Mr. Robert Card reports

AMENDED OPTION AGREEMENT

Further to the agreement entered into between Arrowstar Resources Ltd. and Pacific Rim Minerals LLC dated Aug. 18, 2011, whereby Arrowstar was granted an option to acquire up to an undivided 100-per-cent registered and beneficial interest in and to certain mining claims located in the state of Alaska, which was approved by the TSX Venture Exchange on Oct. 19, 2011, Arrowstar entered into a further agreement with Pacific Rim on April 20, 2012, to provide for title to the property to be held in the company's name.

Pacific Rim subsequently assigned its rights and interest under the option agreement to BullRun Prospecting Inc. pursuant to an agreement entered into between Pacific Rim and BullRun dated March 14, 2013.

On Sept. 27, 2013, Arrowstar and BullRun entered into an agreement to waive the minimum expenditures (as defined in the Aug. 18, 2011, option agreement) to be incurred between Nov. 1, 2012, and Oct. 31, 2013, and, in consideration, therefore, the company will issue to BullRun 1.5 million common shares of the company, subject to regulatory approval.

In accordance with all applicable securities laws, the common shares of the company to be issued under the second amendment to the option agreement will be subject to a four-month hold.

We seek Safe Harbor.