Mr. Joseph Grosso reports

GOLDEN ARROW ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Golden Arrow Resources Corp. has arranged a non-brokered private placement financing of up to 8.5 million units at a price of 30 cents per unit for gross proceeds of $2.55-million.

Each unit will consist of one common share and one transferrable common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share in the capital of the company at 40 cents per share for two years from the date of issue.

This financing is subject to regulatory approval and all securities to be issued pursuant to the financing are subject to a four-month hold period under applicable Canadian securities laws. Directors, officers and employees of the company may participate in a portion of the financing. A commission may be paid on a portion of the financing. The proceeds of the financing will be used for general working capital.

About Golden Arrow Resources Corp.

Golden Arrow is an exploration company earning production income. The company creates value by making precious metal and base metal discoveries and advancing them into deposits. Golden Arrow owns a 25-per-cent share of Puna Operations, a joint venture operated by SSR Mining, with more than eight years of forecast production and upside potential at the Pirquitas-Chinchillas silver mining project. Golden Arrow is actively exploring a new portfolio of advanced projects in Chile as well as other targets within its portfolio of more than 200,000 hectares of properties in Argentina.

We seek Safe Harbor.