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Proposal to Vary the Terms of Outstanding Share Pu

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Arian Announces Proposal to Vary the Terms of Outstanding Share Purchase Warrants
3/17/2009 9:43:22 AM - Market Wire

LONDON, UNITED KINGDOM, Mar 17, 2009 (Marketwire via COMTEX News Network) --

ArianSilver Corporation ("Arian" or the "Company") (TSXVENTURE:AGQ)(AIM:AGQ)(PLUS:AGQ)(FRANKFURT:I3A) announces that it isproposing to re-price and vary the exercise periods of its outstandingshare purchase warrants (the "Warrants Variation"). The WarrantsVariation is subject to the approval of warrant holders and the TSXVenture Exchange ("TSXV").

The Company has outstanding:

1.2,727,250 common share purchase warrants exercisable at Cdn$0.65 pershare and expiring 1 August 2009 (the "B Warrants"); and

2. 6,046,000 common share purchase warrants exercisable at Cdn$0.35 per share and expiring 29 November 2009 (the "C Warrants").

The Warrants Variation involves:

1.re-pricing 1,363,625 of the B Warrants so that they are exercisable atCdn$0.07 per share and varying the exercise period of such warrants sothat they expire on the date that is three months following receipt bythe Company of approval of the Warrants Variation provided that wherethe closing price of the common shares of the Company listed on theTSXV exceeds Cdn$0.0875 for any period of ten (10) consecutive tradingdays (the "Premium Trading Days"), the expiry date of the Warrantsshall be accelerated such that the Warrants will expire at 5:00 p.m.(London, United Kingdom time) on the 30th calendar day after the datewhich is seven (7) calendar day after the 10th Premium Trading Day; and

2. re-pricing 1,363,625 of the B Warrants so that they areexercisable at Cdn$0.10 per share and varying the exercise period ofsuch warrants so that they expire on 31 December 2009 provided thatwhere the closing price of the common shares of the Company listed onthe TSXV exceeds Cdn$0.125 for any period of ten (10) consecutivetrading days (the "Premium Trading Days"), the expiry date of theWarrants shall be accelerated such that the Warrants will expire at5:00 p.m. (London, United Kingdom time) on the 30th calendar day afterthe date which is seven (7) calendar day after the 10th Premium TradingDay

.

3. re-pricing 3,023,000 of the C Warrants so that they areexercisable at Cdn$0.07 per share and varying the exercise period ofsuch warrants so that they expire on the date that is three monthsfollowing receipt by the Company of approval of the Warrants Variationprovided that where the closing price of the common shares of theCompany listed on the TSXV exceeds Cdn$0.0875 for any period of ten(10) consecutive trading days (the "Premium Trading Days"), the expirydate of the Warrants shall be accelerated such that the Warrants willexpire at 5:00 p.m. (London, United Kingdom time) on the 30th calendarday after the date which is seven (7) calendar day after the 10thPremium Trading Day; and

4. re-pricing 3,023,000 of the CWarrants so that they are exercisable at Cdn$0.10 per share and varyingthe exercise period of such warrants so that they expire on 31 December2009 provided that where the closing price of the common shares of theCompany listed on the TSXV exceeds Cdn$0.125 for any period of ten (10)consecutive trading days (the "Premium Trading Days"), the expiry dateof the Warrants shall be accelerated such that the Warrants will expireat 5:00 p.m. (London, United Kingdom time) on the 30th calendar dayafter the date which is seven (7) calendar day after the 10th PremiumTrading Day.

The accelerator applicable to the revised exercise periods is a requirement of the TSXV.

About the Company

ArianSilver Corporation is a silver exploration and development companylisted on London's AIM and "PLUS", on Toronto's TSX Venture Exchangeand on the Frankfurt Stock Exchange. Arian Silver is active in Mexico,the world's second largest silver producing country. The Company's mainprojects are the Calicanto and San Jose projects in Zacatecas State andthe Tepal project in Michoacan State. Part of Arian Silver'sforward-looking strategy lies in the envisaged use of large scalemechanized mining techniques over wider mineralized structures, whichreduces the overall unit operating cost of metals, and to build up NI43-101 compliant resources.

Further information can be found byvisiting Arian's website: www.ariansilver.com or the Company's publiclyavailable records at www.sedar.com.

No stock exchange,securities commission or other regulatory authority has approved ordisapproved the information contained in this release.

SOURCE: Arian Silver Corporation

Arian Silver Corporation
Jim Williams
CEO
(London) [phone]
Email: [e-mail]
Arian Silver Corporation
Graham Potts
CFO & Corporate Secretary
(London) [phone]
Email: [e-mail]
Website: www.ariansilver.com
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Nick Rome
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Martin Wood
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Grant Thornton UK LLP
Gerry Beaney
(London) [phone]
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CHF Investor Relations
Alison Tullis
(Canada) [phone] Ext. 233
Email: [e-mail]

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