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Re: Press Releases - Tuesday, January 19, 2010
Arian Notified of Geologix's Intention to Exercise Tepal Option
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LONDON, ENGLAND--(Marketwire - Jan. 19, 2010) - Arian Silver
Corporation ("Arian" or the "Company") (TSX
VENTURE:AGQ)(AIM:AGQ)(FRANKFURT:I3A)(PLUS:AGQ) announces, further to
the terms of a previously disclosed Letter of Intent ("LOI") between
Geologix Exploration Inc ("Geologix") and Arian, that Geologix has
satisfied its due diligence and technical review and delivered notice
to Arian of its election to proceed with the Option to Purchase a 100%
interest the Tepal Gold-Copper Project in the state of Michoac�n,
Mexico, subject to Toronto Stock Exchange and TSX Venture Exchange
approvals, and the completion of a definitive agreement between Arian
and Geologix.
Under the terms of the previously announced LOI (see Arian's news
release dated 29 September, 2009), Geologix can elect to complete the
purchase of 100% of the property by delivering to Arian the equivalent
of US$1.45 million before February 23, 2010, and Arian will repay
Geologix the loan of US$517,500. Geologix will then pay a final US$1.55
million to Arian before February 23, 2011. At Geologix's election, up
to 50% of both installment payments may be payable in Geologix shares,
subject to Toronto Stock Exchange approval. Geologix will also assume
the remaining underlying property option agreement payments of
US$900,000 payable before June 6, 2010, and a further US$2.3 million
before June 6, 2011 to the underlying vendor.
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 Michoac�n 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.
Further information can be found by visiting Arian's website:
www.ariansilver.com or the Company's publicly available records at
www.sedar.com.
For further information please contact:
Arian Silver Corporation
Carlyle House
235-237 Vauxhall Bridge Road
London SW1V 1EJ
England
Jim Williams - CEO
(London) +44 (0)20 7963 8670 / email: jwilliams@ariansilver.com
Graham Potts -- CFO & Corporate Secretary
(London) +44 (0)20 7963 8670 / email: gpotts@ariansilver.com
Grant Thornton UK LLP
Gerry Beaney
(London) +44 (0)20 7383 5100 / email: gerry.d.beaney@gtuk.com
CHF Investor Relations
Alison Tullis
(Canada) +1 416 868 1079 Ext. 233 / email: alison@chfir.com
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, the completion of a definitive agreement between the
Company and Geologix in connection with the transactions described in
this press release) 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, the failure to complete a
definitive agreement between the Company and Geologix, the failure to
obtain the required regulatory approvals and the failure to complete
the transactions described herein. 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.
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Copyright (c) 2010 ARIAN SILVER CORPORATION (AGQ) All rights reserved.
For more information visit our website at http://www.ariansilver.com/
or send mailto:info@ariansilver.com
Message sent on Tue Jan 19, 2010 at 6:38:50 AM Pacific Time
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Arian Silver Corporation
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PRODUCTEUR |
CODE : AGQ.V |
ISIN : VGG0472G1063 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Arian Silver est une société de production minière d'argent basée au Royaume-Uni. Arian Silver est productrice d'argent, d'or, de plomb et de zinc au Mexique, et détient divers projets d'exploration au Mexique. Son principal projet en production est SAN JOSÉ ZACATECAS au Mexique et ses principaux projets en exploration sont SAN CELSO et CALICANTO au Mexique. Arian Silver est cotée au Canada, au Royaume-Uni, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 41,4 millions CA$ (39,0 millions €). La valeur de son action a atteint son plus bas niveau récent le 12 décembre 2008 à 0,03 CA$, et son plus haut niveau récent le 07 janvier 2011 à 8,90 CA$. Arian Silver possède 318 491 926 actions en circulation. |