AGQ.L Share News (AGQ)

LONDON, ENGLAND--(Marketwire - June 30, 2010) - Arian Silver Corporation ("Arian Silver" or the "Company") (TSX VENTURE:AGQ)(AIM:AGQ)(PLUS:AGQ)(FRANKFURT:I3A), a silver exploration and development Company with a focus on projects in the silver belt of Mexico, updates on the status of production on the San Jose silver property in Zacatecas State. As previously announced, the Company is fully permitted, infrastructural upgrades are complete, the mining contract agreed upon and transportation of ore arranged. Arian Silver only requires the completion of the milling contract ("Contract") to commence production on the San Jose property. Finalising the Contract with the proposed miller ("Miller") is taking longer than anticipated, and therefore in addition to ongoing negotiations with the Miller, Arian Silver has initiated dialogue and testwork with other potential custom mills in the region, to ensure the best operational and financial structure is reached in a timely manner for the Company and all shareholders. Jim Williams, CEO and President stated, "It was assumed that the milling contract would be finalised with time to spare for the end of Q2 on 30 June 2010. Management remains optimistic that the Miller and Arian Silver will sign mutually agreeable terms for the milling of our production from San Jose. Once finalized, the lead time to commence production is quite short. Once in production, it is envisaged that a large part of the revenue generated will be used to fund further exploration, including drilling on the remaining strike length, some 12 km, of the San Jose Vein, within our concession boundaries." Although the initial forecast for our production target date has slipped, management anticipates the final milling contract will reflect the best deal for the Company and its shareholders. The Company thanks its shareholders for their continued support and as it moves forward into production. About the Company Arian Silver Corporation is a silver exploration and development Company and is listed on London's AIM; trades on London's "PLUS" market; is listed 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. The Tepal project is currently subject to an exclusive purchase option to Geologix Explorations Inc. 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. Forward-Looking Statements This press release contains certain "forward-looking statements". All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, funding from the disposal of assets or from other sources, the mineral resource estimates contained in this press release, statements regarding exploration results, potential mineralisation, potential mineral resources, future production and the Company's exploration and development plans and objectives) are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realised or substantially realised, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to establish estimated mineral reserves, the possibility that future exploration results will not be consistent with the Company's expectations, uncertainties relating to the availability and costs of financing needed in the future, changes in commodity prices, changes in equity markets, political developments in Mexico, changes to regulations affecting the Company's activities, delays in obtaining or failures to obtain required regulatory approvals, the uncertainties involved in interpreting exploration results and other geological data, and the other risks involved in the mineral exploration and development industry. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. 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. FOR FURTHER INFORMATION PLEASE CONTACT: Arian Silver Corporation Carlyle House 235-237 Vauxhall Bridge Road London SW1V 1EJ England or Arian Silver Corporation Jim Williams CEO (London) +44 (0)20 7963 8670 jwilliams@ariansilver.com or Arian Silver Corporation Graham Potts CFO & Corporate Secretary (London) +44 (0)20 7963 8670 gpotts@ariansilver.com or Grant Thornton Corporate Finance Gerry Beaney (London) +44 (0)20 7383 5100 gerry.d.beaney@gtuk.com or Yellow Jersey PR Limited Dominic Barretto (London) +44 (0)20 8980 3545 dominic@yellowjerseypr.com or CHF Investor Relations Alison Tullis (Canada) +1 416 868 1079 Ext. 233 alison@chfir.com (END) Dow Jones Newswires June 30, 2010 10:27 ET (14:27 GMT)