First Three Drill Holes Completed For Rincones Target At San Pietro Project

VANCOUVER - Golden Arrow Resources Corporation reported on the first three drill holes of the on-going 10,000-metre diamond drilling campaign at the San Pietro Iron-Copper-Gold-Cobalt Project in Chile. The three holes reported here are part of the initial set of eight holes drilled to complete a nominal grid over the advanced Rincones target and verify the requisite spacing for completing the first Mineral Resource Estimate for the project.

Drill hole SP-DDH-14 intersected 12 well-mineralized intervals between 30 and 380 metres depth, highlighted by: 11.1m at 463 g/t Co and 42.2% Fe from 46.4m; 5.95m at 0.80% Cu, 0.19 g/t Au, 159 g/t Co and 28.9% Fe from 180m; and 20m at 1.47% Cu, 0.16 g/t Au, 343 g/t Co and 27.2% Fe from 360m. Drill hole SP-DDH-15 returned a long mineralized interval interpreted to have intersected a newly-recognized mineralized structure at a low angle: 132m averaging 0.44% Cu from 114m. Drill hole SP-DDH-16 returned multiple mineralized intervals between 30 and 252 metres depth, highlighted by: 64m at 0.20% Cu from 30 m; and 2.27m at 0.22 g/t Au, 1395 g/t Co and 34.3% Fe from 246.93m.

Brian McEwen, VP Exploration and Development, said, "This drilling program has focused in the middle of the Rincones Target area and we are thrilled with results to date. The thick mantos together with the vertical high grade breccias are really starting to come together.  We are drilling the final hole of this batch, which totals eight holes in Rincones and one in the Colla copper-cobalt target. Next, we will start a step-out program to test for additional extensions to the mineralization and increase the resource potential."