Mr. Joseph Grosso reports

GOLDEN ARROW REPORTS THAT PUNA OPERATIONS FIRST QUARTER OPERATIONAL RESULTS ARE AVAILABLE

Golden Arrow Resources Corp.'s joint venture partner in Puna Operations Inc. has reported the first quarter 2019 operational results for the joint venture's Chinchillas silver-lead-zinc mine in Argentina.

"In the first quarter of the year, material from the Chinchillas mine returned excellent grades of silver and achieved remarkable processing recoveries, and we now look forward to achieving steady-state production," commented Joseph Grosso, Golden Arrow Resources' chairman and chief executive officer.

Highlights from the news release (dated April 10, 2019, and available on SEDAR) reported by Puna's operating partner, SSR Mining, include:

• The company produced 2.4 million ounces of silver, double the silver production in the fourth quarter of 2018, with lead and zinc production of 6.8 million pounds and 1.6 million pounds, respectively.
• Processed ore in the first quarter of 2019 contained an average silver grade of 235 grams per tonne.
• Silver recoveries were quoted at 91.7 per cent.
• Ramp-up at the Chinchillas mine was substantially completed during the quarter.

Qualified person

Brian McEwen, PGeol, vice-president of exploration and development, a qualified person as defined in National Instrument 43-101, has reviewed and approved the contents of this news release.

About Golden Arrow Resources Corp.

Golden Arrow is an exploration company earning production income. The company has a successful record of creating value by making precious and base metal discoveries and advancing them into exceptional 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 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.

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