Financing Update

Arian Silver Corporation - Financing Update

PR Newswire

London, September 24

Not for Distribution to U.S. Newswire services

nor for Distribution in the United States

Trading Symbols

AIM: AGQ

TSX-V: AGQ

FWB: I3A

24 September 2015

Financing Update

Arian Silver Corporation (the "Company"), a silver mining company focussed on silver projects in the silver belt of Zacatecas, Mexico, announces further to its announcement on 22 September 2015, the following provisional terms of the restructuring, all of which are subject to final acceptance of the parties and also the Toronto Venture Stock Exchange.

Amendment to the loan note

It is envisaged the US$16,452,343 senior secured convertible loan note issued to Quintana AGQ Holding Co. LLC on 29 October 2014 (“Loan Note”) will be increased by an initial US$1.5 million, with additional amounts up to an aggregate of US$10 million being available to the Company under certain terms and conditions. It is expected that all additional loan notes issued will be on substantially the same terms as the existing Loan Note.

The maturity date of the Loan Note is expected to be extended to a date 48 months from the closing date of the transaction and the effective interest rate set to 12% per annum, payable from January 2017.

The conversion price of the restructured Loan Note (as described in the Company’s announcement of 22 September 2015), is expected to be C$0.17 per common share.

Share warrants

On 29 October 2014, the Company issued to Quintana AGQ Holding Co. LLC, 12,151,926 warrants to purchase shares at C$1.00 each until 29 October 2017. The quantity, price and term of these warrants is expected to remain unchanged.

Additional amendments are expected to be made to the investment agreement between the Company and Quintana, full details of which will be disclosed as appropriate, in due course.

For further information please contact:

About Quintana Minerals Corporation Group

Quintana San José Streaming Co. LLC and Quintana AGQ Holding Co. LLC are subsidiaries of Quintana Resources Holdings LP, a metals and mining holding company managed by Quintana Resources Capital ULC (QRC). QRC is a Vancouver-based natural resources-focused management company with a mandate to identify, evaluate, finance and manage high quality metals and mining companies and assets. These companies are all members of the Houston-based Quintana Minerals Corporation (QMC) group of companies, which have been in existence for close to 100 years.

QMC was originally formed as the mining division of Quintana Petroleum Corp in 1963, and is today the management company for a portfolio of energy and natural resources-based private and publicly-traded companies and private equity firms controlled and/or operated by the Corbin J. Robertson Jr. family.

The following are examples of some the group’s other ongoing ventures: Great Northern Properties L.P., a private company that holds over 20 billion tons of coal reserves; Corsa Coal Corp., a publicly traded junior mining company leading a consolidation strategy (CSO.V); Quintana Energy Partners, L.P., energy-focused private equity funds; LKCM Headwater Investments, a generalist private equity firm focusing on lower middle-market opportunities; and Quintana Shipping Ltd., the group’s 2nd dry bulk shipping venture.

For more information please visit www.quintanaresources.com and/or contact Oliver Rodz, Managing Director of QMC, 601 Jefferson Street, Suite 3600, Houston, Texas 77002 (tel: +1 713-751-7500).

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.