Arian Silver Increases Contained Silver at San Jose by 32% to More Than 117 Million Ounces in Updated Mineral Resource Estimate

Arian Silver Corporation ("Arian" or the "Company") (TSX
VENTURE:AGQ)(AIM:AGQ)(PLUS:AGQ)(FRANKFURT:I3A), a silver exploration,
development and production company with a focus on projects in the silver belt
of Mexico, today announced the results of its updated Canadian National
Instrument (NI) 43-101 mineral resource estimate for its 100%-owned San Jose
Property ("San Jose"), located in Zacatecas State, Mexico.


Highlights:



--  29% increase in resource tonnage along the San Jose Vein ("SJV") from
    the July 2011 mineral resource estimate; 
    --  Contained ounces of silver are up 32%; 
    --  Contained pounds of lead are up 29%; and 
    --  Contained pounds of zinc are up 30%;
--  Mineralisation remains open along the western and eastern strikes of the
    SJV and to depth; and 
--  Further drilling is planned to infill the current resources, step out
    along the remaining SJV structure in both directions, and to drill at
    depth on the SJV.



Commenting on today's independent mineral resource estimate update, Arian's
Chief Executive Officer, Jim Williams, said:


"Our latest updated resource estimate reaffirms the potential for very
significant silver, lead and zinc resources at San Jose, which we believe will
continue to grow in size with further systematic exploration. Today's reported
resource figures mark a significant increase in total resources and are positive
indicators for expanded future mining plans at San Jose. Contained silver alone
has increased by 32% above the independent resource estimate reported in July
last year."


Regarding potential resource growth, Mr. Williams explained:

"Almost 2 kilometres of SJV structure to the West, and over 1.5 kilometres to
the East remain to be drilled, together with a significant amount of infill
drilling to further detail the current resources; this is in addition to down
dip extensions of the vein. We also still have a number of other targets to
drill within the property, which provide further potential upside."


The in-situ resources comprise 8,000,000 gross tonnes in the Indicated mineral
resource category, containing 30.61 million (M) ounces (oz) silver (Ag), 67.02 M
pounds (lb) of lead (Pb) and 149.91 M lb of zinc (Zn) at an average grade of 119
g/t Ag, 0.38% Pb and 0.85% Zn; and 24,500,000 gross tonnes in the Inferred
mineral resource category, containing 86.65 M oz Ag, 205.25 M lb of Pb, and
410.50 M lb of Zn at an average grade of 110 g/t Ag, 0.38% Pb and 0.76% Zn.


Management continues to believe San Jose has much more resource upside to offer
and more drilling will be conducted in due course to continue the evaluation of
the various untested mineral systems and to further upgrade current resource
categories.


The updated mineral resource estimate is summarized in the table below. The full
technical report prepared by CSA Global (UK) Limited will be filed on SEDAR
within 45 days. A schematic plan together with schematic views through the
resource model showing the updated resources in relation to the San Jose Vein
strike is available at the links provided below:


Eastern SJV Resource Area: http://www.ariansilver.com/i/pdf/ESJ.pdf 

Central SJV / Santa Ana Resource Area: http://www.ariansilver.com/i/pdf/SA.pdf 

Western SJV / Guanajatillo Resource Area: http://www.ariansilver.com/i/pdf/Guan.pdf 

SJ Project Drill Holes, Aerial View:
http://www.ariansilver.com/i/pdf/barrenos-24-de-febrero-2012.pdf




                                                                            
             San Jose Mineral Resource Estimate - 12 March 2012             
----------------------------------------------------------------------------
Resource                                                                    
Category      Tonnes      Average Grade              Contained Metal        
----------------------------------------------------------------------------
                 (t) Ag (g/t)  Pb (%)  Zn (%) Ag (M oz)  Pb (M lb) Zn (M lb)
----------------------------------------------------------------------------
Indicated  8,000,000      119    0.38    0.85     30.61      67.02    149.91
----------------------------------------------------------------------------
Inferred  24,500,000      110    0.38    0.76     86.65     205.25    410.50
----------------------------------------------------------------------------



Notes: 



1.  Geological characteristics and +30 ppm grade envelopes used to define
    resource volumes 
2.  The mineral resource estimate is in accordance with CIM standards 
3.  The effective date of the mineral resource estimate is 12 March 2012 
4.  The estimate is based on geological, statistical and geostatistical data
    assessment and Ordinary Kriging (OK) linear grade interpolation into Ag
    wireframe restricted block model volumes 
5.  Tonnages have been rounded to reflect this as an estimate 
6.  Contained ounces have been calculated using 1 oz = 31.1035 g 
7.  Contained pounds have been calculated using 1 t = 2204.6226 lb.



The mineral resource estimate update has included all relevant drill holes from
the Company's recently completed Phase 4 drill programme as well as phases 1, 2
and 3.


