25 April, 2008, and entitled"Resource Estimation Study on the San Jose silver-lead-zinc prospect,Zacatecas, Mexico". A copy of this report can be obtained from SEDAR atwww.sedar.com.

The "Qualified Person" (as such term is definedin Canadian National Instrument 43-101) who prepared the currentresource estimates for the San Jose Project is Mr. Galen White, who isan employee of A.C.A. Howe International Limited. Mr. White hasreviewed and approved the contents of this release.

Mr. JimWilliams, Eur Ing, Eur Geol, BSc, MSc, DIC, FIMMM, CEng, CGeol, andChief Executive Officer of Arian Silver, is a "Qualified Person" asdefined in the AIM guidelines of the London Stock Exchange, and a"Qualified Person" (as such term is defined in Canadian NationalInstrument 43-101). This press release has been prepared under Mr.Williams' supervision. Mr Williams has verified the data disclosed bythis release (including sampling, analytical and test data underlyingthe information).

About the Company

Arian SilverCorporation is a silver exploration company listed on London's AIM and"PLUS", on Toronto's TSX Venture Exchange and on the Frankfurt StockExchange. Arian Silver is active in Mexico, the world's second largestsilver producing country. The Company's main projects are the Calicantoand San Jose projects in Zacatecas State and the Tepal project inMichoacan State. Part of Arian Silver's forward-looking strategy liesin the envisaged use of large scale mechanized mining techniques overwider mineralized structures, which reduces the overall operating costper ounce of silver, and to build up NI 43-101 compliant resources.

Furtherinformation can be found by visiting Arian Silver's website:www.ariansilver.com or the Company's publicly available records atwww.sedar.com.

No stock exchange, securities commission orother regulatory authority has approved or disapproved the informationcontained in this release.

Forward-Looking Statements

Thispress release contains certain "forward-looking statements". Allstatements, other than statements of historical fact, that addressactivities, events or developments that the Company believes, expectsor anticipates will or may occur in the future (including, withoutlimitation, the mineral resource estimates referred to in this pressrelease and statements regarding exploration results, potentialmineralization, potential mineral resources, future production and theCompany's exploration and development plans and objectives) areforward-looking statements. These forward-looking statements reflectthe current expectations or beliefs of the Company based on informationcurrently available to the Company. Forward-looking statements aresubject to a number of risks and uncertainties that may cause theactual results of the Company to differ materially from those discussedin the forward-looking statements, and even if such actual results arerealized or substantially realized, there can be no assurance that theywill have the expected consequences to, or effects on the Company.Factors that could cause actual results or events to differ materiallyfrom current expectations include, among other things, failure toestablish estimated mineral resources, the possibility that futureexploration results will not be consistent with the Company'sexpectations, uncertainties relating to the availability and costs offinancing needed in the future, changes in commodity prices, changes inequity markets, political developments in Mexico, changes toregulations affecting the Company's activities, foreign currencyfluctuations, delays in obtaining or failures to obtain requiredregulatory approvals, the uncertainties involved in interpretingexploration results and other geological data, and the other risksinvolved in the mineral exploration and development industry. Anyforward-looking statement speaks only as of the date on which it ismade and, except as may be required by applicable securities laws, theCompany disclaims any intent or obligation to update anyforward-looking statement, whether as a result of new information,future events or results or otherwise. Although the Company believesthat the assumptions inherent in the forward-looking statements arereasonable, forward-looking statements are not guarantees of futureperformance and accordingly undue reliance should not be put on suchstatements due to the inherent uncertainty therein.

The mineralresource figures referred to in this press release are estimates and noassurances can be given that the indicated levels of minerals will beproduced. Such estimates are expressions of judgment based onknowledge, mining experience, analysis of drilling results and industrypractices. Valid estimates made at a given time may significantlychange when new information becomes available. While the Companybelieves that the resource estimates referred to in this press releaseare well established, by their nature resource estimates are impreciseand depend, to a certain extent, upon statistical inferences, which mayultimately prove unreliable. If such estimates are inaccurate or arereduced in the future, this could have a material adverse impact on theCompany.

Mineral resources are not mineral reserves and do nothave demonstrated economic viability. There is no certainty thatmineral resources can be upgraded to mineral reserves through continuedexploration.

SOURCE: Arian Silver Corporation

Arian Silver Corporation  

Jim Williams  

CEO  

(London) [phone]  

Email: [e-mail]  

Arian Silver Corporation  

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Investor Relations  

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