Arian Silver : Final Closing of Settlement with Quintana Achieved

                    Not for Distribution to U.S. Newswire services                 
                       nor for Distribution in the United States                   

                                                                                   
                                                                    Trading Symbols
                                                                           AIM: AGQ
                                                                           FWB: I3A
                                                                    26 January 2016

                                                                                   
                                                                                   
                  Final Closing of Settlement with Quintana Achieved               
                                                                                   

    Arian Silver Corporation ("Arian" or the "Company") announces further to its
    announcement on 27 November 2015 of the execution of a settlement deed
    ("Settlement Deed") with Quintana AGQ Holding Co. LLC and its affiliates
    (together, "Quintana"), Quintana has now confirmed that Arian's transitional
    obligations have been satisfied in accordance with the Settlement Deed.

    Quintana had previously paid US$650,000 to Arian in accordance with the terms
    of the Settlement Deed and will now, upon satisfaction of Arian's obligations
    under the Settlement Deed, pay a further US$50,000 plus expenses, to Arian.
    Consequently, Arian has no borrowings on its balance sheet and currently has
    positive net working capital of US$238,000.

    Quintana has now released Arian from its obligations under its previous senior
    secured loan arrangement as well as the Base Metals Purchase Agreement and
    Investment Agreement each dated 14 October 2014.

    Arian retains the San Celso, Calicanto and Los Campos projects along with all
    other mining concessions held at the time when the Company became public on the
    AIM and TSXV in 2006, such remaining concessions all comprising more than 1,600
    hectares.

    Jim Williams, Chief Executive Officer of Arian commented: "we remain focussed
    on a return to growth with the raising of funds, acquisition of additional
    mining concessions, and continuing of exploration activity."

    For further information please contact:

    Arian Silver Corporation              Cantor Fitzgerald Europe               
    Jim Williams, CEO                     Stewart Dickson / David Porter /       
    David Taylor, Company Secretary       Patrick Pittaway                       
                                          (London) [phone]           
                                                                                 
                                                                                 
    OR                                                                           
                                                                                 
    Yellow Jersey PR Limited              Beaufort Securities Limited            
    Dominic Barretto                      Jon Belliss                            
    (London) [phone]          (London) [phone]           
    [e-mail]                                                   

    Forward-Looking Information

    This press release contains certain "forward-looking information". 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 are deemed forward-looking information.

    This forward-looking information reflects the current expectations or beliefs
    of the Company based on information currently available to the Company as well
    as certain assumptions. Forward-looking information is 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 information, 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.

    Any forward-looking information 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 information,
    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 information are reasonable, forward-looking information is not
    a guarantee of future performance and accordingly undue reliance should not be
    put on such information due to the inherent uncertainty therein.