QA/QC

All technical information for the San Jose is obtained and reported under a
formal quality assurance and quality control (QA / QC) programme. The core is
logged and photographed by Arian staff and then split using a diamond saw. Half
the core is stored on-site in a secure core shed and the other half is labelled,
bagged and secured before transporting to Stewart Group's sample preparation
facility in Zacatecas, Mexico. Each sample has its own unique sample number. The
entire half-core is crushed to minus 10 mesh and a half kilogram riffle split is
pulverized and homogenized to minus 200 mesh. The pulp samples are then air
freighted to Stewart Group's analytical laboratory in Canada for analysis.
Systematic assaying of duplicates, blanks and certified reference material is
performed for precision and accuracy; quality procedures and processes are
continually reviewed and monitored independent of Arian with protocols in place
to deal with any non-conformity. Stewart Group's laboratories in Zacatecas,
Mexico, and Kamloops, BC, Canada, are ISO 9001:2000 accredited.


Approximately 5% of the analysed samples are re-sampled and sent to ALS Chemex
preparation facility in Guadalajara, Mexico. The samples consist of both coarse
reject samples as well as pulp samples. The coarse material is crushed and
pulverised according to the same protocol, and the pulp samples are air
freighted to ALS Chemex's analytical laboratories in Vancouver, Canada, for
analysis. Results from all duplicate analyses are compared to identify potential
analytical or sampling errors.


Stewart Group and ALS Chemex Laboratories are independent of Arian.

The samples were analysed for a multi-element scan by aqua regia digestion and
ICP (inductively coupled plasma) finish. High-grade samples (greater than 200
g/t Ag) were re-analysed by fire assay with a gravimetric finish.


Qualified Person 

The "Qualified Person" (as such term is defined in Canadian National Instrument
43-101) who supervised the preparation of the updated resource estimate for the
San Jose Project, is Mr Galen White, who is an employee and Principal Geologist
of independent consultants CSA Global (UK) Limited. Mr White has reviewed,
verified and approved the contents of this release that relates to the reporting
of the updated Mineral Resource Estimate, in the context in which it appears.


Mr Jim Williams, Eur Ing, Eur Geol, BSc, MSc, D.I.C., FIMMM, the Chief Executive
Officer of Arian, is a "Qualified Person" as defined in the AIM guidelines of
the London Stock Exchange, and a "Qualified Person" as such term is defined in
Canadian National Instrument 43-101 ("NI 43-101"). This press release has been
prepared under Mr Williams' supervision. Mr Williams has verified the data
disclosed in this release including sampling, analytical and test data
underlying the technical information included herein, and the mineral resource
estimate disclosed herein. 


About the Company 

Arian is a silver exploration, development and production 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 is active in Mexico,
the world's largest silver producing country. The Company's main project is the
San Jose project in Zacatecas State. Part of Arian'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.


Forward-Looking Information 

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 statements relating to
the San Jose Project with respect to estimates in respect of mineral resource
quantities, mineral resource qualities, the potential scope and context of the
mineralized area, the potential for upgrading the mineral resource estimate and
the Company's exploration and drilling targets, goals, objectives and plans.
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 significant risks and
uncertainties and other factors 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 realized or substantially realized, 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, but are not limited to: failure to establish
estimated mineral resources, the grade, quality and recovery of mineral
resources varying from estimates, risks related to the exploration stage of the
Company's properties, the possibility that future exploration results will not
be consistent with the Company's expectations (including identifying additional
and/or deeper mineralization), changes in the price of silver, changes in equity
markets, political developments in Mexico, uncertainties relating to the
availability and costs of financing needed in the future, changes to regulations
affecting the Company's activities, delays in obtaining or failures to obtain
required regulatory approvals, the uncertainties involved in interpreting
drilling and exploration results and other geological data and other factors
(including exploration, development and operating risks).


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
guaranteed of future performance and accordingly undue reliance should not be
put on such statements due to the inherent uncertainty therein.


The mineral resource figures disclosed in this press release are estimates and
no assurances can be given that the indicated levels of silver and other
minerals will be produced. Such estimates are expressions of judgment based on
knowledge, mining experience, analysis of drilling results and industry
practices. Valid estimates made at a given time may significantly change when
new information becomes available. While the Company believes that the mineral
resource estimates disclosed in this news release are well established, by their
nature mineral resource estimates are imprecise and depend, to a certain extent,
upon statistical inferences which may ultimately prove unreliable. If such
estimates are inaccurate or are reduced in the future, this could have a
material adverse impact on the Company.


Mineral resources are not mineral reserves and do not have demonstrated economic
viability. Inferred mineral resources are estimated on limited information not
sufficient to verify geological and grade continuity or to allow technical and
economic parameters to be applied. Inferred mineral resources are too
speculative geologically to have economic considerations applied to them to
enable them to be categorized as mineral reserves. There is no certainty that
mineral resources can be upgraded to mineral reserves through continued
exploration.