Initial Mineral Resource Estimate For San Pietro Copper-Gold-Iron-Cobalt Project

VANCOUVER - Golden Arrow Resources Corporation reported on the first mineral resource estimate (MRE) for the San Pietro Copper-Gold-Iron-Cobalt Project in Chile. MRE Highlights: 492 million tonnes at an average grade of 0.23% Cu, 0.05 g/t Au, 14.43% Fe & 99 ppm Co in the Inferred category, including 2.5 Billion pounds of copper, and 770,000 ounces of gold. The pit-constrained MRE is supported by 32,733 metres of drilling, mostly from the Rincones target which has been the main focus of work to date, but with contributions from the adjacent Colla high cobalt-iron target.

Brian McEwen, VP Exploration and Development, said, "We are thrilled to report this initial resource estimate and demonstrate our commitment to building value for our shareholders. In just three years we have turned a US$3.35M property purchase into an asset with substantial copper and gold resources that have the potential to rival other deposits in the region. As designed, our programs to date were successful in expanding and better defining the property's main target, Rincones, resulting in the initial current Inferred mineral resource estimate being announced today. The next phase of drilling will focus on delineating higher grade breccias and mantos within the resource area as measured and indicated resources. We also plan an extensive metallurgical sampling program to gain a better understanding of the recoverable magnetic iron and cobalt recovery options. In addition, we ended our last program on a high note, with long mineralized intervals in large step-out holes at Rincones that support drilling further to the south and east to expand the resource. We are eager to continue our work as we are confident that there is plenty of potential remaining to increase the size and grades of these resources, as well as identify others within our vast property holdings."