| TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi |
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| 1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:ii |
Arian Silver Corporation |
| 2. Reason for the notification (please tick the appropriate box or boxes): |
| An acquisition or disposal of voting rights |
x |
| An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached |
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| An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments |
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| An event changing the breakdown of voting rights |
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| Other (please specify): |
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| 3. Full name of person(s) subject to the notification obligation:iii |
Sprott Asset Management LP |
| 4. Full name of shareholder(s) (if different from 3.):iv |
See section 9 |
| 5. Date of the transaction and date on which the threshold is crossed or reached:v |
1 March 2013 |
| 6. Date on which issuer notified: |
7 March 2013 |
| 7. Threshold(s) that is/are crossed or reached:vi, vii |
16% |
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